Janus Henderson Group PLC Purchases 306,229 Shares of Micron Technology, Inc. (NASDAQ:MU)

Janus Henderson Group PLC boosted its position in Micron Technology, Inc. (NASDAQ:MU) by 16.8% during the first quarter, HoldingsChannel.com reports. The fund owned 2,126,081 shares of the semiconductor manufacturer’s stock after buying an additional 306,229 shares during the quarter. Janus Henderson Group PLC’s holdings in Micron Technology were worth $250,612,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in Micron Technology by 1.8% in the first quarter. Vanguard Group Inc. now owns 96,666,590 shares of the semiconductor manufacturer’s stock valued at $11,396,024,000 after buying an additional 1,681,815 shares in the last quarter. Capital World Investors boosted its position in Micron Technology by 6.6% in the first quarter. Capital World Investors now owns 22,748,381 shares of the semiconductor manufacturer’s stock valued at $2,681,807,000 after buying an additional 1,400,154 shares in the last quarter. Sanders Capital LLC boosted its position in Micron Technology by 2.3% in the fourth quarter. Sanders Capital LLC now owns 22,583,348 shares of the semiconductor manufacturer’s stock valued at $1,927,263,000 after buying an additional 503,923 shares in the last quarter. Capital International Investors boosted its position in Micron Technology by 15.1% in the first quarter. Capital International Investors now owns 18,303,506 shares of the semiconductor manufacturer’s stock valued at $2,157,800,000 after buying an additional 2,397,885 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its holdings in shares of Micron Technology by 22.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 18,243,633 shares of the semiconductor manufacturer’s stock worth $2,150,743,000 after purchasing an additional 3,315,988 shares during the period. 80.84% of the stock is owned by institutional investors.

Micron Technology Stock Down 4.9 %

MU traded down $5.29 during midday trading on Tuesday, hitting $102.56. The company had a trading volume of 23,700,496 shares, compared to its average volume of 20,986,420. Micron Technology, Inc. has a 52 week low of $61.75 and a 52 week high of $157.54. The company has a quick ratio of 2.16, a current ratio of 3.41 and a debt-to-equity ratio of 0.29. The company has a market capitalization of $113.72 billion, a price-to-earnings ratio of -74.21 and a beta of 1.18. The stock’s 50 day moving average price is $130.59 and its 200 day moving average price is $112.42.

Micron Technology (NASDAQ:MU) last posted its earnings results on Wednesday, June 26th. The semiconductor manufacturer reported $0.62 EPS for the quarter, topping the consensus estimate of $0.48 by $0.14. The company had revenue of $6.81 billion during the quarter, compared to the consensus estimate of $6.67 billion. Micron Technology had a negative net margin of 7.20% and a negative return on equity of 4.01%. The firm’s revenue for the quarter was up 81.5% on a year-over-year basis. During the same period in the previous year, the firm posted ($1.57) earnings per share. On average, research analysts anticipate that Micron Technology, Inc. will post 0.58 earnings per share for the current fiscal year.

Micron Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 23rd. Stockholders of record on Monday, July 8th were given a dividend of $0.115 per share. This represents a $0.46 annualized dividend and a dividend yield of 0.45%. The ex-dividend date of this dividend was Monday, July 8th. Micron Technology’s payout ratio is presently -32.39%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on MU shares. The Goldman Sachs Group lifted their price target on shares of Micron Technology from $138.00 to $158.00 and gave the stock a “buy” rating in a report on Thursday, June 27th. Raymond James lifted their price target on shares of Micron Technology from $130.00 to $160.00 and gave the stock an “outperform” rating in a report on Friday, June 21st. Wedbush reiterated an “outperform” rating and set a $170.00 price target on shares of Micron Technology in a report on Thursday, June 27th. Stifel Nicolaus lifted their price target on shares of Micron Technology from $140.00 to $165.00 and gave the stock a “buy” rating in a report on Tuesday, June 18th. Finally, Mizuho lifted their price target on shares of Micron Technology from $150.00 to $155.00 and gave the stock a “buy” rating in a report on Friday, May 31st. Two research analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $158.72.

Insider Buying and Selling

In related news, EVP April S. Arnzen sold 4,890 shares of the business’s stock in a transaction dated Thursday, June 27th. The shares were sold at an average price of $135.86, for a total transaction of $664,355.40. Following the transaction, the executive vice president now directly owns 142,321 shares in the company, valued at $19,335,731.06. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of the business’s stock in a transaction dated Thursday, June 27th. The shares were sold at an average price of $135.86, for a total value of $664,355.40. Following the transaction, the executive vice president now directly owns 142,321 shares in the company, valued at $19,335,731.06. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Sanjay Mehrotra sold 7,000 shares of the business’s stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $120.32, for a total transaction of $842,240.00. Following the completion of the transaction, the chief executive officer now owns 719,049 shares in the company, valued at $86,515,975.68. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 214,730 shares of company stock worth $26,897,699. 0.32% of the stock is owned by insiders.

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.