Vanguard Capital Wealth Advisors cut its holdings in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 39.7% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 3,800 shares of the semiconductor manufacturer's stock after selling 2,500 shares during the quarter. Vanguard Capital Wealth Advisors' holdings in Micron Technology were worth $330,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds have also made changes to their positions in the company. Norges Bank purchased a new stake in shares of Micron Technology in the fourth quarter valued at about $1,470,875,000. Capital World Investors raised its stake in Micron Technology by 63.7% during the fourth quarter. Capital World Investors now owns 41,096,391 shares of the semiconductor manufacturer's stock worth $3,458,673,000 after purchasing an additional 15,993,036 shares during the period. FMR LLC raised its stake in Micron Technology by 34.6% during the fourth quarter. FMR LLC now owns 47,672,462 shares of the semiconductor manufacturer's stock worth $4,012,114,000 after purchasing an additional 12,249,341 shares during the period. Capital Research Global Investors raised its stake in Micron Technology by 139.7% during the fourth quarter. Capital Research Global Investors now owns 16,281,620 shares of the semiconductor manufacturer's stock worth $1,370,280,000 after purchasing an additional 9,489,579 shares during the period. Finally, Capital International Investors raised its stake in shares of Micron Technology by 36.3% in the 4th quarter. Capital International Investors now owns 16,437,080 shares of the semiconductor manufacturer's stock valued at $1,383,442,000 after acquiring an additional 4,375,232 shares during the period. 80.84% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
MU has been the subject of several recent analyst reports. Citigroup decreased their price objective on shares of Micron Technology from $120.00 to $110.00 and set a "buy" rating for the company in a report on Friday, April 11th. Wall Street Zen downgraded shares of Micron Technology from a "buy" rating to a "hold" rating in a research report on Saturday, May 24th. Cantor Fitzgerald restated an "overweight" rating and set a $130.00 price target on shares of Micron Technology in a research report on Friday, March 21st. Wedbush restated an "underperform" rating on shares of Micron Technology in a research report on Monday, April 28th. Finally, Royal Bank of Canada set a $125.00 target price on shares of Micron Technology in a report on Wednesday, March 19th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Micron Technology currently has a consensus rating of "Moderate Buy" and an average price target of $128.20.
Read Our Latest Analysis on MU
Insider Buying and Selling
In other Micron Technology news, EVP April S. Arnzen sold 15,000 shares of the business's stock in a transaction that occurred on Tuesday, March 25th. The stock was sold at an average price of $96.18, for a total value of $1,442,700.00. Following the completion of the sale, the executive vice president now owns 164,769 shares in the company, valued at approximately $15,847,482.42. The trade was a 8.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Mary Pat Mccarthy sold 2,404 shares of the business's stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $80.00, for a total value of $192,320.00. Following the completion of the sale, the director now owns 24,954 shares of the company's stock, valued at $1,996,320. The trade was a 8.79% decrease in their position. The disclosure for this sale can be found here. 0.30% of the stock is currently owned by insiders.
Micron Technology Trading Up 2.1%
Shares of MU stock traded up $2.27 during trading hours on Friday, hitting $108.56. 20,687,183 shares of the company were exchanged, compared to its average volume of 23,633,876. The firm has a market cap of $121.32 billion, a P/E ratio of 31.29 and a beta of 1.28. Micron Technology, Inc. has a fifty-two week low of $61.54 and a fifty-two week high of $157.54. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.75 and a current ratio of 2.72. The company has a 50 day simple moving average of $83.97 and a two-hundred day simple moving average of $92.13.
Micron Technology (NASDAQ:MU - Get Free Report) last issued its earnings results on Thursday, March 20th. The semiconductor manufacturer reported $1.56 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.43 by $0.13. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. The company had revenue of $8.05 billion for the quarter, compared to analysts' expectations of $7.93 billion. During the same period last year, the business earned $0.42 EPS. Micron Technology's quarterly revenue was up 38.2% compared to the same quarter last year. Equities analysts anticipate that Micron Technology, Inc. will post 6.08 EPS for the current year.
Micron Technology Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were issued a $0.115 dividend. This represents a $0.46 annualized dividend and a yield of 0.42%. The ex-dividend date was Monday, March 31st. Micron Technology's dividend payout ratio (DPR) is currently 11.03%.
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.
Further Reading
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