Micron Technology, Inc. (NASDAQ:MU) Shares Acquired by APG Asset Management N.V.

APG Asset Management N.V. increased its stake in shares of Micron Technology, Inc. (NASDAQ:MU) by 12.6% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 783,544 shares of the semiconductor manufacturer’s stock after purchasing an additional 87,485 shares during the period. APG Asset Management N.V.’s holdings in Micron Technology were worth $96,160,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the stock. Price T Rowe Associates Inc. MD grew its holdings in shares of 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 buying an additional 3,315,988 shares in the last quarter. Capital International Investors grew its stake in Micron Technology by 15.1% in the 1st quarter. Capital International Investors now owns 18,303,506 shares of the semiconductor manufacturer’s stock worth $2,157,800,000 after acquiring an additional 2,397,885 shares during the period. Swedbank AB raised its holdings in Micron Technology by 473.8% in the 2nd quarter. Swedbank AB now owns 2,649,180 shares of the semiconductor manufacturer’s stock valued at $348,447,000 after acquiring an additional 2,187,460 shares during the last quarter. 1832 Asset Management L.P. lifted its stake in shares of Micron Technology by 301,500.0% during the 1st 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 during the period. Finally, Van ECK Associates Corp boosted its holdings 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 during the last quarter. 80.84% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

MU has been the topic of several recent analyst reports. Cantor Fitzgerald increased their target price on Micron Technology from $150.00 to $180.00 and gave the stock an “overweight” rating in a research report on Monday, June 17th. Robert W. Baird increased their price objective on shares of Micron Technology from $150.00 to $172.00 and gave the stock an “outperform” rating in a report on Monday, June 24th. Morgan Stanley raised their target price on shares of Micron Technology from $100.00 to $114.00 and gave the stock an “equal weight” rating in a research report on Thursday. Susquehanna dropped their price target on shares of Micron Technology from $175.00 to $165.00 and set a “positive” rating for the company in a research report on Thursday. Finally, UBS Group decreased their price target on shares of Micron Technology from $153.00 to $135.00 and set a “buy” rating on the stock in a report on Tuesday, September 17th. One analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-five have given a buy rating to the company. According to MarketBeat.com, Micron Technology has an average rating of “Moderate Buy” and an average target price of $145.23.

Micron Technology Trading Up 14.7 %

Micron Technology stock opened at $109.88 on Friday. 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 firm has a market capitalization of $121.84 billion, a price-to-earnings ratio of -77.38, a PEG ratio of 0.20 and a beta of 1.17. The firm has a 50-day moving average price of $97.92 and a two-hundred day moving average price of $114.64.

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

Micron Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 23rd. Stockholders of record on Monday, October 7th will be issued a $0.115 dividend. This represents a $0.46 annualized dividend and a dividend yield of 0.42%. The ex-dividend date is Monday, October 7th. Micron Technology’s dividend payout ratio (DPR) is presently -32.39%.

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.