Mediolanum International Funds Ltd Raises Position in Micron Technology, Inc. (NASDAQ:MU)

Mediolanum International Funds Ltd lifted its stake in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) by 167.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 144,390 shares of the semiconductor manufacturer's stock after purchasing an additional 90,482 shares during the period. Mediolanum International Funds Ltd's holdings in Micron Technology were worth $15,496,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. DecisionPoint Financial LLC purchased a new stake in Micron Technology during the 1st quarter worth about $25,000. Hobbs Group Advisors LLC purchased a new stake in shares of Micron Technology in the second quarter worth about $28,000. Valued Wealth Advisors LLC boosted its position in shares of Micron Technology by 230.7% in 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 during the period. Davis Capital Management purchased a new position in Micron Technology during the third quarter valued at approximately $30,000. Finally, Richard W. Paul & Associates LLC increased its holdings in Micron Technology by 128.6% during the 2nd quarter. Richard W. Paul & Associates LLC now owns 256 shares of the semiconductor manufacturer's stock worth $34,000 after acquiring an additional 144 shares during the period. Institutional investors own 80.84% of the company's stock.

Insider Buying and Selling at Micron Technology

In related news, EVP April S. Arnzen sold 4,890 shares of the firm's stock in a transaction on Thursday, September 26th. The shares were 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 trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.32% of the company's stock.

Micron Technology Stock Performance

NASDAQ:MU traded up $1.06 during mid-day trading on Friday, hitting $107.91. 12,240,770 shares of the company traded hands, compared to its average volume of 22,081,268. The stock's fifty day moving average price is $99.23 and its 200-day moving average price is $114.05. The company has a quick ratio of 1.68, a current ratio of 2.64 and a debt-to-equity ratio of 0.29. Micron Technology, Inc. has a one year low of $63.88 and a one year high of $157.54. The firm has a market cap of $119.66 billion, a price-to-earnings ratio of -76.22 and a beta of 1.18.

Micron Technology (NASDAQ:MU - Get Free Report) last posted its quarterly earnings results 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 business had revenue of $7.75 billion during 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 company's revenue 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. Research analysts anticipate that Micron Technology, Inc. will post 8.31 earnings per share for the current fiscal year.

Micron Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 23rd. Shareholders of record on Monday, October 7th were paid a $0.115 dividend. The ex-dividend date was Monday, October 7th. This represents a $0.46 annualized dividend and a yield of 0.43%. Micron Technology's payout ratio is -32.39%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on MU. KeyCorp dropped their target price on shares of Micron Technology from $145.00 to $135.00 and set an "overweight" rating for the company in a research report on Tuesday, October 8th. Bank of America lifted their price objective on shares of Micron Technology from $110.00 to $125.00 and gave the stock a "buy" rating in a report on Thursday, September 26th. Cantor Fitzgerald reissued an "overweight" rating and issued a $150.00 target price on shares of Micron Technology in a research note on Tuesday, October 1st. Morgan Stanley lifted their price target on Micron Technology from $100.00 to $114.00 and gave the stock an "equal weight" rating in a research note on Thursday, September 26th. Finally, JPMorgan Chase & Co. increased their price objective on Micron Technology from $130.00 to $180.00 and gave the company an "overweight" rating in a research report on Thursday, June 27th. One analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-five have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently 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.