The Manufacturers Life Insurance Company Has $179.11 Million Holdings in Micron Technology, Inc. (NASDAQ:MU)

The Manufacturers Life Insurance Company lifted its position in Micron Technology, Inc. (NASDAQ:MU) by 2.8% during the third quarter, HoldingsChannel.com reports. The fund owned 1,726,755 shares of the semiconductor manufacturer’s stock after purchasing an additional 47,653 shares during the period. The Manufacturers Life Insurance Company’s holdings in Micron Technology were worth $179,113,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Mirabella Financial Services LLP raised its position in shares of Micron Technology by 1,807.0% in the 3rd quarter. Mirabella Financial Services LLP now owns 90,906 shares of the semiconductor manufacturer’s stock valued at $9,428,000 after acquiring an additional 86,139 shares during the period. Truvestments Capital LLC raised its position in shares of Micron Technology by 38.4% in the 3rd quarter. Truvestments Capital LLC now owns 4,549 shares of the semiconductor manufacturer’s stock valued at $472,000 after acquiring an additional 1,263 shares during the period. Independent Advisor Alliance raised its position in shares of Micron Technology by 9.9% in the 3rd quarter. Independent Advisor Alliance now owns 57,413 shares of the semiconductor manufacturer’s stock valued at $5,954,000 after acquiring an additional 5,180 shares during the period. Fisher Asset Management LLC raised its position in shares of Micron Technology by 6.5% in the 3rd quarter. Fisher Asset Management LLC now owns 50,470 shares of the semiconductor manufacturer’s stock valued at $5,234,000 after acquiring an additional 3,069 shares during the period. Finally, Daiwa Securities Group Inc. increased its stake in Micron Technology by 6.0% during the 3rd quarter. Daiwa Securities Group Inc. now owns 230,851 shares of the semiconductor manufacturer’s stock worth $23,941,000 after purchasing an additional 13,035 shares in the last quarter. 80.84% of the stock is currently owned by institutional investors and hedge funds.

Micron Technology Price Performance

NASDAQ:MU opened at $101.80 on Wednesday. The company has a market cap of $112.87 billion, a P/E ratio of 149.71 and a beta of 1.18. The firm’s fifty day moving average price is $103.07 and its two-hundred day moving average price is $111.90. Micron Technology, Inc. has a one year low of $72.93 and a one year high of $157.54. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.64 and a quick ratio of 1.68.

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 business had revenue of $7.75 billion for the quarter, compared to analyst estimates of $7.65 billion. Micron Technology had a net margin of 3.10% and a return on equity of 1.58%. Micron Technology’s quarterly revenue was up 93.3% on a year-over-year basis. During the same quarter in the prior year, the business earned ($1.21) EPS. Equities analysts expect that Micron Technology, Inc. will post 8.31 earnings per share for the current year.

Micron Technology Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 23rd. Stockholders of record on Monday, October 7th were paid a dividend of $0.115 per share. The ex-dividend date was Monday, October 7th. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.45%. Micron Technology’s dividend payout ratio (DPR) is currently 67.65%.

Insider Buying and Selling

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of the business’s stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $113.00, for a total value of $552,570.00. Following the completion of the sale, the executive vice president now owns 135,830 shares of the company’s stock, valued at $15,348,790. The trade was a 3.47 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.32% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

MU has been the subject of a number of research reports. Needham & Company LLC reissued a “buy” rating and set a $140.00 target price on shares of Micron Technology in a research note on Thursday, September 26th. TD Cowen increased their target price on Micron Technology from $115.00 to $135.00 and gave the stock a “buy” rating in a research note on Thursday, September 26th. Stifel Nicolaus lowered their target price on Micron Technology from $165.00 to $135.00 and set a “buy” rating for the company in a research note on Thursday, September 19th. Raymond James increased their target price on Micron Technology from $125.00 to $140.00 and gave the stock an “outperform” rating in a research note on Thursday, September 26th. Finally, KeyCorp lowered their target price on Micron Technology from $145.00 to $135.00 and set an “overweight” rating for the company in a research note on Tuesday, October 8th. One research 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. According to data from MarketBeat, Micron Technology currently has an average rating of “Moderate Buy” and an average target price of $143.04.

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.