Mizuho Securities Co. Ltd. Boosts Holdings in Micron Technology, Inc. (NASDAQ:MU)

Mizuho Securities Co. Ltd. raised its stake in shares of Micron Technology, Inc. (NASDAQ:MU) by 922.6% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 33,950 shares of the semiconductor manufacturer’s stock after acquiring an additional 30,630 shares during the quarter. Micron Technology accounts for 10.4% of Mizuho Securities Co. Ltd.’s holdings, making the stock its 2nd largest position. Mizuho Securities Co. Ltd.’s holdings in Micron Technology were worth $4,465,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. lifted 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 worth $11,396,024,000 after buying an additional 1,681,815 shares during the period. Capital World Investors grew its holdings in shares of Micron Technology by 6.6% during the first quarter. Capital World Investors now owns 22,748,381 shares of the semiconductor manufacturer’s stock worth $2,681,807,000 after purchasing an additional 1,400,154 shares during the last quarter. Sanders Capital LLC increased its position in Micron Technology by 2.3% in the 4th quarter. Sanders Capital LLC now owns 22,583,348 shares of the semiconductor manufacturer’s stock valued at $1,927,263,000 after acquiring an additional 503,923 shares in the last quarter. Capital International Investors grew its stake in shares of Micron Technology by 15.1% during the first 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 last quarter. Finally, Price T Rowe Associates Inc. MD increased its holdings in shares of Micron Technology by 22.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 18,243,633 shares of the semiconductor manufacturer’s stock valued at $2,150,743,000 after purchasing an additional 3,315,988 shares in the last quarter. Institutional investors own 80.84% of the company’s stock.

Micron Technology Stock Up 0.7 %

MU stock traded up $0.67 during midday trading on Friday, hitting $96.24. The company’s stock had a trading volume of 18,819,367 shares, compared to its average volume of 23,260,470. The company has a debt-to-equity ratio of 0.29, a current ratio of 3.41 and a quick ratio of 2.16. Micron Technology, Inc. has a twelve month low of $63.83 and a twelve month high of $157.54. The company’s fifty day moving average price is $113.45 and its 200 day moving average price is $114.47. The stock has a market capitalization of $106.71 billion, a P/E ratio of -67.77 and a beta of 1.18.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings data on Wednesday, June 26th. The semiconductor manufacturer reported $0.62 EPS for the quarter, beating analysts’ consensus estimates of $0.48 by $0.14. Micron Technology had a negative net margin of 7.20% and a negative return on equity of 4.01%. The company had revenue of $6.81 billion during the quarter, compared to the consensus estimate of $6.67 billion. During the same quarter last year, the firm posted ($1.57) EPS. The company’s quarterly revenue was up 81.5% on a year-over-year basis. As a group, equities research analysts predict that Micron Technology, Inc. will post 0.58 EPS for the current year.

Micron Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 23rd. Stockholders of record on Monday, July 8th were given a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.48%. The ex-dividend date was Monday, July 8th. Micron Technology’s dividend payout ratio (DPR) is presently -32.39%.

Wall Street Analyst Weigh In

A number of brokerages have commented on MU. JPMorgan Chase & Co. increased their price objective on Micron Technology from $130.00 to $180.00 and gave the company an “overweight” rating in a research report on Thursday, June 27th. KeyCorp cut their target price on shares of Micron Technology from $165.00 to $145.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 6th. Wells Fargo & Company lifted their price target on shares of Micron Technology from $135.00 to $190.00 and gave the stock an “overweight” rating in a research report on Thursday, June 20th. Barclays increased their price objective on shares of Micron Technology from $120.00 to $145.00 and gave the company an “overweight” rating in a report on Monday, May 13th. Finally, UBS Group lowered their target price on shares of Micron Technology from $155.00 to $153.00 and set a “buy” rating for the company in a report on Thursday, June 27th. Two research analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company’s stock. According to MarketBeat.com, Micron Technology currently has an average rating of “Moderate Buy” and a consensus target price of $157.12.

Insider Activity

In related news, CEO Sanjay Mehrotra sold 7,000 shares of Micron Technology stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $134.57, for a total transaction of $941,990.00. Following the completion of the sale, the chief executive officer now owns 719,049 shares of the company’s stock, valued at approximately $96,762,423.93. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of the business’s stock in a transaction dated Thursday, June 27th. The shares were sold at an average price of $135.86, for a total value of $664,355.40. Following the completion of the sale, the executive vice president now owns 142,321 shares of the company’s stock, valued at approximately $19,335,731.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Sanjay Mehrotra sold 7,000 shares of the business’s stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $134.57, for a total transaction of $941,990.00. Following the completion of the sale, the chief executive officer now directly owns 719,049 shares of the company’s stock, valued at approximately $96,762,423.93. The disclosure for this sale can be found here. Insiders sold a total of 53,174 shares of company stock valued at $7,710,093 in the last quarter. Company insiders own 0.32% of the company’s stock.

Micron Technology 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.