Mirae Asset Global Investments Co. Ltd. Increases Position in Micron Technology, Inc. $MU

Mirae Asset Global Investments Co. Ltd. increased its holdings in Micron Technology, Inc. (NASDAQ:MU) by 0.6% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 1,426,406 shares of the semiconductor manufacturer’s stock after buying an additional 8,215 shares during the period. Micron Technology comprises about 0.6% of Mirae Asset Global Investments Co. Ltd.’s holdings, making the stock its 24th biggest position. Mirae Asset Global Investments Co. Ltd.’s holdings in Micron Technology were worth $175,805,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Nuveen LLC bought a new position in Micron Technology in the 1st quarter valued at $369,191,000. Vanguard Group Inc. boosted its holdings in shares of Micron Technology by 2.1% in the 1st quarter. Vanguard Group Inc. now owns 101,906,368 shares of the semiconductor manufacturer’s stock worth $8,854,644,000 after buying an additional 2,049,163 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in shares of Micron Technology by 23.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 10,616,488 shares of the semiconductor manufacturer’s stock worth $922,467,000 after buying an additional 2,038,641 shares during the last quarter. Dimensional Fund Advisors LP grew its position in Micron Technology by 26.3% during the first quarter. Dimensional Fund Advisors LP now owns 6,800,052 shares of the semiconductor manufacturer’s stock valued at $590,807,000 after buying an additional 1,416,174 shares during the period. Finally, Keystone Investors PTE Ltd. purchased a new stake in Micron Technology during the first quarter worth about $96,253,000. 80.84% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, CEO Sanjay Mehrotra sold 13,798 shares of the business’s stock in a transaction that occurred on Friday, September 19th. The shares were sold at an average price of $162.20, for a total transaction of $2,238,035.60. Following the completion of the transaction, the chief executive officer owned 325,148 shares of the company’s stock, valued at approximately $52,739,005.60. The trade was a 4.07% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP April S. Arnzen sold 15,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 30th. The stock was sold at an average price of $164.04, for a total transaction of $2,460,600.00. Following the sale, the executive vice president directly owned 131,580 shares in the company, valued at $21,584,383.20. This trade represents a 10.23% decrease in their position. The disclosure for this sale can be found here. Insiders sold 94,456 shares of company stock valued at $12,985,545 in the last three months. Insiders own 0.30% of the company’s stock.

Micron Technology Stock Performance

NASDAQ:MU opened at $183.75 on Friday. The business’s fifty day moving average is $133.36 and its 200 day moving average is $110.11. The firm has a market cap of $205.64 billion, a price-to-earnings ratio of 24.21, a PEG ratio of 0.40 and a beta of 1.56. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.79 and a current ratio of 2.52. Micron Technology, Inc. has a 52-week low of $61.54 and a 52-week high of $186.18.

Micron Technology Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 21st. Stockholders of record on Friday, October 3rd will be issued a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date of this dividend is Friday, October 3rd. Micron Technology’s dividend payout ratio is presently 6.06%.

Analyst Ratings Changes

A number of research analysts have recently weighed in on MU shares. Needham & Company LLC increased their target price on shares of Micron Technology from $150.00 to $200.00 and gave the company a “buy” rating in a research report on Wednesday, September 24th. Barclays upped their price objective on Micron Technology from $140.00 to $175.00 and gave the company an “overweight” rating in a research note on Friday, September 19th. JPMorgan Chase & Co. raised their target price on Micron Technology from $185.00 to $220.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 24th. Rosenblatt Securities upped their price target on Micron Technology from $200.00 to $250.00 and gave the company a “buy” rating in a research report on Wednesday, September 24th. Finally, Piper Sandler lifted their price objective on Micron Technology from $165.00 to $200.00 and gave the stock an “overweight” rating in a report on Wednesday, September 24th. Four equities research analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $184.77.

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.