Janus Henderson Group PLC Acquires 1,130,680 Shares of Micron Technology, Inc. (NASDAQ:MU)

Janus Henderson Group PLC grew its stake in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) by 74.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,646,936 shares of the semiconductor manufacturer's stock after buying an additional 1,130,680 shares during the period. Janus Henderson Group PLC owned approximately 0.24% of Micron Technology worth $222,779,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of MU. E Fund Management Co. Ltd. raised its position in Micron Technology by 31.8% in the 4th quarter. E Fund Management Co. Ltd. now owns 36,378 shares of the semiconductor manufacturer's stock valued at $3,062,000 after buying an additional 8,780 shares during the last quarter. CIBC Private Wealth Group LLC lifted its position in shares of Micron Technology by 43.0% in the fourth quarter. CIBC Private Wealth Group LLC now owns 14,178 shares of the semiconductor manufacturer's stock worth $1,193,000 after purchasing an additional 4,264 shares in the last quarter. Stablepoint Partners LLC acquired a new position in Micron Technology during the fourth quarter worth $569,000. Landscape Capital Management L.L.C. grew its position in Micron Technology by 167.0% in the fourth quarter. Landscape Capital Management L.L.C. now owns 45,758 shares of the semiconductor manufacturer's stock valued at $3,851,000 after purchasing an additional 28,621 shares in the last quarter. Finally, Duquesne Family Office LLC bought a new stake in Micron Technology during the 4th quarter worth about $34,412,000. 80.84% of the stock is currently owned by institutional investors and hedge funds.

Micron Technology Trading Up 5.0%

NASDAQ MU traded up $4.64 on Tuesday, hitting $96.93. The company's stock had a trading volume of 27,949,262 shares, compared to its average volume of 23,389,058. The company's 50-day moving average is $82.58 and its 200 day moving average is $92.78. The firm has a market cap of $108.33 billion, a PE ratio of 27.93 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 company has a quick ratio of 1.75, a current ratio of 2.72 and a debt-to-equity ratio of 0.28.

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

Micron Technology Announces Dividend

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

Insider Transactions at Micron Technology

In related news, Director Mary Pat Mccarthy sold 2,404 shares of the business's stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $80.00, for a total value of $192,320.00. Following the transaction, the director now directly owns 24,954 shares of the company's stock, valued at approximately $1,996,320. The trade was a 8.79% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP April S. Arnzen sold 15,000 shares of the firm's stock in a transaction dated 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 trade represents a 8.34% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 19,808 shares of company stock valued at $1,858,424 in the last 90 days. 0.30% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on MU. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $130.00 price target on shares of Micron Technology in a research report on Friday, March 21st. Wells Fargo & Company reaffirmed an "equal weight" rating on shares of Micron Technology in a research report on Monday, April 28th. Barclays cut their price target on shares of Micron Technology from $115.00 to $95.00 and set an "overweight" rating for the company in a research note on Tuesday, April 22nd. Wedbush reaffirmed an "underperform" rating on shares of Micron Technology in a report on Monday, April 28th. Finally, Royal Bank of Canada set a $125.00 price target on Micron Technology in a report on Wednesday, March 19th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, Micron Technology has a consensus rating of "Moderate Buy" and a consensus target price of $126.48.

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.