Groupama Asset Managment Boosts Stake in Micron Technology, Inc. $MU

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Groupama Asset Managment lifted its holdings in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) by 24.0% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,278,276 shares of the semiconductor manufacturer's stock after acquiring an additional 247,780 shares during the quarter. Micron Technology accounts for about 0.9% of Groupama Asset Managment's investment portfolio, making the stock its 25th biggest position. Groupama Asset Managment owned approximately 0.11% of Micron Technology worth $113,051,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Vanguard Group Inc. increased its position in shares of Micron Technology by 2.1% in the 1st quarter. Vanguard Group Inc. now owns 101,906,368 shares of the semiconductor manufacturer's stock worth $8,854,644,000 after purchasing an additional 2,049,163 shares during the last quarter. Northern Trust Corp lifted its position in shares of Micron Technology by 13.7% during the fourth 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 last quarter. Goldman Sachs Group Inc. grew its stake in Micron Technology by 23.8% in the first quarter. Goldman Sachs Group Inc. now owns 10,616,488 shares of the semiconductor manufacturer's stock worth $922,467,000 after purchasing an additional 2,038,641 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Micron Technology by 0.8% in the first quarter. Charles Schwab Investment Management Inc. now owns 6,938,848 shares of the semiconductor manufacturer's stock valued at $602,917,000 after buying an additional 58,285 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in Micron Technology by 26.3% during the first quarter. Dimensional Fund Advisors LP now owns 6,800,052 shares of the semiconductor manufacturer's stock valued at $590,807,000 after buying an additional 1,416,174 shares in the last quarter. 80.84% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on MU. Needham & Company LLC reiterated a "buy" rating and issued a $150.00 target price on shares of Micron Technology in a research report on Monday, August 11th. Wells Fargo & Company lifted their price objective on shares of Micron Technology from $150.00 to $170.00 and gave the stock an "overweight" rating in a report on Thursday, June 26th. Bank of America boosted their target price on shares of Micron Technology from $84.00 to $140.00 and gave the company a "neutral" rating in a research note on Thursday, June 26th. Cantor Fitzgerald raised their price target on shares of Micron Technology from $145.00 to $155.00 and gave the stock an "overweight" rating in a research report on Thursday, June 26th. Finally, Stifel Nicolaus boosted their price objective on shares of Micron Technology from $130.00 to $145.00 and gave the company a "buy" rating in a research report on Thursday, June 26th. One research analyst has rated the stock with a sell rating, five have given a hold rating, twenty have given a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, Micron Technology presently has a consensus rating of "Moderate Buy" and an average price target of $147.24.

Insiders Place Their Bets

In other Micron Technology news, EVP Manish H. Bhatia sold 80,000 shares of the stock in a transaction that occurred 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 completion of the sale, the executive vice president owned 275,067 shares in the company, valued at $33,877,251.72. This represents a 22.53% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Mary Pat Mccarthy sold 2,404 shares of the business's stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $121.28, for a total transaction of $291,557.12. Following the transaction, the director owned 22,550 shares in the company, valued at approximately $2,734,864. This represents a 9.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 286,042 shares of company stock valued at $34,679,277 over the last ninety days. Insiders own 0.30% of the company's stock.

Micron Technology Stock Up 2.2%

NASDAQ MU opened at $123.55 on Tuesday. Micron Technology, Inc. has a 12 month low of $61.54 and a 12 month high of $129.85. The company has a market capitalization of $138.27 billion, a P/E ratio of 22.26 and a beta of 1.37. The company's 50 day simple moving average is $118.27 and its 200 day simple moving average is $99.40. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.75 and a quick ratio of 1.89.

Micron Technology (NASDAQ:MU - Get Free Report) last posted its quarterly earnings data on Wednesday, June 25th. The semiconductor manufacturer reported $1.91 EPS 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 13.60%. The company had revenue of $9.30 billion during the quarter, compared to analyst estimates of $8.83 billion. During the same period in the prior year, the firm earned $0.62 earnings per share. Equities research analysts expect 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. Stockholders of record on Monday, July 7th were given a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend was Monday, July 7th. Micron Technology's dividend payout ratio is 8.29%.

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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