Intact Investment Management Inc. acquired a new position in shares of Micron Technology, Inc. (NASDAQ:MU – Free Report) during the 1st quarter, according to its most recent filing with the SEC. The institutional investor acquired 3,050 shares of the semiconductor manufacturer’s stock, valued at approximately $184,000.
Several other large investors have also modified their holdings of MU. Caprock Group LLC acquired a new stake in Micron Technology during the 1st quarter worth approximately $899,000. D.B. Root & Company LLC acquired a new stake in Micron Technology in the first quarter valued at approximately $292,000. MGO One Seven LLC acquired a new stake in Micron Technology in the first quarter valued at approximately $371,000. SVB Wealth LLC grew its position in Micron Technology by 16.0% in the fourth quarter. SVB Wealth LLC now owns 20,593 shares of the semiconductor manufacturer’s stock valued at $1,029,000 after acquiring an additional 2,847 shares in the last quarter. Finally, SRS Capital Advisors Inc. grew its position in Micron Technology by 3.1% in the fourth quarter. SRS Capital Advisors Inc. now owns 6,204 shares of the semiconductor manufacturer’s stock valued at $310,000 after acquiring an additional 189 shares in the last quarter. 79.25% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
Several analysts have issued reports on the stock. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Micron Technology from $55.00 to $65.00 in a research report on Monday, June 12th. Citigroup raised their price target on shares of Micron Technology from $75.00 to $85.00 and gave the stock a “buy” rating in a research report on Thursday. Wolfe Research started coverage on shares of Micron Technology in a research report on Wednesday, July 19th. They set an “outperform” rating and a $80.00 price target for the company. Raymond James raised their price target on shares of Micron Technology from $70.00 to $76.00 in a research report on Thursday, June 29th. Finally, KeyCorp raised their price objective on Micron Technology from $70.00 to $80.00 in a research note on Thursday, June 29th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and twenty-three have assigned a buy rating to the company’s stock. According to MarketBeat.com, Micron Technology presently has an average rating of “Moderate Buy” and an average target price of $73.77.
Micron Technology Trading Up 0.4 %
Shares of MU opened at $70.18 on Monday. The business’s 50-day moving average price is $66.32 and its 200 day moving average price is $63.82. The stock has a market capitalization of $76.87 billion, a P/E ratio of -26.19 and a beta of 1.36. Micron Technology, Inc. has a 1-year low of $48.43 and a 1-year high of $74.77. The company has a current ratio of 4.26, a quick ratio of 2.64 and a debt-to-equity ratio of 0.29.
Micron Technology (NASDAQ:MU – Get Free Report) last announced its quarterly earnings data on Wednesday, June 28th. The semiconductor manufacturer reported ($1.43) EPS for the quarter, topping analysts’ consensus estimates of ($1.61) by $0.18. Micron Technology had a negative return on equity of 5.40% and a negative net margin of 16.02%. The firm had revenue of $3.75 billion during the quarter, compared to analyst estimates of $3.65 billion. During the same period last year, the company posted $2.50 EPS. The business’s quarterly revenue was down 56.6% compared to the same quarter last year. Analysts expect that Micron Technology, Inc. will post -5.07 earnings per share for the current year.
Micron Technology Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Tuesday, July 25th. Stockholders of record on Monday, July 10th were issued a dividend of $0.115 per share. The ex-dividend date of this dividend was Friday, July 7th. This represents a $0.46 annualized dividend and a dividend yield of 0.66%. Micron Technology’s dividend payout ratio is -17.16%.
In other news, SVP Michael W. Bokan sold 45,456 shares of Micron Technology stock in a transaction dated Thursday, July 27th. The stock was sold at an average price of $70.87, for a total transaction of $3,221,466.72. Following the completion of the sale, the senior vice president now directly owns 150,086 shares in the company, valued at approximately $10,636,594.82. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other Micron Technology news, SVP Michael W. Bokan sold 17,000 shares of Micron Technology stock in a transaction that occurred on Wednesday, August 16th. The stock was sold at an average price of $64.58, for a total value of $1,097,860.00. Following the transaction, the senior vice president now directly owns 133,177 shares of the company’s stock, valued at approximately $8,600,570.66. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Michael W. Bokan sold 45,456 shares of Micron Technology stock in a transaction that occurred on Thursday, July 27th. The stock was sold at an average price of $70.87, for a total value of $3,221,466.72. Following the completion of the transaction, the senior vice president now directly owns 150,086 shares in the company, valued at $10,636,594.82. The disclosure for this sale can be found here. Insiders sold a total of 219,810 shares of company stock worth $15,079,920 in the last three months. 0.33% of the stock is owned by insiders.
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 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.
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