Vanguard Group Inc. Raises Stock Position in Micron Technology, Inc. (NASDAQ:MU)

Vanguard Group Inc. grew its holdings in Micron Technology, Inc. (NASDAQ:MU) by 0.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 99,857,205 shares of the semiconductor manufacturer’s stock after acquiring an additional 888,087 shares during the period. Vanguard Group Inc. owned about 8.96% of Micron Technology worth $8,403,982,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. State Street Corp raised its stake in shares of Micron Technology by 3.1% in 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 during the period. Geode Capital Management LLC lifted its position in shares of Micron Technology by 3.9% in the 3rd quarter. Geode Capital Management LLC now owns 23,723,545 shares of the semiconductor manufacturer’s stock worth $2,451,987,000 after buying an additional 892,607 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Micron Technology by 21.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 11,326,224 shares of the semiconductor manufacturer’s stock worth $1,174,643,000 after buying an additional 2,022,180 shares during the last quarter. Bank of New York Mellon Corp lifted its position in shares of Micron Technology by 1.5% in the 4th quarter. Bank of New York Mellon Corp now owns 9,956,311 shares of the semiconductor manufacturer’s stock worth $837,923,000 after buying an additional 144,897 shares during the last quarter. Finally, Franklin Resources Inc. lifted its position in shares of Micron Technology by 4.6% in the 3rd quarter. Franklin Resources Inc. now owns 7,283,124 shares of the semiconductor manufacturer’s stock worth $789,054,000 after buying an additional 321,955 shares during the last quarter. Hedge funds and other institutional investors own 80.84% of the company’s stock.

Micron Technology Price Performance

NASDAQ MU opened at $94.72 on Friday. The company has a quick ratio of 1.75, a current ratio of 2.72 and a debt-to-equity ratio of 0.28. The stock has a market capitalization of $105.53 billion, a PE ratio of 27.30 and a beta of 1.23. The company has a 50 day moving average price of $96.82 and a two-hundred day moving average price of $98.28. Micron Technology, Inc. has a 12-month low of $83.54 and a 12-month high of $157.54.

Micron Technology (NASDAQ:MU) last issued its quarterly earnings data on Thursday, March 20th. The semiconductor manufacturer reported $1.56 earnings per share for the quarter, topping analysts’ consensus estimates of $1.43 by $0.13. Micron Technology had a net margin of 13.34% and a return on equity of 8.32%. The business had revenue of $8.05 billion during the quarter, compared to analysts’ expectations of $7.93 billion. During the same period in the previous year, the company earned $0.42 earnings per share. Micron Technology’s revenue for the quarter was up 38.2% on a year-over-year basis. As a group, equities analysts predict that Micron Technology, Inc. will post 6.08 earnings per share for the current fiscal year.

Micron Technology Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be issued a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a yield of 0.49%. The ex-dividend date of this dividend is Monday, March 31st. Micron Technology’s dividend payout ratio (DPR) is presently 11.03%.

Insider Buying and Selling at Micron Technology

In other Micron Technology news, Director Mary Pat Mccarthy sold 2,404 shares of the stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $92.93, for a total value of $223,403.72. Following the completion of the sale, the director now directly owns 27,358 shares of the company’s stock, valued at $2,542,378.94. This represents a 8.08 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.30% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on MU shares. JPMorgan Chase & Co. reduced their price target on shares of Micron Technology from $145.00 to $135.00 and set an “overweight” rating on the stock in a research report on Friday. Robert W. Baird raised their price target on shares of Micron Technology from $130.00 to $163.00 and gave the stock an “outperform” rating in a research report on Friday. Wedbush restated an “outperform” rating and issued a $125.00 price target on shares of Micron Technology in a research report on Monday, March 17th. KGI Securities upgraded shares of Micron Technology to a “strong-buy” rating in a research report on Friday, February 21st. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $130.00 price objective on shares of Micron Technology in a research report on Friday. One research analyst has rated the stock with a sell rating, two have issued a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $132.63.

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.