Asset Management One Co. Ltd. Raises Stock Holdings in Micron Technology, Inc. (NASDAQ:MU)

Asset Management One Co. Ltd. increased its stake in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) by 5.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 456,376 shares of the semiconductor manufacturer's stock after acquiring an additional 23,150 shares during the quarter. Asset Management One Co. Ltd.'s holdings in Micron Technology were worth $39,655,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently made changes to their positions in the business. Vanguard Group Inc. grew its position in shares of Micron Technology by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 99,857,205 shares of the semiconductor manufacturer's stock worth $8,403,982,000 after buying an additional 888,087 shares during the last quarter. FMR LLC grew its position in shares of Micron Technology by 34.6% in the 4th quarter. FMR LLC now owns 47,672,462 shares of the semiconductor manufacturer's stock worth $4,012,114,000 after buying an additional 12,249,341 shares during the last quarter. Capital World Investors grew its position in shares of Micron Technology by 63.7% in the 4th quarter. Capital World Investors now owns 41,096,391 shares of the semiconductor manufacturer's stock worth $3,458,673,000 after buying an additional 15,993,036 shares during the last quarter. Geode Capital Management LLC grew its position in shares of 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 worth $2,052,973,000 after buying an additional 726,282 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of Micron Technology in the 4th quarter worth approximately $1,470,875,000. 80.84% of the stock is currently owned by institutional investors.

Micron Technology Stock Down 1.0%

Shares of MU stock traded down $1.25 during mid-day trading on Thursday, hitting $126.00. The company's stock had a trading volume of 62,077,374 shares, compared to its average volume of 23,619,408. Micron Technology, Inc. has a 52-week low of $61.54 and a 52-week high of $144.07. The business has a 50-day moving average price of $96.45 and a 200 day moving average price of $93.89. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.99 and a current ratio of 3.13. The stock has a market cap of $140.81 billion, a price-to-earnings ratio of 30.22 and a beta of 1.28.

Micron Technology (NASDAQ:MU - Get Free Report) last posted its quarterly earnings results on Wednesday, June 25th. The semiconductor manufacturer reported $1.91 earnings per share for the quarter, topping the consensus estimate of $1.57 by $0.34. Micron Technology had a return on equity of 10.87% and a net margin of 14.92%. The firm had revenue of $9.30 billion during the quarter, compared to analysts' expectations of $8.83 billion. During the same quarter in the previous year, the business earned $0.62 earnings per share. Research analysts predict that Micron Technology, Inc. will post 6.08 EPS for the current fiscal year.

Micron Technology Dividend Announcement

The company 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 $0.115 dividend. This represents a $0.46 annualized dividend and a dividend yield of 0.37%. The ex-dividend date is Monday, July 7th. Micron Technology's payout ratio is currently 11.03%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Morgan Stanley lifted their price target on Micron Technology from $98.00 to $135.00 and gave the company an "equal weight" rating in a research report on Thursday. TD Cowen lifted their price target on Micron Technology from $125.00 to $150.00 and gave the company a "buy" rating in a research report on Thursday. Wedbush lifted their price target on Micron Technology from $150.00 to $165.00 and gave the company an "outperform" rating in a research report on Thursday. Robert W. Baird lifted their price target on Micron Technology from $130.00 to $163.00 and gave the company an "outperform" rating in a research report on Friday, March 21st. Finally, Wells Fargo & Company lifted their price target on Micron Technology from $150.00 to $170.00 and gave the company an "overweight" rating in a research report on Thursday. One analyst has rated the stock with a sell rating, three have given a hold rating, twenty have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Micron Technology has a consensus rating of "Moderate Buy" and a consensus target price of $144.67.

Insider Buying and Selling

In related news, CEO Sanjay Mehrotra sold 2,290 shares of Micron Technology stock in a transaction on Monday, June 16th. The stock was sold at an average price of $120.31, for a total value of $275,509.90. Following the completion of the sale, the chief executive officer now owns 384,885 shares of the company's stock, valued at $46,305,514.35. The trade was a 0.59% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Mary Pat Mccarthy sold 2,404 shares of Micron Technology stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $80.00, for a total value of $192,320.00. Following the completion of the sale, the director now directly owns 24,954 shares of the company's stock, valued at $1,996,320. The trade was a 8.79% decrease in their position. The disclosure for this sale can be found here. Insiders sold 37,404 shares of company stock valued at $4,130,167 over the last 90 days. Company insiders own 0.30% of the company's stock.

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.