Mutual of America Capital Management LLC Grows Stock Holdings in Micron Technology, Inc. (NASDAQ:MU)

Mutual of America Capital Management LLC lifted its position in shares of Micron Technology, Inc. (NASDAQ:MU) by 0.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 161,305 shares of the semiconductor manufacturer’s stock after purchasing an additional 1,150 shares during the period. Mutual of America Capital Management LLC’s holdings in Micron Technology were worth $11,449,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in MU. OLD Mission Capital LLC purchased a new stake in shares of Micron Technology during the 3rd quarter worth $251,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its position in Micron Technology by 13.3% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 206,953 shares of the semiconductor manufacturer’s stock valued at $17,587,000 after acquiring an additional 24,251 shares during the last quarter. Cambridge Investment Research Advisors Inc. lifted its position in Micron Technology by 13.2% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 102,488 shares of the semiconductor manufacturer’s stock valued at $8,709,000 after acquiring an additional 11,981 shares during the last quarter. Principal Financial Group Inc. lifted its position in Micron Technology by 2.6% in the second quarter. Principal Financial Group Inc. now owns 1,375,773 shares of the semiconductor manufacturer’s stock valued at $116,914,000 after acquiring an additional 34,560 shares during the last quarter. Finally, National Asset Management Inc. lifted its position in Micron Technology by 3.3% in the second quarter. National Asset Management Inc. now owns 20,658 shares of the semiconductor manufacturer’s stock valued at $1,761,000 after acquiring an additional 667 shares during the last quarter. 77.38% of the stock is owned by institutional investors and hedge funds.

MU stock opened at $97.36 on Friday. The company has a market cap of $109.02 billion, a P/E ratio of 15.02, a P/E/G ratio of 0.46 and a beta of 1.15. Micron Technology, Inc. has a 52 week low of $65.67 and a 52 week high of $98.45. The company’s 50-day moving average price is $86.57 and its 200 day moving average price is $78.18. The company has a current ratio of 3.10, a quick ratio of 2.36 and a debt-to-equity ratio of 0.15.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings results on Monday, December 20th. The semiconductor manufacturer reported $2.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.11 by $0.05. Micron Technology had a net margin of 24.86% and a return on equity of 19.01%. The company had revenue of $7.69 billion for the quarter, compared to the consensus estimate of $7.68 billion. During the same quarter in the prior year, the firm earned $0.71 earnings per share. The company’s revenue for the quarter was up 33.2% compared to the same quarter last year. On average, equities research analysts expect that Micron Technology, Inc. will post 8.62 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 18th. Shareholders of record on Monday, January 3rd will be issued a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 0.41%. The ex-dividend date of this dividend is Friday, December 31st. Micron Technology’s dividend payout ratio (DPR) is presently 6.17%.

A number of brokerages recently weighed in on MU. Morgan Stanley boosted their price target on shares of Micron Technology from $75.00 to $77.00 and gave the company an “equal weight” rating in a research report on Tuesday, December 21st. BMO Capital Markets started coverage on shares of Micron Technology in a research report on Tuesday, December 21st. They issued a “buy” rating and a $115.00 price target for the company. Summit Insights upgraded shares of Micron Technology from a “hold” rating to a “buy” rating in a research note on Monday, December 20th. Mizuho lifted their price objective on shares of Micron Technology from $98.00 to $110.00 in a research note on Thursday. Finally, Credit Suisse Group lifted their price objective on shares of Micron Technology from $110.00 to $130.00 and gave the company an “outperform” rating in a research note on Tuesday, December 21st. One analyst has rated the stock with a sell rating, six have issued a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $111.93.

In related news, EVP Manish H. Bhatia sold 97,107 shares of the company’s stock in a transaction that occurred on Friday, January 14th. The shares were sold at an average price of $96.02, for a total transaction of $9,324,214.14. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP April S. Arnzen sold 8,300 shares of the company’s stock in a transaction that occurred on Monday, December 20th. The shares were sold at an average price of $82.09, for a total transaction of $681,347.00. The disclosure for this sale can be found here. Insiders sold 140,407 shares of company stock worth $13,232,161 in the last ninety days. Insiders own 0.32% of the company’s stock.

Micron Technology Company Profile

Micron Technology, Inc engages in the provision of innovative memory and storage solutions. It operates through the following segments: Compute & Networking Business Unit (CNBU), Mobile Business Unit (MBU), Storage Business Unit (SBU), and Embedded Business Unit (EBU). The CNBU segment includes memory products sold into cloud server, enterprise, client, graphics, and networking markets.

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Institutional Ownership by Quarter for Micron Technology (NASDAQ:MU)

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