Allspring Global Investments Holdings LLC Buys 25,773 Shares of Micron Technology, Inc. (NASDAQ:MU)

Allspring Global Investments Holdings LLC boosted its stake in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 3.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 749,252 shares of the semiconductor manufacturer's stock after purchasing an additional 25,773 shares during the period. Allspring Global Investments Holdings LLC owned about 0.07% of Micron Technology worth $66,466,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in MU. Vanguard Group Inc. increased its position in Micron Technology by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 99,857,205 shares of the semiconductor manufacturer's stock valued at $8,403,982,000 after acquiring an additional 888,087 shares during the period. FMR LLC increased its position in Micron Technology by 34.6% in the 4th quarter. FMR LLC now owns 47,672,462 shares of the semiconductor manufacturer's stock valued at $4,012,114,000 after acquiring an additional 12,249,341 shares during the period. Capital World Investors increased its position in Micron Technology by 63.7% in 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. Geode Capital Management LLC increased its position in Micron Technology by 3.1% in the 4th quarter. Geode Capital Management LLC now owns 24,449,827 shares of the semiconductor manufacturer's stock valued at $2,052,973,000 after acquiring an additional 726,282 shares during the period. Finally, Norges Bank acquired a new position in Micron Technology in the 4th quarter valued at approximately $1,470,875,000. Institutional investors own 80.84% of the company's stock.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. UBS Group upped their price target on shares of Micron Technology from $120.00 to $155.00 and gave the company a "buy" rating in a research report on Thursday. Wedbush increased their price objective on shares of Micron Technology from $150.00 to $165.00 and gave the stock an "outperform" rating in a research report on Thursday. Susquehanna increased their price objective on shares of Micron Technology from $150.00 to $160.00 and gave the stock a "positive" rating in a research report on Thursday. Mizuho increased their price objective on shares of Micron Technology from $124.00 to $130.00 and gave the stock an "outperform" rating in a research report on Thursday, June 5th. Finally, Royal Bank Of Canada set a $125.00 price objective on shares of Micron Technology in a research report on Wednesday, March 19th. One analyst has rated the stock with a sell rating, three have issued a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $146.21.

Insider Buying and Selling

In other news, EVP April S. Arnzen sold 15,000 shares of Micron Technology stock in a transaction dated Tuesday, June 24th. The shares were sold at an average price of $125.12, for a total value of $1,876,800.00. Following the completion of the transaction, the executive vice president now owns 148,167 shares in the company, valued at $18,538,655.04. This trade represents a 9.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Scott J. Deboer sold 20,000 shares of Micron Technology stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $110.00, for a total transaction of $2,200,000.00. Following the completion of the transaction, the executive vice president now owns 186,353 shares of the company's stock, valued at $20,498,830. The trade was a 9.69% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 72,404 shares of company stock worth $8,509,167. Insiders own 0.30% of the company's stock.

Micron Technology Stock Down 1.0%

Micron Technology stock opened at $124.76 on Friday. The company has a current ratio of 3.13, a quick ratio of 1.99 and a debt-to-equity ratio of 0.28. The firm's fifty day moving average price is $98.71 and its two-hundred day moving average price is $94.18. Micron Technology, Inc. has a 1-year low of $61.54 and a 1-year high of $137.13. The firm has a market capitalization of $139.43 billion, a price-to-earnings ratio of 22.48 and a beta of 1.28.

Micron Technology (NASDAQ:MU - Get Free Report) last released its quarterly earnings results on Wednesday, June 25th. The semiconductor manufacturer reported $1.91 earnings per share for the quarter, beating analysts' consensus estimates of $1.57 by $0.34. Micron Technology had a net margin of 18.41% and a return on equity of 13.88%. The company had revenue of $9.30 billion for the quarter, compared to analyst estimates of $8.83 billion. During the same period last year, the firm earned $0.62 earnings per share. On average, equities research analysts predict that Micron Technology, Inc. will post 6.08 earnings per share for the current fiscal year.

Micron Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 22nd. Investors of record on Monday, July 7th will be issued a dividend of $0.115 per share. The ex-dividend date of this dividend is Monday, July 7th. This represents a $0.46 dividend on an annualized basis and a yield of 0.37%. Micron Technology's dividend payout ratio (DPR) is presently 11.03%.

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.

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