Mirae Asset Global Investments Co. Ltd. boosted its stake in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 5.0% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,418,191 shares of the semiconductor manufacturer's stock after buying an additional 67,180 shares during the period. Mirae Asset Global Investments Co. Ltd. owned 0.13% of Micron Technology worth $124,462,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also bought and sold shares of the stock. Xcel Wealth Management LLC raised its position in Micron Technology by 1.8% in the 4th quarter. Xcel Wealth Management LLC now owns 6,157 shares of the semiconductor manufacturer's stock worth $518,000 after purchasing an additional 108 shares during the period. Bay Colony Advisory Group Inc d b a Bay Colony Advisors raised its position in Micron Technology by 3.8% in the 4th quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 2,973 shares of the semiconductor manufacturer's stock worth $250,000 after purchasing an additional 108 shares during the period. Twin Capital Management Inc. raised its position in Micron Technology by 0.5% in the 4th quarter. Twin Capital Management Inc. now owns 20,062 shares of the semiconductor manufacturer's stock worth $1,688,000 after purchasing an additional 108 shares during the period. Cim Investment Management Inc. raised its position in Micron Technology by 0.5% in the 4th quarter. Cim Investment Management Inc. now owns 23,062 shares of the semiconductor manufacturer's stock worth $1,941,000 after purchasing an additional 114 shares during the period. Finally, Hazlett Burt & Watson Inc. raised its position in Micron Technology by 1.1% in the 4th quarter. Hazlett Burt & Watson Inc. now owns 10,481 shares of the semiconductor manufacturer's stock worth $883,000 after purchasing an additional 119 shares during the period. 80.84% of the stock is currently owned by hedge funds and other institutional investors.
Micron Technology Stock Performance
Shares of NASDAQ MU traded down $1.24 during mid-day trading on Friday, hitting $124.76. The stock had a trading volume of 36,813,002 shares, compared to its average volume of 23,307,672. 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 company has a 50 day moving average of $98.71 and a two-hundred day moving average of $94.18. Micron Technology, Inc. has a twelve month low of $61.54 and a twelve month high of $137.13. The firm has a market cap of $139.43 billion, a PE ratio of 22.48 and a beta of 1.28.
Micron Technology (NASDAQ:MU - Get Free Report) last released its earnings results on Wednesday, June 25th. The semiconductor manufacturer reported $1.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.57 by $0.34. Micron Technology had a return on equity of 13.88% and a net margin of 18.41%. The firm had revenue of $9.30 billion for the quarter, compared to the consensus estimate of $8.83 billion. During the same period in the prior year, the firm earned $0.62 EPS. Research analysts predict that Micron Technology, Inc. will post 6.08 EPS for the current fiscal year.
Micron Technology Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 22nd. Shareholders of record on Monday, July 7th will be issued a $0.115 dividend. This represents a $0.46 annualized dividend and a yield of 0.37%. The ex-dividend date is Monday, July 7th. Micron Technology's payout ratio is 11.03%.
Insider Buying and Selling at Micron Technology
In other Micron Technology news, EVP Scott J. Deboer sold 20,000 shares of the company's stock in a transaction on Friday, June 6th. The shares were sold at an average price of $110.00, for a total value of $2,200,000.00. Following the sale, the executive vice president now directly owns 186,353 shares of the company's stock, valued at approximately $20,498,830. This represents a 9.69% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Mary Pat Mccarthy sold 2,404 shares of the stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $80.00, for a total transaction of $192,320.00. Following the sale, the director now directly owns 24,954 shares in the company, valued at approximately $1,996,320. The trade was a 8.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 72,404 shares of company stock valued at $8,509,167. 0.30% of the stock is owned by insiders.
Wall Street Analyst Weigh In
A number of research firms recently weighed in on MU. Citigroup increased their price objective on shares of Micron Technology from $130.00 to $150.00 and gave the stock a "buy" rating in a research report on Thursday. Bank of America lifted their price target on shares of Micron Technology from $84.00 to $140.00 and gave the company a "neutral" rating in a research note on Thursday. Wall Street Zen upgraded Micron Technology from a "hold" rating to a "buy" rating in a report on Saturday, June 14th. Mizuho boosted their price target on Micron Technology from $124.00 to $130.00 and gave the company an "outperform" rating in a report on Thursday, June 5th. Finally, Wells Fargo & Company boosted their price target on Micron Technology from $150.00 to $170.00 and gave the company an "overweight" rating in a report on Thursday. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $146.21.
Check Out Our Latest Stock Analysis on MU
About Micron Technology
(
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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