MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Grows Position in Micron Technology, Inc. (NASDAQ:MU)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) by 6.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,384,710 shares of the semiconductor manufacturer's stock after buying an additional 86,921 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned approximately 0.12% of Micron Technology worth $116,630,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. Vanguard Group Inc. boosted its position in Micron Technology by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 99,857,205 shares of the semiconductor manufacturer's stock worth $8,403,982,000 after purchasing an additional 888,087 shares during the last quarter. FMR LLC boosted its position in Micron Technology by 34.6% in 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 last quarter. Capital World Investors boosted its position 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 worth $3,458,673,000 after purchasing an additional 15,993,036 shares during the last quarter. Geode Capital Management LLC boosted its position in Micron Technology by 3.1% in the fourth quarter. Geode Capital Management LLC now owns 24,449,827 shares of the semiconductor manufacturer's stock worth $2,052,973,000 after purchasing an additional 726,282 shares during the last quarter. Finally, Norges Bank purchased a new position in Micron Technology in the fourth quarter worth about $1,470,875,000. 80.84% of the stock is owned by hedge funds and other institutional investors.

Micron Technology Price Performance

Shares of MU stock opened at $85.86 on Monday. Micron Technology, Inc. has a twelve month low of $61.54 and a twelve month high of $157.54. The stock has a market capitalization of $95.95 billion, a price-to-earnings ratio of 24.74 and a beta of 1.21. The stock has a fifty day simple moving average of $82.62 and a two-hundred day simple moving average of $92.89. The company has a current ratio of 2.72, a quick ratio of 1.75 and a debt-to-equity ratio of 0.28.

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 for the quarter, topping the consensus estimate of $1.43 by $0.13. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. The business had revenue of $8.05 billion during the quarter, compared to analysts' expectations of $7.93 billion. During the same period in the prior year, the business earned $0.42 EPS. The business's revenue for the quarter was up 38.2% compared to the same quarter last year. On average, analysts predict that Micron Technology, Inc. will post 6.08 EPS for the current fiscal year.

Micron Technology Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were issued a $0.115 dividend. This represents a $0.46 annualized dividend and a dividend yield of 0.54%. The ex-dividend date was Monday, March 31st. Micron Technology's dividend payout ratio is 11.03%.

Insiders Place Their Bets

In related news, Director Mary Pat Mccarthy sold 2,404 shares of the firm's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $92.93, for a total transaction of $223,403.72. Following the sale, the director now owns 27,358 shares of the company's stock, valued at $2,542,378.94. This trade represents a 8.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP April S. Arnzen sold 15,000 shares of the firm's stock in a transaction dated Tuesday, March 25th. The shares were sold at an average price of $96.18, for a total value of $1,442,700.00. Following the sale, the executive vice president now directly owns 164,769 shares in the company, valued at approximately $15,847,482.42. The trade was a 8.34% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 19,808 shares of company stock worth $1,858,424. 0.30% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

MU has been the topic of a number of analyst reports. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $130.00 price objective on shares of Micron Technology in a research report on Friday, March 21st. Barclays lowered their price objective 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. Royal Bank of Canada set a $125.00 price objective on Micron Technology in a research report on Wednesday, March 19th. Morgan Stanley lowered their price objective on Micron Technology from $112.00 to $98.00 and set an "equal weight" rating on the stock in a research report on Wednesday, May 7th. Finally, JPMorgan Chase & Co. lowered their price objective on Micron Technology from $145.00 to $135.00 and set an "overweight" rating on the stock in a research report on Friday, March 21st. Two analysts have rated the stock with a sell rating, four have given a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Micron Technology presently has an average rating of "Moderate Buy" and a consensus target price of $126.48.

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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