Capital International Sarl Increases Holdings in Micron Technology, Inc. (NASDAQ:MU)

Capital International Sarl increased its stake in shares of Micron Technology, Inc. (NASDAQ:MU) by 14.2% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 38,998 shares of the semiconductor manufacturer’s stock after buying an additional 4,846 shares during the quarter. Capital International Sarl’s holdings in Micron Technology were worth $4,597,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Capital International Ltd. CA raised its position in Micron Technology by 3.9% in the first quarter. Capital International Ltd. CA now owns 31,916 shares of the semiconductor manufacturer’s stock valued at $3,763,000 after purchasing an additional 1,187 shares during the period. Capital International Investors grew its stake in Micron Technology by 15.1% during the 1st quarter. Capital International Investors now owns 18,303,506 shares of the semiconductor manufacturer’s stock worth $2,157,800,000 after purchasing an additional 2,397,885 shares in the last quarter. Sheaff Brock Investment Advisors LLC grew its stake in Micron Technology by 40.0% during the 1st quarter. Sheaff Brock Investment Advisors LLC now owns 22,881 shares of the semiconductor manufacturer’s stock worth $2,697,000 after purchasing an additional 6,538 shares in the last quarter. Stamos Capital Partners L.P. acquired a new position in Micron Technology during the 1st quarter worth $980,000. Finally, Advisors Asset Management Inc. grew its stake in Micron Technology by 513.5% during the 1st quarter. Advisors Asset Management Inc. now owns 5,902 shares of the semiconductor manufacturer’s stock worth $696,000 after purchasing an additional 4,940 shares in the last quarter. Hedge funds and other institutional investors own 80.84% of the company’s stock.

Micron Technology Price Performance

Shares of MU traded up $1.96 on Friday, reaching $109.41. The stock had a trading volume of 18,542,372 shares, compared to its average volume of 21,019,789. The firm has a market capitalization of $121.32 billion, a PE ratio of -77.05 and a beta of 1.18. The company has a quick ratio of 2.16, a current ratio of 3.41 and a debt-to-equity ratio of 0.29. The firm has a 50-day moving average of $131.01 and a 200 day moving average of $111.84. Micron Technology, Inc. has a twelve month low of $61.75 and a twelve month high of $157.54.

Micron Technology (NASDAQ:MU) last announced its earnings results on Wednesday, June 26th. The semiconductor manufacturer reported $0.62 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.14. Micron Technology had a negative net margin of 7.20% and a negative return on equity of 4.01%. The firm had revenue of $6.81 billion during the quarter, compared to the consensus estimate of $6.67 billion. During the same quarter in the previous year, the company posted ($1.57) EPS. The firm’s revenue for the quarter was up 81.5% on a year-over-year basis. Sell-side analysts expect that Micron Technology, Inc. will post 0.58 EPS for the current year.

Micron Technology Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 23rd. Investors of record on Monday, July 8th were paid a $0.115 dividend. This represents a $0.46 annualized dividend and a yield of 0.42%. The ex-dividend date was Monday, July 8th. Micron Technology’s payout ratio is -32.39%.

Insider Activity

In other news, SVP Michael W. Bokan sold 15,000 shares of the company’s stock in a transaction dated Tuesday, April 30th. The shares were sold at an average price of $115.55, for a total transaction of $1,733,250.00. Following the completion of the transaction, the senior vice president now owns 153,387 shares of the company’s stock, valued at approximately $17,723,867.85. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, EVP April S. Arnzen sold 4,890 shares of the business’s stock in a transaction dated Thursday, June 27th. The stock was sold at an average price of $135.86, for a total transaction of $664,355.40. Following the completion of the sale, the executive vice president now owns 142,321 shares in the company, valued at approximately $19,335,731.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Michael W. Bokan sold 15,000 shares of the business’s stock in a transaction dated Tuesday, April 30th. The stock was sold at an average price of $115.55, for a total value of $1,733,250.00. Following the sale, the senior vice president now owns 153,387 shares of the company’s stock, valued at approximately $17,723,867.85. The disclosure for this sale can be found here. Insiders sold a total of 236,730 shares of company stock valued at $29,435,039 in the last 90 days. 0.32% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on MU. Wells Fargo & Company upped their price objective on Micron Technology from $135.00 to $190.00 and gave the stock an “overweight” rating in a research report on Thursday, June 20th. Mizuho upped their price objective on Micron Technology from $150.00 to $155.00 and gave the stock a “buy” rating in a research report on Friday, May 31st. Cantor Fitzgerald upped their price objective 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 upped their price objective on Micron Technology from $144.00 to $170.00 and gave the stock a “buy” rating in a research report on Monday, June 17th. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $225.00 target price on shares of Micron Technology in a report on Tuesday, June 25th. Two research analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $158.72.

About Micron Technology

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.