Mizuho Securities USA LLC Raises Stock Holdings in Micron Technology, Inc. (NASDAQ:MU)

Mizuho Securities USA LLC increased its position in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 46.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 105,084 shares of the semiconductor manufacturer's stock after acquiring an additional 33,182 shares during the quarter. Mizuho Securities USA LLC's holdings in Micron Technology were worth $8,844,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position 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. Raymond James Financial Inc. purchased a new stake in shares of Micron Technology during the 4th quarter valued at $135,865,000. State Street Corp lifted its holdings in shares of Micron Technology by 3.1% during the 3rd 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 during the last quarter. Worldquant Millennium Advisors LLC grew its position in Micron Technology by 254.4% in the third quarter. Worldquant Millennium Advisors LLC now owns 1,859,416 shares of the semiconductor manufacturer's stock worth $192,840,000 after acquiring an additional 1,334,690 shares in the last quarter. Finally, Bridgewater Associates LP bought a new position in Micron Technology in the third quarter valued at $102,018,000. Hedge funds and other institutional investors own 80.84% of the company's stock.

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Analysts Set New Price Targets

Several brokerages have issued reports on MU. The Goldman Sachs Group dropped their price target on Micron Technology from $145.00 to $128.00 and set a "buy" rating for the company in a research note on Thursday, December 19th. TD Cowen cut their target price 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. Stifel Nicolaus decreased their price target on shares of Micron Technology from $135.00 to $130.00 and set a "buy" rating on the stock in a research note on Thursday, December 19th. KGI Securities raised shares of Micron Technology to a "strong-buy" rating in a research note on Friday, February 21st. Finally, Morgan Stanley lifted their target price on shares of Micron Technology from $91.00 to $112.00 and gave the stock an "equal weight" rating in a research report on Friday. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $132.63.

Micron Technology Trading Down 2.8 %

NASDAQ MU traded down $2.76 during trading on Tuesday, hitting $94.18. The company had a trading volume of 22,163,705 shares, compared to its average volume of 22,527,407. The company's fifty day moving average is $96.86 and its 200-day moving average is $98.40. Micron Technology, Inc. has a one year low of $83.54 and a one year high of $157.54. The company has a current ratio of 2.72, a quick ratio of 1.75 and a debt-to-equity ratio of 0.28. The company has a market cap of $104.93 billion, a price-to-earnings ratio of 27.14 and a beta of 1.23.

Micron Technology (NASDAQ:MU - Get Free Report) last announced its earnings results on Thursday, March 20th. The semiconductor manufacturer reported $1.56 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $8.05 billion during the quarter, compared to analyst estimates of $7.93 billion. During the same quarter in the prior year, the company earned $0.42 EPS. The business's revenue was up 38.2% compared to the same quarter last year. On average, sell-side analysts predict that Micron Technology, Inc. will post 6.08 earnings per share for the current year.

Micron Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be issued a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a yield of 0.49%. The ex-dividend date is Monday, March 31st. Micron Technology's dividend payout ratio (DPR) is presently 11.03%.

Insiders Place Their Bets

In other news, Director Mary Pat Mccarthy sold 2,404 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $92.93, for a total value of $223,403.72. Following the sale, the director now directly owns 27,358 shares of the company's stock, valued at approximately $2,542,378.94. This represents a 8.08 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.30% of the company's stock.

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.