1,107,756 Shares in Micron Technology, Inc. (NASDAQ:MU) Bought by Keystone Investors PTE Ltd.

Keystone Investors PTE Ltd. purchased a new stake in Micron Technology, Inc. (NASDAQ:MU - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,107,756 shares of the semiconductor manufacturer's stock, valued at approximately $96,253,000. Micron Technology comprises approximately 13.5% of Keystone Investors PTE Ltd.'s investment portfolio, making the stock its 3rd biggest position. Keystone Investors PTE Ltd. owned 0.10% of Micron Technology at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its holdings in Micron Technology by 2.1% in the first quarter. Vanguard Group Inc. now owns 101,906,368 shares of the semiconductor manufacturer's stock valued at $8,854,644,000 after buying an additional 2,049,163 shares in the last quarter. Capital World Investors grew its position in shares of Micron Technology by 63.7% during the 4th quarter. Capital World Investors now owns 41,096,391 shares of the semiconductor manufacturer's stock valued at $3,458,673,000 after acquiring an additional 15,993,036 shares during the period. Capital International Investors increased its stake in shares of Micron Technology by 36.3% in the 4th quarter. Capital International Investors now owns 16,437,080 shares of the semiconductor manufacturer's stock valued at $1,383,442,000 after purchasing an additional 4,375,232 shares in the last quarter. Capital Research Global Investors increased its stake in shares of Micron Technology by 139.7% in the 4th quarter. Capital Research Global Investors now owns 16,281,620 shares of the semiconductor manufacturer's stock valued at $1,370,280,000 after purchasing an additional 9,489,579 shares in the last quarter. Finally, Northern Trust Corp raised its holdings in Micron Technology by 13.7% in the 4th quarter. Northern Trust Corp now owns 10,712,056 shares of the semiconductor manufacturer's stock worth $901,527,000 after purchasing an additional 1,287,063 shares during the period. 80.84% of the stock is owned by institutional investors and hedge funds.

Micron Technology Stock Up 2.8%

Shares of MU opened at $111.87 on Friday. The company's 50-day simple moving average is $115.46 and its 200-day simple moving average is $98.13. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.89 and a current ratio of 2.75. Micron Technology, Inc. has a 1 year low of $61.54 and a 1 year high of $129.85. The stock has a market capitalization of $125.20 billion, a PE ratio of 20.16 and a beta of 1.37.

Micron Technology (NASDAQ:MU - Get Free Report) last released its earnings results on Wednesday, June 25th. The semiconductor manufacturer reported $1.91 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.57 by $0.34. The company had revenue of $9.30 billion for the quarter, compared to analyst estimates of $8.83 billion. Micron Technology had a net margin of 18.41% and a return on equity of 13.60%. During the same period in the prior year, the business earned $0.62 EPS. Analysts forecast that Micron Technology, Inc. will post 6.08 earnings per share for the current fiscal year.

Micron Technology Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 22nd. Shareholders of record on Monday, July 7th were issued a dividend of $0.115 per share. The ex-dividend date was Monday, July 7th. This represents a $0.46 annualized dividend and a yield of 0.4%. Micron Technology's dividend payout ratio is 8.29%.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Piper Sandler raised their price target on shares of Micron Technology from $120.00 to $165.00 and gave the company an "overweight" rating in a research note on Thursday, June 26th. TD Cowen raised their target price on Micron Technology from $125.00 to $150.00 and gave the company a "buy" rating in a research report on Thursday, June 26th. Deutsche Bank Aktiengesellschaft began coverage on Micron Technology in a research report on Thursday, July 10th. They set a "buy" rating and a $150.00 price target for the company. UBS Group raised their price objective on Micron Technology from $120.00 to $155.00 and gave the company a "buy" rating in a report on Thursday, June 26th. Finally, Arete Research raised shares of Micron Technology to a "strong-buy" rating in a research note on Friday, July 18th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $146.44.

Insider Activity at Micron Technology

In other news, EVP Manish H. Bhatia sold 80,000 shares of the firm's stock in a transaction on Monday, June 30th. The shares were sold at an average price of $123.16, for a total value of $9,852,800.00. Following the sale, the executive vice president directly owned 275,067 shares in the company, valued at approximately $33,877,251.72. This trade represents a 22.53% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Steven J. Gomo sold 7,000 shares of the business's stock in a transaction that occurred on Friday, June 27th. The stock was sold at an average price of $125.15, for a total value of $876,050.00. Following the sale, the director owned 22,762 shares of the company's stock, valued at approximately $2,848,664.30. The trade was a 23.52% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 286,042 shares of company stock worth $34,679,277 over the last quarter. 0.30% of the stock is currently owned by insiders.

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.

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