Micron Technology, Inc. (NASDAQ:MU) Shares Bought by Allworth Financial LP

Allworth Financial LP raised its position in Micron Technology, Inc. (NASDAQ:MU) by 8.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 9,416 shares of the semiconductor manufacturer’s stock after buying an additional 699 shares during the quarter. Allworth Financial LP’s holdings in Micron Technology were worth $818,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Norges Bank acquired a new stake in shares of Micron Technology during the fourth quarter worth $1,470,875,000. Capital World Investors lifted its stake in shares of Micron Technology by 63.7% in 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 during the period. FMR LLC lifted its stake in shares of Micron Technology by 34.6% in 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 during the period. Capital Research Global Investors boosted its holdings in shares of Micron Technology by 139.7% in the fourth quarter. Capital Research Global Investors now owns 16,281,620 shares of the semiconductor manufacturer’s stock valued at $1,370,280,000 after acquiring an additional 9,489,579 shares in the last quarter. Finally, Capital International Investors increased its stake in shares of Micron Technology by 36.3% during the fourth 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 during the period. 80.84% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Micron Technology

In other Micron Technology news, EVP Sumit Sadana sold 92,638 shares of the firm’s stock in a transaction dated Friday, June 27th. The stock was sold at an average price of $125.49, for a total value of $11,625,142.62. Following the sale, the executive vice president directly owned 201,326 shares of the company’s stock, valued at approximately $25,264,399.74. This trade represents a 31.51% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Scott J. Deboer sold 20,000 shares of the stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $110.00, for a total transaction of $2,200,000.00. Following the transaction, the executive vice president owned 186,353 shares in the company, valued at approximately $20,498,830. The trade was a 9.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 254,446 shares of company stock worth $31,154,717. Company insiders own 0.30% of the company’s stock.

Wall Street Analysts Forecast Growth

MU has been the topic of a number of analyst reports. Rosenblatt Securities lifted their price objective on Micron Technology from $172.00 to $200.00 and gave the company a “buy” rating in a report on Monday, June 23rd. KeyCorp lifted their price target on Micron Technology from $135.00 to $160.00 and gave the company an “overweight” rating in a research note on Thursday, June 26th. Barclays upped their price objective on Micron Technology from $95.00 to $140.00 and gave the stock an “overweight” rating in a report on Thursday, June 26th. TD Cowen raised their target price on Micron Technology from $125.00 to $150.00 and gave the company a “buy” rating in a report on Thursday, June 26th. Finally, Susquehanna upped their price target on shares of Micron Technology from $150.00 to $160.00 and gave the stock a “positive” rating in a research note on Thursday, June 26th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $146.44.

Micron Technology Stock Performance

NASDAQ MU opened at $124.53 on Monday. The company has a quick ratio of 1.89, a current ratio of 2.75 and a debt-to-equity ratio of 0.30. Micron Technology, Inc. has a fifty-two week low of $61.54 and a fifty-two week high of $135.35. The business has a fifty day moving average of $108.03 and a 200-day moving average of $96.01. The stock has a market cap of $139.36 billion, a price-to-earnings ratio of 22.44 and a beta of 1.35.

Micron Technology (NASDAQ:MU) last announced 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 quarter in the previous year, the company posted $0.62 EPS. As a group, analysts predict that Micron Technology, Inc. will post 6.08 earnings per share for the current fiscal year.

Micron Technology Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 22nd. Shareholders of record on Monday, July 7th will be issued a $0.115 dividend. The ex-dividend date is Monday, July 7th. This represents a $0.46 annualized dividend and a yield of 0.37%. Micron Technology’s dividend payout ratio (DPR) is presently 8.29%.

Micron Technology Company 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.