Micron Technology, Inc. (NASDAQ:MU) Shares Acquired by NewEdge Advisors LLC

NewEdge Advisors LLC grew its holdings in Micron Technology, Inc. (NASDAQ:MU) by 79.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 95,088 shares of the semiconductor manufacturer’s stock after acquiring an additional 42,080 shares during the period. NewEdge Advisors LLC’s holdings in Micron Technology were worth $12,507,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of MU. Price T Rowe Associates Inc. MD grew its stake in shares of Micron Technology by 22.2% in 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 acquiring an additional 3,315,988 shares in the last quarter. Capital International Investors grew its stake in shares of Micron Technology by 15.1% during the first quarter. Capital International Investors now owns 18,303,506 shares of the semiconductor manufacturer’s stock worth $2,157,800,000 after purchasing an additional 2,397,885 shares in the last quarter. Swedbank AB grew its stake in shares of Micron Technology by 473.8% during the second quarter. Swedbank AB now owns 2,649,180 shares of the semiconductor manufacturer’s stock worth $348,447,000 after purchasing an additional 2,187,460 shares in the last quarter. 1832 Asset Management L.P. grew its stake in shares of Micron Technology by 301,500.0% during the first quarter. 1832 Asset Management L.P. now owns 1,809,600 shares of the semiconductor manufacturer’s stock worth $213,334,000 after purchasing an additional 1,809,000 shares in the last quarter. Finally, Van ECK Associates Corp grew its stake in shares of Micron Technology by 28.9% during the first quarter. Van ECK Associates Corp now owns 7,566,572 shares of the semiconductor manufacturer’s stock worth $892,023,000 after purchasing an additional 1,695,876 shares in the last quarter. Institutional investors and hedge funds own 80.84% of the company’s stock.

Micron Technology Trading Down 2.2 %

Shares of Micron Technology stock opened at $107.50 on Monday. Micron Technology, Inc. has a 52-week low of $63.83 and a 52-week high of $157.54. The company has a quick ratio of 2.16, a current ratio of 3.41 and a debt-to-equity ratio of 0.29. The company’s 50-day simple moving average is $97.63 and its 200-day simple moving average is $114.96. The firm has a market cap of $119.20 billion, a price-to-earnings ratio of -75.70, a price-to-earnings-growth ratio of 0.20 and a beta of 1.17.

Micron Technology (NASDAQ:MU) last issued its quarterly earnings results on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.97 by $0.21. Micron Technology had a negative net margin of 7.20% and a negative return on equity of 4.01%. The business had revenue of $7.75 billion for the quarter, compared to analyst estimates of $7.65 billion. During the same period in the previous year, the business posted ($1.21) earnings per share. The business’s revenue was up 93.3% compared to the same quarter last year. As a group, equities research analysts anticipate that Micron Technology, Inc. will post 0.61 earnings per share for the current year.

Micron Technology Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 23rd. Shareholders of record on Monday, October 7th will be given a dividend of $0.115 per share. The ex-dividend date of this dividend is Monday, October 7th. This represents a $0.46 annualized dividend and a yield of 0.43%. Micron Technology’s payout ratio is currently -32.39%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on MU. KeyCorp lowered their target price on shares of Micron Technology from $165.00 to $145.00 and set an “overweight” rating for the company in a research note on Tuesday, August 6th. Stifel Nicolaus lowered their target price on shares of Micron Technology from $165.00 to $135.00 and set a “buy” rating for the company in a research note on Thursday, September 19th. The Goldman Sachs Group boosted their price target on shares of Micron Technology from $138.00 to $158.00 and gave the company a “buy” rating in a research report on Thursday, June 27th. BNP Paribas cut shares of Micron Technology from an “outperform” rating to an “underperform” rating and reduced their price target for the company from $140.00 to $67.00 in a research report on Thursday, September 12th. Finally, Cantor Fitzgerald boosted their price target on shares of Micron Technology from $150.00 to $180.00 and gave the company an “overweight” rating in a research report on Monday, June 17th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-five have assigned a buy rating to the company. According to MarketBeat, Micron Technology currently has an average rating of “Moderate Buy” and a consensus target price of $144.38.

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.