Woodline Partners LP Acquires 486,931 Shares of Micron Technology, Inc. (NASDAQ:MU)

Woodline Partners LP increased its position in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) by 128.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 865,041 shares of the semiconductor manufacturer's stock after acquiring an additional 486,931 shares during the quarter. Woodline Partners LP owned about 0.08% of Micron Technology worth $72,802,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the company. Norges Bank bought a new position in shares of Micron Technology during the fourth quarter worth about $1,470,875,000. Capital World Investors grew its stake in Micron Technology by 63.7% in the fourth quarter. Capital World Investors now owns 41,096,391 shares of the semiconductor manufacturer's stock valued at $3,458,673,000 after purchasing an additional 15,993,036 shares in the last quarter. FMR LLC raised its holdings in shares of 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 purchasing an additional 12,249,341 shares during the period. Capital Research Global Investors lifted its position in shares of Micron Technology by 139.7% in the fourth quarter. Capital Research Global Investors now owns 16,281,620 shares of the semiconductor manufacturer's stock valued at $1,370,280,000 after buying an additional 9,489,579 shares during the last quarter. Finally, Capital International Investors lifted its position in shares of Micron Technology by 36.3% in the fourth quarter. Capital International Investors now owns 16,437,080 shares of the semiconductor manufacturer's stock valued at $1,383,442,000 after buying an additional 4,375,232 shares during the last quarter. Institutional investors and hedge funds own 80.84% of the company's stock.

Analysts Set New Price Targets

MU has been the subject of several research reports. China Renaissance cut Micron Technology from a "buy" rating to a "hold" rating and set a $84.00 price target for the company. in a report on Wednesday, March 26th. KGI Securities upgraded Micron Technology to a "strong-buy" rating in a research note on Friday, February 21st. Wells Fargo & Company restated an "equal weight" rating on shares of Micron Technology in a research report on Monday, April 28th. Cantor Fitzgerald restated an "overweight" rating and set a $130.00 price objective on shares of Micron Technology in a research report on Friday, March 21st. Finally, Barclays reduced their price target on Micron Technology from $115.00 to $95.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 22nd. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $126.48.

Micron Technology Stock Up 0.7%

Shares of NASDAQ MU opened at $98.65 on Tuesday. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.72 and a quick ratio of 1.75. The company has a market cap of $110.25 billion, a P/E ratio of 28.43 and a beta of 1.21. Micron Technology, Inc. has a 1 year low of $61.54 and a 1 year high of $157.54. The firm has a 50-day simple moving average of $83.19 and a two-hundred day simple moving average of $92.55.

Micron Technology (NASDAQ:MU - Get Free Report) last posted its quarterly earnings results on Thursday, March 20th. The semiconductor manufacturer reported $1.56 earnings per share for the quarter, beating the consensus estimate of $1.43 by $0.13. The firm 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 company's revenue was up 38.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.42 earnings per share. Research analysts anticipate that Micron Technology, Inc. will post 6.08 earnings per share for the current year.

Micron Technology Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were given a dividend of $0.115 per share. The ex-dividend date of this dividend was Monday, March 31st. This represents a $0.46 dividend on an annualized basis and a yield of 0.47%. Micron Technology's dividend payout ratio is presently 11.03%.

Insider Activity at Micron Technology

In other news, Director Mary Pat Mccarthy sold 2,404 shares of the firm'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 transaction of $192,320.00. Following the completion of the sale, the director now owns 24,954 shares in the company, valued at $1,996,320. This trade represents a 8.79% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP April S. Arnzen sold 15,000 shares of the firm'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 transaction of $1,442,700.00. Following the sale, the executive vice president now 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. Insiders sold 19,808 shares of company stock worth $1,858,424 over the last three months. Company 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.

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