Micron Technology, Inc. (NASDAQ:MU) Shares Purchased by Keynote Financial Services LLC

Keynote Financial Services LLC raised its stake in Micron Technology, Inc. (NASDAQ:MU) by 4.2% in the fourth quarter, HoldingsChannel.com reports. The fund owned 6,876 shares of the semiconductor manufacturer’s stock after purchasing an additional 280 shares during the quarter. Keynote Financial Services LLC’s holdings in Micron Technology were worth $579,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Van ECK Associates Corp lifted its stake in shares of Micron Technology by 30.6% during the 3rd quarter. Van ECK Associates Corp now owns 10,564,198 shares of the semiconductor manufacturer’s stock worth $1,109,769,000 after purchasing an additional 2,477,985 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Micron Technology by 21.7% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 11,326,224 shares of the semiconductor manufacturer’s stock valued at $1,174,643,000 after purchasing an additional 2,022,180 shares during the last quarter. State Street Corp lifted its position in Micron Technology by 3.1% during the third quarter. State Street Corp now owns 48,226,710 shares of the semiconductor manufacturer’s stock worth $5,001,592,000 after buying an additional 1,434,568 shares during the period. Worldquant Millennium Advisors LLC boosted its stake in Micron Technology by 254.4% in the 3rd quarter. Worldquant Millennium Advisors LLC now owns 1,859,416 shares of the semiconductor manufacturer’s stock worth $192,840,000 after buying an additional 1,334,690 shares during the last quarter. Finally, Bridgewater Associates LP purchased a new stake in Micron Technology in the 3rd quarter valued at about $102,018,000. 80.84% of the stock is currently owned by hedge funds and other institutional investors.

Micron Technology Stock Performance

Shares of MU stock opened at $93.63 on Friday. The company’s fifty day moving average price is $95.75 and its two-hundred day moving average price is $98.88. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.72 and a quick ratio of 1.75. The firm has a market capitalization of $104.32 billion, a P/E ratio of 26.98 and a beta of 1.18. Micron Technology, Inc. has a 12 month low of $83.54 and a 12 month high of $157.54.

Micron Technology (NASDAQ:MU) last issued its quarterly earnings results on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 EPS for the quarter, beating analysts’ consensus estimates of $1.60 by $0.19. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. The firm had revenue of $8.71 billion during the quarter, compared to the consensus estimate of $8.71 billion. During the same quarter in the prior year, the business posted ($0.95) earnings per share. Micron Technology’s revenue for the quarter was up 84.3% on a year-over-year basis. On average, research analysts anticipate that Micron Technology, Inc. will post 6.08 earnings per share for the current fiscal year.

Micron Technology Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Monday, December 30th were given a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.49%. The ex-dividend date was Monday, December 30th. Micron Technology’s payout ratio is currently 13.26%.

Wall Street Analysts Forecast Growth

MU has been the topic of several recent analyst reports. Rosenblatt Securities reiterated a “buy” rating and set a $250.00 price objective on shares of Micron Technology in a report on Wednesday, December 18th. Barclays cut their price target on shares of Micron Technology from $145.00 to $110.00 and set an “overweight” rating on the stock in a research note on Friday, December 20th. JPMorgan Chase & Co. lowered their price objective on shares of Micron Technology from $180.00 to $145.00 and set an “overweight” rating for the company in a research note on Thursday, December 19th. Cantor Fitzgerald cut their target price on Micron Technology from $150.00 to $130.00 and set an “overweight” rating on the stock in a research report on Thursday, December 19th. Finally, Stifel Nicolaus lowered their price target on Micron Technology from $135.00 to $130.00 and set a “buy” rating for the company in a research report on Thursday, December 19th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $134.96.

Insider Buying and Selling

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of the company’s stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $85.21, for a total transaction of $416,676.90. Following the sale, the executive vice president now owns 181,223 shares in the company, valued at $15,442,011.83. This represents a 2.63 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders own 0.30% of the company’s stock.

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.