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

Global X Japan Co. Ltd. raised its stake in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) by 23.1% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 51,832 shares of the semiconductor manufacturer's stock after buying an additional 9,735 shares during the period. Micron Technology comprises about 0.7% of Global X Japan Co. Ltd.'s investment portfolio, making the stock its 27th biggest holding. Global X Japan Co. Ltd.'s holdings in Micron Technology were worth $5,375,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of the business. Clearbridge Investments LLC increased its holdings in shares of Micron Technology by 1.1% during the 1st quarter. Clearbridge Investments LLC now owns 1,931,811 shares of the semiconductor manufacturer's stock worth $227,741,000 after purchasing an additional 20,741 shares during the period. Chapin Davis Inc. bought a new stake in Micron Technology in the second quarter valued at about $4,056,000. Handelsbanken Fonder AB increased its stake in Micron Technology by 2.4% in the third quarter. Handelsbanken Fonder AB now owns 434,596 shares of the semiconductor manufacturer's stock valued at $45,072,000 after acquiring an additional 9,992 shares during the period. Norden Group LLC increased its stake in Micron Technology by 1,916.7% in the first quarter. Norden Group LLC now owns 50,134 shares of the semiconductor manufacturer's stock valued at $5,910,000 after acquiring an additional 47,648 shares during the period. Finally, Kempner Capital Management Inc. grew its stake in Micron Technology by 16.8% during the third quarter. Kempner Capital Management Inc. now owns 94,192 shares of the semiconductor manufacturer's stock worth $9,769,000 after buying an additional 13,581 shares during the last quarter. Institutional investors and hedge funds own 80.84% of the company's stock.

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Insider Buying and Selling

In related news, EVP April S. Arnzen sold 4,890 shares of the stock in a transaction that occurred on Thursday, September 26th. The stock was sold at an average price of $113.00, for a total transaction of $552,570.00. Following the completion of the transaction, the executive vice president now directly 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 filing with the Securities & Exchange Commission, which is accessible through this link. 0.32% of the stock is currently owned by company insiders.

Micron Technology Price Performance

NASDAQ:MU traded down $2.77 during mid-day trading on Wednesday, reaching $105.05. The stock had a trading volume of 15,143,414 shares, compared to its average volume of 22,172,320. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.68 and a current ratio of 2.64. The firm has a 50 day moving average price of $99.23 and a two-hundred day moving average price of $114.10. The stock has a market capitalization of $116.48 billion, a P/E ratio of -73.98 and a beta of 1.18. Micron Technology, Inc. has a one year low of $63.88 and a one year high of $157.54.

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

Micron Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 23rd. Investors of record on Monday, October 7th will be given a dividend of $0.115 per share. This represents a $0.46 annualized dividend and a dividend yield of 0.44%. The ex-dividend date is Monday, October 7th. Micron Technology's dividend payout ratio is currently -32.39%.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on MU shares. Susquehanna cut their price objective on shares of Micron Technology from $175.00 to $165.00 and set a "positive" rating on the stock in a report on Thursday, September 26th. Bank of America increased their price objective on shares of Micron Technology from $110.00 to $125.00 and gave the company a "buy" rating in a report on Thursday, September 26th. JPMorgan Chase & Co. increased 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. Wedbush restated an "outperform" rating and issued a $140.00 price objective on shares of Micron Technology in a report on Thursday, September 26th. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $150.00 target price on shares of Micron Technology in a research note on Tuesday, October 1st. One analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-five have assigned a buy rating to the stock. According to MarketBeat.com, Micron Technology presently has a consensus rating of "Moderate Buy" and an average price target of $142.85.

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.