Parnassus Investments LLC Buys 380 Shares of Micron Technology, Inc. (NASDAQ:MU)

Parnassus Investments LLC lifted its stake in Micron Technology, Inc. (NASDAQ:MU) by 0.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,057,646 shares of the semiconductor manufacturer’s stock after acquiring an additional 380 shares during the period. Parnassus Investments LLC owned 0.09% of Micron Technology worth $89,011,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the stock. Stone House Investment Management LLC lifted its position in Micron Technology by 602.2% during the third quarter. Stone House Investment Management LLC now owns 323 shares of the semiconductor manufacturer’s stock valued at $34,000 after acquiring an additional 277 shares during the last quarter. True Wealth Design LLC increased its position in shares of Micron Technology by 1,096.3% during the third quarter. True Wealth Design LLC now owns 323 shares of the semiconductor manufacturer’s stock worth $33,000 after purchasing an additional 296 shares in the last quarter. Beacon Capital Management LLC lifted its holdings in shares of Micron Technology by 114.9% during the 4th quarter. Beacon Capital Management LLC now owns 374 shares of the semiconductor manufacturer’s stock valued at $31,000 after purchasing an additional 200 shares during the last quarter. Darwin Wealth Management LLC acquired a new stake in shares of Micron Technology in the 3rd quarter worth $39,000. Finally, Midwest Capital Advisors LLC acquired a new stake in shares of Micron Technology in the 4th quarter worth $33,000. 80.84% of the stock is owned by institutional investors.

Micron Technology Stock Performance

MU opened at $94.88 on Friday. The firm has a fifty day moving average price of $96.50 and a 200 day moving average price of $98.04. Micron Technology, Inc. has a 1 year low of $83.54 and a 1 year high of $157.54. The stock has a market cap of $105.71 billion, a P/E ratio of 27.34 and a beta of 1.23. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.72 and a quick ratio of 1.75.

Micron Technology (NASDAQ:MU) last issued its quarterly earnings data on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 earnings per share for the quarter, topping analysts’ consensus estimates of $1.60 by $0.19. Micron Technology had a net margin of 13.34% and a return on equity of 8.32%. The business had revenue of $8.71 billion during the quarter, compared to the consensus estimate of $8.71 billion. During the same quarter in the prior year, the firm posted ($0.95) earnings per share. The company’s revenue was up 84.3% compared to the same quarter last year. Equities research analysts anticipate that Micron Technology, Inc. will post 6.08 earnings per share for the current year.

Micron Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Monday, December 30th were issued a $0.115 dividend. This represents a $0.46 annualized dividend and a yield of 0.48%. The ex-dividend date was Monday, December 30th. Micron Technology’s payout ratio is currently 13.26%.

Insider Buying and Selling at Micron Technology

In related news, EVP April S. Arnzen sold 4,890 shares of Micron Technology stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $85.21, for a total value of $416,676.90. Following the sale, the executive vice president now directly owns 181,223 shares in the company, valued at approximately $15,442,011.83. The trade was a 2.63 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Mary Pat Mccarthy sold 2,404 shares of the stock in a transaction that occurred 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 transaction, the director now directly owns 27,358 shares of the company’s stock, valued at $2,542,378.94. The trade was a 8.08 % decrease in their position. The disclosure for this sale can be found here. 0.30% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms have commented on MU. The Goldman Sachs Group decreased their price target on Micron Technology from $145.00 to $128.00 and set a “buy” rating for the company in a research note on Thursday, December 19th. Wells Fargo & Company decreased their price objective on shares of Micron Technology from $140.00 to $130.00 and set an “overweight” rating for the company in a research report on Thursday. Sanford C. Bernstein dropped their target price on shares of Micron Technology from $140.00 to $120.00 and set an “outperform” rating on the stock in a research report on Wednesday, December 18th. Mizuho cut their price target on shares of Micron Technology from $135.00 to $115.00 and set an “outperform” rating on the stock in a research note on Thursday, December 19th. Finally, Cantor Fitzgerald lowered their price objective on shares of Micron Technology from $150.00 to $130.00 and set an “overweight” rating for the company in a research note on Thursday, December 19th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $134.56.

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.