Mivtachim The Workers Social Insurance Fund Ltd. Under Special Management Invests $21.36 Million in Micron Technology, Inc. (NASDAQ:MU)

Mivtachim The Workers Social Insurance Fund Ltd. Under Special Management bought a new position in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 206,000 shares of the semiconductor manufacturer's stock, valued at approximately $21,364,000. Micron Technology makes up 2.9% of Mivtachim The Workers Social Insurance Fund Ltd. Under Special Management's portfolio, making the stock its 12th largest position.

Several other institutional investors have also recently made changes to their positions in MU. Price T Rowe Associates Inc. MD lifted its position in shares of Micron Technology by 22.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 18,243,633 shares of the semiconductor manufacturer's stock worth $2,150,743,000 after acquiring an additional 3,315,988 shares in the last quarter. Van ECK Associates Corp increased its holdings 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 worth $1,109,769,000 after purchasing an additional 2,477,985 shares during the period. Capital International Investors increased its holdings in shares of Micron Technology by 15.1% in the first quarter. Capital International Investors now owns 18,303,506 shares of the semiconductor manufacturer's stock worth $2,157,800,000 after purchasing an additional 2,397,885 shares during the period. Swedbank AB increased its holdings in shares of Micron Technology by 473.8% in the second quarter. Swedbank AB now owns 2,649,180 shares of the semiconductor manufacturer's stock worth $348,447,000 after purchasing an additional 2,187,460 shares during the period. Finally, 1832 Asset Management L.P. increased its holdings in shares of Micron Technology by 301,500.0% in the first quarter. 1832 Asset Management L.P. now owns 1,809,600 shares of the semiconductor manufacturer's stock worth $213,334,000 after purchasing an additional 1,809,000 shares during the period. Hedge funds and other institutional investors own 80.84% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Wells Fargo & Company decreased their price target on shares of Micron Technology from $190.00 to $175.00 and set an "overweight" rating on the stock in a report on Wednesday, September 18th. UBS Group reduced their target price on Micron Technology from $153.00 to $135.00 and set a "buy" rating on the stock in a research note on Tuesday, September 17th. BNP Paribas cut Micron Technology from an "outperform" rating to an "underperform" rating and reduced their target price for the company from $140.00 to $67.00 in a research note on Thursday, September 12th. Stifel Nicolaus reduced their target price on Micron Technology from $165.00 to $135.00 and set a "buy" rating on the stock in a research note on Thursday, September 19th. Finally, Robert W. Baird reduced their target price on Micron Technology from $172.00 to $150.00 and set an "outperform" rating on the stock in a research note on Friday, September 27th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $143.04.

Insider Activity at Micron Technology

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of Micron Technology stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $113.00, for a total value of $552,570.00. Following the completion of the sale, the executive vice president now owns 135,830 shares of the company's stock, valued at approximately $15,348,790. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.32% of the stock is owned by insiders.

Micron Technology Stock Down 1.3 %

Shares of MU stock traded down $1.51 during trading hours on Friday, hitting $111.90. 13,045,721 shares of the company's stock traded hands, compared to its average volume of 17,080,670. The stock's fifty day simple moving average is $100.16 and its two-hundred day simple moving average 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 price-to-earnings ratio of 164.56 and a beta of 1.18. The company has a quick ratio of 1.68, a current ratio of 2.64 and a debt-to-equity ratio of 0.29.

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

Micron Technology Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 23rd. Investors of record on Monday, October 7th were given a dividend of $0.115 per share. This represents a $0.46 annualized dividend and a dividend yield of 0.41%. The ex-dividend date was Monday, October 7th. Micron Technology's dividend payout ratio (DPR) is currently 67.65%.

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.