Handelsbanken Fonder AB Raises Stake in Micron Technology, Inc. (NASDAQ:MU)

Handelsbanken Fonder AB boosted its stake in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) by 2.4% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 434,596 shares of the semiconductor manufacturer's stock after acquiring an additional 9,992 shares during the period. Handelsbanken Fonder AB's holdings in Micron Technology were worth $45,072,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. Vanguard Group Inc. grew its stake in shares of Micron Technology by 1.8% in the 1st quarter. Vanguard Group Inc. now owns 96,666,590 shares of the semiconductor manufacturer's stock worth $11,396,024,000 after buying an additional 1,681,815 shares in the last quarter. Capital World Investors boosted its stake in shares of Micron Technology by 6.6% during the 1st quarter. Capital World Investors now owns 22,748,381 shares of the semiconductor manufacturer's stock worth $2,681,807,000 after purchasing an additional 1,400,154 shares during the period. Capital International Investors boosted its stake in shares of Micron Technology by 15.1% during the 1st 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. Price T Rowe Associates Inc. MD boosted its stake in shares of Micron Technology by 22.2% during the 1st 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 purchasing an additional 3,315,988 shares during the period. Finally, Van ECK Associates Corp boosted its stake in shares of Micron Technology by 6.9% during the 2nd quarter. Van ECK Associates Corp now owns 8,086,213 shares of the semiconductor manufacturer's stock worth $1,063,580,000 after purchasing an additional 519,641 shares during the period. 80.84% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

MU has been the subject of a number of recent analyst reports. Citigroup dropped their price target on shares of Micron Technology from $175.00 to $150.00 and set a "buy" rating for the company in a research note on Tuesday, September 17th. JPMorgan Chase & Co. lifted their price objective on shares of Micron Technology from $130.00 to $180.00 and gave the company an "overweight" rating in a report on Thursday, June 27th. Stifel Nicolaus decreased their price objective on shares of Micron Technology from $165.00 to $135.00 and set a "buy" rating for the company in a report on Thursday, September 19th. BNP Paribas lowered shares of Micron Technology from an "outperform" rating to an "underperform" rating and decreased their price objective for the company from $140.00 to $67.00 in a report on Thursday, September 12th. Finally, Piper Sandler lifted their price objective on shares of Micron Technology from $130.00 to $150.00 and gave the company an "overweight" rating in a report on Thursday, June 27th. One analyst has rated the stock with a sell rating, two have given a hold rating and twenty-five have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $143.23.

Insider Activity at Micron Technology

In related news, EVP April S. Arnzen sold 4,890 shares of the company's stock in a transaction dated 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. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 0.32% of the stock is currently owned by insiders.

Micron Technology Price Performance

NASDAQ:MU traded up $0.43 during trading hours on Friday, reaching $102.25. 21,945,805 shares of the company were exchanged, compared to its average volume of 22,362,682. The company has a current ratio of 3.41, a quick ratio of 2.16 and a debt-to-equity ratio of 0.29. The stock's 50-day moving average is $96.66 and its 200-day moving average is $115.24. The firm has a market cap of $113.38 billion, a PE ratio of -72.01, a price-to-earnings-growth ratio of 0.20 and a beta of 1.18. Micron Technology, Inc. has a twelve month low of $63.88 and a twelve month high of $157.54.

Micron Technology (NASDAQ:MU - Get Free Report) last posted its quarterly earnings data on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 earnings per share for the quarter, topping analysts' consensus estimates of $0.97 by $0.21. The company had revenue of $7.75 billion during the quarter, compared to analysts' expectations of $7.65 billion. Micron Technology had a negative net margin of 7.20% and a negative return on equity of 4.01%. The firm's revenue for the quarter was up 93.3% on a year-over-year basis. During the same period in the prior year, the business posted ($1.21) earnings per share. On average, sell-side analysts anticipate that Micron Technology, Inc. will post 0.61 earnings per share for the current fiscal year.

Micron Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 23rd. Investors of record on Monday, October 7th will be issued a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.45%. The ex-dividend date of this dividend is Monday, October 7th. Micron Technology's dividend payout ratio is currently -32.39%.

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.