Micron Technology, Inc. (NASDAQ:MU) Holdings Lifted by Czech National Bank

Czech National Bank increased its holdings in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 6.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 255,908 shares of the semiconductor manufacturer's stock after purchasing an additional 15,485 shares during the period. Czech National Bank's holdings in Micron Technology were worth $22,236,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Sunbeam Capital Management LLC purchased a new stake in Micron Technology during the fourth quarter valued at about $26,000. Beacon Capital Management LLC raised its holdings in shares of Micron Technology by 114.9% during the 4th quarter. Beacon Capital Management LLC now owns 374 shares of the semiconductor manufacturer's stock valued at $31,000 after buying an additional 200 shares during the period. Midwest Capital Advisors LLC acquired a new position in Micron Technology during the 4th quarter worth approximately $33,000. Comprehensive Financial Planning Inc. PA purchased a new position in Micron Technology in the 4th quarter worth approximately $34,000. Finally, Curio Wealth LLC acquired a new stake in Micron Technology in the fourth quarter valued at approximately $34,000. Hedge funds and other institutional investors own 80.84% of the company's stock.

Insider Activity

In other news, Director Mary Pat Mccarthy sold 2,404 shares of the stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $80.00, for a total transaction of $192,320.00. Following the completion of the sale, the director now owns 24,954 shares in the company, valued at approximately $1,996,320. This represents a 8.79% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP April S. Arnzen sold 15,000 shares of the stock in a transaction on Tuesday, March 25th. The shares were sold at an average price of $96.18, for a total value of $1,442,700.00. Following the sale, the executive vice president now owns 164,769 shares of the company's stock, valued at $15,847,482.42. This trade represents a 8.34% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.30% of the company's stock.

Analysts Set New Price Targets

A number of research firms have recently issued reports on MU. Rosenblatt Securities dropped their price objective on shares of Micron Technology from $250.00 to $200.00 and set a "buy" rating on the stock in a research note on Friday, March 21st. Wall Street Zen lowered shares of Micron Technology from a "buy" rating to a "hold" rating in a report on Saturday, May 24th. Citigroup lowered their target price on Micron Technology from $120.00 to $110.00 and set a "buy" rating for the company in a research note on Friday, April 11th. Royal Bank of Canada set a $125.00 price target on Micron Technology in a research note on Wednesday, March 19th. Finally, China Renaissance lowered Micron Technology from a "buy" rating to a "hold" rating and set a $84.00 price objective for the company. in a research note on Wednesday, March 26th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $126.48.

Micron Technology Stock Performance

Micron Technology stock traded up $3.72 during midday trading on Monday, reaching $98.18. 16,832,283 shares of the stock traded hands, compared to its average volume of 23,507,422. The company has a current ratio of 2.72, a quick ratio of 1.75 and a debt-to-equity ratio of 0.28. The firm has a fifty day moving average price of $82.55 and a two-hundred day moving average price of $91.87. The firm has a market cap of $109.72 billion, a price-to-earnings ratio of 28.29 and a beta of 1.21. Micron Technology, Inc. has a fifty-two week low of $61.54 and a fifty-two week high of $157.54.

Micron Technology (NASDAQ:MU - Get Free Report) last released its quarterly earnings results on Thursday, March 20th. The semiconductor manufacturer reported $1.56 earnings per share for the quarter, beating analysts' consensus estimates of $1.43 by $0.13. The company had revenue of $8.05 billion for the quarter, compared to analysts' expectations of $7.93 billion. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. The business's revenue for the quarter was up 38.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.42 earnings per share. On average, equities research analysts forecast that Micron Technology, Inc. will post 6.08 earnings per share for the current year.

Micron Technology Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were issued a dividend of $0.115 per share. The ex-dividend date of this dividend was Monday, March 31st. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.47%. Micron Technology's dividend payout ratio (DPR) is presently 11.03%.

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.