The Manufacturers Life Insurance Company Has $213.94 Million Position in Micron Technology, Inc. (NASDAQ:MU)

The Manufacturers Life Insurance Company increased its position in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) by 47.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,542,059 shares of the semiconductor manufacturer's stock after purchasing an additional 815,304 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.23% of Micron Technology worth $213,940,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of the business. Norges Bank acquired a new stake in Micron Technology in the 4th quarter valued at approximately $1,470,875,000. Capital World Investors grew its holdings in shares of Micron Technology by 63.7% during 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. FMR LLC boosted its stake in shares of Micron Technology by 34.6% during the fourth quarter. FMR LLC now owns 47,672,462 shares of the semiconductor manufacturer's stock worth $4,012,114,000 after buying an additional 12,249,341 shares during the period. Capital Research Global Investors boosted its holdings 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 acquiring an additional 9,489,579 shares in the last quarter. Finally, Capital International Investors lifted its stake 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 purchasing an additional 4,375,232 shares during the period. 80.84% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, EVP April S. Arnzen sold 15,000 shares of the stock in a transaction that occurred on Tuesday, March 25th. The stock was 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 owns 164,769 shares in the company, valued at approximately $15,847,482.42. This represents a 8.34 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Mary Pat Mccarthy sold 2,404 shares of the firm's stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $92.93, for a total transaction of $223,403.72. Following the completion of the transaction, the director now owns 27,358 shares in the company, valued at $2,542,378.94. The trade was a 8.08 % 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.

Analyst Ratings Changes

MU has been the subject of several recent analyst reports. KGI Securities upgraded Micron Technology to a "strong-buy" rating in a report on Friday, February 21st. Citigroup cut their price target on Micron Technology from $120.00 to $110.00 and set a "buy" rating on the stock in a report on Friday, April 11th. Royal Bank of Canada set a $125.00 target price on Micron Technology in a report on Wednesday, March 19th. Robert W. Baird boosted their price target on shares of Micron Technology from $130.00 to $163.00 and gave the company an "outperform" rating in a report on Friday, March 21st. Finally, UBS Group dropped their price target on shares of Micron Technology from $130.00 to $92.00 and set a "buy" rating on the stock in a research report on Monday. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $127.04.

Micron Technology Price Performance

Shares of Micron Technology stock traded up $0.07 during trading hours on Wednesday, reaching $76.95. 19,636,923 shares of the company's stock were exchanged, compared to its average volume of 23,286,861. The business has a fifty day moving average of $84.23 and a two-hundred day moving average of $94.38. The company has a market capitalization of $86.00 billion, a P/E ratio of 22.18 and a beta of 1.18. 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, Inc. has a 1 year low of $61.54 and a 1 year high of $157.54.

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

Micron Technology Dividend Announcement

The business also recently disclosed 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. This represents a $0.46 dividend on an annualized basis and a yield of 0.60%. The ex-dividend date was Monday, March 31st. Micron Technology's dividend payout ratio is presently 11.03%.

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.