Achmea Investment Management B.V. Acquires Shares of 26,809 Micron Technology, Inc. (NASDAQ:MU)

Achmea Investment Management B.V. bought a new position in shares of Micron Technology, Inc. (NASDAQ:MU) in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor bought 26,809 shares of the semiconductor manufacturer’s stock, valued at approximately $3,526,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in MU. Avantax Advisory Services Inc. raised its position in shares of Micron Technology by 5.7% during the 4th quarter. Avantax Advisory Services Inc. now owns 25,192 shares of the semiconductor manufacturer’s stock worth $2,150,000 after purchasing an additional 1,362 shares during the last quarter. Janney Montgomery Scott LLC raised its holdings in shares of Micron Technology by 10.1% during the fourth quarter. Janney Montgomery Scott LLC now owns 101,073 shares of the semiconductor manufacturer’s stock valued at $8,626,000 after acquiring an additional 9,289 shares during the last quarter. Foundations Investment Advisors LLC lifted its position in shares of Micron Technology by 10.6% in the fourth quarter. Foundations Investment Advisors LLC now owns 5,109 shares of the semiconductor manufacturer’s stock valued at $437,000 after acquiring an additional 488 shares in the last quarter. Quadrant Capital Group LLC boosted its stake in shares of Micron Technology by 5.4% in the fourth quarter. Quadrant Capital Group LLC now owns 9,291 shares of the semiconductor manufacturer’s stock worth $793,000 after acquiring an additional 472 shares during the last quarter. Finally, Sound View Wealth Advisors Group LLC purchased a new stake in shares of Micron Technology during the fourth quarter worth approximately $229,000. Hedge funds and other institutional investors own 80.84% of the company’s stock.

Wall Street Analysts Forecast Growth

MU has been the topic of a number of research reports. UBS Group decreased their price objective on Micron Technology from $155.00 to $153.00 and set a “buy” rating on the stock in a report on Thursday, June 27th. The Goldman Sachs Group raised their price target on shares of Micron Technology from $138.00 to $158.00 and gave the stock a “buy” rating in a research note on Thursday, June 27th. BNP Paribas cut shares of Micron Technology from an “outperform” rating to an “underperform” rating and dropped their price objective for the company from $140.00 to $67.00 in a research note on Thursday. Wedbush reiterated an “outperform” rating and issued a $170.00 price objective on shares of Micron Technology in a report on Thursday, June 27th. Finally, JPMorgan Chase & Co. boosted their target price on Micron Technology from $130.00 to $180.00 and gave the stock an “overweight” rating in a report on Thursday, June 27th. One equities 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 stock. According to MarketBeat.com, Micron Technology presently has an average rating of “Moderate Buy” and a consensus target price of $152.31.

Insider Activity at Micron Technology

In other news, CEO Sanjay Mehrotra sold 34,284 shares of the company’s stock in a transaction on Tuesday, June 18th. The stock was sold at an average price of $152.28, for a total transaction of $5,220,767.52. Following the sale, the chief executive officer now owns 719,049 shares of the company’s stock, valued at $109,496,781.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, EVP April S. Arnzen sold 4,890 shares of Micron Technology stock in a transaction that occurred 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 completion of the transaction, the executive vice president now owns 142,321 shares in the company, valued at $19,335,731.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Sanjay Mehrotra sold 34,284 shares of the business’s stock in a transaction that occurred on Tuesday, June 18th. The stock was sold at an average price of $152.28, for a total transaction of $5,220,767.52. Following the transaction, the chief executive officer now owns 719,049 shares of the company’s stock, valued at approximately $109,496,781.72. The disclosure for this sale can be found here. Company insiders own 0.32% of the company’s stock.

Micron Technology Stock Up 4.6 %

Micron Technology stock opened at $91.22 on Friday. 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 firm has a 50 day moving average price of $104.18 and a 200 day moving average price of $114.69. Micron Technology, Inc. has a fifty-two week low of $63.83 and a fifty-two week high of $157.54. The company has a market capitalization of $101.15 billion, a PE ratio of -64.24 and a beta of 1.17.

Micron Technology (NASDAQ:MU) last posted its quarterly earnings data on Wednesday, June 26th. The semiconductor manufacturer reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.14. Micron Technology had a negative return on equity of 4.01% and a negative net margin of 7.20%. The firm had revenue of $6.81 billion for the quarter, compared to the consensus estimate of $6.67 billion. During the same quarter in the previous year, the business earned ($1.57) EPS. The company’s quarterly revenue was up 81.5% compared to the same quarter last year. Research analysts expect that Micron Technology, Inc. will post 0.61 earnings per share for the current year.

Micron Technology Dividend Announcement

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

Micron Technology Company 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.