Morningstar Investment Services LLC Invests $361,000 in Micron Technology, Inc. (NASDAQ:MU)

Morningstar Investment Services LLC acquired a new position in shares of Micron Technology, Inc. (NASDAQ:MUFree Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 4,194 shares of the semiconductor manufacturer’s stock, valued at approximately $361,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Jump Financial LLC bought a new position in Micron Technology during the third quarter valued at approximately $208,000. J.P. Morgan Private Wealth Advisors LLC bought a new position in shares of Micron Technology during the 3rd quarter valued at $2,200,000. Janney Montgomery Scott LLC raised its position in Micron Technology by 28.1% in the 3rd quarter. Janney Montgomery Scott LLC now owns 91,784 shares of the semiconductor manufacturer’s stock worth $6,244,000 after purchasing an additional 20,126 shares during the period. Annis Gardner Whiting Capital Advisors LLC bought a new stake in Micron Technology in the third quarter worth $28,000. Finally, Huntington National Bank boosted its position in Micron Technology by 6.0% during the third quarter. Huntington National Bank now owns 2,652 shares of the semiconductor manufacturer’s stock valued at $180,000 after buying an additional 149 shares during the period. 80.84% of the stock is currently owned by hedge funds and other institutional investors.

Micron Technology Price Performance

Shares of Micron Technology stock opened at $130.94 on Friday. Micron Technology, Inc. has a 1 year low of $60.50 and a 1 year high of $134.13. The company has a 50-day moving average of $122.04 and a 200 day moving average of $99.42. The company has a current ratio of 3.74, a quick ratio of 2.40 and a debt-to-equity ratio of 0.30.

Micron Technology (NASDAQ:MUGet Free Report) last announced its earnings results on Wednesday, March 20th. The semiconductor manufacturer reported $0.42 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.69. The business had revenue of $5.82 billion during the quarter, compared to the consensus estimate of $5.35 billion. Micron Technology had a negative net margin of 20.57% and a negative return on equity of 8.98%. The business’s revenue for the quarter was up 57.7% on a year-over-year basis. During the same quarter last year, the firm earned ($2.03) earnings per share. As a group, analysts anticipate that Micron Technology, Inc. will post 0.29 EPS for the current fiscal year.

Micron Technology Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 16th. Stockholders of record on Monday, April 1st were paid a $0.115 dividend. The ex-dividend date of this dividend was Thursday, March 28th. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.35%. Micron Technology’s dividend payout ratio is currently -13.33%.

Insider Transactions at Micron Technology

In other Micron Technology news, CEO Sanjay Mehrotra sold 7,000 shares of Micron Technology stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $126.14, for a total value of $882,980.00. Following the completion of the transaction, the chief executive officer now directly owns 719,049 shares of the company’s stock, valued at $90,700,840.86. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Micron Technology news, CEO Sanjay Mehrotra sold 7,000 shares of Micron Technology stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $126.14, for a total value of $882,980.00. Following the completion of the sale, the chief executive officer now owns 719,049 shares of the company’s stock, valued at approximately $90,700,840.86. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP April S. Arnzen sold 4,890 shares of the company’s stock in a transaction 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 transaction, the executive vice president now directly owns 148,817 shares in the company, valued at $17,753,868.10. The disclosure for this sale can be found here. Insiders sold a total of 372,446 shares of company stock valued at $44,205,683 in the last quarter. 0.32% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on MU. Barclays lifted their price objective on Micron Technology from $120.00 to $145.00 and gave the stock an “overweight” rating in a report on Monday, May 13th. Robert W. Baird upgraded Micron Technology from a “neutral” rating to an “outperform” rating and boosted their price objective for the company from $115.00 to $150.00 in a research report on Monday, May 6th. TD Cowen raised their target price on shares of Micron Technology from $120.00 to $150.00 and gave the stock an “outperform” rating in a report on Thursday, March 21st. Fox Advisors upgraded shares of Micron Technology from an “equal weight” rating to an “overweight” rating in a report on Thursday, March 21st. Finally, Cantor Fitzgerald raised their price target on shares of Micron Technology from $135.00 to $150.00 and gave the stock an “overweight” rating in a report on Monday, April 8th. Two equities research analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $128.76.

Get Our Latest Stock Report on MU

Micron Technology Profile

(Free Report)

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.

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

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