National Mutual Insurance Federation of Agricultural Cooperatives lessened its stake in Micron Technology, Inc. (NASDAQ:MU – Free Report) by 48.1% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 162,000 shares of the semiconductor manufacturer’s stock after selling 150,000 shares during the quarter. National Mutual Insurance Federation of Agricultural Cooperatives’ holdings in Micron Technology were worth $19,966,000 at the end of the most recent quarter.
A number of other institutional investors have also recently added to or reduced their stakes in MU. 180 Wealth Advisors LLC lifted its position in shares of Micron Technology by 1.9% during the 2nd quarter. 180 Wealth Advisors LLC now owns 5,235 shares of the semiconductor manufacturer’s stock valued at $645,000 after acquiring an additional 99 shares during the period. SilverOak Wealth Management LLC increased its stake in Micron Technology by 3.5% in the 2nd quarter. SilverOak Wealth Management LLC now owns 2,955 shares of the semiconductor manufacturer’s stock valued at $364,000 after purchasing an additional 100 shares in the last quarter. HMS Capital Management LLC raised its holdings in Micron Technology by 0.6% during the second quarter. HMS Capital Management LLC now owns 19,271 shares of the semiconductor manufacturer’s stock worth $2,375,000 after purchasing an additional 107 shares during the last quarter. D.B. Root & Company LLC raised its stake in shares of Micron Technology by 3.7% during the 1st quarter. D.B. Root & Company LLC now owns 3,018 shares of the semiconductor manufacturer’s stock worth $262,000 after buying an additional 108 shares during the last quarter. Finally, Werlinich Asset Management LLC boosted its position in shares of Micron Technology by 1.1% in the 2nd quarter. Werlinich Asset Management LLC now owns 10,685 shares of the semiconductor manufacturer’s stock worth $1,317,000 after buying an additional 115 shares in the last quarter. Hedge funds and other institutional investors own 80.84% of the company’s stock.
Micron Technology Price Performance
MU opened at $241.11 on Wednesday. Micron Technology, Inc. has a 1 year low of $61.54 and a 1 year high of $257.07. The company’s 50 day simple moving average is $186.46 and its 200 day simple moving average is $136.69. The stock has a market capitalization of $270.64 billion, a PE ratio of 31.77, a P/E/G ratio of 0.51 and a beta of 1.62. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.79 and a current ratio of 2.52.
Micron Technology Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Tuesday, October 21st. Investors of record on Friday, October 3rd were issued a $0.115 dividend. The ex-dividend date was Friday, October 3rd. This represents a $0.46 dividend on an annualized basis and a yield of 0.2%. Micron Technology’s dividend payout ratio (DPR) is presently 6.06%.
Analyst Upgrades and Downgrades
Several analysts have recently commented on the stock. Needham & Company LLC increased their price target on shares of Micron Technology from $150.00 to $200.00 and gave the company a “buy” rating in a research report on Wednesday, September 24th. Wedbush boosted their price target on Micron Technology from $200.00 to $220.00 and gave the stock an “outperform” rating in a report on Wednesday, September 24th. Wall Street Zen raised Micron Technology from a “buy” rating to a “strong-buy” rating in a research note on Sunday, October 12th. The Goldman Sachs Group lifted their price objective on Micron Technology from $145.00 to $180.00 and gave the stock a “neutral” rating in a research report on Thursday, October 9th. Finally, BNP Paribas Exane upgraded shares of Micron Technology from an “underperform” rating to an “outperform” rating and set a $270.00 target price on the stock in a report on Monday, October 13th. Five equities research analysts have rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, Micron Technology presently has a consensus rating of “Buy” and a consensus price target of $205.64.
Insider Transactions at Micron Technology
In other Micron Technology news, EVP April S. Arnzen sold 15,000 shares of Micron Technology stock in a transaction that occurred on Tuesday, September 30th. The shares were sold at an average price of $164.04, for a total transaction of $2,460,600.00. Following the transaction, the executive vice president directly owned 131,580 shares of the company’s stock, valued at $21,584,383.20. The trade was a 10.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Mark J. Murphy sold 126,000 shares of the business’s stock in a transaction that occurred on Thursday, October 30th. The stock was sold at an average price of $225.31, for a total transaction of $28,389,060.00. Following the sale, the chief financial officer owned 219,693 shares of the company’s stock, valued at approximately $49,499,029.83. This represents a 36.45% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 409,756 shares of company stock worth $85,308,033 over the last ninety days. 0.30% of the stock is owned by insiders.
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.
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