Handelsbanken Fonder AB grew its holdings in shares of Micron Technology, Inc. (NASDAQ:MU – Free Report) by 2.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 434,596 shares of the semiconductor manufacturer’s stock after acquiring an additional 9,992 shares during the quarter. Handelsbanken Fonder AB’s holdings in Micron Technology were worth $45,072,000 at the end of the most recent quarter.
A number of other large investors have also recently modified their holdings of the business. Hobbs Group Advisors LLC purchased a new position in Micron Technology in the 2nd quarter worth approximately $28,000. DecisionPoint Financial LLC purchased a new stake in Micron Technology during the first quarter valued at $25,000. Valued Wealth Advisors LLC increased its position in Micron Technology by 230.7% in the first quarter. Valued Wealth Advisors LLC now owns 248 shares of the semiconductor manufacturer’s stock worth $29,000 after buying an additional 173 shares in the last quarter. Richard W. Paul & Associates LLC increased its position in Micron Technology by 128.6% in the second quarter. Richard W. Paul & Associates LLC now owns 256 shares of the semiconductor manufacturer’s stock worth $34,000 after buying an additional 144 shares in the last quarter. Finally, LRI Investments LLC increased its position in Micron Technology by 57.2% in the second quarter. LRI Investments LLC now owns 272 shares of the semiconductor manufacturer’s stock worth $36,000 after buying an additional 99 shares in the last quarter. Institutional investors own 80.84% of the company’s stock.
Micron Technology Stock Up 0.4 %
NASDAQ:MU traded up $0.43 during mid-day trading on Friday, hitting $102.25. The stock had a trading volume of 21,945,805 shares, compared to its average volume of 22,362,682. The stock has a 50-day simple moving average of $96.66 and a two-hundred day simple moving average of $115.10. The company has a market capitalization of $113.38 billion, a PE ratio of -72.01, a PEG ratio of 0.20 and a beta of 1.18. Micron Technology, Inc. has a twelve month low of $63.88 and a twelve month high of $157.54. The company has a current ratio of 3.41, a quick ratio of 2.16 and a debt-to-equity ratio of 0.29.
Micron Technology (NASDAQ:MU – Get Free Report) last issued its earnings results on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 earnings per share for the quarter, beating the consensus estimate of $0.97 by $0.21. The firm had revenue of $7.75 billion for the quarter, compared to analysts’ expectations of $7.65 billion. Micron Technology had a negative net margin of 7.20% and a negative return on equity of 4.01%. The firm’s revenue was up 93.3% compared to the same quarter last year. During the same quarter last year, the company earned ($1.21) earnings per share. On average, equities research analysts anticipate that Micron Technology, Inc. will post 0.61 EPS for the current year.
Micron Technology Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 23rd. Investors of record on Monday, October 7th will be given a $0.115 dividend. The ex-dividend date of this dividend is Monday, October 7th. This represents a $0.46 annualized dividend and a yield of 0.45%. Micron Technology’s dividend payout ratio (DPR) is -32.39%.
Analyst Upgrades and Downgrades
A number of research firms have recently weighed in on MU. Needham & Company LLC reaffirmed a “buy” rating and issued a $140.00 price objective on shares of Micron Technology in a research note on Thursday, September 26th. JPMorgan Chase & Co. increased their price target on Micron Technology from $130.00 to $180.00 and gave the stock an “overweight” rating in a report on Thursday, June 27th. Wells Fargo & Company reduced their price objective on Micron Technology from $190.00 to $175.00 and set an “overweight” rating on the stock in a report on Wednesday, September 18th. Wedbush restated an “outperform” rating and set a $140.00 price objective on shares of Micron Technology in a report on Thursday, September 26th. Finally, The Goldman Sachs Group boosted their target price on shares of Micron Technology from $138.00 to $158.00 and gave the stock a “buy” rating in a report on Thursday, June 27th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-five have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $143.23.
Insider Buying and Selling
In other news, EVP April S. Arnzen sold 4,890 shares of the stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $113.00, for a total transaction of $552,570.00. Following the completion of the sale, the executive vice president now owns 135,830 shares in the company, valued at approximately $15,348,790. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.32% of the stock is owned by company 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.