Micron Technology, Inc. (NASDAQ:MU) Shares Purchased by Goldman Sachs Group Inc.

Goldman Sachs Group Inc. boosted its stake in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 23.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,616,488 shares of the semiconductor manufacturer's stock after buying an additional 2,038,641 shares during the quarter. Goldman Sachs Group Inc. owned approximately 0.95% of Micron Technology worth $922,467,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of MU. Capital World Investors grew its holdings in Micron Technology by 63.7% in the 4th quarter. Capital World Investors now owns 41,096,391 shares of the semiconductor manufacturer's stock valued at $3,458,673,000 after buying an additional 15,993,036 shares in the last quarter. Capital Research Global Investors boosted its position in shares of Micron Technology by 139.7% during the 4th quarter. Capital Research Global Investors now owns 16,281,620 shares of the semiconductor manufacturer's stock valued at $1,370,280,000 after acquiring an additional 9,489,579 shares during the last quarter. Capital International Investors grew its holdings in shares of Micron Technology by 36.3% in the fourth quarter. Capital International Investors now owns 16,437,080 shares of the semiconductor manufacturer's stock valued at $1,383,442,000 after purchasing an additional 4,375,232 shares during the period. Price T Rowe Associates Inc. MD increased its position in Micron Technology by 198.4% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 6,545,882 shares of the semiconductor manufacturer's stock worth $550,903,000 after purchasing an additional 4,352,225 shares during the last quarter. Finally, GAMMA Investing LLC increased its position in Micron Technology by 10,369.6% during the first quarter. GAMMA Investing LLC now owns 1,873,435 shares of the semiconductor manufacturer's stock worth $162,783,000 after purchasing an additional 1,855,541 shares during the last quarter. 80.84% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the stock. JPMorgan Chase & Co. boosted their target price on shares of Micron Technology from $135.00 to $165.00 and gave the company an "overweight" rating in a report on Thursday, June 26th. Arete Research upgraded Micron Technology to a "strong-buy" rating in a report on Friday, July 18th. Robert W. Baird raised their target price on Micron Technology from $163.00 to $200.00 and gave the stock an "outperform" rating in a research note on Friday, June 27th. Raymond James Financial lifted their target price on Micron Technology from $120.00 to $150.00 and gave the company an "outperform" rating in a research report on Thursday, June 26th. Finally, Wedbush increased their price target on Micron Technology from $150.00 to $165.00 and gave the stock an "outperform" rating in a report on Thursday, June 26th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $146.44.

Insider Activity

In other news, EVP Sumit Sadana sold 92,638 shares of Micron Technology stock in a transaction dated Friday, June 27th. The stock was sold at an average price of $125.49, for a total transaction of $11,625,142.62. Following the sale, the executive vice president owned 201,326 shares in the company, valued at approximately $25,264,399.74. The trade was a 31.51% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Steven J. Gomo sold 7,000 shares of the business's stock in a transaction dated Friday, June 27th. The shares were sold at an average price of $125.15, for a total value of $876,050.00. Following the completion of the sale, the director directly owned 22,762 shares of the company's stock, valued at $2,848,664.30. The trade was a 23.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 286,042 shares of company stock worth $34,679,277 over the last three months. Company insiders own 0.30% of the company's stock.

Micron Technology Price Performance

Shares of MU opened at $108.78 on Thursday. The firm has a market capitalization of $121.74 billion, a price-to-earnings ratio of 19.60 and a beta of 1.37. The firm's fifty day simple moving average is $115.16 and its 200-day simple moving average is $98.09. Micron Technology, Inc. has a twelve month low of $61.54 and a twelve month high of $129.85. 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 (NASDAQ:MU - Get Free Report) last released its quarterly earnings data 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. Micron Technology had a return on equity of 13.60% and a net margin of 18.41%. The business had revenue of $9.30 billion during the quarter, compared to analysts' expectations of $8.83 billion. During the same period in the prior year, the firm posted $0.62 EPS. Equities 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 was paid on Tuesday, July 22nd. Investors of record on Monday, July 7th were paid a dividend of $0.115 per share. This represents a $0.46 annualized dividend and a yield of 0.4%. The ex-dividend date was Monday, July 7th. Micron Technology's dividend payout ratio (DPR) is currently 8.29%.

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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