Micron Technology, Inc. (NASDAQ:MU) Stock Position Raised by Czech National Bank

Czech National Bank lifted its stake in shares of Micron Technology, Inc. (NASDAQ:MU) by 7.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 225,924 shares of the semiconductor manufacturer’s stock after acquiring an additional 14,902 shares during the quarter. Czech National Bank’s holdings in Micron Technology were worth $23,431,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Vanguard Group Inc. raised its holdings in shares of Micron Technology by 1.8% during the first quarter. Vanguard Group Inc. now owns 96,666,590 shares of the semiconductor manufacturer’s stock worth $11,396,024,000 after acquiring an additional 1,681,815 shares in the last quarter. Capital World Investors raised its holdings in Micron Technology by 6.6% during the first quarter. Capital World Investors now owns 22,748,381 shares of the semiconductor manufacturer’s stock valued at $2,681,807,000 after buying an additional 1,400,154 shares in the last quarter. Capital International Investors raised its holdings in Micron Technology by 15.1% during the first quarter. Capital International Investors now owns 18,303,506 shares of the semiconductor manufacturer’s stock valued at $2,157,800,000 after buying an additional 2,397,885 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 valued at $2,150,743,000 after buying an additional 3,315,988 shares in the last quarter. Finally, Van ECK Associates Corp raised its holdings in Micron Technology by 6.9% during the second quarter. Van ECK Associates Corp now owns 8,086,213 shares of the semiconductor manufacturer’s stock valued at $1,063,580,000 after buying an additional 519,641 shares in the last quarter. 80.84% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts recently weighed in on MU shares. Wedbush reissued an “outperform” rating and set a $140.00 price objective on shares of Micron Technology in a research report on Thursday, September 26th. Robert W. Baird cut their price objective on Micron Technology from $172.00 to $150.00 and set an “outperform” rating for the company in a research report on Friday, September 27th. BNP Paribas cut Micron Technology from an “outperform” rating to an “underperform” rating and cut their price objective for the stock from $140.00 to $67.00 in a research report on Thursday, September 12th. UBS Group cut their price objective on Micron Technology from $153.00 to $135.00 and set a “buy” rating for the company in a research report on Tuesday, September 17th. Finally, The Goldman Sachs Group boosted their price objective on Micron Technology from $138.00 to $158.00 and gave the stock a “buy” rating in a research report on Thursday, June 27th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-five have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $143.23.

Micron Technology Stock Up 2.0 %

NASDAQ:MU opened at $101.82 on Friday. The stock’s fifty day moving average price is $96.80 and its two-hundred day moving average price is $114.90. Micron Technology, Inc. has a 52-week low of $63.88 and a 52-week high of $157.54. 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 company has a market cap of $112.90 billion, a price-to-earnings ratio of -71.70, a P/E/G ratio of 0.20 and a beta of 1.17.

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

Micron Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 23rd. Investors of record on Monday, October 7th will be given a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.45%. The ex-dividend date of this dividend is Monday, October 7th. Micron Technology’s dividend payout ratio is currently -32.39%.

Insider Activity at Micron Technology

In related news, EVP April S. Arnzen sold 4,890 shares of the company’s stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $113.00, for a total value of $552,570.00. Following the completion of the sale, the executive vice president now owns 135,830 shares in the company, valued at approximately $15,348,790. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.32% of the stock is owned by corporate insiders.

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.