Micron Technology, Inc. (NASDAQ:MU) Shares Acquired by National Pension Service

National Pension Service increased its position in shares of Micron Technology, Inc. (NASDAQ:MU) by 2.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,877,207 shares of the semiconductor manufacturer’s stock after purchasing an additional 42,206 shares during the quarter. National Pension Service owned 0.17% of Micron Technology worth $160,201,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the company. FMR LLC grew its stake in shares of Micron Technology by 47.9% during the 3rd quarter. FMR LLC now owns 21,899,184 shares of the semiconductor manufacturer’s stock worth $1,489,801,000 after purchasing an additional 7,089,790 shares during the period. Wellington Management Group LLP increased its holdings in Micron Technology by 43.4% in the third quarter. Wellington Management Group LLP now owns 17,383,628 shares of the semiconductor manufacturer’s stock valued at $1,182,608,000 after buying an additional 5,257,201 shares in the last quarter. Morgan Stanley raised its position in shares of Micron Technology by 19.7% in the third quarter. Morgan Stanley now owns 17,303,400 shares of the semiconductor manufacturer’s stock worth $1,177,151,000 after acquiring an additional 2,852,688 shares during the period. California Public Employees Retirement System boosted its stake in shares of Micron Technology by 125.0% during the 4th quarter. California Public Employees Retirement System now owns 4,541,662 shares of the semiconductor manufacturer’s stock worth $387,585,000 after acquiring an additional 2,523,267 shares in the last quarter. Finally, Phoenix Holdings Ltd. grew its position in shares of Micron Technology by 8,336.6% during the 3rd quarter. Phoenix Holdings Ltd. now owns 1,732,231 shares of the semiconductor manufacturer’s stock valued at $117,762,000 after acquiring an additional 1,753,262 shares during the period. Hedge funds and other institutional investors own 80.84% of the company’s stock.

Insider Buying and Selling

In related news, EVP Manish H. Bhatia sold 53,317 shares of Micron Technology stock in a transaction on Monday, May 6th. The stock was sold at an average price of $119.18, for a total transaction of $6,354,320.06. Following the completion of the transaction, the executive vice president now directly owns 319,119 shares of the company’s stock, valued at $38,032,602.42. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Micron Technology news, CEO Sanjay Mehrotra sold 45,000 shares of the stock in a transaction on Thursday, April 4th. The stock was sold at an average price of $130.00, for a total transaction of $5,850,000.00. Following the sale, the chief executive officer now owns 728,557 shares in the company, valued at approximately $94,712,410. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Manish H. Bhatia sold 53,317 shares of the business’s stock in a transaction on Monday, May 6th. The stock was sold at an average price of $119.18, for a total value of $6,354,320.06. Following the completion of the transaction, the executive vice president now directly owns 319,119 shares of the company’s stock, valued at $38,032,602.42. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 370,207 shares of company stock valued at $41,839,707. Corporate insiders own 0.32% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on MU shares. UBS Group upped their price target on shares of Micron Technology from $95.00 to $120.00 and gave the stock a “buy” rating in a research report on Tuesday, March 19th. Wedbush increased their target price on Micron Technology from $103.00 to $130.00 and gave the company an “outperform” rating in a report on Thursday, March 21st. Citigroup reaffirmed a “buy” rating and issued a $150.00 price target on shares of Micron Technology in a research note on Thursday, April 4th. Piper Sandler increased their price objective on Micron Technology from $95.00 to $130.00 and gave the company an “overweight” rating in a research note on Thursday, March 21st. Finally, Morgan Stanley raised their price objective on Micron Technology from $78.00 to $98.00 and gave the company an “underweight” rating in a report on Thursday, March 21st. One investment analyst has rated the stock with a sell rating, one has given a hold rating and twenty-five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $123.60.

Micron Technology Stock Performance

NASDAQ:MU traded up $0.11 during trading hours on Wednesday, reaching $119.32. 10,840,362 shares of the company’s stock were exchanged, compared to its average volume of 20,094,646. The company has a quick ratio of 2.40, a current ratio of 3.74 and a debt-to-equity ratio of 0.30. The firm has a market capitalization of $131.73 billion, a price-to-earnings ratio of -34.59 and a beta of 1.27. Micron Technology, Inc. has a 1-year low of $59.55 and a 1-year high of $130.54. The company has a 50-day moving average of $110.11 and a 200 day moving average of $90.70.

Micron Technology (NASDAQ:MU) last released its earnings results on Wednesday, March 20th. The semiconductor manufacturer reported $0.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.69. Micron Technology had a negative return on equity of 8.98% and a negative net margin of 20.57%. The business had revenue of $5.82 billion for the quarter, compared to analyst estimates of $5.35 billion. During the same quarter in the previous year, the company posted ($2.03) earnings per share. The company’s revenue for the quarter was up 57.7% compared to the same quarter last year. Research analysts anticipate that Micron Technology, Inc. will post 0.24 EPS for the current year.

Micron Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 16th. Investors of record on Monday, April 1st were paid a $0.115 dividend. This represents a $0.46 annualized dividend and a dividend yield of 0.39%. The ex-dividend date was Thursday, March 28th. Micron Technology’s dividend payout ratio (DPR) is -13.33%.

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.