Acadian Asset Management LLC Buys 110,271 Shares of Micron Technology, Inc. (NASDAQ:MU)

Acadian Asset Management LLC grew its stake in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 487.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 132,882 shares of the semiconductor manufacturer's stock after acquiring an additional 110,271 shares during the quarter. Acadian Asset Management LLC's holdings in Micron Technology were worth $15,660,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in MU. DecisionPoint Financial LLC purchased a new stake in shares of Micron Technology during the 1st quarter valued at $25,000. Valued Wealth Advisors LLC increased its holdings in shares of Micron Technology by 230.7% during the first quarter. Valued Wealth Advisors LLC now owns 248 shares of the semiconductor manufacturer's stock valued at $29,000 after acquiring an additional 173 shares in the last quarter. Tidemark LLC purchased a new position in shares of Micron Technology in the 4th quarter valued at approximately $25,000. Pingora Partners LLC acquired a new stake in Micron Technology in the 4th quarter worth approximately $26,000. Finally, Riverview Trust Co purchased a new position in shares of Micron Technology in the first quarter worth $39,000. 80.84% of the stock is owned by institutional investors.

Micron Technology Price Performance

Shares of NASDAQ:MU traded down $3.19 during midday trading on Friday, hitting $114.26. The company had a trading volume of 18,038,924 shares, compared to its average volume of 29,122,340. Micron Technology, Inc. has a twelve month low of $61.75 and a twelve month high of $157.54. The stock has a market cap of $126.70 billion, a price-to-earnings ratio of -80.46 and a beta of 1.18. The company has a debt-to-equity ratio of 0.29, a current ratio of 3.41 and a quick ratio of 2.16. The business's 50-day simple moving average is $132.45 and its 200-day simple moving average is $111.26.

Micron Technology (NASDAQ:MU - Get Free Report) last issued its earnings results on Wednesday, June 26th. The semiconductor manufacturer reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.14. Micron Technology had a negative return on equity of 4.01% and a negative net margin of 7.20%. The company had revenue of $6.81 billion during the quarter, compared to analysts' expectations of $6.67 billion. During the same period in the prior year, the business earned ($1.57) EPS. The firm's quarterly revenue was up 81.5% on a year-over-year basis. On average, research analysts predict that Micron Technology, Inc. will post 0.58 earnings per share for the current year.

Micron Technology Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 23rd. Stockholders of record on Monday, July 8th will be issued a dividend of $0.115 per share. The ex-dividend date is Monday, July 8th. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.40%. Micron Technology's dividend payout ratio is currently -32.39%.

Insider Activity

In other news, EVP Sumit Sadana sold 13,239 shares of the stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $118.77, for a total transaction of $1,572,396.03. Following the completion of the transaction, the executive vice president now directly owns 260,857 shares in the company, valued at approximately $30,981,985.89. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, EVP Sumit Sadana sold 13,239 shares of the business's stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $118.77, for a total value of $1,572,396.03. Following the sale, the executive vice president now directly owns 260,857 shares of the company's stock, valued at approximately $30,981,985.89. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Sanjay Mehrotra sold 7,000 shares of the stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $111.93, for a total transaction of $783,510.00. Following the transaction, the chief executive officer now directly owns 719,049 shares of the company's stock, valued at approximately $80,483,154.57. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 243,730 shares of company stock valued at $30,218,549. 0.32% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research firms have weighed in on MU. Stifel Nicolaus boosted their price target on Micron Technology from $140.00 to $165.00 and gave the company a "buy" rating in a research note on Tuesday, June 18th. Barclays lifted their price target on Micron Technology from $120.00 to $145.00 and gave the company an "overweight" rating in a research report on Monday, May 13th. Morgan Stanley lifted their target price on shares of Micron Technology from $130.00 to $140.00 and gave the company an "equal weight" rating in a report on Monday, June 24th. JPMorgan Chase & Co. boosted their target price on shares of Micron Technology from $130.00 to $180.00 and gave the company an "overweight" rating in a research note on Thursday, June 27th. Finally, Raymond James upped their price objective on shares of Micron Technology from $130.00 to $160.00 and gave the stock an "outperform" rating in a research report on Friday, June 21st. Two research analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $158.72.

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.

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