Capital World Investors Has $3.46 Billion Holdings in Micron Technology, Inc. (NASDAQ:MU)

Capital World Investors increased its holdings in shares of Micron Technology, Inc. (NASDAQ:MU) by 63.7% during the fourth quarter, Holdings Channel reports. The fund owned 41,096,391 shares of the semiconductor manufacturer’s stock after purchasing an additional 15,993,036 shares during the period. Capital World Investors’ holdings in Micron Technology were worth $3,458,673,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of MU. SOA Wealth Advisors LLC. raised its position in Micron Technology by 37.6% in the 3rd quarter. SOA Wealth Advisors LLC. now owns 1,189 shares of the semiconductor manufacturer’s stock worth $123,000 after purchasing an additional 325 shares during the last quarter. SkyView Investment Advisors LLC lifted its stake in shares of Micron Technology by 3.7% during the third quarter. SkyView Investment Advisors LLC now owns 6,696 shares of the semiconductor manufacturer’s stock valued at $694,000 after acquiring an additional 241 shares during the period. Pine Valley Investments Ltd Liability Co boosted its holdings in Micron Technology by 524.2% in the third quarter. Pine Valley Investments Ltd Liability Co now owns 14,863 shares of the semiconductor manufacturer’s stock valued at $1,541,000 after acquiring an additional 12,482 shares during the last quarter. World Investment Advisors LLC raised its holdings in Micron Technology by 103.7% during the 3rd quarter. World Investment Advisors LLC now owns 3,315 shares of the semiconductor manufacturer’s stock worth $344,000 after purchasing an additional 1,688 shares during the last quarter. Finally, Arvest Bank Trust Division acquired a new stake in shares of Micron Technology during the 3rd quarter worth approximately $21,406,000. Institutional investors own 80.84% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on MU shares. Morgan Stanley lifted their price objective on shares of Micron Technology from $91.00 to $112.00 and gave the stock an “equal weight” rating in a research note on Friday, March 21st. Wedbush restated an “outperform” rating and issued a $125.00 price target on shares of Micron Technology in a research note on Monday, March 17th. Royal Bank of Canada set a $125.00 price target on shares of Micron Technology in a research note on Wednesday, March 19th. Rosenblatt Securities reduced their target price on shares of Micron Technology from $250.00 to $200.00 and set a “buy” rating for the company in a report on Friday, March 21st. Finally, Robert W. Baird increased their price objective on Micron Technology from $130.00 to $163.00 and gave the stock an “outperform” rating in a research report on Friday, March 21st. One analyst has rated the stock with a sell rating, three have issued a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $129.36.

Insider Buying and Selling at Micron Technology

In related news, Director Mary Pat Mccarthy sold 2,404 shares of Micron Technology stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $92.93, for a total value of $223,403.72. Following the completion of the sale, the director now owns 27,358 shares of the company’s stock, valued at approximately $2,542,378.94. This trade represents a 8.08 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP April S. Arnzen sold 15,000 shares of the business’s stock in a transaction on Tuesday, March 25th. The shares were sold at an average price of $96.18, for a total transaction of $1,442,700.00. Following the sale, the executive vice president now directly owns 164,769 shares in the company, valued at $15,847,482.42. The trade was a 8.34 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.30% of the company’s stock.

Micron Technology Stock Performance

MU stock opened at $68.80 on Friday. The firm has a market cap of $76.89 billion, a PE ratio of 19.83 and a beta of 1.18. Micron Technology, Inc. has a 1-year low of $61.54 and a 1-year high of $157.54. The company has a current ratio of 2.72, a quick ratio of 1.75 and a debt-to-equity ratio of 0.28. The stock has a 50-day moving average price of $88.23 and a 200-day moving average price of $95.92.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings results on Thursday, March 20th. The semiconductor manufacturer reported $1.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.43 by $0.13. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. The business had revenue of $8.05 billion for the quarter, compared to analyst estimates of $7.93 billion. During the same quarter in the prior year, the company earned $0.42 earnings per share. The company’s quarterly revenue was up 38.2% on a year-over-year basis. As a group, equities research analysts expect that Micron Technology, Inc. will post 6.08 earnings per share for the current year.

Micron Technology Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were given a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a yield of 0.67%. The ex-dividend date was Monday, March 31st. Micron Technology’s payout ratio is currently 11.03%.

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.