Micron Technology, Inc. (NASDAQ:MU) Shares Purchased by Intech Investment Management LLC

Intech Investment Management LLC increased its position in shares of Micron Technology, Inc. (NASDAQ:MU) by 111.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 93,026 shares of the semiconductor manufacturer’s stock after acquiring an additional 49,001 shares during the period. Intech Investment Management LLC’s holdings in Micron Technology were worth $12,236,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of MU. Vanguard Group Inc. increased its stake in Micron Technology by 1.8% in the 1st quarter. Vanguard Group Inc. now owns 96,666,590 shares of the semiconductor manufacturer’s stock worth $11,396,024,000 after purchasing an additional 1,681,815 shares in the last quarter. Capital World Investors increased its stake in Micron Technology by 6.6% in the 1st quarter. Capital World Investors now owns 22,748,381 shares of the semiconductor manufacturer’s stock worth $2,681,807,000 after purchasing an additional 1,400,154 shares in the last quarter. Sanders Capital LLC increased its stake in Micron Technology by 2.3% in the 4th quarter. Sanders Capital LLC now owns 22,583,348 shares of the semiconductor manufacturer’s stock worth $1,927,263,000 after purchasing an additional 503,923 shares in the last quarter. Capital International Investors increased its stake in Micron Technology by 15.1% in the 1st quarter. Capital International Investors now owns 18,303,506 shares of the semiconductor manufacturer’s stock worth $2,157,800,000 after purchasing an additional 2,397,885 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD increased its stake in Micron Technology by 22.2% in 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 purchasing an additional 3,315,988 shares in the last quarter. 80.84% of the stock is owned by institutional investors and hedge funds.

Micron Technology Stock Performance

Shares of NASDAQ MU opened at $90.90 on Friday. The company has a quick ratio of 2.16, a current ratio of 3.41 and a debt-to-equity ratio of 0.29. The business’s 50 day moving average is $99.81 and its two-hundred day moving average is $114.56. The company has a market cap of $100.79 billion, a P/E ratio of -64.01 and a beta of 1.17. Micron Technology, Inc. has a 12 month low of $63.83 and a 12 month high of $157.54.

Micron Technology (NASDAQ:MU) last issued its quarterly earnings results on Wednesday, June 26th. The semiconductor manufacturer reported $0.62 EPS for the quarter, topping the consensus estimate of $0.48 by $0.14. The company had revenue of $6.81 billion for the quarter, compared to the consensus estimate of $6.67 billion. Micron Technology had a negative return on equity of 4.01% and a negative net margin of 7.20%. The company’s revenue for the quarter was up 81.5% on a year-over-year basis. During the same period in the previous year, the business posted ($1.57) EPS. On average, equities analysts expect that Micron Technology, Inc. will post 0.61 EPS for the current year.

Micron Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 23rd. Stockholders of record on Monday, July 8th were given a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.51%. The ex-dividend date was Monday, July 8th. Micron Technology’s dividend payout ratio is presently -32.39%.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on MU shares. BNP Paribas lowered Micron Technology from an “outperform” rating to an “underperform” rating and decreased their price objective for the stock from $140.00 to $67.00 in a research report on Thursday, September 12th. Cantor Fitzgerald raised their price objective on Micron Technology from $150.00 to $180.00 and gave the stock an “overweight” rating in a research report on Monday, June 17th. Stifel Nicolaus decreased their price objective on Micron Technology from $165.00 to $135.00 and set a “buy” rating for the company in a research report on Thursday. Wolfe Research raised their price objective on Micron Technology from $150.00 to $200.00 and gave the stock an “outperform” rating in a research report on Friday, June 21st. Finally, The Goldman Sachs Group raised their price objective on Micron Technology from $138.00 to $158.00 and gave the stock a “buy” rating in a research report on Thursday, June 27th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-five have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $145.65.

Insider Activity at Micron Technology

In related news, EVP April S. Arnzen sold 4,890 shares of the company’s stock in a transaction on Thursday, June 27th. The stock was sold at an average price of $135.86, for a total value of $664,355.40. Following the completion of the transaction, the executive vice president now directly owns 142,321 shares in the company, valued at $19,335,731.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.32% of the stock is currently owned by corporate 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.