Micron Technology, Inc. (NASDAQ:MU) Shares Acquired by Capital International Sarl

Capital International Sarl raised its holdings in shares of Micron Technology, Inc. (NASDAQ:MUGet Rating) by 35.4% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 61,099 shares of the semiconductor manufacturer’s stock after acquiring an additional 15,971 shares during the quarter. Capital International Sarl’s holdings in Micron Technology were worth $4,759,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Ritholtz Wealth Management lifted its holdings in shares of Micron Technology by 3.0% in the 1st quarter. Ritholtz Wealth Management now owns 6,520 shares of the semiconductor manufacturer’s stock valued at $508,000 after purchasing an additional 187 shares during the last quarter. Cooper Financial Group raised its stake in Micron Technology by 18.4% during the 1st quarter. Cooper Financial Group now owns 2,922 shares of the semiconductor manufacturer’s stock valued at $228,000 after acquiring an additional 454 shares during the last quarter. Cetera Advisors LLC raised its stake in shares of Micron Technology by 9.3% during the 1st quarter. Cetera Advisors LLC now owns 40,237 shares of the semiconductor manufacturer’s stock worth $3,134,000 after buying an additional 3,433 shares in the last quarter. Mather Group LLC. raised its stake in shares of Micron Technology by 6.5% during the 4th quarter. Mather Group LLC. now owns 3,728 shares of the semiconductor manufacturer’s stock worth $347,000 after buying an additional 226 shares in the last quarter. Finally, Wedbush Securities Inc. raised its stake in shares of Micron Technology by 15.5% during the 1st quarter. Wedbush Securities Inc. now owns 19,404 shares of the semiconductor manufacturer’s stock worth $1,511,000 after buying an additional 2,606 shares in the last quarter. 79.66% of the stock is owned by hedge funds and other institutional investors.

Micron Technology Trading Down 1.0 %

Shares of MU opened at $53.11 on Thursday. The company has a current ratio of 3.24, a quick ratio of 2.44 and a debt-to-equity ratio of 0.14. The firm has a market capitalization of $58.59 billion, a P/E ratio of 6.06, a price-to-earnings-growth ratio of 0.83 and a beta of 1.30. The stock’s fifty day simple moving average is $59.92 and its 200 day simple moving average is $66.86. Micron Technology, Inc. has a twelve month low of $51.40 and a twelve month high of $98.45.

Micron Technology (NASDAQ:MUGet Rating) last issued its earnings results on Thursday, June 30th. The semiconductor manufacturer reported $2.50 earnings per share for the quarter, topping the consensus estimate of $2.33 by $0.17. The business had revenue of $8.64 billion for the quarter, compared to analyst estimates of $8.66 billion. Micron Technology had a return on equity of 21.91% and a net margin of 30.61%. The business’s quarterly revenue was up 16.4% on a year-over-year basis. During the same period last year, the company posted $1.81 EPS. On average, equities research analysts forecast that Micron Technology, Inc. will post 8 earnings per share for the current year.

Micron Technology Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 26th. Shareholders of record on Monday, July 11th were given a $0.115 dividend. The ex-dividend date was Friday, July 8th. This is a positive change from Micron Technology’s previous quarterly dividend of $0.10. This represents a $0.46 annualized dividend and a yield of 0.87%. Micron Technology’s dividend payout ratio (DPR) is 5.25%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. BMO Capital Markets cut their target price on Micron Technology from $115.00 to $85.00 and set an “outperform” rating for the company in a research note on Monday, June 27th. Cowen lowered their price target on Micron Technology from $90.00 to $70.00 and set an “outperform” rating on the stock in a report on Friday, July 1st. Morgan Stanley cut Micron Technology from an “equal weight” rating to an “underweight” rating and set a $56.00 price target on the stock. in a report on Friday, July 22nd. Robert W. Baird lowered their price target on Micron Technology from $90.00 to $60.00 and set a “neutral” rating on the stock in a report on Friday, July 1st. Finally, StockNews.com upgraded Micron Technology from a “hold” rating to a “buy” rating in a report on Wednesday, September 7th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and twenty-five have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $85.71.

Insider Buying and Selling at Micron Technology

In other Micron Technology news, SVP Michael W. Bokan sold 16,600 shares of the firm’s stock in a transaction dated Tuesday, August 16th. The stock was sold at an average price of $63.82, for a total value of $1,059,412.00. Following the transaction, the senior vice president now directly owns 119,126 shares of the company’s stock, valued at $7,602,621.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.32% of the stock is currently owned by corporate insiders.

About Micron Technology

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Micron Technology, Inc designs, manufactures, and sells memory and storage products worldwide. The company operates through four segments: Compute and Networking Business Unit, Mobile Business Unit, Storage Business Unit, and Embedded Business Unit. It provides memory and storage technologies comprises DRAM products, which are dynamic random access memory semiconductor devices with low latency that provide high-speed data retrieval; NAND products that are non-volatile and re-writeable semiconductor storage devices; and NOR memory products, which are non-volatile re-writable semiconductor memory devices that provide fast read speeds under the Micron and Crucial brands, as well as through private labels.

Further Reading

Institutional Ownership by Quarter for Micron Technology (NASDAQ:MU)

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