Vanguard Group Inc. Buys 888,087 Shares of Micron Technology, Inc. (NASDAQ:MU)

Vanguard Group Inc. raised its holdings in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 0.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 99,857,205 shares of the semiconductor manufacturer's stock after acquiring an additional 888,087 shares during the period. Vanguard Group Inc. owned approximately 8.96% of Micron Technology worth $8,403,982,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of MU. Stonebrook Private Inc. boosted its holdings in Micron Technology by 4.2% in the third quarter. Stonebrook Private Inc. now owns 2,454 shares of the semiconductor manufacturer's stock worth $255,000 after purchasing an additional 98 shares in the last quarter. Trivant Custom Portfolio Group LLC raised its holdings in Micron Technology by 20.0% in the 4th quarter. Trivant Custom Portfolio Group LLC now owns 600 shares of the semiconductor manufacturer's stock valued at $50,000 after acquiring an additional 100 shares in the last quarter. Xcel Wealth Management LLC boosted its stake in Micron Technology by 1.8% during the fourth quarter. Xcel Wealth Management LLC now owns 6,157 shares of the semiconductor manufacturer's stock worth $518,000 after buying an additional 108 shares in the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors raised its position in Micron Technology by 3.8% in the fourth quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 2,973 shares of the semiconductor manufacturer's stock worth $250,000 after purchasing an additional 108 shares in the last quarter. Finally, Lebenthal Global Advisors LLC grew its position in Micron Technology by 1.5% in the fourth quarter. Lebenthal Global Advisors LLC now owns 7,474 shares of the semiconductor manufacturer's stock valued at $629,000 after acquiring an additional 114 shares during the period. 80.84% of the stock is owned by hedge funds and other institutional investors.

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Insider Buying and Selling at Micron Technology

In other news, Director Mary Pat Mccarthy sold 2,404 shares of Micron Technology stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $92.93, for a total transaction of $223,403.72. Following the completion of the sale, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.30% of the stock is currently owned by insiders.

Micron Technology Stock Down 2.2 %

NASDAQ MU traded down $2.05 during trading hours on Wednesday, reaching $92.13. 27,084,228 shares of the company's stock traded hands, compared to its average volume of 22,301,436. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.72 and a quick ratio of 1.75. The firm has a 50-day simple moving average of $96.80 and a 200 day simple moving average of $98.45. Micron Technology, Inc. has a 52-week low of $83.54 and a 52-week high of $157.54. The firm has a market cap of $102.65 billion, a PE ratio of 26.55 and a beta of 1.23.

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

Micron Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be paid 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 0.50%. Micron Technology's payout ratio is 11.03%.

Analysts Set New Price Targets

MU has been the subject of a number of research analyst reports. Stifel Nicolaus cut their price target on Micron Technology from $135.00 to $130.00 and set a "buy" rating for the company in a report on Thursday, December 19th. TD Cowen lowered their target price on shares of Micron Technology from $135.00 to $125.00 and set a "buy" rating for the company in a research note on Thursday, December 19th. Citigroup dropped their target price on shares of Micron Technology from $150.00 to $120.00 and set a "buy" rating on the stock in a report on Friday, March 21st. JPMorgan Chase & Co. dropped their target price on Micron Technology from $145.00 to $135.00 and set an "overweight" rating on the stock in a research report on Friday, March 21st. Finally, 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 report on Wednesday. One equities 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 company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $129.96.

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.