Charles Schwab Investment Management Inc. grew its stake in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 1.0% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 6,721,126 shares of the semiconductor manufacturer's stock after buying an additional 65,591 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.61% of Micron Technology worth $697,048,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Primecap Management Co. CA raised its position in shares of Micron Technology by 0.6% during the 3rd quarter. Primecap Management Co. CA now owns 37,631,860 shares of the semiconductor manufacturer's stock worth $3,902,800,000 after acquiring an additional 206,499 shares in the last quarter. Price T Rowe Associates Inc. MD raised 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 worth $2,150,743,000 after purchasing an additional 3,315,988 shares in the last quarter. Van ECK Associates Corp lifted its position in shares of Micron Technology by 30.6% during the 3rd quarter. Van ECK Associates Corp now owns 10,564,198 shares of the semiconductor manufacturer's stock worth $1,109,769,000 after buying an additional 2,477,985 shares during the last quarter. Boston Partners boosted its holdings in shares of Micron Technology by 1.4% in the 1st quarter. Boston Partners now owns 4,536,283 shares of the semiconductor manufacturer's stock valued at $534,189,000 after buying an additional 61,127 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. grew its position in shares of Micron Technology by 7.4% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 4,276,245 shares of the semiconductor manufacturer's stock valued at $443,489,000 after buying an additional 295,452 shares during the last quarter. 80.84% of the stock is owned by institutional investors and hedge funds.
A number of research analysts recently issued reports on the company. Cantor Fitzgerald restated an "overweight" rating and set a $150.00 price target on shares of Micron Technology in a research note on Tuesday, October 1st. Morgan Stanley lifted their target price on shares of Micron Technology from $100.00 to $114.00 and gave the company an "equal weight" rating in a report on Thursday, September 26th. Wedbush reiterated an "outperform" rating and set a $140.00 price target on shares of Micron Technology in a research note on Thursday, September 26th. Citigroup lowered their price objective on shares of Micron Technology from $175.00 to $150.00 and set a "buy" rating on the stock in a research report on Tuesday, September 17th. Finally, Needham & Company LLC reiterated a "buy" rating and set a $140.00 target price on shares of Micron Technology in a research note on Thursday, September 26th. One analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-six have given a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $143.04.
Get Our Latest Report on MU
In other news, EVP April S. Arnzen sold 4,890 shares of the stock in a transaction on Thursday, September 26th. The stock was 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 approximately $15,348,790. This represents a 3.47 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.32% of the stock is owned by company insiders.
Micron Technology stock opened at $102.43 on Friday. The stock has a market capitalization of $113.57 billion, a PE ratio of 150.63 and a beta of 1.18. Micron Technology, Inc. has a twelve month low of $72.93 and a twelve month high of $157.54. The company has a 50 day moving average of $102.23 and a 200-day moving average of $112.35. The company has a quick ratio of 1.68, a current ratio of 2.64 and a debt-to-equity ratio of 0.29.
Micron Technology (NASDAQ:MU - Get Free Report) last announced its quarterly earnings data on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 EPS for the quarter, topping 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%. The firm's revenue for the quarter was up 93.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($1.21) earnings per share. On average, equities research analysts anticipate that Micron Technology, Inc. will post 8.31 EPS for the current fiscal year.
The business 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. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.45%. The ex-dividend date of this dividend was Monday, October 7th. Micron Technology's dividend payout ratio is presently 67.65%.
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.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected].
Before you consider Micron Technology, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Micron Technology wasn't on the list.
While Micron Technology currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.