Janney Montgomery Scott LLC increased its holdings in Micron Technology Inc. (NASDAQ:MU – free report ) by 8.0% during the first quarter, according to the latest 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought an additional 8,065 shares during the quarter, giving it a total holdings of 109,138 shares of the semiconductor manufacturer’s stock. Janney Montgomery Scott LLC’s holdings in Micron Technology are worth $12,866,000 as of the latest SEC filing.
Other large investors also added or reduced shares in Micron Technology. The Vanguard Group increased its stake in Micron Technology by 0.8% in the fourth quarter. The Vanguard Group now owns 94,984,775 shares of the semiconductor company’s stock valued at $8,106,001,000 after purchasing an additional 755,588 shares in the last quarter. Sanders Capital LLC increased its stake in Micron Technology by 2.3% in the fourth quarter. Sanders Capital LLC now owns 22,583,348 shares of the semiconductor company’s stock valued at $1,927,263,000 after purchasing an additional 503,923 shares during the period. Wellington Management Group increased its stake in Micron Technology by 43.4% in the third quarter. Wellington Management Group LLP now holds 17,383,628 shares of the semiconductor manufacturer’s stock, valued at $1,182,608,000, after acquiring an additional 5,257,201 shares during the last quarter. Capital International Investors increased its holdings in Micron Technology by 2.3% in the fourth quarter. Capital International Investors now holds 15,905,621 shares of the semiconductor manufacturer’s stock, valued at $1,357,392,000, after acquiring an additional 363,902 shares during the period. Finally, Norges Bank purchased a new stake in Micron Technology in the fourth quarter for $769,372,000. Institutional investors now hold 80.84% of the company’s stock.
Wall Street analysts predict growth
Several analysts have recently offered their opinions on MU stock. Susquehanna increased their price target on Micron Technology from $143.00 to $185.00 and gave the stock a “positive” rating in a research report on Monday, June 17th. StockNews.com raised their price target on Micron Technology from a “sell” to a “hold” rating in a research report on Friday, March 22nd. Cantor Fitzgerald increased their price target on Micron Technology from $150.00 to $180.00 and gave the stock an “overweight” rating in a research report on Monday, June 17th. Bank of America increased their price target on Micron Technology from $144.00 to $170.00 and gave the company a “buy” rating in a report on Monday, June 17th. Finally, Morgan Stanley increased their price target on Micron Technology from $130.00 to $140.00 and gave the stock an “equal weight” rating in a report on Monday, June 24. Two investment analysts have rated the stock with a hold rating, and 25 have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “moderate buy” and a consensus target price of $158.52.
View our latest analysis for MU
Insiders bet
In related news, Executive Vice President, April S. Arnzen sold 4,890 shares of the company’s stock in a transaction on Thursday, June 27th. The shares were sold at an average price of $135.86, for a total value of $664,355.40. With this transaction, the Executive Vice President now owns 142,321 shares of the company’s stock, valued at approximately $19,335,731.06. The sale was disclosed in a SEC filing, which is available at this link . In other Micron Technology news, Executive Vice President, April S. Arnzen sold 4,890 shares of the company’s stock in a transaction on Thursday, June 27th. The shares were sold at an average price of $135.86, for a total value of $664,355.40. Following the sale, the Executive Vice President now directly owns 142,321 shares of the company’s stock, valued at $19,335,731.06. The transaction was disclosed in a filing with the SEC, available on the SEC’s website. Also, CEO Sanjay Mehrotra sold 34,284 shares of Micron Technology stock in a transaction on Tuesday, June 18th. The shares were sold at an average price of $152.28, for a total value of $5,220,767.52. Following this transaction, the CEO now owns 719,049 shares of the company’s stock, valued at approximately $109,496,781.72. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 257,730 shares of the company’s stock for $31,921,649. 0.32% of the stock is owned by company insiders.
Micron Technology Stock Performance
MU shares opened trading at $131.60 on Monday.Micron Technology, Inc.’s 52-week low is $60.50 and its 52-week high is $157.54. The company has a debt-to-equity ratio of 0.29, a quick ratio of 2.16 and a current ratio of 3.41. The stock’s 50-day simple moving average is $130.26 and its 200-day simple moving average is $108.32.
Micron Technology (NASDAQ:MU – Get free report ) last released its earnings results on Wednesday, June 26th. The semiconductor manufacturer reported quarterly earnings per share of $0.62, beating the consensus estimate of $0.48 by $0.14. The company’s quarterly revenue was $6.81 billion, beating the consensus estimate of $6.67 billion. Micron Technology had a net margin of -7.20% and a return on equity of -4.01%. Micron Technology’s revenue grew 81.5% year-over-year. The company’s EPS was ($1.57) in the same quarter last year. Sell-side analysts expect that Micron Technology, Inc. will post 0.58 EPS for the current year.
Micron Technology announces dividend
The company also recently declared a quarterly dividend, which is scheduled to be paid on Tuesday, July 23rd. Investors of record on Monday, July 8th will be paid a dividend of $0.115. The ex-dividend date is Monday, July 8th. This equates to a dividend of $0.46 on an annualized basis and a yield of 0.35%. Micron Technology’s dividend payout ratio (DPR) is -32.39%.
Micron Technology Profile
(Free report)
Micron Technology, Inc. designs, develops, manufactures and sells memory and storage products worldwide. The company operates through four segments: Computing and Networking, Mobile, Embedded and Storage. The company offers memory and storage technologies under the Micron and Crucial brands, as well as private labels, including dynamic random access memory semiconductor devices that provide low latency and fast data retrieval, nonvolatile rewriteable semiconductor storage devices, and nonvolatile rewriteable semiconductor memory devices that provide fast read speeds.
Featured Articles
Want to know which other hedge funds are holding MU? Visit HoldingsChannel.com to get the latest 13F filings and insider transactions for Micron Technology, Inc. (NASDAQ:MU – FREE Report).
Get Micron Technology News and Ratings Daily – Enter your email address below to receive a concise summary of the latest news and analyst ratings on Micron Technology and related companies every day with MarketBeat.com’s free email newsletter.
