Bridgewater Associates LP Purchases New Holdings in Micron Technology, Inc. (NASDAQ:MU)

Bridgewater Associates LP acquired a new position in shares of Micron Technology, Inc. (NASDAQ:MU) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 983,685 shares of the semiconductor manufacturer’s stock, valued at approximately $102,018,000.

Several other large investors have also recently bought and sold shares of the company. Advisors Asset Management Inc. grew its position in shares of Micron Technology by 513.5% during the 1st quarter. Advisors Asset Management Inc. now owns 5,902 shares of the semiconductor manufacturer’s stock worth $696,000 after buying an additional 4,940 shares during the period. B. Riley Wealth Advisors Inc. grew its holdings in Micron Technology by 18.6% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 26,964 shares of the semiconductor manufacturer’s stock worth $3,179,000 after acquiring an additional 4,230 shares during the period. Tidal Investments LLC raised its position in shares of Micron Technology by 50.8% during the 1st quarter. Tidal Investments LLC now owns 66,971 shares of the semiconductor manufacturer’s stock valued at $7,900,000 after acquiring an additional 22,572 shares during the last quarter. Comerica Bank lifted its stake in shares of Micron Technology by 21.0% in the 1st quarter. Comerica Bank now owns 258,879 shares of the semiconductor manufacturer’s stock valued at $30,519,000 after purchasing an additional 44,853 shares during the period. Finally, Plato Investment Management Ltd boosted its position in shares of Micron Technology by 1,728.9% in the 1st quarter. Plato Investment Management Ltd now owns 13,095 shares of the semiconductor manufacturer’s stock worth $1,544,000 after purchasing an additional 12,379 shares during the last quarter. Institutional investors and hedge funds own 80.84% of the company’s stock.

Insider Buying and Selling at Micron Technology

In other news, EVP April S. Arnzen sold 4,890 shares of the firm’s 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 trade represents a 3.47 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.32% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Bank of America upped their price objective on Micron Technology from $110.00 to $125.00 and gave the company a “buy” rating in a report on Thursday, September 26th. Rosenblatt Securities lifted their price objective on shares of Micron Technology from $225.00 to $250.00 and gave the stock a “buy” rating in a research note on Thursday, September 26th. Cantor Fitzgerald restated an “overweight” rating and set a $150.00 price objective on shares of Micron Technology in a report on Tuesday, October 1st. Raymond James increased their target price on shares of Micron Technology from $125.00 to $140.00 and gave the stock an “outperform” rating in a report on Thursday, September 26th. Finally, KeyCorp decreased their price target on shares of Micron Technology from $145.00 to $135.00 and set an “overweight” rating for the company in a report on Tuesday, October 8th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-six have given a buy rating to the company’s stock. According to data from MarketBeat.com, Micron Technology currently has an average rating of “Moderate Buy” and a consensus price target of $143.04.

Micron Technology Trading Down 2.6 %

Shares of Micron Technology stock opened at $101.80 on Wednesday. Micron Technology, Inc. has a 12-month low of $72.93 and a 12-month high of $157.54. The company has a quick ratio of 1.68, a current ratio of 2.64 and a debt-to-equity ratio of 0.29. The business’s 50 day moving average is $103.07 and its 200-day moving average is $111.90. The stock has a market cap of $112.87 billion, a P/E ratio of 149.71 and a beta of 1.18.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings results on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 EPS for the quarter, beating analysts’ consensus estimates of $0.97 by $0.21. The firm had revenue of $7.75 billion during 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 for the quarter was up 93.3% compared to the same quarter last year. During the same quarter last year, the company posted ($1.21) earnings per share. Equities research analysts predict that Micron Technology, Inc. will post 8.31 earnings per share for the current fiscal year.

Micron Technology Dividend Announcement

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 dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a yield of 0.45%. The ex-dividend date of this dividend was Monday, October 7th. Micron Technology’s dividend payout ratio (DPR) is presently 67.65%.

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.