DNB Asset Management AS increased its position in Micron Technology, Inc. (NASDAQ:MU – Get Rating ) by 75.2% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,238,679 shares of the semiconductor manufacturer’s stock after buying an additional 531,796 shares during the period. DNB Asset Management AS owned about 0.11% of Micron Technology worth $61,909,000 as of its most recent SEC filing.
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Other institutional investors have also made changes to their positions in the company. River & Mercantile Asset Management LLP boosted its holdings in shares of Micron Technology by 71.6% during the third quarter. River & Mercantile Asset Management LLP now owns 28,742 shares of the semiconductor maker’s stock valued at $1,440,000 after purchasing an additional 11,990 shares during the last quarter. Ensign Peak Advisors Inc boosted its holdings in Micron Technology by 12.1% in the second quarter. Ensign Peak Advisors Inc now owns 979,255 shares of the semiconductor maker’s stock valued at $54,134,000 after purchasing an additional 105,788 shares during the last quarter. Whittier Trust Co. of Nevada Inc. boosted its holdings in Micron Technology by 29.0% during the third quarter. Whittier Trust Co. by Nevada Inc. now owns 1,711 shares of the semiconductor maker’s stock valued at $86,000 after purchasing an additional 385 shares during the last quarter. Meiji Yasuda Life Insurance Co boosted its holdings in Micron Technology by 46.5% in the second quarter. Meiji Yasuda Life Insurance Co now owns 15,968 shares of the semiconductor maker’s stock valued at $883,000 after buying an additional 5,069 shares during the last quarter. Finally, Fortitude Advisory Group LLC boosted its holdings in Micron Technology by 169.5% in the second quarter. Fortitude Advisory Group LLC now owns 6,421 shares of the semiconductor maker’s stock valued at $355,000 after buying an additional 4,038 shares during the last quarter. 78.02% of the shares are owned by institutional investors.
Shares of Micron Technology rose 0.2%
Shares of Micron Technology stock traded up $0.09 on Friday, reaching $56.66. 26,655,249 shares of the company were exchanged with its average volume of 12,270,926. Micron Technology, Inc. has a one year low of $48.43 and a one year high of $86.24. The company has a market cap of $61.83 billion, a price-to-earnings ratio of 10.28 and a beta of 1.39. The company has a current ratio of 3.51, a quick ratio of 2.23 and a debt-to-equity ratio of 0.20. The company has a 50-day moving average of $58.60 and a 200-day moving average of $55.78.
Micron Technology (NASDAQ:MU – Get Rating ) last announced its quarterly earnings data on Wednesday, December 21st. The semiconductor maker reported ($0.15) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.02). Micron Technology had a return on equity of 13.26% and a net margin of 22.78%. The company had revenue of $4.09 billion for the quarter, compared to the consensus estimate of $4.14 billion. In the same quarter last year, the company earned $2.07 EPS. The company’s revenue for the quarter was down 46.9% year over year. On average, equities analysts predict that Micron Technology, Inc. will report -2.71 earnings per share for the current year.
Micron Technology Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 19th. Shareholders of record on Tuesday, January 3rd were given a dividend of $0.115 per share. This represents an annualized dividend of $0.46 and a dividend yield of 0.81%. The ex-dividend date was Friday, December 30th. Micron Technology’s dividend payout ratio is currently 8.35%.
Changes in analyst ratings
Several analysts have weighed in on MU shares. UBS Group reduced their price objective on Micron Technology from $75.00 to $70.00 and set a “buy” rating for the company in a report on Thursday, December 22nd. Argus cut Micron Technology from a “buy” rating to a “hold” rating in a report on Friday, December 30th. StockNews.com initiated coverage on Micron Technology in a research note on Thursday. They issued a “hold” rating on the company. Morgan Stanley reduced their target price on Micron Technology from $49.00 to $46.00 and set an “underweight” rating for the company in a research note on Thursday, December 22nd. Finally, Deutsche Bank Aktiengesellschaft cut Micron Technology from a “buy” rating to a “hold” rating and lowered their target price for the company from $60.00 to $55.00 in a research note on Monday, December 12th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and twenty-two have assigned a buy rating to the company. Micron Technology presently has an average rating of “Moderate Buy” and a consensus target price of $66.26, according to MarketBeat.com.
Micron Technology Insider Transactions
In related news, SVP Robert P. Beard sold 3,000 shares of the stock in a transaction on Monday, January 23rd. The shares were sold at an average price of $61.25, for a total value of $183,750.00. Following the sale, the senior vice president now owns 42,840 shares in the company, valued at approximately $2,623,950. The transaction was disclosed in a document filed with the SEC, which can be accessed via this hyperlink. In other Micron Technology news, EVP Scott J. Deboer sold 20,000 shares of the stock in a transaction on Thursday, January 26th. The shares were sold at an average price of $62.23, for a total transaction of $1,244,600.00. Following the transaction, the executive vice president now owns 248,340 shares in the company, valued at approximately $15,454,198.20. The transaction was disclosed in a filing with the Securities and Exchange Commission, which can be accessed via this link. Also, SVP Robert P. Beard sold 3,000 shares of the stock in a transaction on Monday, January 23rd. The shares were sold at an average price of $61.25, for a total value of $183,750.00. Following the transaction, the senior vice president now owns 42,840 shares in the company, valued at approximately $2,623,950. Disclosure of this sale can be found here. Insiders have sold a total of 67,000 shares of company stock valued at $3,982,190 over the last 90 days. Corporate insiders own 0.33% of the company’s stock.
Micron Technology Company Profile
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Micron Technology, Inc is committed to providing innovative memory and storage solutions. It operates through the following segments: Computing and Networking Business Unit (CNBU), Mobile Business Unit (MBU), Storage Business Unit (SBU) and Embedded Devices Business Unit (EBU). The CNBU segment includes memory products sold in the cloud server, enterprise, client, graphics and networking markets.
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