PFG Investments LLC raised its position in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) by 24.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 24,979 shares of the semiconductor manufacturer's stock after buying an additional 4,984 shares during the quarter. PFG Investments LLC's holdings in Micron Technology were worth $2,591,000 at the end of the most recent quarter.
Other hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. boosted its position 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 purchasing an additional 1,681,815 shares in the last quarter. Capital World Investors boosted its holdings in Micron Technology by 6.6% in the first quarter. Capital World Investors now owns 22,748,381 shares of the semiconductor manufacturer's stock worth $2,681,807,000 after acquiring an additional 1,400,154 shares in the last quarter. Capital International Investors grew its stake in shares of Micron Technology by 15.1% in the first quarter. Capital International Investors now owns 18,303,506 shares of the semiconductor manufacturer's stock worth $2,157,800,000 after acquiring an additional 2,397,885 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of Micron Technology by 22.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 18,243,633 shares of the semiconductor manufacturer's stock valued at $2,150,743,000 after acquiring an additional 3,315,988 shares in the last quarter. Finally, Van ECK Associates Corp raised its position in shares of Micron Technology by 6.9% in 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 last quarter. Institutional investors own 80.84% of the company's stock.
Analyst Ratings Changes
MU has been the subject of several analyst reports. 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. Cantor Fitzgerald restated an "overweight" rating and issued a $150.00 price target on shares of Micron Technology in a research note on Tuesday, October 1st. KeyCorp lowered their price target on Micron Technology from $145.00 to $135.00 and set an "overweight" rating on the stock in a report on Tuesday, October 8th. TD Cowen lifted their price objective on Micron Technology from $115.00 to $135.00 and gave the stock a "buy" rating in a report on Thursday, September 26th. Finally, Stifel Nicolaus dropped their price target on shares of Micron Technology from $165.00 to $135.00 and set a "buy" rating on the stock in a report on Thursday, September 19th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-five have issued a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $142.85.
Read Our Latest Stock Report on MU
Micron Technology Stock Up 1.0 %
Shares of NASDAQ:MU traded up $1.06 during trading on Friday, reaching $107.91. The stock had a trading volume of 12,264,950 shares, compared to its average volume of 22,081,268. The firm's 50-day simple moving average is $99.22 and its 200 day simple moving average is $113.95. 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, Inc. has a one year low of $63.88 and a one year high of $157.54. The company has a market capitalization of $119.66 billion, a P/E ratio of -75.99 and a beta of 1.18.
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. Micron Technology had a return on equity of 1.58% and a net margin of 3.10%. The firm had revenue of $7.75 billion during the quarter, compared to analysts' expectations of $7.65 billion. During the same quarter last year, the firm earned ($1.21) EPS. The business's quarterly revenue was up 93.3% on a year-over-year basis. As a group, research analysts expect that Micron Technology, Inc. will post 8.31 EPS for the current fiscal year.
Micron Technology Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Wednesday, October 23rd. Shareholders of record on Monday, October 7th were paid a dividend of $0.115 per share. The ex-dividend date of this dividend was Monday, October 7th. This represents a $0.46 annualized dividend and a yield of 0.43%. Micron Technology's payout ratio is presently -32.39%.
Insider Activity
In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of the firm's stock in a transaction that occurred 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 position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.32% of the company's stock.
Micron Technology Profile
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Free Report)
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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