Intech Investment Management LLC Boosts Stock Holdings in Micron Technology, Inc. (NASDAQ:MU)

Intech Investment Management LLC grew its position in shares of Micron Technology, Inc. (NASDAQ:MU) by 129.1% in the 3rd quarter, Holdings Channel.com reports. The firm owned 213,096 shares of the semiconductor manufacturer’s stock after buying an additional 120,070 shares during the period. Intech Investment Management LLC’s holdings in Micron Technology were worth $22,100,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD raised its holdings in shares of Micron Technology by 22.2% during the 1st 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 acquiring an additional 3,315,988 shares during the period. Van ECK Associates Corp grew its position in shares of Micron Technology by 30.6% during the third quarter. Van ECK Associates Corp now owns 10,564,198 shares of the semiconductor manufacturer’s stock worth $1,109,769,000 after buying an additional 2,477,985 shares in the last quarter. Swedbank AB grew its position in shares of Micron Technology by 473.8% during the second quarter. Swedbank AB now owns 2,649,180 shares of the semiconductor manufacturer’s stock worth $348,447,000 after buying an additional 2,187,460 shares in the last quarter. 1832 Asset Management L.P. boosted its holdings in Micron Technology by 301,500.0% in the first quarter. 1832 Asset Management L.P. now owns 1,809,600 shares of the semiconductor manufacturer’s stock valued at $213,334,000 after purchasing an additional 1,809,000 shares in the last quarter. Finally, Canada Pension Plan Investment Board boosted its holdings in Micron Technology by 82.3% in the first quarter. Canada Pension Plan Investment Board now owns 2,959,481 shares of the semiconductor manufacturer’s stock valued at $348,893,000 after purchasing an additional 1,336,037 shares in the last quarter. Institutional investors and hedge funds own 80.84% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on MU shares. Needham & Company LLC reaffirmed a “buy” rating and set a $140.00 price target on shares of Micron Technology in a report on Thursday, September 26th. Wells Fargo & Company reduced their price target on shares of Micron Technology from $190.00 to $175.00 and set an “overweight” rating for the company in a research report on Wednesday, September 18th. TD Cowen upped their price target on shares of Micron Technology from $115.00 to $135.00 and gave the company a “buy” rating in a report on Thursday, September 26th. Cantor Fitzgerald reiterated an “overweight” rating and set a $150.00 price objective on shares of Micron Technology in a research report on Tuesday, October 1st. Finally, Robert W. Baird reduced their price objective on shares of Micron Technology from $172.00 to $150.00 and set an “outperform” rating on the stock in a research note on Friday, September 27th. One analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-six have assigned a buy rating to the stock. According to data from MarketBeat, Micron Technology currently has a consensus rating of “Moderate Buy” and a consensus price target of $143.04.

Micron Technology Stock Up 0.7 %

Shares of Micron Technology stock opened at $98.37 on Thursday. Micron Technology, Inc. has a fifty-two week low of $72.93 and a fifty-two week high of $157.54. The business has a 50-day moving average price of $101.93 and a 200 day moving average price of $112.42. The company has a quick ratio of 1.68, a current ratio of 2.64 and a debt-to-equity ratio of 0.29. The firm has a market cap of $109.07 billion, a P/E ratio of 144.66 and a beta of 1.18.

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

Micron Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 23rd. Shareholders of record on Monday, October 7th were issued a dividend of $0.115 per share. The ex-dividend date was Monday, October 7th. This represents a $0.46 annualized dividend and a yield of 0.47%. Micron Technology’s payout ratio is presently 67.65%.

Insider Buying and Selling at Micron Technology

In other 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 transaction of $552,570.00. Following the transaction, the executive vice president now directly owns 135,830 shares in the company, valued at $15,348,790. The trade was a 3.47 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.32% of the company’s stock.

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.