Mather Group LLC. Increases Stock Position in Micron Technology, Inc. (NASDAQ:MU)

Mather Group LLC. raised its holdings in shares of Micron Technology, Inc. (NASDAQ:MU) by 7.9% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 8,045 shares of the semiconductor manufacturer’s stock after purchasing an additional 592 shares during the period. Mather Group LLC.’s holdings in Micron Technology were worth $1,058,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Norges Bank bought a new stake in Micron Technology during the fourth quarter valued at approximately $769,372,000. Price T Rowe Associates Inc. MD grew its holdings in Micron Technology by 22.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 18,243,633 shares of the semiconductor manufacturer’s stock valued at $2,150,743,000 after purchasing an additional 3,315,988 shares during the period. California Public Employees Retirement System raised its stake in shares of Micron Technology by 125.0% in the fourth quarter. California Public Employees Retirement System now owns 4,541,662 shares of the semiconductor manufacturer’s stock worth $387,585,000 after buying an additional 2,523,267 shares during the period. Capital International Investors grew its stake in shares of Micron Technology by 15.1% during the 1st quarter. Capital International Investors now owns 18,303,506 shares of the semiconductor manufacturer’s stock valued at $2,157,800,000 after acquiring an additional 2,397,885 shares during the period. Finally, 1832 Asset Management L.P. increased its holdings in Micron Technology by 301,500.0% in the 1st quarter. 1832 Asset Management L.P. now owns 1,809,600 shares of the semiconductor manufacturer’s stock worth $213,334,000 after acquiring an additional 1,809,000 shares in the last quarter. 80.84% of the stock is owned by hedge funds and other institutional investors.

Micron Technology Stock Up 2.5 %

NASDAQ:MU traded up $2.26 during trading hours on Wednesday, reaching $91.26. The company’s stock had a trading volume of 12,381,705 shares, compared to its average volume of 21,280,027. The stock has a 50 day moving average price of $126.87 and a two-hundred day moving average price of $112.99. The company has a debt-to-equity ratio of 0.29, a quick ratio of 2.16 and a current ratio of 3.41. The company has a market capitalization of $101.19 billion, a P/E ratio of -64.40 and a beta of 1.18. Micron Technology, Inc. has a 12 month low of $61.75 and a 12 month high of $157.54.

Micron Technology (NASDAQ:MU) last issued its quarterly earnings data on Wednesday, June 26th. The semiconductor manufacturer reported $0.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.48 by $0.14. The firm had revenue of $6.81 billion for the quarter, compared to the consensus estimate of $6.67 billion. Micron Technology had a negative net margin of 7.20% and a negative return on equity of 4.01%. The company’s quarterly revenue was up 81.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($1.57) EPS. Equities analysts predict that Micron Technology, Inc. will post 0.58 EPS for the current fiscal year.

Micron Technology Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 23rd. Investors of record on Monday, July 8th were issued a $0.115 dividend. The ex-dividend date was Monday, July 8th. This represents a $0.46 annualized dividend and a yield of 0.50%. Micron Technology’s dividend payout ratio (DPR) is presently -32.39%.

Wall Street Analyst Weigh In

MU has been the topic of a number of recent analyst reports. Piper Sandler raised their price target on Micron Technology from $130.00 to $150.00 and gave the company an “overweight” rating in a report on Thursday, June 27th. Barclays upped their price target on Micron Technology from $120.00 to $145.00 and gave the stock an “overweight” rating in a research note on Monday, May 13th. Stifel Nicolaus lifted their price objective on shares of Micron Technology from $140.00 to $165.00 and gave the company a “buy” rating in a research report on Tuesday, June 18th. Mizuho upped their target price on shares of Micron Technology from $150.00 to $155.00 and gave the stock a “buy” rating in a research report on Friday, May 31st. Finally, Robert W. Baird raised their target price on shares of Micron Technology from $150.00 to $172.00 and gave the company an “outperform” rating in a research note on Monday, June 24th. Two equities research analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $157.92.

Insiders Place Their Bets

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of the company’s stock in a transaction on Thursday, June 27th. The shares were sold at an average price of $135.86, for a total value of $664,355.40. Following the sale, the executive vice president now directly owns 142,321 shares of the company’s stock, valued at $19,335,731.06. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CEO Sanjay Mehrotra sold 34,284 shares of the business’s stock in a transaction on Tuesday, June 18th. The shares were sold at an average price of $152.28, for a total value of $5,220,767.52. Following the completion of the transaction, the chief executive officer now directly owns 719,049 shares in the company, valued at approximately $109,496,781.72. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP April S. Arnzen sold 4,890 shares of the firm’s stock in a transaction on Thursday, June 27th. The shares were sold at an average price of $135.86, for a total transaction of $664,355.40. Following the sale, the executive vice president now owns 142,321 shares in the company, valued at approximately $19,335,731.06. The disclosure for this sale can be found here. In the last ninety days, insiders sold 114,413 shares of company stock valued at $15,288,739. 0.32% of the stock is owned by insiders.

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.