Northern Trust Corp raised its position in Micron Technology, Inc. (NASDAQ:MU – Free Report) by 0.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,833,670 shares of the semiconductor manufacturer’s stock after purchasing an additional 80,345 shares during the quarter. Northern Trust Corp owned 0.99% of Micron Technology worth $737,015,000 as of its most recent SEC filing.
Several other institutional investors have also added to or reduced their stakes in MU. Fortis Capital Advisors LLC bought a new stake in Micron Technology during the 4th quarter valued at about $25,000. OFI Invest Asset Management bought a new stake in shares of Micron Technology during the third quarter valued at approximately $27,000. Annis Gardner Whiting Capital Advisors LLC purchased a new stake in shares of Micron Technology in the third quarter valued at approximately $28,000. Coppell Advisory Solutions LLC bought a new position in Micron Technology in the second quarter worth approximately $32,000. Finally, 1832 Asset Management L.P. purchased a new position in Micron Technology during the 2nd quarter worth $38,000. Institutional investors own 79.25% of the company’s stock.
Insider Transactions at Micron Technology
In other Micron Technology news, CEO Sanjay Mehrotra sold 7,000 shares of Micron Technology stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $82.03, for a total transaction of $574,210.00. Following the transaction, the chief executive officer now directly owns 788,557 shares of the company’s stock, valued at $64,685,330.71. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, EVP Scott J. Deboer sold 28,228 shares of the firm’s stock in a transaction dated Wednesday, December 27th. The stock was sold at an average price of $87.24, for a total transaction of $2,462,610.72. Following the completion of the sale, the executive vice president now directly owns 203,342 shares of the company’s stock, valued at approximately $17,739,556.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Sanjay Mehrotra sold 7,000 shares of the company’s stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $82.03, for a total transaction of $574,210.00. Following the completion of the transaction, the chief executive officer now directly owns 788,557 shares in the company, valued at approximately $64,685,330.71. The disclosure for this sale can be found here. Insiders have sold a total of 277,228 shares of company stock worth $23,022,951 in the last quarter. Company insiders own 0.32% of the company’s stock.
Analyst Upgrades and Downgrades
A number of equities analysts have recently issued reports on MU shares. JPMorgan Chase & Co. increased their price target on Micron Technology from $90.00 to $105.00 and gave the stock an “overweight” rating in a research report on Thursday, December 21st. The Goldman Sachs Group increased their target price on shares of Micron Technology from $85.00 to $97.00 and gave the stock a “buy” rating in a report on Thursday, December 21st. TD Cowen boosted their price target on shares of Micron Technology from $78.00 to $100.00 and gave the company an “outperform” rating in a report on Monday, December 18th. Wedbush reiterated an “outperform” rating and set a $95.00 price objective on shares of Micron Technology in a research note on Thursday, December 21st. Finally, Morgan Stanley boosted their price objective on shares of Micron Technology from $71.50 to $74.75 and gave the stock an “underweight” rating in a research note on Thursday, December 21st. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and twenty-two have assigned a buy rating to the stock. According to MarketBeat.com, Micron Technology has a consensus rating of “Moderate Buy” and a consensus target price of $94.95.
Micron Technology Trading Up 5.0 %
Shares of MU stock traded up $4.10 on Thursday, reaching $85.59. 6,781,437 shares of the company were exchanged, compared to its average volume of 13,336,132. Micron Technology, Inc. has a 1 year low of $52.76 and a 1 year high of $90.04. The company has a quick ratio of 2.14, a current ratio of 3.53 and a debt-to-equity ratio of 0.29. The business has a 50-day moving average price of $84.38 and a 200 day moving average price of $75.26.
Micron Technology (NASDAQ:MU – Get Free Report) last released its earnings results on Wednesday, December 20th. The semiconductor manufacturer reported ($0.95) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.01) by $0.06. The business had revenue of $4.73 billion during the quarter, compared to analyst estimates of $4.58 billion. Micron Technology had a negative net margin of 42.47% and a negative return on equity of 14.44%. The company’s revenue for the quarter was up 15.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.15) earnings per share. On average, research analysts forecast that Micron Technology, Inc. will post -0.99 EPS for the current fiscal year.
Micron Technology Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Thursday, January 18th. Shareholders of record on Tuesday, January 2nd were paid a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.54%. The ex-dividend date of this dividend was Friday, December 29th. Micron Technology’s dividend payout ratio (DPR) is presently -7.32%.
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.