IFM Investors Pty Ltd Has $19.33 Million Position in Micron Technology, Inc. (NASDAQ:MU)

IFM Investors Pty Ltd raised its stake in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 6.6% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 222,470 shares of the semiconductor manufacturer's stock after buying an additional 13,768 shares during the quarter. IFM Investors Pty Ltd's holdings in Micron Technology were worth $19,330,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in MU. Sunbeam Capital Management LLC acquired a new stake in shares of Micron Technology during the 4th quarter valued at about $26,000. Opal Wealth Advisors LLC bought a new position in shares of Micron Technology in the 1st quarter valued at approximately $33,000. Curio Wealth LLC acquired a new position in Micron Technology during the 4th quarter valued at $34,000. Hurley Capital LLC bought a new stake in shares of Micron Technology during the fourth quarter valued at approximately $37,000. Finally, Roxbury Financial LLC raised its stake in shares of Micron Technology by 306.1% in the first quarter. Roxbury Financial LLC now owns 398 shares of the semiconductor manufacturer's stock valued at $37,000 after purchasing an additional 300 shares in the last quarter. Institutional investors and hedge funds own 80.84% of the company's stock.

Insider Buying and Selling

In other news, EVP April S. Arnzen sold 15,000 shares of the business's stock in a transaction on 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 owned 148,167 shares of the company's stock, valued at $18,538,655.04. The trade was a 9.19% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Manish H. Bhatia sold 80,000 shares of the firm's stock in a transaction on Monday, June 30th. The stock was 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 $33,877,251.72. The trade was a 22.53% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 254,446 shares of company stock worth $31,154,717 over the last quarter. Insiders own 0.30% of the company's stock.

Micron Technology Stock Performance

Shares of Micron Technology stock opened at $122.03 on Friday. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.75 and a quick ratio of 1.89. The firm has a 50 day simple moving average of $102.72 and a 200 day simple moving average of $94.77. Micron Technology, Inc. has a fifty-two week low of $61.54 and a fifty-two week high of $137.13. The firm has a market cap of $136.56 billion, a P/E ratio of 21.99 and a beta of 1.35.

Micron Technology (NASDAQ:MU - Get Free Report) last announced its quarterly earnings data on Wednesday, June 25th. The semiconductor manufacturer reported $1.91 EPS for the quarter, topping analysts' consensus estimates of $1.57 by $0.34. Micron Technology had a return on equity of 13.60% and a net margin of 18.41%. The firm had revenue of $9.30 billion during the quarter, compared to analyst estimates of $8.83 billion. During the same period last year, the company earned $0.62 earnings per share. Sell-side 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 announced a quarterly dividend, which will be paid on Tuesday, July 22nd. Stockholders of record on Monday, July 7th will be given a dividend of $0.115 per share. The ex-dividend date of this dividend is Monday, July 7th. This represents a $0.46 annualized dividend and a dividend yield of 0.38%. Micron Technology's payout ratio is currently 11.03%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on MU. Piper Sandler lifted their price target on shares of Micron Technology from $120.00 to $165.00 and gave the stock an "overweight" rating in a research note on Thursday, June 26th. UBS Group lifted their target price on shares of Micron Technology from $120.00 to $155.00 and gave the company a "buy" rating in a research report on Thursday, June 26th. Wedbush increased their price target on shares of Micron Technology from $150.00 to $165.00 and gave the stock an "outperform" rating in a research report on Thursday, June 26th. Robert W. Baird lifted their price objective on Micron Technology from $163.00 to $200.00 and gave the company an "outperform" rating in a report on Friday, June 27th. Finally, Wall Street Zen upgraded Micron Technology from a "hold" rating to a "buy" rating in a research note on Saturday, June 14th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $146.21.

Micron Technology 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.

Want to see what other hedge funds are holding MU? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Micron Technology, Inc. (NASDAQ:MU - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.