Handelsbanken Fonder AB Purchases 80,276 Shares of Micron Technology, Inc. (NASDAQ:MU)

Handelsbanken Fonder AB grew its stake in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) by 18.5% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 514,872 shares of the semiconductor manufacturer's stock after acquiring an additional 80,276 shares during the period. Handelsbanken Fonder AB's holdings in Micron Technology were worth $43,332,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of MU. State Street Corp grew its position in 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 in the last quarter. Primecap Management Co. CA boosted its holdings 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 purchasing an additional 206,499 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Micron Technology by 3.9% in the 3rd quarter. Geode Capital Management LLC now owns 23,723,545 shares of the semiconductor manufacturer's stock worth $2,451,987,000 after purchasing an additional 892,607 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew 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 valued at $1,174,643,000 after purchasing an additional 2,022,180 shares during the last quarter. Finally, Van ECK Associates Corp raised its position in shares of Micron Technology by 30.6% in the third quarter. Van ECK Associates Corp now owns 10,564,198 shares of the semiconductor manufacturer's stock valued at $1,109,769,000 after purchasing an additional 2,477,985 shares during the period. 80.84% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

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

Wall Street Analyst Weigh In

MU has been the subject of several recent analyst reports. Morgan Stanley decreased their target price on Micron Technology from $98.00 to $91.00 and set an "equal weight" rating for the company in a research note on Tuesday, January 28th. Wedbush restated an "outperform" rating and set a $140.00 price target on shares of Micron Technology in a research note on Tuesday, December 17th. Piper Sandler reduced their price objective on Micron Technology from $150.00 to $120.00 and set an "overweight" rating for the company in a research report on Thursday, December 19th. Rosenblatt Securities restated a "buy" rating and set a $250.00 price objective on shares of Micron Technology in a research report on Wednesday, December 18th. Finally, TD Cowen reduced their target price on Micron Technology from $135.00 to $125.00 and set a "buy" rating for the company in a research report on Thursday, December 19th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $134.96.

Micron Technology Trading Down 4.3 %

Shares of Micron Technology stock traded down $4.40 during trading on Friday, hitting $98.78. 14,198,437 shares of the company were exchanged, compared to its average volume of 22,738,123. The firm has a market capitalization of $110.06 billion, a P/E ratio of 28.47 and a beta of 1.18. The firm's fifty day moving average price is $96.35 and its 200 day moving average price is $98.70. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.72 and a quick ratio of 1.75. Micron Technology, Inc. has a 1-year low of $83.54 and a 1-year high of $157.54.

Micron Technology (NASDAQ:MU - Get Free Report) last released its quarterly earnings data on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 EPS for the quarter, beating analysts' consensus estimates of $1.60 by $0.19. Micron Technology had a net margin of 13.34% and a return on equity of 8.32%. 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 prior year, the company earned ($0.95) EPS. The firm's quarterly revenue was up 84.3% on a year-over-year basis. As a group, sell-side analysts expect that Micron Technology, Inc. will post 6.08 earnings per share for the current fiscal year.

Micron Technology Announces Dividend

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

About Micron Technology

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.