Huntington National Bank lifted its holdings in Micron Technology, Inc. (NASDAQ:MU–Get Rating) by 9.6% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 3,421 shares of the semiconductor manufacturer’s stock after purchasing an additional 300 shares during the quarter. Huntington National Bank’s holdings in Micron Technology were worth $266,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also modified their holdings of MU. State Street Corp lifted its stake in Micron Technology by 2.4% in the 4th quarter. State Street Corp now owns 47,336,782 shares of the semiconductor manufacturer’s stock valued at $4,414,090,000 after acquiring an additional 1,104,114 shares in the last quarter. Sanders Capital LLC lifted its stake in Micron Technology by 2.2% in the 4th quarter. Sanders Capital LLC now owns 41,274,540 shares of the semiconductor manufacturer’s stock valued at $4,207,253,000 after acquiring an additional 883,165 shares in the last quarter. Capital World Investors lifted its stake in Micron Technology by 84.5% in the 4th quarter. Capital World Investors now owns 27,419,458 shares of the semiconductor manufacturer’s stock valued at $2,554,123,000 after acquiring an additional 12,554,989 shares in the last quarter. Capital Research Global Investors lifted its stake in Micron Technology by 5.2% in the 4th quarter. Capital Research Global Investors now owns 25,812,955 shares of the semiconductor manufacturer’s stock valued at $2,404,488,000 after acquiring an additional 1,267,685 shares in the last quarter. Finally, Capital International Investors lifted its stake in Micron Technology by 9.8% in the 4th quarter. Capital International Investors now owns 21,952,963 shares of the semiconductor manufacturer’s stock valued at $2,044,928,000 after acquiring an additional 1,953,985 shares in the last quarter. 80.35% of the stock is currently owned by institutional investors and hedge funds.
Micron Technology Stock Performance
Shares ofNASDAQ MUopened at $60.51 on Monday. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.24 and a quick ratio of 2.44. The stock’s fifty day moving average price is $59.83 and its two-hundred day moving average price is $70.58. Micron Technology, Inc. has a one year low of $51.40 and a one year high of $98.45. The firm has a market cap of $66.75 billion, a price-to-earnings ratio of 6.90, a P/E/G ratio of 0.56 and a beta of 1.28.
Micron Technology (NASDAQ:MU–Get Rating) last released its earnings results on Thursday, June 30th. The semiconductor manufacturer reported $2.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.33 by $0.17. The company had revenue of $8.64 billion for the quarter, compared to analyst estimates of $8.66 billion. Micron Technology had a return on equity of 21.91% and a net margin of 30.61%. Micron Technology’s quarterly revenue was up 16.4% on a year-over-year basis. During the same period in the prior year, the firm posted $1.81 EPS. On average, equities analysts forecast that Micron Technology, Inc. will post 8 EPS for the current year.
Micron Technology Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Tuesday, July 26th. Stockholders of record on Monday, July 11th were issued a dividend of $0.115 per share. This is a positive change from Micron Technology’s previous quarterly dividend of $0.10. This represents a $0.46 annualized dividend and a dividend yield of 0.76%. The ex-dividend date was Friday, July 8th. Micron Technology’s dividend payout ratio is 5.25%.
Wall Street Analysts Forecast Growth
Several equities research analysts have commented on the company. BMO Capital Markets cut their target price on Micron Technology from $115.00 to $85.00 and set an “outperform” rating on the stock in a research note on Monday, June 27th. Summit Insights cut Micron Technology from a “buy” rating to a “hold” rating in a research note on Sunday, June 12th. Raymond James cut Micron Technology from a “strong-buy” rating to an “outperform” rating and dropped their price objective for the stock from $72.00 to $65.00 in a research note on Tuesday, August 9th. Robert W. Baird dropped their price objective on Micron Technology from $90.00 to $60.00 and set a “neutral” rating on the stock in a research note on Friday, July 1st. Finally, Bank of America cut Micron Technology from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $70.00 to $62.00 in a research note on Friday, July 1st. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and twenty-three have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $86.54.
Insider Transactions at Micron Technology
In related news, SVPMichael W. Bokansold 16,600 shares of the firm’s stock in a transaction dated Tuesday, August 16th. The stock was sold at an average price of $63.82, for a total value of $1,059,412.00. Following the sale, the senior vice president now directly owns 119,126 shares of the company’s stock, valued at $7,602,621.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible throughthis link. 0.32% of the stock is currently owned by insiders.
Micron Technology Company Profile
Micron Technology, Inc designs, manufactures, and sells memory and storage products worldwide. The company operates through four segments: Compute and Networking Business Unit, Mobile Business Unit, Storage Business Unit, and Embedded Business Unit. It provides memory and storage technologies comprises DRAM products, which are dynamic random access memory semiconductor devices with low latency that provide high-speed data retrieval; NAND products that are non-volatile and re-writeable semiconductor storage devices; and NOR memory products, which are 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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