Micron Technology, Inc. (NASDAQ:MU) Shares Bought by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company grew its holdings in shares of Micron Technology, Inc. (NASDAQ:MU) by 2.8% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,726,755 shares of the semiconductor manufacturer’s stock after purchasing an additional 47,653 shares during the period. The Manufacturers Life Insurance Company owned 0.16% of Micron Technology worth $179,113,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of MU. Highline Wealth Partners LLC acquired a new stake in shares of Micron Technology in the 3rd quarter worth about $26,000. Hobbs Group Advisors LLC acquired a new position in Micron Technology during the 2nd quarter valued at about $28,000. Davis Capital Management acquired a new position in Micron Technology during the 3rd quarter valued at about $30,000. Richard W. Paul & Associates LLC increased its stake in Micron Technology by 128.6% during the 2nd quarter. Richard W. Paul & Associates LLC now owns 256 shares of the semiconductor manufacturer’s stock valued at $34,000 after buying an additional 144 shares during the period. Finally, DT Investment Partners LLC increased its stake in Micron Technology by 261.1% during the 3rd quarter. DT Investment Partners LLC now owns 325 shares of the semiconductor manufacturer’s stock valued at $34,000 after buying an additional 235 shares during the period. Institutional investors and hedge funds 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 business’s stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $113.00, for a total value of $552,570.00. Following the sale, the executive vice president now owns 135,830 shares of the company’s stock, valued at $15,348,790. The trade was a 3.47 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.32% of the company’s stock.

Micron Technology Price Performance

Shares of Micron Technology stock opened at $101.80 on Wednesday. The firm has a fifty day simple moving average of $103.07 and a 200-day simple moving average of $111.90. 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 $72.93 and a 1-year high of $157.54. The stock has a market capitalization of $112.87 billion, a price-to-earnings ratio of 149.71 and a beta of 1.18.

Micron Technology (NASDAQ:MU) last issued its quarterly earnings data on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 earnings per share for the quarter, topping analysts’ consensus estimates of $0.97 by $0.21. The business had revenue of $7.75 billion during the quarter, compared to analysts’ expectations of $7.65 billion. Micron Technology had a net margin of 3.10% and a return on equity of 1.58%. Micron Technology’s revenue for the quarter was up 93.3% on a year-over-year basis. During the same period in the previous year, the company earned ($1.21) earnings per share. On average, sell-side analysts expect that Micron Technology, Inc. will post 8.31 earnings per share for the current year.

Micron Technology Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 23rd. Shareholders of record on Monday, October 7th were issued a $0.115 dividend. This represents a $0.46 annualized dividend and a yield of 0.45%. The ex-dividend date of this dividend was Monday, October 7th. Micron Technology’s dividend payout ratio (DPR) is presently 67.65%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on MU shares. TD Cowen raised their price objective on shares of Micron Technology from $115.00 to $135.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. Susquehanna reduced their price objective on shares of Micron Technology from $175.00 to $165.00 and set a “positive” rating for the company in a research report on Thursday, September 26th. Cantor Fitzgerald restated an “overweight” rating and set a $150.00 price objective on shares of Micron Technology in a research report on Tuesday, October 1st. Citigroup decreased their target price on shares of Micron Technology from $175.00 to $150.00 and set a “buy” rating for the company in a report on Tuesday, September 17th. Finally, Robert W. Baird decreased their target price on shares of Micron Technology from $172.00 to $150.00 and set an “outperform” rating for the company in a report on Friday, September 27th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and twenty-six have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $143.04.

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.