3,252 Shares in Micron Technology, Inc. $MU Purchased by Marble Wealth LLC

Marble Wealth LLC acquired a new position in Micron Technology, Inc. (NASDAQ:MUFree Report) in the fourth quarter, Holdings Channel.com reports. The firm acquired 3,252 shares of the semiconductor manufacturer’s stock, valued at approximately $928,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in shares of Micron Technology by 1.9% in the 4th quarter. Vanguard Group Inc. now owns 106,608,094 shares of the semiconductor manufacturer’s stock worth $30,427,016,000 after purchasing an additional 1,954,644 shares in the last quarter. State Street Corp boosted its holdings in shares of Micron Technology by 0.6% in the 3rd quarter. State Street Corp now owns 51,659,173 shares of the semiconductor manufacturer’s stock worth $8,643,613,000 after purchasing an additional 285,582 shares in the last quarter. Capital International Investors boosted its holdings in shares of Micron Technology by 0.7% in the 3rd quarter. Capital International Investors now owns 23,372,821 shares of the semiconductor manufacturer’s stock worth $3,910,198,000 after purchasing an additional 155,860 shares in the last quarter. Norges Bank purchased a new position in shares of Micron Technology in the 4th quarter worth about $6,433,456,000. Finally, Invesco Ltd. boosted its holdings in shares of Micron Technology by 8.0% in the 3rd quarter. Invesco Ltd. now owns 9,622,166 shares of the semiconductor manufacturer’s stock worth $1,609,981,000 after purchasing an additional 708,716 shares in the last quarter. 80.84% of the stock is currently owned by hedge funds and other institutional investors.

More Micron Technology News

Here are the key news stories impacting Micron Technology this week:

Analyst Ratings Changes

A number of research firms have recently issued reports on MU. JPMorgan Chase & Co. upped their price objective on Micron Technology from $350.00 to $550.00 and gave the stock an “overweight” rating in a report on Thursday, March 19th. KeyCorp upped their price objective on Micron Technology from $450.00 to $600.00 and gave the stock an “overweight” rating in a report on Thursday, March 19th. DA Davidson began coverage on Micron Technology in a report on Monday, May 11th. They issued a “buy” rating and a $1,000.00 price objective for the company. Royal Bank Of Canada upped their price objective on Micron Technology from $425.00 to $525.00 and gave the stock an “outperform” rating in a report on Monday, March 16th. Finally, Bank of America upped their price objective on Micron Technology from $400.00 to $500.00 and gave the stock a “buy” rating in a report on Thursday, March 19th. Five research analysts have rated the stock with a Strong Buy rating, thirty have assigned a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Micron Technology currently has a consensus rating of “Buy” and a consensus price target of $621.97.

View Our Latest Stock Report on Micron Technology

Micron Technology Trading Up 2.8%

Shares of MU stock opened at $1,064.10 on Wednesday. The stock has a market capitalization of $1.20 trillion, a PE ratio of 50.24 and a beta of 2.15. Micron Technology, Inc. has a 1-year low of $96.96 and a 1-year high of $1,076.56. The business has a 50-day moving average of $569.31 and a 200 day moving average of $418.02. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.90 and a quick ratio of 2.32.

Micron Technology (NASDAQ:MUGet Free Report) last issued its earnings results on Wednesday, March 18th. The semiconductor manufacturer reported $12.20 earnings per share for the quarter, beating the consensus estimate of $9.19 by $3.01. The company had revenue of $23.86 billion during the quarter, compared to analysts’ expectations of $19.97 billion. Micron Technology had a return on equity of 41.16% and a net margin of 41.49%.Micron Technology’s quarterly revenue was up 196 compared to the same quarter last year. During the same period in the prior year, the business posted $1.56 EPS. As a group, sell-side analysts anticipate that Micron Technology, Inc. will post 58.62 earnings per share for the current year.

Micron Technology Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 15th. Investors of record on Monday, March 30th were issued a dividend of $0.15 per share. The ex-dividend date was Monday, March 30th. This represents a $0.60 annualized dividend and a yield of 0.1%. This is a boost from Micron Technology’s previous quarterly dividend of $0.12. Micron Technology’s dividend payout ratio (DPR) is currently 2.83%.

Insider Buying and Selling

In related news, CEO Sanjay Mehrotra sold 37,439 shares of the stock in a transaction dated Friday, May 29th. The stock was sold at an average price of $960.38, for a total transaction of $35,955,666.82. Following the completion of the sale, the chief executive officer directly owned 387,064 shares in the company, valued at $371,728,524.32. This represents a 8.82% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP April S. Arnzen sold 40,000 shares of the company’s stock in a transaction that occurred on Wednesday, April 1st. The shares were sold at an average price of $347.39, for a total value of $13,895,600.00. Following the transaction, the executive vice president directly owned 125,737 shares of the company’s stock, valued at $43,679,776.43. The trade was a 24.13% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 146,000 shares of company stock valued at $85,486,715. 0.24% of the stock is owned by insiders.

About Micron Technology

(Free Report)

Micron Technology, Inc is a global semiconductor company that designs and manufactures memory and storage solutions. Its product portfolio includes dynamic random-access memory (DRAM), NAND flash memory, solid-state drives (SSDs), memory modules and embedded memory solutions for a wide range of computing and electronic devices. Micron supplies components used in data centers, enterprise and cloud infrastructure, client computing, mobile devices, automotive systems and industrial applications, and also markets consumer-facing products under the Crucial brand.

Founded in 1978 and headquartered in Boise, Idaho, Micron has grown into an international manufacturer with research, development and production facilities across multiple regions.

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Institutional Ownership by Quarter for Micron Technology (NASDAQ:MU)

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