Micron Technology, Inc. (NASDAQ:MU) Shares Bought by Norden Group LLC

Norden Group LLC lifted its stake in shares of Micron Technology, Inc. (NASDAQ:MU) by 7.9% during the fourth quarter, Holdings Channel.com reports. The fund owned 4,431 shares of the semiconductor manufacturer’s stock after purchasing an additional 324 shares during the period. Norden Group LLC’s holdings in Micron Technology were worth $373,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. State Street Corp raised its position in Micron Technology by 3.1% in the third quarter. State Street Corp now owns 48,226,710 shares of the semiconductor manufacturer’s stock worth $5,001,592,000 after acquiring an additional 1,434,568 shares in the last quarter. Primecap Management Co. CA raised its holdings in shares of Micron Technology by 0.6% in the 3rd quarter. Primecap Management Co. CA now owns 37,631,860 shares of the semiconductor manufacturer’s stock worth $3,902,800,000 after purchasing an additional 206,499 shares in the last quarter. Geode Capital Management LLC lifted its stake in Micron Technology by 3.9% during the third quarter. Geode Capital Management LLC now owns 23,723,545 shares of the semiconductor manufacturer’s stock valued at $2,451,987,000 after purchasing an additional 892,607 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Micron Technology by 21.7% during the third 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 in the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in shares of Micron Technology by 1.5% in the fourth quarter. Bank of New York Mellon Corp now owns 9,956,311 shares of the semiconductor manufacturer’s stock valued at $837,923,000 after buying an additional 144,897 shares in the last quarter. Institutional investors own 80.84% of the company’s stock.

Insider Buying and Selling at Micron Technology

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of the company’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 sale, the executive vice president now directly owns 181,223 shares in the company, valued at $15,442,011.83. This represents a 2.63 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.30% of the company’s stock.

Micron Technology Stock Performance

Shares of MU opened at $91.20 on Wednesday. The company has a quick ratio of 1.75, a current ratio of 2.72 and a debt-to-equity ratio of 0.28. Micron Technology, Inc. has a 12 month low of $83.54 and a 12 month high of $157.54. The company’s fifty day moving average is $95.81 and its 200-day moving average is $98.63. The firm has a market cap of $101.61 billion, a price-to-earnings ratio of 26.28 and a beta of 1.18.

Micron Technology (NASDAQ:MU) last posted its earnings results on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 earnings per share for the quarter, beating the consensus estimate of $1.60 by $0.19. The company had revenue of $8.71 billion for the quarter, compared to analyst estimates of $8.71 billion. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. The business’s revenue was up 84.3% compared to the same quarter last year. During the same period last year, the company earned ($0.95) earnings per share. Equities analysts expect that Micron Technology, Inc. will post 6.08 EPS for the current fiscal year.

Micron Technology Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Monday, December 30th were given a dividend of $0.115 per share. The ex-dividend date was Monday, December 30th. This represents a $0.46 dividend on an annualized basis and a yield of 0.50%. Micron Technology’s payout ratio is currently 13.26%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Cantor Fitzgerald reduced their price objective on Micron Technology from $150.00 to $130.00 and set an “overweight” rating for the company in a research note on Thursday, December 19th. Bank of America lowered Micron Technology from a “buy” rating to a “neutral” rating and decreased their price target for the company from $125.00 to $110.00 in a research report on Thursday, December 19th. JPMorgan Chase & Co. cut their price objective on Micron Technology from $180.00 to $145.00 and set an “overweight” rating on the stock in a report on Thursday, December 19th. Mizuho decreased their target price on shares of Micron Technology from $135.00 to $115.00 and set an “outperform” rating for the company in a report on Thursday, December 19th. Finally, Morgan Stanley cut their price target on shares of Micron Technology from $98.00 to $91.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 28th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Micron Technology presently has a consensus rating of “Moderate Buy” and a consensus target price of $134.96.

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.