Micron Technology, Inc. (NASDAQ:MU) Shares Sold by Mn Services Vermogensbeheer B.V.

by · The Cerbat Gem

Mn Services Vermogensbeheer B.V. lowered its position in shares of Micron Technology, Inc. (NASDAQ:MU – Free Report) by 2.4% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 425,900 shares of the semiconductor manufacturer’s stock after selling 10,500 shares during the period. Mn Services Vermogensbeheer B.V.’s holdings in Micron Technology were worth $44,170,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of Micron Technology by 1.8% during the 1st quarter. Vanguard Group Inc. now owns 96,666,590 shares of the semiconductor manufacturer’s stock valued at $11,396,024,000 after purchasing an additional 1,681,815 shares in the last quarter. Capital World Investors lifted its position in Micron Technology by 6.6% during the 1st quarter. Capital World Investors now owns 22,748,381 shares of the semiconductor manufacturer’s stock worth $2,681,807,000 after acquiring an additional 1,400,154 shares during the last quarter. Capital International Investors boosted its holdings in Micron Technology by 15.1% in the 1st quarter. Capital International Investors now owns 18,303,506 shares of the semiconductor manufacturer’s stock valued at $2,157,800,000 after purchasing an additional 2,397,885 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in shares of Micron Technology by 22.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 18,243,633 shares of the semiconductor manufacturer’s stock worth $2,150,743,000 after purchasing an additional 3,315,988 shares in the last quarter. Finally, Van ECK Associates Corp increased its stake in Micron Technology by 30.6% in the third quarter. Van ECK Associates Corp now owns 10,564,198 shares of the semiconductor manufacturer’s stock valued at $1,109,769,000 after acquiring an additional 2,477,985 shares during the period. Institutional investors and hedge funds own 80.84% of the company’s stock.

Insiders Place Their Bets

In other news, EVP April S. Arnzen sold 4,890 shares of the business’s stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $113.00, for a total transaction of $552,570.00. Following the completion of the transaction, the executive vice president now directly owns 135,830 shares of the company’s stock, valued at approximately $15,348,790. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.32% of the company’s stock.

Micron Technology Price Performance

MU stock traded up $3.49 during midday trading on Monday, reaching $103.22. The stock had a trading volume of 4,291,591 shares, compared to its average volume of 21,829,158. Micron Technology, Inc. has a 52-week low of $71.71 and a 52-week high of $157.54. The company has a current ratio of 2.64, a quick ratio of 1.68 and a debt-to-equity ratio of 0.29. The company’s fifty day simple moving average is $98.94 and its 200 day simple moving average is $113.18. The company has a market cap of $114.44 billion, a price-to-earnings ratio of 149.33 and a beta of 1.18.

Micron Technology (NASDAQ:MU – Get Free Report) last announced its quarterly 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 net margin of 3.10% and a return on equity of 1.58%. The company’s revenue was up 93.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($1.21) EPS. As a group, sell-side analysts predict that Micron Technology, Inc. will post 8.31 earnings per share for the current fiscal year.

Micron Technology Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 23rd. Shareholders of record on Monday, October 7th were given a $0.115 dividend. The ex-dividend date of this dividend was Monday, October 7th. This represents a $0.46 annualized dividend and a yield of 0.45%. Micron Technology’s dividend payout ratio is presently 67.65%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on MU shares. Cantor Fitzgerald reiterated an “overweight” rating and issued a $150.00 price objective on shares of Micron Technology in a report on Tuesday, October 1st. Morgan Stanley upped their target price on shares of Micron Technology from $100.00 to $114.00 and gave the company an “equal weight” rating in a report on Thursday, September 26th. Susquehanna lowered their target price on Micron Technology from $175.00 to $165.00 and set a “positive” rating on the stock in a research note on Thursday, September 26th. KeyCorp cut their price objective on shares of Micron Technology from $145.00 to $135.00 and set an “overweight” rating for the company in a research report on Tuesday, October 8th. Finally, Rosenblatt Securities upped their price objective on shares of Micron Technology from $225.00 to $250.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. One analyst has rated the stock with a sell rating, two have given a hold rating and twenty-six have given a buy rating to the company’s stock. According to MarketBeat.com, Micron Technology currently has an average rating of “Moderate Buy” and an average price target of $143.04.

Get Our Latest Research Report on Micron Technology

About Micron Technology

(Free Report)

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.

See Also

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