Micron Technology, Inc. (NASDAQ:MU) Shares Purchased by Legacy Capital Group California Inc.

Legacy Capital Group California Inc. increased its position in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 227.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,935 shares of the semiconductor manufacturer's stock after purchasing an additional 6,899 shares during the quarter. Legacy Capital Group California Inc.'s holdings in Micron Technology were worth $836,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of MU. State Street Corp raised its holdings in shares of Micron Technology by 3.1% in the 3rd quarter. State Street Corp now owns 48,226,710 shares of the semiconductor manufacturer's stock valued at $5,001,592,000 after purchasing an additional 1,434,568 shares in the last quarter. Primecap Management Co. CA raised its stake in Micron Technology by 0.6% in the third quarter. Primecap Management Co. CA now owns 37,631,860 shares of the semiconductor manufacturer's stock worth $3,902,800,000 after buying an additional 206,499 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Micron Technology by 3.9% during the third quarter. Geode Capital Management LLC now owns 23,723,545 shares of the semiconductor manufacturer's stock worth $2,451,987,000 after buying an additional 892,607 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Micron Technology by 21.7% during the third 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. Finally, Van ECK Associates Corp boosted its position in Micron Technology by 30.6% during the 3rd quarter. Van ECK Associates Corp now owns 10,564,198 shares of the semiconductor manufacturer's stock valued at $1,109,769,000 after acquiring an additional 2,477,985 shares in the last quarter. 80.84% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages recently weighed in on MU. TD Cowen decreased their price objective on Micron Technology from $135.00 to $125.00 and set a "buy" rating for the company in a research note on Thursday, December 19th. China Renaissance started coverage on shares of Micron Technology in a report on Monday, October 28th. They issued a "buy" rating and a $148.00 target price for the company. Morgan Stanley lowered their price target on shares of Micron Technology from $98.00 to $91.00 and set an "equal weight" rating on the stock in a report on Tuesday, January 28th. Robert W. Baird reduced their price objective on shares of Micron Technology from $150.00 to $130.00 and set an "outperform" rating for the company in a research note on Thursday, December 19th. Finally, Wedbush reissued an "outperform" rating and set a $140.00 target price on shares of Micron Technology in a research report on Tuesday, December 17th. One analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-three have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $134.96.

Insider Activity

In related news, EVP April S. Arnzen sold 4,890 shares of the company's stock in a transaction dated 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 transaction, the executive vice president now owns 181,223 shares of the company's stock, valued at approximately $15,442,011.83. This represents a 2.63 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.30% of the company's stock.

Micron Technology Stock Performance

Shares of Micron Technology stock traded down $4.40 during trading on Friday, hitting $98.78. 18,633,227 shares of the company's stock were exchanged, compared to its average volume of 22,918,740. Micron Technology, Inc. has a 52-week low of $83.54 and a 52-week high of $157.54. 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 stock has a market capitalization of $110.06 billion, a price-to-earnings ratio of 28.47 and a beta of 1.18. The business has a 50-day simple moving average of $96.35 and a 200-day simple moving average of $98.70.

Micron Technology (NASDAQ:MU - Get Free Report) last issued its quarterly earnings data on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.60 by $0.19. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. The business had revenue of $8.71 billion during the quarter, compared to analysts' expectations of $8.71 billion. During the same quarter in the previous year, the firm posted ($0.95) EPS. The company's revenue for the quarter was up 84.3% on a year-over-year basis. On average, research analysts forecast that Micron Technology, Inc. will post 6.08 EPS for the current year.

Micron Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Monday, December 30th were paid a dividend of $0.115 per share. The ex-dividend date was Monday, December 30th. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.47%. Micron Technology's payout ratio is 13.26%.

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.