Naviter Wealth LLC bought a new position in Micron Technology, Inc. (NASDAQ:MU - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 10,003 shares of the semiconductor manufacturer's stock, valued at approximately $843,000.
A number of other hedge funds have also modified their holdings of the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Micron Technology by 21.7% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 11,326,224 shares of the semiconductor manufacturer's stock valued at $1,174,643,000 after purchasing an additional 2,022,180 shares in the last quarter. Raymond James Financial Inc. bought a new position in Micron Technology in the 4th quarter valued at $135,865,000. State Street Corp boosted its position in Micron Technology by 3.1% in the 3rd quarter. State Street Corp now owns 48,226,710 shares of the semiconductor manufacturer's stock valued at $5,001,592,000 after buying an additional 1,434,568 shares during the last quarter. Worldquant Millennium Advisors LLC boosted its position in Micron Technology by 254.4% in the 3rd quarter. Worldquant Millennium Advisors LLC now owns 1,859,416 shares of the semiconductor manufacturer's stock valued at $192,840,000 after buying an additional 1,334,690 shares during the last quarter. Finally, Bridgewater Associates LP bought a new position in Micron Technology in the 3rd quarter valued at $102,018,000. 80.84% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
A number of brokerages have commented on MU. Mizuho decreased their price objective on Micron Technology from $135.00 to $115.00 and set an "outperform" rating on the stock in a research report on Thursday, December 19th. Bank of America lowered Micron Technology from a "buy" rating to a "neutral" rating and decreased their price objective for the company from $125.00 to $110.00 in a research report on Thursday, December 19th. Needham & Company LLC decreased their price objective on Micron Technology from $140.00 to $120.00 and set a "buy" rating on the stock in a research report on Thursday, December 19th. The Goldman Sachs Group decreased their price objective on Micron Technology from $145.00 to $128.00 and set a "buy" rating on the stock in a research report on Thursday, December 19th. Finally, KGI Securities upgraded Micron Technology to a "strong-buy" rating in a research report on Friday, February 21st. One analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $134.96.
Read Our Latest Research Report on MU
Micron Technology Stock Up 4.1 %
Shares of MU traded up $3.69 during midday trading on Friday, hitting $92.96. The stock had a trading volume of 19,124,262 shares, compared to its average volume of 22,173,117. The company has a 50 day simple moving average of $95.99 and a two-hundred day simple moving average of $98.29. Micron Technology, Inc. has a twelve month low of $83.54 and a twelve month high of $157.54. The firm has a market cap of $103.57 billion, a price-to-earnings ratio of 26.79 and a beta of 1.23. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.72 and a quick ratio of 1.75.
Micron Technology (NASDAQ:MU - Get Free Report) last released its quarterly earnings results on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.60 by $0.19. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. The firm had revenue of $8.71 billion for the quarter, compared to the consensus estimate of $8.71 billion. During the same quarter last year, the business posted ($0.95) EPS. The company's revenue for the quarter was up 84.3% on a year-over-year basis. On average, analysts anticipate that Micron Technology, Inc. will post 6.08 EPS for the current year.
Micron Technology Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Monday, December 30th were given a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.49%. The ex-dividend date of this dividend was Monday, December 30th. Micron Technology's dividend payout ratio is currently 13.26%.
Insider Activity at Micron Technology
In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of the business's stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $85.21, for a total transaction of $416,676.90. Following the transaction, the executive vice president now owns 181,223 shares of the company's stock, valued at $15,442,011.83. The trade was a 2.63 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Mary Pat Mccarthy sold 2,404 shares of the business's stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $92.93, for a total value of $223,403.72. Following the transaction, the director now directly owns 27,358 shares in the company, valued at approximately $2,542,378.94. This trade represents a 8.08 % decrease in their position. The disclosure for this sale can be found here. 0.30% of the stock is owned by company insiders.
Micron Technology Company 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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