KBC Group NV Acquires 46,594 Shares of Micron Technology, Inc. (NASDAQ:MU)

KBC Group NV increased its position in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) by 13.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 400,467 shares of the semiconductor manufacturer's stock after purchasing an additional 46,594 shares during the quarter. KBC Group NV's holdings in Micron Technology were worth $33,704,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. Ascent Group LLC lifted its stake in Micron Technology by 4.2% in the second quarter. Ascent Group LLC now owns 3,306 shares of the semiconductor manufacturer's stock valued at $435,000 after buying an additional 133 shares during the last quarter. Creative Planning increased its stake in Micron Technology by 12.4% in the 2nd quarter. Creative Planning now owns 149,606 shares of the semiconductor manufacturer's stock worth $19,678,000 after purchasing an additional 16,463 shares in the last quarter. Nemes Rush Group LLC purchased a new position in Micron Technology in the 2nd quarter worth about $49,000. Silver Lake Advisory LLC acquired a new stake in Micron Technology during the 2nd quarter worth about $512,000. Finally, NewEdge Advisors LLC boosted its position in Micron Technology by 79.4% during the 2nd quarter. NewEdge Advisors LLC now owns 95,088 shares of the semiconductor manufacturer's stock worth $12,507,000 after acquiring an additional 42,080 shares during the period. 80.84% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on MU shares. Bank of America lowered Micron Technology from a "buy" rating to a "neutral" rating and reduced their price target for the company from $125.00 to $110.00 in a report on Thursday, December 19th. Sanford C. Bernstein reduced their target price on Micron Technology from $140.00 to $120.00 and set an "outperform" rating for the company in a report on Wednesday, December 18th. Cantor Fitzgerald reduced their target price on Micron Technology from $150.00 to $130.00 and set an "overweight" rating for the company in a report on Thursday, December 19th. The Goldman Sachs Group reduced their target price on Micron Technology from $145.00 to $128.00 and set a "buy" rating for the company in a report on Thursday, December 19th. Finally, Needham & Company LLC dropped their price target on Micron Technology from $140.00 to $120.00 and set a "buy" rating on the stock in a research report on Thursday, December 19th. One analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-three have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $134.96.

Micron Technology Trading Down 3.1 %

NASDAQ MU traded down $2.86 on Tuesday, reaching $88.25. The company had a trading volume of 34,708,463 shares, compared to its average volume of 27,190,305. The stock's 50 day moving average is $98.23 and its 200-day moving average is $100.80. The stock has a market cap of $98.33 billion, a price-to-earnings ratio of 25.43 and a beta of 1.18. The company has a quick ratio of 1.75, a current ratio of 2.72 and a debt-to-equity ratio of 0.28. Micron Technology, Inc. has a 52 week low of $79.15 and a 52 week high of $157.54.

Micron Technology (NASDAQ:MU - Get Free Report) last announced its quarterly earnings results on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.60 by $0.19. The company had revenue of $8.71 billion during the quarter, compared to the consensus estimate of $8.71 billion. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. The company's revenue for the quarter was up 84.3% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.95) earnings per share. Equities analysts predict that Micron Technology, Inc. will post 6.29 earnings per share for the current year.

Micron Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Monday, December 30th were given a $0.115 dividend. The ex-dividend date of this dividend was Monday, December 30th. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.52%. Micron Technology's payout ratio is 13.26%.

Insider Activity

In other news, EVP April S. Arnzen sold 4,890 shares of the firm's stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $85.21, for a total value of $416,676.90. Following the completion of the sale, the executive vice president now directly owns 181,223 shares of the company's stock, valued at $15,442,011.83. This trade represents a 2.63 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders own 0.30% of the company's stock.

Micron Technology Profile

Micron Technology, Inc designs, develops, manufactures, and sells memory and storage products worldwide. The company operates through four segments: Compute and Networking Business Unit, Mobile Business Unit, Embedded Business Unit, and Storage Business Unit. It provides memory and storage technologies comprising dynamic random access memory semiconductor devices with low latency that provide high-speed data retrieval; non-volatile and re-writeable semiconductor storage devices; and non-volatile re-writable semiconductor memory devices that provide fast read speeds under the Micron and Crucial brands, as well as through private labels.