IFM Investors Pty Ltd Has $23.07 Million Position in Micron Technology, Inc. (NASDAQ:MU)

IFM Investors Pty Ltd boosted its holdings in Micron Technology, Inc. (NASDAQ:MU) by 0.4% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 222,470 shares of the semiconductor manufacturer’s stock after buying an additional 904 shares during the period. IFM Investors Pty Ltd’s holdings in Micron Technology were worth $23,072,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of MU. DecisionPoint Financial LLC acquired a new stake in Micron Technology in the first quarter worth $25,000. Hobbs Group Advisors LLC acquired a new stake in Micron Technology in the second quarter worth $28,000. Valued Wealth Advisors LLC raised its holdings 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 purchasing an additional 173 shares during the period. Davis Capital Management bought a new stake in shares of Micron Technology during the third quarter worth $30,000. Finally, Richard W. Paul & Associates LLC increased its position in shares of Micron Technology by 128.6% during the second quarter. Richard W. Paul & Associates LLC now owns 256 shares of the semiconductor manufacturer’s stock worth $34,000 after acquiring an additional 144 shares in the last quarter. 80.84% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have recently issued reports on MU. Piper Sandler increased their price objective on shares of Micron Technology from $130.00 to $150.00 and gave the stock an “overweight” rating in a research report on Thursday, June 27th. BNP Paribas downgraded shares of Micron Technology from an “outperform” rating to an “underperform” rating and decreased their target price for the company from $140.00 to $67.00 in a research report on Thursday, September 12th. TD Cowen raised their target price on shares of Micron Technology from $115.00 to $135.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. Rosenblatt Securities raised their target price on shares of Micron Technology from $225.00 to $250.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. Finally, The Goldman Sachs Group raised their target price on shares of Micron Technology from $138.00 to $158.00 and gave the company a “buy” rating in a research 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. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $142.85.

Insiders Place Their Bets

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

Micron Technology Price Performance

MU stock traded up $1.29 during mid-day trading on Thursday, hitting $106.34. The stock had a trading volume of 6,419,883 shares, compared to its average volume of 22,096,162. The company has a current ratio of 2.64, a quick ratio of 1.68 and a debt-to-equity ratio of 0.29. Micron Technology, Inc. has a 52 week low of $63.88 and a 52 week high of $157.54. The firm has a market capitalization of $117.91 billion, a P/E ratio of -75.39 and a beta of 1.18. The firm has a fifty day simple moving average of $99.23 and a 200 day simple moving average of $114.10.

Micron Technology (NASDAQ:MU) last released its earnings results on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 EPS for the quarter, beating the consensus estimate of $0.97 by $0.21. Micron Technology had a net margin of 3.10% and a return on equity of 1.58%. The firm had revenue of $7.75 billion for the quarter, compared to analyst estimates of $7.65 billion. During the same period last year, the firm earned ($1.21) EPS. The business’s quarterly revenue was up 93.3% compared to the same quarter last year. As a group, research analysts forecast that Micron Technology, Inc. will post 8.31 EPS for the current year.

Micron Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 23rd. Shareholders of record on Monday, October 7th were issued a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a yield of 0.43%. The ex-dividend date was Monday, October 7th. Micron Technology’s payout ratio is -32.39%.

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.