M&G Plc Purchases 33,815 Shares of Micron Technology, Inc. (NASDAQ:MU)

M&G PLC lifted its holdings in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 29.3% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 149,037 shares of the semiconductor manufacturer's stock after acquiring an additional 33,815 shares during the period. M&G PLC's holdings in Micron Technology were worth $15,500,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Hobbs Group Advisors LLC bought a new stake in Micron Technology during the 2nd quarter valued at about $28,000. Highline Wealth Partners LLC acquired a new position in shares of Micron Technology during the third quarter worth $26,000. Richard W. Paul & Associates LLC lifted its holdings in shares of Micron Technology by 128.6% during the 2nd quarter. Richard W. Paul & Associates LLC now owns 256 shares of the semiconductor manufacturer's stock valued at $34,000 after purchasing an additional 144 shares during the last quarter. LRI Investments LLC grew its stake in Micron Technology by 57.2% during the 2nd quarter. LRI Investments LLC now owns 272 shares of the semiconductor manufacturer's stock worth $36,000 after buying an additional 99 shares during the last quarter. Finally, Davis Capital Management purchased a new position in shares of Micron Technology in the 3rd quarter valued at approximately $30,000. Hedge funds and other institutional investors own 80.84% of the company's stock.

Micron Technology Stock Performance

NASDAQ MU traded down $1.51 on Friday, reaching $111.90. The stock had a trading volume of 12,998,160 shares, compared to its average volume of 21,755,240. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.68 and a current ratio of 2.64. The business's 50-day moving average price is $100.16 and its 200 day moving average price is $113.12. Micron Technology, Inc. has a 12-month low of $72.93 and a 12-month high of $157.54. The stock has a market cap of $124.07 billion, a P/E ratio of 164.56 and a beta of 1.18.

Micron Technology (NASDAQ:MU - Get Free Report) last posted its quarterly earnings data on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 EPS for the quarter, beating analysts' consensus estimates of $0.97 by $0.21. Micron Technology had a return on equity of 1.58% and a net margin of 3.10%. The business had revenue of $7.75 billion for the quarter, compared to analyst estimates of $7.65 billion. During the same quarter last year, the company earned ($1.21) earnings per share. The business's revenue for the quarter was up 93.3% compared to the same quarter last year. As a group, equities analysts expect that Micron Technology, Inc. will post 8.31 earnings per share for the current year.

Micron Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 23rd. Shareholders of record on Monday, October 7th were issued a $0.115 dividend. The ex-dividend date of this dividend was Monday, October 7th. This represents a $0.46 dividend on an annualized basis and a yield of 0.41%. Micron Technology's dividend payout ratio is currently 67.65%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on MU. TD Cowen boosted their price objective on Micron Technology from $115.00 to $135.00 and gave the company a "buy" rating in a research report on Thursday, September 26th. Wedbush restated an "outperform" rating and issued a $140.00 price objective on shares of Micron Technology in a report on Thursday, September 26th. KeyCorp decreased their target price on shares of Micron Technology from $145.00 to $135.00 and set an "overweight" rating on the stock in a research note on Tuesday, October 8th. Stifel Nicolaus cut their target price on Micron Technology from $165.00 to $135.00 and set a "buy" rating for the company in a research note on Thursday, September 19th. Finally, China Renaissance assumed coverage on Micron Technology in a research report on Monday, October 28th. They set a "buy" rating and a $148.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-six have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $143.04.

Insider Buying and Selling

In related news, EVP April S. Arnzen sold 4,890 shares of the firm's stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $113.00, for a total transaction of $552,570.00. Following the transaction, the executive vice president now owns 135,830 shares in the company, valued at $15,348,790. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.32% of the stock is owned by company 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.