Mirae Asset Global Investments Co. Ltd. Boosts Stock Position in Micron Technology, Inc. (NASDAQ:MU)

Mirae Asset Global Investments Co. Ltd. raised its stake in Micron Technology, Inc. (NASDAQ:MU) by 7.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,454,460 shares of the semiconductor manufacturer’s stock after purchasing an additional 97,604 shares during the quarter. Micron Technology accounts for 0.7% of Mirae Asset Global Investments Co. Ltd.’s investment portfolio, making the stock its 20th biggest holding. Mirae Asset Global Investments Co. Ltd. owned about 0.13% of Micron Technology worth $154,749,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. Allworth Financial LP increased its stake in shares of Micron Technology by 14.7% during the third quarter. Allworth Financial LP now owns 6,784 shares of the semiconductor manufacturer’s stock worth $704,000 after acquiring an additional 872 shares during the period. Cromwell Holdings LLC boosted its holdings in Micron Technology by 5.9% in the 3rd quarter. Cromwell Holdings LLC now owns 3,519 shares of the semiconductor manufacturer’s stock valued at $365,000 after purchasing an additional 196 shares in the last quarter. Legacy Wealth Asset Management LLC increased its position in Micron Technology by 2.1% during the 3rd quarter. Legacy Wealth Asset Management LLC now owns 8,568 shares of the semiconductor manufacturer’s stock worth $889,000 after purchasing an additional 175 shares during the period. Massachusetts Wealth Management purchased a new position in shares of Micron Technology during the 3rd quarter worth approximately $929,000. Finally, Mediolanum International Funds Ltd lifted its holdings in shares of Micron Technology by 167.8% in the 3rd quarter. Mediolanum International Funds Ltd now owns 144,390 shares of the semiconductor manufacturer’s stock valued at $15,496,000 after buying an additional 90,482 shares during the period. Institutional investors and hedge funds own 80.84% of the company’s stock.

Micron Technology Price Performance

Shares of MU stock opened at $107.91 on Friday. The firm has a fifty day simple moving average of $99.23 and a 200-day simple moving average of $114.05. The company has a market capitalization of $119.66 billion, a PE ratio of -75.99 and a beta of 1.18. Micron Technology, Inc. has a twelve month low of $63.88 and a twelve month high of $157.54. 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 (NASDAQ:MU) last issued its quarterly earnings data on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 earnings per share for the quarter, beating analysts’ consensus estimates of $0.97 by $0.21. The firm had revenue of $7.75 billion during the quarter, compared to analyst estimates of $7.65 billion. Micron Technology had a return on equity of 1.58% and a net margin of 3.10%. Micron Technology’s quarterly revenue was up 93.3% on a year-over-year basis. During the same quarter last year, the firm earned ($1.21) EPS. Equities research analysts anticipate that Micron Technology, Inc. will post 8.31 earnings per share for the current fiscal year.

Micron Technology Announces Dividend

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

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on MU shares. Morgan Stanley increased their price objective on Micron Technology from $100.00 to $114.00 and gave the stock an “equal weight” rating in a research report on Thursday, September 26th. Wells Fargo & Company cut their price target on shares of Micron Technology from $190.00 to $175.00 and set an “overweight” rating for the company in a report on Wednesday, September 18th. Wedbush reissued an “outperform” rating and set a $140.00 price objective on shares of Micron Technology in a report on Thursday, September 26th. Raymond James increased their target price on shares of Micron Technology from $125.00 to $140.00 and gave the company an “outperform” rating in a report on Thursday, September 26th. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $150.00 price target on shares of Micron Technology in a research note on Tuesday, October 1st. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-five have issued a buy rating to the company’s stock. According to MarketBeat.com, Micron Technology has a consensus rating of “Moderate Buy” and a consensus price target of $142.85.

Insider Activity at Micron Technology

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of the firm’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 transaction, the executive vice president now owns 135,830 shares of the company’s stock, valued at $15,348,790. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.32% of the company’s stock.

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.