Micron Technology, Inc. (NASDAQ:MU) Shares Acquired by Mizuho Securities Co. Ltd.

Mizuho Securities Co. Ltd. grew its holdings in Micron Technology, Inc. (NASDAQ:MU) by 50.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,970 shares of the semiconductor manufacturer’s stock after acquiring an additional 1,000 shares during the period. Micron Technology comprises approximately 0.9% of Mizuho Securities Co. Ltd.’s portfolio, making the stock its 24th largest position. Mizuho Securities Co. Ltd.’s holdings in Micron Technology were worth $253,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of MU. FMR LLC grew its stake in shares of Micron Technology by 47.9% during the third quarter. FMR LLC now owns 21,899,184 shares of the semiconductor manufacturer’s stock worth $1,489,801,000 after purchasing an additional 7,089,790 shares in the last quarter. Wellington Management Group LLP grew its stake in shares of Micron Technology by 43.4% during the third quarter. Wellington Management Group LLP now owns 17,383,628 shares of the semiconductor manufacturer’s stock worth $1,182,608,000 after purchasing an additional 5,257,201 shares in the last quarter. Morgan Stanley grew its stake in shares of Micron Technology by 19.7% during the third quarter. Morgan Stanley now owns 17,303,400 shares of the semiconductor manufacturer’s stock worth $1,177,151,000 after purchasing an additional 2,852,688 shares in the last quarter. California Public Employees Retirement System grew its stake in shares of Micron Technology by 125.0% during the fourth quarter. California Public Employees Retirement System now owns 4,541,662 shares of the semiconductor manufacturer’s stock worth $387,585,000 after purchasing an additional 2,523,267 shares in the last quarter. Finally, Phoenix Holdings Ltd. grew its stake in shares of Micron Technology by 8,336.6% during the third quarter. Phoenix Holdings Ltd. now owns 1,732,231 shares of the semiconductor manufacturer’s stock worth $117,762,000 after purchasing an additional 1,753,262 shares in the last quarter. Institutional investors and hedge funds own 80.84% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on MU. Robert W. Baird boosted their price target on shares of Micron Technology from $78.00 to $115.00 and gave the company a “neutral” rating in a research report on Tuesday, March 19th. KeyCorp boosted their price target on shares of Micron Technology from $135.00 to $150.00 and gave the company an “overweight” rating in a research report on Monday, April 8th. Mizuho boosted their price target on shares of Micron Technology from $105.00 to $124.00 and gave the company a “buy” rating in a research report on Thursday, March 21st. Barclays boosted their price target on shares of Micron Technology from $95.00 to $120.00 and gave the company an “overweight” rating in a research report on Monday, March 18th. Finally, StockNews.com raised shares of Micron Technology from a “sell” rating to a “hold” rating in a research report on Friday, March 22nd. One research analyst has rated the stock with a sell rating, two have given a hold rating and twenty-four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $122.20.

Insiders Place Their Bets

In other Micron Technology news, CEO Sanjay Mehrotra sold 7,000 shares of the company’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $80.44, for a total transaction of $563,080.00. Following the transaction, the chief executive officer now directly owns 788,557 shares in the company, valued at $63,431,525.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, EVP April S. Arnzen sold 4,890 shares of the stock in a transaction that occurred on Wednesday, March 27th. The shares were sold at an average price of $119.30, for a total value of $583,377.00. Following the sale, the executive vice president now directly owns 148,817 shares in the company, valued at $17,753,868.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Sanjay Mehrotra sold 7,000 shares of the stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $80.44, for a total transaction of $563,080.00. Following the completion of the sale, the chief executive officer now owns 788,557 shares in the company, valued at $63,431,525.08. The disclosure for this sale can be found here. Over the last three months, insiders have sold 306,890 shares of company stock worth $33,005,157. 0.32% of the stock is owned by company insiders.

Micron Technology Stock Performance

NASDAQ MU traded up $3.34 during trading hours on Tuesday, hitting $112.46. 17,854,605 shares of the stock were exchanged, compared to its average volume of 20,590,105. The company has a market cap of $124.53 billion, a price-to-earnings ratio of -32.60 and a beta of 1.27. Micron Technology, Inc. has a 12-month low of $58.03 and a 12-month high of $130.54. The stock has a 50-day moving average of $104.04 and a 200 day moving average of $87.52. The company has a quick ratio of 2.40, a current ratio of 3.74 and a debt-to-equity ratio of 0.30.

Micron Technology (NASDAQ:MU) last issued its earnings results on Wednesday, March 20th. The semiconductor manufacturer reported $0.42 earnings per share for the quarter, topping the consensus estimate of ($0.27) by $0.69. Micron Technology had a negative net margin of 20.57% and a negative return on equity of 8.98%. The company had revenue of $5.82 billion for the quarter, compared to analyst estimates of $5.35 billion. During the same period in the prior year, the business posted ($2.03) earnings per share. The firm’s revenue for the quarter was up 57.7% compared to the same quarter last year. As a group, equities research analysts forecast that Micron Technology, Inc. will post 0.24 earnings per share for the current year.

Micron Technology Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 16th. Shareholders of record on Monday, April 1st were given a dividend of $0.115 per share. The ex-dividend date of this dividend was Thursday, March 28th. This represents a $0.46 annualized dividend and a yield of 0.41%. Micron Technology’s payout ratio is currently -13.33%.

Micron Technology 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.