Quantinno Capital Management LP Boosts Stock Position in Micron Technology, Inc. (NASDAQ:MU)

Quantinno Capital Management LP boosted its stake in shares of Micron Technology, Inc. (NASDAQ:MU) by 82.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 133,619 shares of the semiconductor manufacturer’s stock after purchasing an additional 60,468 shares during the quarter. Quantinno Capital Management LP’s holdings in Micron Technology were worth $11,245,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in 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 holdings in shares of Micron Technology by 63.7% during the fourth quarter. Capital World Investors now owns 41,096,391 shares of the semiconductor manufacturer’s stock worth $3,458,673,000 after buying an additional 15,993,036 shares during the last quarter. FMR LLC lifted its holdings in shares of Micron Technology by 34.6% during the fourth quarter. FMR LLC now owns 47,672,462 shares of the semiconductor manufacturer’s stock worth $4,012,114,000 after buying an additional 12,249,341 shares during the last quarter. Capital Research Global Investors increased its position in shares of Micron Technology by 139.7% during 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 purchasing an additional 9,489,579 shares during the period. Finally, Capital International Investors increased its position 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 valued at $1,383,442,000 after purchasing an additional 4,375,232 shares during the period. Institutional investors own 80.84% of the company’s stock.

Micron Technology Price Performance

Shares of NASDAQ:MU opened at $95.32 on Thursday. The company’s fifty day moving average price is $82.78 and its 200 day moving average price is $92.83. Micron Technology, Inc. has a 12 month low of $61.54 and a 12 month high of $157.54. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.72 and a quick ratio of 1.75. The firm has a market capitalization of $106.53 billion, a P/E ratio of 27.47 and a beta of 1.21.

Micron Technology (NASDAQ:MU) last issued its earnings results on Thursday, March 20th. The semiconductor manufacturer reported $1.56 earnings per share for the quarter, beating the consensus estimate of $1.43 by $0.13. Micron Technology had a net margin of 13.34% and a return on equity of 8.32%. The business had revenue of $8.05 billion for the quarter, compared to the consensus estimate of $7.93 billion. During the same quarter in the previous year, the firm earned $0.42 earnings per share. The business’s quarterly revenue was up 38.2% compared to the same quarter last year. As a group, sell-side analysts predict that Micron Technology, Inc. will post 6.08 earnings per share for the current fiscal year.

Micron Technology Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were issued a $0.115 dividend. The ex-dividend date of this dividend was Monday, March 31st. This represents a $0.46 dividend on an annualized basis and a yield of 0.48%. Micron Technology’s payout ratio is 11.03%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Morgan Stanley lowered their price target on Micron Technology from $112.00 to $98.00 and set an “equal weight” rating on the stock in a research report on Wednesday, May 7th. Cantor Fitzgerald restated an “overweight” rating and issued a $130.00 price target on shares of Micron Technology in a report on Friday, March 21st. Wells Fargo & Company reiterated an “equal weight” rating on shares of Micron Technology in a report on Monday, April 28th. China Renaissance downgraded Micron Technology from a “buy” rating to a “hold” rating and set a $84.00 price objective for the company. in a report on Wednesday, March 26th. Finally, JPMorgan Chase & Co. decreased their price objective on Micron Technology from $145.00 to $135.00 and set an “overweight” rating for the company in a report on Friday, March 21st. Two analysts have rated the stock with a sell rating, four have given a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $126.48.

Insider Activity at Micron Technology

In related news, EVP April S. Arnzen sold 15,000 shares of the stock in a transaction dated Tuesday, March 25th. The shares were sold at an average price of $96.18, for a total value of $1,442,700.00. Following the completion of the transaction, the executive vice president now owns 164,769 shares in the company, valued at $15,847,482.42. This represents a 8.34% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Mary Pat Mccarthy sold 2,404 shares of the stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $80.00, for a total transaction of $192,320.00. Following the completion of the transaction, the director now owns 24,954 shares of the company’s stock, valued at $1,996,320. This represents a 8.79% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 19,808 shares of company stock worth $1,858,424. 0.30% of the stock is owned by company insiders.

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.