375,705 Shares in Micron Technology, Inc. (NASDAQ:MU) Bought by KLP Kapitalforvaltning AS

KLP Kapitalforvaltning AS purchased a new stake in Micron Technology, Inc. (NASDAQ:MU - Free Report) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 375,705 shares of the semiconductor manufacturer's stock, valued at approximately $31,656,000.

Other institutional investors have also added to or reduced their stakes in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Micron Technology by 21.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 11,326,224 shares of the semiconductor manufacturer's stock worth $1,174,643,000 after buying an additional 2,022,180 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of Micron Technology in the 4th quarter valued at $135,865,000. State Street Corp increased its stake in shares of Micron Technology by 3.1% in the third quarter. State Street Corp now owns 48,226,710 shares of the semiconductor manufacturer's stock worth $5,001,592,000 after acquiring an additional 1,434,568 shares during the period. Worldquant Millennium Advisors LLC raised its holdings in shares of Micron Technology by 254.4% during the third quarter. Worldquant Millennium Advisors LLC now owns 1,859,416 shares of the semiconductor manufacturer's stock worth $192,840,000 after purchasing an additional 1,334,690 shares during the last quarter. Finally, Bridgewater Associates LP acquired a new stake in Micron Technology during the 3rd quarter worth about $102,018,000. Institutional investors and hedge funds own 80.84% of the company's stock.

Micron Technology Stock Down 2.2 %

Shares of NASDAQ:MU traded down $2.05 during trading on Wednesday, hitting $92.13. The company's stock had a trading volume of 27,084,228 shares, compared to its average volume of 22,388,180. Micron Technology, Inc. has a fifty-two week low of $83.54 and a fifty-two week high of $157.54. The business has a 50 day moving average price of $96.80 and a two-hundred day moving average price of $98.45. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.75 and a current ratio of 2.72. The company has a market capitalization of $102.65 billion, a PE ratio of 26.55 and a beta of 1.23.

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Micron Technology (NASDAQ:MU - Get Free Report) last issued its quarterly earnings results on Thursday, March 20th. The semiconductor manufacturer reported $1.56 earnings per share for the quarter, topping the consensus estimate of $1.43 by $0.13. The company had revenue of $8.05 billion for the quarter, compared to the consensus estimate of $7.93 billion. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. Micron Technology's revenue was up 38.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.42 EPS. As a group, research analysts expect that Micron Technology, Inc. will post 6.08 EPS for the current fiscal year.

Micron Technology Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be issued a $0.115 dividend. The ex-dividend date is Monday, March 31st. This represents a $0.46 annualized dividend and a yield of 0.50%. Micron Technology's dividend payout ratio (DPR) is 11.03%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on MU shares. Robert W. Baird increased their price target on shares of Micron Technology from $130.00 to $163.00 and gave the stock an "outperform" rating in a report on Friday, March 21st. Citigroup decreased their target price on Micron Technology from $150.00 to $120.00 and set a "buy" rating on the stock in a research report on Friday, March 21st. Wedbush reiterated an "outperform" rating and set a $125.00 price objective on shares of Micron Technology in a research note on Monday, March 17th. Rosenblatt Securities decreased their target price on Micron Technology from $250.00 to $200.00 and set a "buy" rating on the stock in a research report on Friday, March 21st. Finally, Morgan Stanley boosted their price target on Micron Technology from $91.00 to $112.00 and gave the stock an "equal weight" rating in a research report on Friday, March 21st. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Micron Technology has an average rating of "Moderate Buy" and an average target price of $129.96.

Insider Buying and Selling

In other news, Director Mary Pat Mccarthy sold 2,404 shares of the company's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $92.93, for a total transaction of $223,403.72. Following the completion of the transaction, the director now directly owns 27,358 shares of the company's stock, valued at approximately $2,542,378.94. This represents a 8.08 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.30% of the stock is owned by insiders.

Micron Technology Company 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.