Micron Technology, Inc. (NASDAQ:MU) Holdings Raised by Fifth Third Wealth Advisors LLC

Fifth Third Wealth Advisors LLC lifted its stake in Micron Technology, Inc. (NASDAQ:MU) by 4.5% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 21,350 shares of the semiconductor manufacturer’s stock after purchasing an additional 928 shares during the quarter. Fifth Third Wealth Advisors LLC’s holdings in Micron Technology were worth $1,797,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Harmony Asset Management LLC lifted its holdings in shares of Micron Technology by 75.6% in the third quarter. Harmony Asset Management LLC now owns 11,889 shares of the semiconductor manufacturer’s stock valued at $1,233,000 after purchasing an additional 5,120 shares in the last quarter. Lazard Freres Gestion S.A.S. lifted its stake in Micron Technology by 241.7% in the 3rd quarter. Lazard Freres Gestion S.A.S. now owns 41,000 shares of the semiconductor manufacturer’s stock worth $4,252,000 after acquiring an additional 29,000 shares in the last quarter. Chartwell Investment Partners LLC boosted its position in Micron Technology by 26.4% during the 3rd quarter. Chartwell Investment Partners LLC now owns 195,115 shares of the semiconductor manufacturer’s stock worth $20,236,000 after acquiring an additional 40,802 shares during the period. State Street Corp grew its stake in Micron Technology by 3.1% during the 3rd quarter. State Street Corp now owns 48,226,710 shares of the semiconductor manufacturer’s stock valued at $5,001,592,000 after acquiring an additional 1,434,568 shares in the last quarter. Finally, Global X Japan Co. Ltd. increased its holdings in shares of Micron Technology by 23.1% in the 3rd quarter. Global X Japan Co. Ltd. now owns 51,832 shares of the semiconductor manufacturer’s stock valued at $5,375,000 after purchasing an additional 9,735 shares during the period. Hedge funds and other institutional investors own 80.84% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently commented on MU shares. UBS Group lowered their price objective on shares of Micron Technology from $135.00 to $125.00 and set a “buy” rating on the stock in a research report on Thursday, December 19th. TD Cowen dropped their price target on shares of Micron Technology from $135.00 to $125.00 and set a “buy” rating on the stock in a research note on Thursday, December 19th. Needham & Company LLC reduced their price objective on Micron Technology from $140.00 to $120.00 and set a “buy” rating for the company in a research report on Thursday, December 19th. The Goldman Sachs Group dropped their target price on Micron Technology from $145.00 to $128.00 and set a “buy” rating on the stock in a research report on Thursday, December 19th. Finally, Sanford C. Bernstein reduced their price target on Micron Technology from $140.00 to $120.00 and set an “outperform” rating for the company in a report on Wednesday, December 18th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-three have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $135.24.

Micron Technology Stock Up 6.0 %

MU opened at $103.19 on Thursday. The business has a 50 day moving average of $98.39 and a 200-day moving average of $102.65. The stock has a market capitalization of $114.97 billion, a price-to-earnings ratio of 151.75 and a beta of 1.18. The company has a current ratio of 2.64, a quick ratio of 1.68 and a debt-to-equity ratio of 0.29. Micron Technology, Inc. has a 1-year low of $79.15 and a 1-year high of $157.54.

Micron Technology (NASDAQ:MU) last issued its quarterly earnings results on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 earnings per share for the quarter, beating analysts’ consensus estimates of $1.60 by $0.19. Micron Technology had a net margin of 3.10% and a return on equity of 1.58%. The firm had revenue of $8.71 billion during the quarter, compared to the consensus estimate of $8.71 billion. During the same period in the prior year, the firm earned ($0.95) EPS. The business’s revenue was up 84.3% on a year-over-year basis. As a group, sell-side analysts anticipate that Micron Technology, Inc. will post 8.31 earnings per share for the current year.

Micron Technology Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Monday, December 30th were paid a dividend of $0.115 per share. The ex-dividend date was Monday, December 30th. This represents a $0.46 annualized dividend and a yield of 0.45%. Micron Technology’s dividend payout ratio is 13.26%.

Insider Buying and Selling at Micron Technology

In other news, EVP April S. Arnzen sold 4,890 shares of the firm’s stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $85.21, for a total transaction of $416,676.90. Following the completion of the transaction, the executive vice president now directly owns 181,223 shares of the company’s stock, valued at approximately $15,442,011.83. This trade represents a 2.63 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.30% of the company’s stock.

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.