Mandatum Life Insurance Co Ltd Buys New Position in Micron Technology, Inc. (NASDAQ:MU)

Mandatum Life Insurance Co Ltd bought a new stake in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 46,981 shares of the semiconductor manufacturer's stock, valued at approximately $4,082,000. Micron Technology makes up 1.3% of Mandatum Life Insurance Co Ltd's holdings, making the stock its 22nd biggest position.

Several other large investors have also bought and sold shares of MU. Sunbeam Capital Management LLC acquired a new position in shares of Micron Technology in the 4th quarter valued at $26,000. Opal Wealth Advisors LLC acquired a new stake in Micron Technology during the 1st quarter worth about $33,000. Hurley Capital LLC acquired a new stake in Micron Technology during the 4th quarter worth about $37,000. Roxbury Financial LLC boosted its position in Micron Technology by 306.1% during the 1st quarter. Roxbury Financial LLC now owns 398 shares of the semiconductor manufacturer's stock worth $37,000 after acquiring an additional 300 shares during the period. Finally, Harbor Investment Advisory LLC boosted its position in Micron Technology by 240.0% during the 1st quarter. Harbor Investment Advisory LLC now owns 425 shares of the semiconductor manufacturer's stock worth $37,000 after acquiring an additional 300 shares during the period. Institutional investors own 80.84% of the company's stock.

Micron Technology Stock Performance

Shares of MU stock traded up $1.04 during trading hours on Friday, hitting $114.30. The company's stock had a trading volume of 5,367,109 shares, compared to its average volume of 23,287,241. The company has a 50 day moving average of $110.82 and a 200 day moving average of $96.72. The stock has a market cap of $127.92 billion, a PE ratio of 20.56 and a beta of 1.35. The company has a current ratio of 2.75, a quick ratio of 1.89 and a debt-to-equity ratio of 0.30. Micron Technology, Inc. has a 12-month low of $61.54 and a 12-month high of $129.85.

Micron Technology (NASDAQ:MU - Get Free Report) last posted its earnings results on Wednesday, June 25th. The semiconductor manufacturer reported $1.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.57 by $0.34. The business 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 company posted $0.62 EPS. On average, sell-side analysts forecast that Micron Technology, Inc. will post 6.08 EPS for the current fiscal year.

Micron Technology Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 22nd. Shareholders of record on Monday, July 7th will be given a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.40%. The ex-dividend date is Monday, July 7th. Micron Technology's dividend payout ratio is presently 8.29%.

Analyst Ratings Changes

MU has been the topic of several recent research reports. JPMorgan Chase & Co. lifted their price objective on Micron Technology from $135.00 to $165.00 and gave the stock an "overweight" rating in a report on Thursday, June 26th. Mizuho lifted their price objective on Micron Technology from $124.00 to $130.00 and gave the company an "outperform" rating in a research report on Thursday, June 5th. Stifel Nicolaus lifted their price objective on Micron Technology from $130.00 to $145.00 and gave the company a "buy" rating in a research report on Thursday, June 26th. Wall Street Zen upgraded Micron Technology from a "hold" rating to a "buy" rating in a research report on Saturday, June 14th. Finally, Barclays boosted their target price on Micron Technology from $95.00 to $140.00 and gave the stock an "overweight" rating in a research report on Thursday, June 26th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Micron Technology presently has an average rating of "Moderate Buy" and an average price target of $146.44.

Insider Buying and Selling at Micron Technology

In other news, EVP April S. Arnzen sold 15,000 shares of Micron Technology 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 transaction, the executive vice president directly 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 legal filing with the SEC, which is available through this link. Also, Director Mary Pat Mccarthy sold 2,404 shares of Micron Technology 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 completion of the transaction, the director directly owned 22,550 shares in the company, valued at $2,734,864. The trade was a 9.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 254,446 shares of company stock valued at $31,154,717. 0.30% of the stock is currently owned by company insiders.

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.

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