Schroder Investment Management Group Boosts Holdings in Micron Technology, Inc. (NASDAQ:MU)

Schroder Investment Management Group lifted its position in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 16.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 564,884 shares of the semiconductor manufacturer's stock after buying an additional 79,323 shares during the period. Schroder Investment Management Group owned approximately 0.05% of Micron Technology worth $47,541,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of MU. Vanguard Group Inc. raised its position in Micron Technology by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 99,857,205 shares of the semiconductor manufacturer's stock worth $8,403,982,000 after acquiring an additional 888,087 shares during the period. State Street Corp raised its holdings 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 worth $5,001,592,000 after purchasing an additional 1,434,568 shares during the period. Geode Capital Management LLC lifted its position in Micron Technology by 3.9% during the third quarter. Geode Capital Management LLC now owns 23,723,545 shares of the semiconductor manufacturer's stock valued at $2,451,987,000 after purchasing an additional 892,607 shares in the last quarter. Norges Bank bought a new stake in Micron Technology during the fourth quarter valued at about $1,470,875,000. Finally, Bank of New York Mellon Corp increased its position in Micron Technology by 1.5% in the fourth quarter. Bank of New York Mellon Corp now owns 9,956,311 shares of the semiconductor manufacturer's stock worth $837,923,000 after buying an additional 144,897 shares in the last quarter. Institutional investors own 80.84% of the company's stock.

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Analyst Ratings Changes

A number of brokerages have issued reports on MU. Barclays increased their price target on Micron Technology from $110.00 to $115.00 and gave the stock an "overweight" rating in a research note on Friday, March 21st. China Renaissance downgraded Micron Technology from a "buy" rating to a "hold" rating and set a $84.00 target price on the stock. in a research note on Wednesday, March 26th. Wedbush reissued an "outperform" rating and issued a $125.00 price target on shares of Micron Technology in a report on Monday, March 17th. Bank of America lowered shares of Micron Technology from a "buy" rating to a "neutral" rating and cut their price objective for the company from $125.00 to $110.00 in a report on Thursday, December 19th. Finally, KGI Securities raised shares of Micron Technology to a "strong-buy" rating in a report on Friday, February 21st. One research analyst has rated the stock with a sell rating, three have issued a hold rating, twenty have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $129.76.

Micron Technology Trading Up 2.1 %

Micron Technology stock traded up $1.82 during midday trading on Tuesday, reaching $88.71. The stock had a trading volume of 15,302,155 shares, compared to its average volume of 22,750,771. Micron Technology, Inc. has a 52-week low of $83.54 and a 52-week high of $157.54. The company has a fifty day moving average of $95.21 and a 200 day moving average of $98.49. The firm has a market cap of $99.14 billion, a price-to-earnings ratio of 25.56 and a beta of 1.23. The company has a quick ratio of 1.75, a current ratio of 2.72 and a debt-to-equity ratio of 0.28.

Micron Technology (NASDAQ:MU - Get Free Report) last issued its quarterly earnings results on Thursday, March 20th. The semiconductor manufacturer reported $1.56 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.43 by $0.13. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. The firm had revenue of $8.05 billion during the quarter, compared to analyst estimates of $7.93 billion. During the same period last year, the company earned $0.42 EPS. Micron Technology's quarterly revenue was up 38.2% compared to the same quarter last year. On average, analysts anticipate that Micron Technology, Inc. will post 6.08 earnings per share for the current fiscal year.

Micron Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be given a $0.115 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.46 annualized dividend and a yield of 0.52%. Micron Technology's dividend payout ratio (DPR) is 11.03%.

Insiders Place Their Bets

In related news, Director Mary Pat Mccarthy sold 2,404 shares of the company's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $92.93, for a total value of $223,403.72. Following the completion of the sale, the director now directly owns 27,358 shares of the company's stock, valued at $2,542,378.94. This represents a 8.08 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP April S. Arnzen sold 15,000 shares of the business's stock in a transaction dated Tuesday, March 25th. The shares were sold at an average price of $96.18, for a total transaction of $1,442,700.00. Following the completion of the sale, the executive vice president now owns 164,769 shares of the company's stock, valued at approximately $15,847,482.42. This represents a 8.34 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.30% of the company's stock.

Micron Technology Company Profile

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.