Micron Technology, Inc. (NASDAQ:MU) Shares Purchased by Global X Japan Co. Ltd.

Global X Japan Co. Ltd. raised its position in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 23.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 51,832 shares of the semiconductor manufacturer's stock after acquiring an additional 9,735 shares during the quarter. Micron Technology accounts for about 0.7% of Global X Japan Co. Ltd.'s investment portfolio, making the stock its 27th largest holding. Global X Japan Co. Ltd.'s holdings in Micron Technology were worth $5,375,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of MU. Hobbs Group Advisors LLC acquired a new position in shares of Micron Technology in the second quarter worth about $28,000. DecisionPoint Financial LLC acquired a new position in shares of Micron Technology in the 1st quarter valued at approximately $25,000. Valued Wealth Advisors LLC boosted its stake in shares of Micron Technology by 230.7% during the 1st quarter. Valued Wealth Advisors LLC now owns 248 shares of the semiconductor manufacturer's stock valued at $29,000 after buying an additional 173 shares during the last quarter. Richard W. Paul & Associates LLC grew its position in shares of Micron Technology by 128.6% during the second quarter. Richard W. Paul & Associates LLC now owns 256 shares of the semiconductor manufacturer's stock worth $34,000 after buying an additional 144 shares in the last quarter. Finally, LRI Investments LLC increased its stake in shares of Micron Technology by 57.2% in the second quarter. LRI Investments LLC now owns 272 shares of the semiconductor manufacturer's stock worth $36,000 after buying an additional 99 shares during the last quarter. Institutional investors and hedge funds own 80.84% of the company's stock.

Insider Activity at Micron Technology

In other 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 transaction, the executive vice president now owns 135,830 shares of the company's stock, valued at $15,348,790. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 0.32% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on MU. The Goldman Sachs Group raised their price objective on shares of Micron Technology from $138.00 to $158.00 and gave the stock a "buy" rating in a report on Thursday, June 27th. Wells Fargo & Company lowered their price objective on Micron Technology from $190.00 to $175.00 and set an "overweight" rating for the company in a report on Wednesday, September 18th. KeyCorp cut their price objective on Micron Technology from $145.00 to $135.00 and set an "overweight" rating on the stock in a research note on Tuesday, October 8th. Robert W. Baird decreased their target price on Micron Technology from $172.00 to $150.00 and set an "outperform" rating for the company in a research report on Friday, September 27th. Finally, Needham & Company LLC reissued a "buy" rating and set a $140.00 price target on shares of Micron Technology in a research report on Thursday, September 26th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-five have given a buy rating to the company's stock. Based on data from MarketBeat, Micron Technology has a consensus rating of "Moderate Buy" and an average target price of $142.85.

Micron Technology Stock Down 1.2 %

Micron Technology stock opened at $107.82 on Wednesday. Micron Technology, Inc. has a 52 week low of $63.88 and a 52 week high of $157.54. The stock has a market cap of $119.56 billion, a price-to-earnings ratio of -75.93 and a beta of 1.18. The company's 50-day moving average price is $99.14 and its two-hundred day moving average price is $114.17. The company has a current ratio of 2.64, a quick ratio of 1.68 and a debt-to-equity ratio of 0.29.

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

Micron Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 23rd. Stockholders of record on Monday, October 7th will be issued a $0.115 dividend. The ex-dividend date of this dividend is Monday, October 7th. This represents a $0.46 annualized dividend and a dividend yield of 0.43%. Micron Technology's dividend payout ratio (DPR) is -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.

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