Micron Technology, Inc. (NASDAQ:MU) Shares Acquired by PKO Investment Management Joint Stock Co

PKO Investment Management Joint Stock Co lifted its holdings in shares of Micron Technology, Inc. (NASDAQ:MU) by 4.2% during the 1st quarter, Holdings Channel.com reports. The fund owned 75,000 shares of the semiconductor manufacturer’s stock after buying an additional 3,000 shares during the period. PKO Investment Management Joint Stock Co’s holdings in Micron Technology were worth $6,517,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. E Fund Management Co. Ltd. increased its position in Micron Technology by 31.8% during the fourth quarter. E Fund Management Co. Ltd. now owns 36,378 shares of the semiconductor manufacturer’s stock worth $3,062,000 after buying an additional 8,780 shares during the period. CIBC Private Wealth Group LLC increased its position in Micron Technology by 43.0% during the fourth quarter. CIBC Private Wealth Group LLC now owns 14,178 shares of the semiconductor manufacturer’s stock worth $1,193,000 after buying an additional 4,264 shares during the period. Landscape Capital Management L.L.C. increased its position in Micron Technology by 167.0% during the fourth quarter. Landscape Capital Management L.L.C. now owns 45,758 shares of the semiconductor manufacturer’s stock worth $3,851,000 after buying an additional 28,621 shares during the period. Duquesne Family Office LLC purchased a new position in shares of Micron Technology in the 4th quarter valued at approximately $34,412,000. Finally, Janus Henderson Group PLC grew its stake in shares of Micron Technology by 74.6% in the 4th quarter. Janus Henderson Group PLC now owns 2,646,936 shares of the semiconductor manufacturer’s stock valued at $222,779,000 after purchasing an additional 1,130,680 shares during the last quarter. Institutional investors and hedge funds own 80.84% of the company’s stock.

Analyst Ratings Changes

MU has been the topic of several analyst reports. Rosenblatt Securities lowered their target price on Micron Technology from $250.00 to $200.00 and set a “buy” rating on the stock in a research note on Friday, March 21st. UBS Group lifted their target price on Micron Technology from $92.00 to $120.00 and gave the company a “buy” rating in a research note on Thursday, June 5th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $130.00 target price on shares of Micron Technology in a research note on Friday, March 21st. Royal Bank of Canada set a $125.00 target price on Micron Technology in a research note on Wednesday, March 19th. Finally, Barclays lowered their target price on Micron Technology from $115.00 to $95.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 22nd. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Micron Technology currently has a consensus rating of “Moderate Buy” and an average price target of $129.00.

Insider Buying and Selling at Micron Technology

In other news, CEO Sanjay Mehrotra sold 3,938 shares of the company’s stock in a transaction on Monday, June 9th. The stock was sold at an average price of $110.88, for a total value of $436,645.44. Following the sale, the chief executive officer now directly owns 387,175 shares in the company, valued at $42,929,964. This represents a 1.01% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Mary Pat Mccarthy sold 2,404 shares of the company’s stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $80.00, for a total value of $192,320.00. Following the completion of the sale, the director now owns 24,954 shares in the company, valued at $1,996,320. This represents a 8.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 44,904 shares of company stock worth $4,665,124. 0.30% of the stock is owned by corporate insiders.

Micron Technology Stock Performance

NASDAQ:MU opened at $119.84 on Tuesday. 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 firm has a 50-day moving average price of $89.28 and a two-hundred day moving average price of $92.68. Micron Technology, Inc. has a twelve month low of $61.54 and a twelve month high of $157.54. The company has a market capitalization of $133.93 billion, a P/E ratio of 34.54 and a beta of 1.28.

Micron Technology (NASDAQ:MU) last posted 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 firm had revenue of $8.05 billion during the quarter, compared to the consensus estimate of $7.93 billion. During the same period last year, the firm posted $0.42 EPS. The firm’s revenue for the quarter was up 38.2% on a year-over-year basis. As a group, research analysts expect that Micron Technology, Inc. will post 6.08 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, April 15th. Shareholders of record on Monday, March 31st were issued a dividend of $0.115 per share. The ex-dividend date was Monday, March 31st. This represents a $0.46 annualized dividend and a yield of 0.38%. Micron Technology’s dividend payout ratio (DPR) 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.