Novem Group Makes New Investment in Micron Technology, Inc. (NASDAQ:MU)

Novem Group bought a new stake in Micron Technology, Inc. (NASDAQ:MU - Free Report) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor bought 7,205 shares of the semiconductor manufacturer's stock, valued at approximately $606,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. Vanguard Group Inc. grew its stake in Micron Technology by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 99,857,205 shares of the semiconductor manufacturer's stock valued at $8,403,982,000 after buying an additional 888,087 shares during the last quarter. FMR LLC grew its stake in Micron Technology by 34.6% in the 4th quarter. FMR LLC now owns 47,672,462 shares of the semiconductor manufacturer's stock valued at $4,012,114,000 after buying an additional 12,249,341 shares during the last quarter. Capital World Investors grew its stake 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 during the last quarter. Geode Capital Management LLC grew its stake in 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 valued at $2,052,973,000 after buying an additional 726,282 shares during the last quarter. Finally, Norges Bank acquired a new position in Micron Technology in the 4th quarter valued at about $1,470,875,000. 80.84% of the stock is owned by institutional investors.

Insider Activity

In related news, Director Mary Pat Mccarthy sold 2,404 shares of Micron Technology stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $80.00, for a total transaction of $192,320.00. Following the completion of the transaction, the director now owns 24,954 shares of the company's stock, valued at $1,996,320. This trade represents a 8.79% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP April S. Arnzen sold 15,000 shares of Micron Technology stock in a transaction on Tuesday, March 25th. The stock was sold at an average price of $96.18, for a total transaction of $1,442,700.00. Following the transaction, the executive vice president now directly owns 164,769 shares of the company's stock, valued at $15,847,482.42. This represents a 8.34% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 19,808 shares of company stock valued at $1,858,424. Insiders own 0.30% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently commented on MU shares. KGI Securities upgraded shares of Micron Technology to a "strong-buy" rating in a research note on Friday, February 21st. Robert W. Baird upped their price target on shares of Micron Technology from $130.00 to $163.00 and gave the company an "outperform" rating in a research note on Friday, March 21st. Morgan Stanley decreased their price target on shares of Micron Technology from $112.00 to $98.00 and set an "equal weight" rating on the stock in a research note on Wednesday, May 7th. Royal Bank of Canada set a $125.00 price target on shares of Micron Technology in a research note on Wednesday, March 19th. Finally, Wedbush restated an "underperform" rating on shares of Micron Technology in a research report on Monday, April 28th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $126.48.

Micron Technology Price Performance

NASDAQ:MU traded down $1.46 on Friday, hitting $93.37. The company had a trading volume of 16,534,270 shares, compared to its average volume of 23,479,220. The stock has a market capitalization of $104.35 billion, a price-to-earnings ratio of 26.91 and a beta of 1.21. The company has a current ratio of 2.72, a quick ratio of 1.75 and a debt-to-equity ratio of 0.28. The firm has a 50 day moving average of $82.82 and a two-hundred day moving average of $92.48. Micron Technology, Inc. has a 52 week low of $61.54 and a 52 week high of $157.54.

Micron Technology (NASDAQ:MU - Get Free Report) last issued its quarterly earnings data on Thursday, March 20th. The semiconductor manufacturer reported $1.56 EPS for the quarter, beating the consensus estimate of $1.43 by $0.13. The business had revenue of $8.05 billion during the quarter, compared to the consensus estimate of $7.93 billion. Micron Technology had a net margin of 13.34% and a return on equity of 8.32%. The firm's revenue was up 38.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.42 EPS. On average, research analysts anticipate that Micron Technology, Inc. will post 6.08 earnings per share for the current year.

Micron Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were paid a dividend of $0.115 per share. This represents a $0.46 annualized dividend and a dividend yield of 0.49%. The ex-dividend date was Monday, March 31st. Micron Technology's payout ratio is currently 11.03%.

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.