Rakuten Securities Inc. Makes New $947,000 Investment in Micron Technology, Inc. (NASDAQ:MU)

Rakuten Securities Inc. acquired a new position in Micron Technology, Inc. (NASDAQ:MU - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 11,091 shares of the semiconductor manufacturer's stock, valued at approximately $947,000. Micron Technology makes up 0.7% of Rakuten Securities Inc.'s holdings, making the stock its 25th largest holding.

A number of other institutional investors and hedge funds also recently made changes to their positions in MU. Fortis Capital Advisors LLC purchased a new stake in shares of Micron Technology in the fourth quarter worth $25,000. OFI Invest Asset Management purchased a new stake in Micron Technology during the third quarter valued at about $27,000. Annis Gardner Whiting Capital Advisors LLC purchased a new stake in Micron Technology during the third quarter valued at about $28,000. Coppell Advisory Solutions LLC purchased a new stake in Micron Technology during the second quarter valued at about $32,000. Finally, VisionPoint Advisory Group LLC raised its position in Micron Technology by 68.3% during the third quarter. VisionPoint Advisory Group LLC now owns 488 shares of the semiconductor manufacturer's stock valued at $33,000 after purchasing an additional 198 shares in the last quarter. Hedge funds and other institutional investors own 80.84% of the company's stock.

Insider Activity

In other news, CEO Sanjay Mehrotra sold 45,000 shares of Micron Technology stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of $130.00, for a total transaction of $5,850,000.00. Following the completion of the transaction, the chief executive officer now directly owns 728,557 shares in the company, valued at $94,712,410. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, EVP April S. Arnzen sold 4,890 shares of the business's stock in a transaction that occurred on Wednesday, March 27th. The shares were sold at an average price of $119.30, for a total value of $583,377.00. Following the completion of the transaction, the executive vice president now directly owns 148,817 shares in the company, valued at approximately $17,753,868.10. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Sanjay Mehrotra sold 45,000 shares of the business's stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of $130.00, for a total transaction of $5,850,000.00. Following the completion of the transaction, the chief executive officer now owns 728,557 shares of the company's stock, valued at $94,712,410. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 313,890 shares of company stock worth $33,617,027. Insiders own 0.32% of the company's stock.

Wall Street Analyst Weigh In

MU has been the topic of a number of research reports. The Goldman Sachs Group raised their price target on Micron Technology from $85.00 to $97.00 and gave the company a "buy" rating in a research report on Thursday, December 21st. JPMorgan Chase & Co. raised their price target on Micron Technology from $105.00 to $130.00 and gave the company an "overweight" rating in a research report on Thursday, March 21st. Morgan Stanley raised their price target on Micron Technology from $78.00 to $98.00 and gave the company an "underweight" rating in a research report on Thursday, March 21st. UBS Group raised their price target on Micron Technology from $95.00 to $120.00 and gave the company a "buy" rating in a research report on Tuesday, March 19th. Finally, Rosenblatt Securities reaffirmed a "buy" rating and set a $140.00 price objective on shares of Micron Technology in a research note on Monday, March 18th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-four have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $122.20.

Micron Technology Stock Down 4.5 %

Shares of MU stock traded down $5.44 during trading hours on Wednesday, hitting $116.33. 25,388,117 shares of the company's stock traded hands, compared to its average volume of 20,300,941. The stock's fifty day simple moving average is $101.98 and its two-hundred day simple moving average is $86.22. Micron Technology, Inc. has a 12-month low of $58.03 and a 12-month high of $130.54. The stock has a market cap of $128.82 billion, a price-to-earnings ratio of -33.72 and a beta of 1.27. The company has a quick ratio of 2.40, a current ratio of 3.74 and a debt-to-equity ratio of 0.30.

Micron Technology (NASDAQ:MU - Get Free Report) last released its earnings results on Wednesday, March 20th. The semiconductor manufacturer reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.27) by $0.69. Micron Technology had a negative net margin of 20.57% and a negative return on equity of 8.98%. The firm had revenue of $5.82 billion during the quarter, compared to analyst estimates of $5.35 billion. During the same period last year, the business earned ($2.03) earnings per share. The business's revenue was up 57.7% on a year-over-year basis. On average, analysts expect that Micron Technology, Inc. will post 0.24 EPS for the current year.

Micron Technology Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 16th. Stockholders of record on Monday, April 1st were issued a dividend of $0.115 per share. The ex-dividend date of this dividend was Thursday, March 28th. This represents a $0.46 annualized dividend and a dividend yield of 0.40%. Micron Technology's payout ratio is -13.33%.

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.