Price T Rowe Associates Inc. MD Purchases 4,352,225 Shares of Micron Technology, Inc. (NASDAQ:MU)

Price T Rowe Associates Inc. MD raised its position in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 198.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,545,882 shares of the semiconductor manufacturer's stock after buying an additional 4,352,225 shares during the period. Price T Rowe Associates Inc. MD owned 0.59% of Micron Technology worth $550,903,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in MU. SOA Wealth Advisors LLC. lifted its position in shares of Micron Technology by 37.6% during the third quarter. SOA Wealth Advisors LLC. now owns 1,189 shares of the semiconductor manufacturer's stock worth $123,000 after purchasing an additional 325 shares in the last quarter. SkyView Investment Advisors LLC boosted its position in Micron Technology by 3.7% in the 3rd quarter. SkyView Investment Advisors LLC now owns 6,696 shares of the semiconductor manufacturer's stock valued at $694,000 after buying an additional 241 shares during the last quarter. Pine Valley Investments Ltd Liability Co increased its stake in shares of Micron Technology by 524.2% in the 3rd quarter. Pine Valley Investments Ltd Liability Co now owns 14,863 shares of the semiconductor manufacturer's stock valued at $1,541,000 after buying an additional 12,482 shares during the period. World Investment Advisors LLC boosted its holdings in Micron Technology by 103.7% in the third quarter. World Investment Advisors LLC now owns 3,315 shares of the semiconductor manufacturer's stock valued at $344,000 after acquiring an additional 1,688 shares during the last quarter. Finally, Arvest Bank Trust Division acquired a new stake in Micron Technology during the 3rd quarter worth $21,406,000. 80.84% of the stock is owned by institutional investors.

Insider Transactions at Micron Technology

In related news, Director Mary Pat Mccarthy sold 2,404 shares of the company's stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $92.93, for a total value of $223,403.72. Following the transaction, the director now directly owns 27,358 shares in the company, valued at approximately $2,542,378.94. This represents a 8.08 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 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 transaction, the executive vice president now directly owns 164,769 shares in the company, valued at $15,847,482.42. This trade represents a 8.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.30% of the company's stock.

Micron Technology Stock Performance

Shares of Micron Technology stock traded down $1.48 during trading hours on Tuesday, hitting $77.08. 6,831,359 shares of the company's stock traded hands, compared to its average volume of 23,192,704. The company has a fifty day simple moving average of $85.19 and a 200-day simple moving average of $94.62. Micron Technology, Inc. has a 12-month low of $61.54 and a 12-month high of $157.54. The stock has a market capitalization of $86.15 billion, a price-to-earnings ratio of 22.17 and a beta of 1.18. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.72 and a quick ratio of 1.75.

Micron Technology (NASDAQ:MU - Get Free Report) last released its quarterly earnings data on Thursday, March 20th. The semiconductor manufacturer reported $1.56 EPS for the quarter, beating the consensus estimate of $1.43 by $0.13. The business had revenue of $8.05 billion for 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% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.42 earnings per share. Equities research analysts anticipate that Micron Technology, Inc. will post 6.08 EPS for the current fiscal year.

Micron Technology Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders 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 annualized dividend and a dividend yield of 0.60%. Micron Technology's dividend payout ratio is currently 11.03%.

Analyst Ratings Changes

A number of analysts have recently commented on the company. JPMorgan Chase & Co. lowered their price target on Micron Technology from $145.00 to $135.00 and set an "overweight" rating for the company in a research note on Friday, March 21st. Morgan Stanley raised their price target on shares of Micron Technology from $91.00 to $112.00 and gave the stock an "equal weight" rating in a research note on Friday, March 21st. Wells Fargo & Company reissued an "equal weight" rating on shares of Micron Technology in a research report on Monday. UBS Group lowered their target price on Micron Technology from $130.00 to $92.00 and set a "buy" rating on the stock in a research note on Monday. Finally, Royal Bank of Canada set a $125.00 target price on shares of Micron Technology in a research report on Wednesday, March 19th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Micron Technology currently has a consensus rating of "Moderate Buy" and an average target price of $127.04.

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.