Sumitomo Mitsui DS Asset Management Company Ltd Acquires 7,478 Shares of Micron Technology, Inc. (NASDAQ:MU)

Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 5.6% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 140,804 shares of the semiconductor manufacturer's stock after purchasing an additional 7,478 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd's holdings in Micron Technology were worth $12,234,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the stock. Vanguard Group Inc. increased 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 worth $8,403,982,000 after buying an additional 888,087 shares in the last quarter. FMR LLC increased 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 worth $4,012,114,000 after buying an additional 12,249,341 shares in the last quarter. Capital World Investors increased 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 worth $3,458,673,000 after buying an additional 15,993,036 shares in the last quarter. Geode Capital Management LLC increased 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 worth $2,052,973,000 after buying an additional 726,282 shares in the last quarter. Finally, Norges Bank purchased a new position in shares of Micron Technology during the fourth quarter valued at about $1,470,875,000. 80.84% of the stock is owned by institutional investors.

Micron Technology Trading Up 0.2%

NASDAQ MU traded up $0.29 during trading on Friday, hitting $122.03. The stock had a trading volume of 13,247,931 shares, compared to its average volume of 23,307,873. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.89 and a current ratio of 2.75. The stock has a market capitalization of $136.56 billion, a price-to-earnings ratio of 21.99 and a beta of 1.35. Micron Technology, Inc. has a one year low of $61.54 and a one year high of $136.50. The stock has a 50 day simple moving average of $103.57 and a 200 day simple moving average of $94.80.

Micron Technology (NASDAQ:MU - Get Free Report) last announced 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. The business had revenue of $9.30 billion during the quarter, compared to the consensus estimate of $8.83 billion. Micron Technology had a net margin of 18.41% and a return on equity of 13.60%. During the same quarter last year, the firm earned $0.62 earnings per share. Sell-side analysts predict that Micron Technology, Inc. will post 6.08 earnings per share for the current year.

Micron Technology Announces Dividend

The company also recently declared 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. The ex-dividend date of this dividend is Monday, July 7th. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.38%. Micron Technology's payout ratio is 8.29%.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on MU. Rosenblatt Securities raised their price objective on Micron Technology from $172.00 to $200.00 and gave the company a "buy" rating in a research report on Monday, June 23rd. Barclays raised their price objective on Micron Technology from $95.00 to $140.00 and gave the company an "overweight" rating in a research report on Thursday, June 26th. Stifel Nicolaus raised their price objective on Micron Technology from $130.00 to $145.00 and gave the company a "buy" rating in a research report on Thursday, June 26th. Royal Bank Of Canada set a $125.00 price objective on Micron Technology in a research report on Wednesday, March 19th. Finally, JPMorgan Chase & Co. raised their price objective on Micron Technology from $135.00 to $165.00 and gave the company an "overweight" rating in a research report on Thursday, June 26th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $146.21.

Insider Transactions at Micron Technology

In related news, EVP Manish H. Bhatia sold 80,000 shares of the business's stock in a transaction that occurred on Monday, June 30th. The stock was sold at an average price of $123.16, for a total value of $9,852,800.00. Following the completion of the sale, the executive vice president owned 275,067 shares in the company, valued at approximately $33,877,251.72. The trade was a 22.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Sumit Sadana sold 92,638 shares of the business's stock in a transaction that occurred on Friday, June 27th. The shares were sold at an average price of $125.49, for a total value of $11,625,142.62. Following the completion of the sale, the executive vice president owned 201,326 shares of the company's stock, valued at $25,264,399.74. The trade was a 31.51% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 254,446 shares of company stock valued at $31,154,717 in the last ninety days. Corporate insiders own 0.30% of the company's stock.

Micron Technology Company 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.