MetLife Investment Management LLC Has $24.69 Million Stock Holdings in Micron Technology, Inc. (NASDAQ:MU)

MetLife Investment Management LLC raised its stake in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) by 1.8% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 293,354 shares of the semiconductor manufacturer's stock after acquiring an additional 5,136 shares during the period. MetLife Investment Management LLC's holdings in Micron Technology were worth $24,689,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in MU. Beacon Capital Management LLC boosted its position in shares of Micron Technology by 114.9% during the 4th quarter. Beacon Capital Management LLC now owns 374 shares of the semiconductor manufacturer's stock worth $31,000 after purchasing an additional 200 shares in the last quarter. Midwest Capital Advisors LLC purchased a new stake in shares of Micron Technology during the 4th quarter worth approximately $33,000. Comprehensive Financial Planning Inc. PA purchased a new position in Micron Technology in the 4th quarter valued at approximately $34,000. Curio Wealth LLC purchased a new stake in Micron Technology during the fourth quarter worth $34,000. Finally, Activest Wealth Management grew its holdings in Micron Technology by 583.3% in the fourth quarter. Activest Wealth Management now owns 410 shares of the semiconductor manufacturer's stock valued at $34,000 after purchasing an additional 350 shares during the last quarter. 80.84% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, EVP April S. Arnzen sold 15,000 shares of the company's stock in a transaction on Tuesday, March 25th. The shares were sold at an average price of $96.18, for a total value of $1,442,700.00. Following the completion of the sale, the executive vice president now directly owns 164,769 shares in the company, valued at approximately $15,847,482.42. This represents a 8.34 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Mary Pat Mccarthy sold 2,404 shares of the firm's stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $92.93, for a total value of $223,403.72. Following the completion of the transaction, the director now directly owns 27,358 shares in the company, valued at $2,542,378.94. The trade was a 8.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.30% of the stock is currently owned by corporate insiders.

Micron Technology Price Performance

Shares of MU stock traded up $4.09 during mid-day trading on Thursday, hitting $77.02. 14,299,475 shares of the stock traded hands, compared to its average volume of 23,218,609. The company's 50-day simple moving average is $86.69 and its 200-day simple moving average is $95.27. Micron Technology, Inc. has a twelve month low of $61.54 and a twelve month high of $157.54. The firm has a market cap of $86.08 billion, a price-to-earnings ratio of 22.22 and a beta of 1.18. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.75 and a current ratio of 2.72.

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

Micron Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were paid a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a yield of 0.60%. The ex-dividend date was Monday, March 31st. Micron Technology's dividend payout ratio is 11.03%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. KGI Securities upgraded shares of Micron Technology to a "strong-buy" rating in a research report on Friday, February 21st. Wells Fargo & Company dropped their price objective on shares of Micron Technology from $140.00 to $130.00 and set an "overweight" rating for the company in a research note on Thursday, March 13th. Royal Bank of Canada set a $125.00 target price on Micron Technology in a research note on Wednesday, March 19th. China Renaissance downgraded Micron Technology from a "buy" rating to a "hold" rating and set a $84.00 price target for the company. in a research report on Wednesday, March 26th. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating and set a $130.00 price objective on shares of Micron Technology in a research note on Friday, March 21st. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $128.56.

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.