Daiwa Securities Group Inc. Has $28.65 Million Stock Holdings in Micron Technology, Inc. (NASDAQ:MU)

Daiwa Securities Group Inc. lowered its stake in Micron Technology, Inc. (NASDAQ:MU) by 4.6% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 217,816 shares of the semiconductor manufacturer’s stock after selling 10,477 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Micron Technology were worth $28,649,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Norges Bank bought a new stake in Micron Technology in the fourth quarter valued at approximately $769,372,000. Price T Rowe Associates Inc. MD increased its position in shares of Micron Technology by 22.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 18,243,633 shares of the semiconductor manufacturer’s stock valued at $2,150,743,000 after buying an additional 3,315,988 shares in the last quarter. Capital International Investors increased its position in shares of Micron Technology by 15.1% in the 1st quarter. Capital International Investors now owns 18,303,506 shares of the semiconductor manufacturer’s stock valued at $2,157,800,000 after buying an additional 2,397,885 shares in the last quarter. Swedbank AB raised its stake in Micron Technology by 473.8% during the 2nd quarter. Swedbank AB now owns 2,649,180 shares of the semiconductor manufacturer’s stock worth $348,447,000 after buying an additional 2,187,460 shares during the period. Finally, 1832 Asset Management L.P. grew its stake in Micron Technology by 301,500.0% in the first quarter. 1832 Asset Management L.P. now owns 1,809,600 shares of the semiconductor manufacturer’s stock valued at $213,334,000 after acquiring an additional 1,809,000 shares during the period. 80.84% of the stock is currently owned by institutional investors.

Insider Activity

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of the company’s stock in a transaction on 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 directly owns 142,321 shares in the company, valued at $19,335,731.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Sanjay Mehrotra sold 34,284 shares of Micron Technology stock in a transaction that occurred on Tuesday, June 18th. The shares were sold at an average price of $152.28, for a total transaction of $5,220,767.52. Following the sale, the chief executive officer now directly owns 719,049 shares of the company’s stock, valued at approximately $109,496,781.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP April S. Arnzen sold 4,890 shares of the company’s stock in a transaction that occurred on Thursday, June 27th. The stock was sold at an average price of $135.86, for a total transaction of $664,355.40. Following the transaction, the executive vice president now owns 142,321 shares of the company’s stock, valued at $19,335,731.06. The disclosure for this sale can be found here. Corporate insiders own 0.32% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Raymond James lifted their price target on shares of Micron Technology from $130.00 to $160.00 and gave the company an “outperform” rating in a research note on Friday, June 21st. Mizuho boosted their price objective on shares of Micron Technology from $150.00 to $155.00 and gave the company a “buy” rating in a research report on Friday, May 31st. The Goldman Sachs Group increased their target price on Micron Technology from $138.00 to $158.00 and gave the stock a “buy” rating in a report on Thursday, June 27th. Citigroup boosted their price target on Micron Technology from $150.00 to $175.00 and gave the company a “buy” rating in a report on Monday, June 24th. Finally, Needham & Company LLC decreased their price objective on Micron Technology from $150.00 to $140.00 and set a “buy” rating for the company in a report on Monday, August 26th. Two investment analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $157.12.

Micron Technology Stock Down 0.1 %

MU stock opened at $86.27 on Tuesday. Micron Technology, Inc. has a fifty-two week low of $63.83 and a fifty-two week high of $157.54. The company has a debt-to-equity ratio of 0.29, a current ratio of 3.41 and a quick ratio of 2.16. The stock has a market capitalization of $95.66 billion, a price-to-earnings ratio of -60.75 and a beta of 1.17. The business’s fifty day moving average price is $107.82 and its two-hundred day moving average price is $115.04.

Micron Technology (NASDAQ:MU) last announced its earnings results on Wednesday, June 26th. The semiconductor manufacturer reported $0.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $6.67 billion. During the same quarter in the prior year, the business posted ($1.57) EPS. The business’s revenue was up 81.5% compared to the same quarter last year. On average, equities analysts anticipate that Micron Technology, Inc. will post 0.61 earnings per share for the current year.

Micron Technology Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 23rd. Shareholders of record on Monday, July 8th were issued a $0.115 dividend. This represents a $0.46 annualized dividend and a yield of 0.53%. The ex-dividend date of this dividend was Monday, July 8th. Micron Technology’s dividend payout ratio is currently -32.39%.

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 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.