Micron Technology, Inc. (NASDAQ:MU) Shares Purchased by Parnassus Investments LLC

Parnassus Investments LLC raised its holdings in Micron Technology, Inc. (NASDAQ:MU) by 0.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,057,646 shares of the semiconductor manufacturer’s stock after acquiring an additional 380 shares during the period. Parnassus Investments LLC’s holdings in Micron Technology were worth $89,011,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of the business. Swedbank AB boosted its position in shares of Micron Technology by 30.4% during the 3rd quarter. Swedbank AB now owns 3,455,819 shares of the semiconductor manufacturer’s stock valued at $358,403,000 after acquiring an additional 806,639 shares during the last quarter. Apollon Wealth Management LLC raised its stake in Micron Technology by 8.8% during the third quarter. Apollon Wealth Management LLC now owns 24,445 shares of the semiconductor manufacturer’s stock worth $2,535,000 after purchasing an additional 1,978 shares during the period. Harbour Investments Inc. boosted its holdings in Micron Technology by 14.1% in the 3rd quarter. Harbour Investments Inc. now owns 13,969 shares of the semiconductor manufacturer’s stock valued at $1,449,000 after purchasing an additional 1,725 shares during the last quarter. Aptus Capital Advisors LLC grew its stake in shares of Micron Technology by 2.5% in the 3rd quarter. Aptus Capital Advisors LLC now owns 8,524 shares of the semiconductor manufacturer’s stock valued at $884,000 after buying an additional 204 shares during the period. Finally, Haverford Trust Co increased its holdings in shares of Micron Technology by 6.0% during the 3rd quarter. Haverford Trust Co now owns 2,439 shares of the semiconductor manufacturer’s stock worth $253,000 after buying an additional 138 shares during the last quarter. 80.84% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. KGI Securities upgraded Micron Technology to a “strong-buy” rating in a report on Friday, February 21st. UBS Group decreased their price target on Micron Technology from $135.00 to $125.00 and set a “buy” rating on the stock in a research note on Thursday, December 19th. Robert W. Baird cut their price objective on Micron Technology from $150.00 to $130.00 and set an “outperform” rating for the company in a research report on Thursday, December 19th. Cantor Fitzgerald decreased their target price on shares of Micron Technology from $150.00 to $130.00 and set an “overweight” rating on the stock in a research report on Thursday, December 19th. Finally, Needham & Company LLC dropped their price target on shares of Micron Technology from $140.00 to $120.00 and set a “buy” rating for the company in a research report on Thursday, December 19th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Micron Technology has an average rating of “Moderate Buy” and an average price target of $134.56.

Insider Activity

In other news, Director Mary Pat Mccarthy sold 2,404 shares of Micron Technology stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $92.93, for a total transaction of $223,403.72. Following the sale, the director now owns 27,358 shares in the company, valued at approximately $2,542,378.94. The trade was a 8.08 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP April S. Arnzen sold 4,890 shares of the business’s stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $85.21, for a total value of $416,676.90. Following the completion of the sale, the executive vice president now directly owns 181,223 shares of the company’s stock, valued at $15,442,011.83. The trade was a 2.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.30% of the company’s stock.

Micron Technology Stock Performance

Shares of Micron Technology stock opened at $94.88 on Friday. The business has a 50-day simple moving average of $96.50 and a 200-day simple moving average of $98.04. The company has a market cap of $105.71 billion, a PE ratio of 27.34 and a beta of 1.23. Micron Technology, Inc. has a one year low of $83.54 and a one year high of $157.54. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.75 and a current ratio of 2.72.

Micron Technology (NASDAQ:MU) last released its quarterly earnings data on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.60 by $0.19. The business had revenue of $8.71 billion during the quarter, compared to analysts’ expectations of $8.71 billion. Micron Technology had a net margin of 13.34% and a return on equity of 8.32%. The company’s revenue for the quarter was up 84.3% on a year-over-year basis. During the same period in the previous year, the company earned ($0.95) EPS. On average, equities research analysts forecast that Micron Technology, Inc. will post 6.08 EPS for the current fiscal year.

Micron Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Monday, December 30th were given a dividend of $0.115 per share. The ex-dividend date was Monday, December 30th. This represents a $0.46 annualized dividend and a dividend yield of 0.48%. Micron Technology’s dividend payout ratio is currently 13.26%.

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.