Signaturefd LLC Raises Stock Position in Micron Technology, Inc. (NASDAQ:MU)

Signaturefd LLC grew its stake in Micron Technology, Inc. (NASDAQ:MU) by 4.0% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 23,248 shares of the semiconductor manufacturer’s stock after acquiring an additional 891 shares during the period. Signaturefd LLC’s holdings in Micron Technology were worth $2,020,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Norges Bank acquired a new position in Micron Technology during the 4th quarter worth approximately $1,470,875,000. Capital World Investors grew its holdings in Micron Technology by 63.7% during the 4th quarter. Capital World Investors now owns 41,096,391 shares of the semiconductor manufacturer’s stock worth $3,458,673,000 after acquiring an additional 15,993,036 shares in the last quarter. FMR LLC grew its holdings in Micron Technology by 34.6% during the 4th quarter. FMR LLC now owns 47,672,462 shares of the semiconductor manufacturer’s stock worth $4,012,114,000 after acquiring an additional 12,249,341 shares in the last quarter. Capital Research Global Investors grew its holdings in Micron Technology by 139.7% during the 4th quarter. Capital Research Global Investors now owns 16,281,620 shares of the semiconductor manufacturer’s stock worth $1,370,280,000 after acquiring an additional 9,489,579 shares in the last quarter. Finally, Capital International Investors grew its holdings in Micron Technology by 36.3% during the 4th quarter. Capital International Investors now owns 16,437,080 shares of the semiconductor manufacturer’s stock worth $1,383,442,000 after acquiring an additional 4,375,232 shares in the last quarter. 80.84% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Micron Technology

In other Micron Technology news, EVP April S. Arnzen sold 15,000 shares of the firm’s stock in a transaction dated Tuesday, June 24th. The shares were sold at an average price of $125.12, for a total transaction of $1,876,800.00. Following the sale, the executive vice president directly owned 148,167 shares of the company’s stock, valued at $18,538,655.04. This trade represents a 9.19% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Mary Pat Mccarthy sold 2,404 shares of the firm’s stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $121.28, for a total transaction of $291,557.12. Following the sale, the director directly owned 22,550 shares in the company, valued at $2,734,864. This represents a 9.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 254,446 shares of company stock worth $31,154,717 over the last three months. Company insiders own 0.30% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have commented on MU. Deutsche Bank Aktiengesellschaft began coverage on shares of Micron Technology in a report on Thursday, July 10th. They set a “buy” rating and a $150.00 price target for the company. Wells Fargo & Company upped their target price on shares of Micron Technology from $150.00 to $170.00 and gave the company an “overweight” rating in a report on Thursday, June 26th. Barclays upped their target price on shares of Micron Technology from $95.00 to $140.00 and gave the company an “overweight” rating in a report on Thursday, June 26th. JPMorgan Chase & Co. upped their target price on shares of Micron Technology from $135.00 to $165.00 and gave the company an “overweight” rating in a report on Thursday, June 26th. Finally, Needham & Company LLC upped their target price on shares of Micron Technology from $120.00 to $150.00 and gave the company a “buy” rating in a report on Thursday, June 26th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $146.44.

Micron Technology Stock Performance

NASDAQ:MU opened at $118.61 on Tuesday. The company has a current ratio of 2.75, a quick ratio of 1.89 and a debt-to-equity ratio of 0.30. The firm has a 50-day moving average price of $108.80 and a two-hundred day moving average price of $96.22. Micron Technology, Inc. has a twelve month low of $61.54 and a twelve month high of $135.35. The company has a market capitalization of $132.74 billion, a P/E ratio of 21.37 and a beta of 1.35.

Micron Technology (NASDAQ:MU) last posted its earnings results on Wednesday, June 25th. The semiconductor manufacturer reported $1.91 earnings per share for the quarter, beating the consensus estimate of $1.57 by $0.34. Micron Technology had a net margin of 18.41% and a return on equity of 13.60%. The firm had revenue of $9.30 billion during the quarter, compared to the consensus estimate of $8.83 billion. During the same period last year, the firm posted $0.62 EPS. As a group, research analysts expect that Micron Technology, Inc. will post 6.08 earnings per share for the current fiscal year.

Micron Technology Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 22nd. Shareholders of record on Monday, July 7th will be paid a dividend of $0.115 per share. The ex-dividend date of this dividend is Monday, July 7th. This represents a $0.46 annualized dividend and a dividend yield of 0.39%. Micron Technology’s dividend payout ratio is currently 8.29%.

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.