Mondrian Investment Partners LTD boosted its position in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 42.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 507,751 shares of the semiconductor manufacturer's stock after purchasing an additional 150,106 shares during the period. Mondrian Investment Partners LTD's holdings in Micron Technology were worth $44,118,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors have also added to or reduced their stakes in MU. Central Asset Investments & Management Holdings HK Ltd bought a new stake in shares of Micron Technology during the first quarter valued at approximately $746,000. Clal Insurance Enterprises Holdings Ltd raised its stake in shares of Micron Technology by 7.8% during the first quarter. Clal Insurance Enterprises Holdings Ltd now owns 903,000 shares of the semiconductor manufacturer's stock valued at $78,566,000 after acquiring an additional 65,000 shares in the last quarter. Resona Asset Management Co. Ltd. raised its stake in shares of Micron Technology by 8.7% during the first quarter. Resona Asset Management Co. Ltd. now owns 344,695 shares of the semiconductor manufacturer's stock valued at $30,033,000 after acquiring an additional 27,482 shares in the last quarter. Rathbones Group PLC raised its stake in shares of Micron Technology by 1,245.2% during the first quarter. Rathbones Group PLC now owns 87,331 shares of the semiconductor manufacturer's stock valued at $7,588,000 after acquiring an additional 80,839 shares in the last quarter. Finally, Callan Family Office LLC raised its stake in shares of Micron Technology by 5.6% during the first quarter. Callan Family Office LLC now owns 12,575 shares of the semiconductor manufacturer's stock valued at $1,093,000 after acquiring an additional 670 shares in the last quarter. Institutional investors own 80.84% of the company's stock.
Analysts Set New Price Targets
MU has been the subject of a number of recent research reports. Robert W. Baird boosted their price objective on shares of Micron Technology from $163.00 to $200.00 and gave the stock an "outperform" rating in a research note on Friday, June 27th. Barclays lifted their price target on shares of Micron Technology from $95.00 to $140.00 and gave the stock an "overweight" rating in a report on Thursday, June 26th. Bank of America lifted their price target on shares of Micron Technology from $84.00 to $140.00 and gave the stock a "neutral" rating in a report on Thursday, June 26th. TD Cowen lifted their price target on shares of Micron Technology from $125.00 to $150.00 and gave the stock a "buy" rating in a report on Thursday, June 26th. Finally, 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 report on Thursday, June 26th. One analyst has rated the stock with a sell rating, five have issued a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $147.24.
Check Out Our Latest Stock Analysis on MU
Insider Buying and Selling
In other Micron Technology 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 in the company, valued at approximately $18,538,655.04. The trade was a 9.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Manish H. Bhatia sold 80,000 shares of Micron Technology stock in a transaction dated Monday, June 30th. The shares were sold at an average price of $123.16, for a total transaction of $9,852,800.00. Following the completion of the sale, the executive vice president directly owned 275,067 shares in the company, valued at approximately $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 286,042 shares of company stock valued at $34,679,277 in the last quarter. Corporate insiders own 0.30% of the company's stock.
Micron Technology Trading Down 2.7%
Shares of NASDAQ:MU traded down $3.48 during mid-day trading on Wednesday, reaching $124.27. 18,405,397 shares of the company were exchanged, compared to its average volume of 22,154,266. 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 market cap of $139.07 billion, a price-to-earnings ratio of 22.39 and a beta of 1.37. The firm's 50-day simple moving average is $117.39 and its 200 day simple moving average is $98.60. Micron Technology, Inc. has a 1 year low of $61.54 and a 1 year high of $129.85.
Micron Technology (NASDAQ:MU - Get Free Report) last posted its quarterly earnings data on Wednesday, June 25th. The semiconductor manufacturer reported $1.91 earnings per share for the quarter, topping 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 firm had revenue of $9.30 billion during the quarter, compared to analysts' expectations of $8.83 billion. During the same quarter last year, the company posted $0.62 EPS. Equities research analysts forecast that Micron Technology, Inc. will post 6.08 EPS for the current year.
Micron Technology Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 22nd. Shareholders of record on Monday, July 7th were paid a $0.115 dividend. The ex-dividend date was Monday, July 7th. This represents a $0.46 dividend on an annualized basis and a yield of 0.4%. Micron Technology's payout ratio is currently 8.29%.
Micron Technology Company Profile
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Free Report)
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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