Micron Technology, Inc. (NASDAQ:MU) Shares Bought by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. lifted its stake in shares of Micron Technology, Inc. (NASDAQ:MU) by 1.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,450,347 shares of the semiconductor manufacturer’s stock after purchasing an additional 120,406 shares during the quarter. Charles Schwab Investment Management Inc. owned about 0.58% of Micron Technology worth $550,473,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. FMR LLC grew its holdings in shares of Micron Technology by 47.9% in the 3rd quarter. FMR LLC now owns 21,899,184 shares of the semiconductor manufacturer’s stock worth $1,489,801,000 after acquiring an additional 7,089,790 shares during the last quarter. Wellington Management Group LLP boosted its holdings in shares of Micron Technology by 43.4% in the third quarter. Wellington Management Group LLP now owns 17,383,628 shares of the semiconductor manufacturer’s stock worth $1,182,608,000 after buying an additional 5,257,201 shares during the period. Morgan Stanley increased its position in shares of Micron Technology by 19.7% in the third quarter. Morgan Stanley now owns 17,303,400 shares of the semiconductor manufacturer’s stock worth $1,177,151,000 after acquiring an additional 2,852,688 shares in the last quarter. California Public Employees Retirement System lifted its position in shares of Micron Technology by 125.0% in the 4th quarter. California Public Employees Retirement System now owns 4,541,662 shares of the semiconductor manufacturer’s stock valued at $387,585,000 after acquiring an additional 2,523,267 shares in the last quarter. Finally, Phoenix Holdings Ltd. grew its holdings in shares of Micron Technology by 8,336.6% during the third quarter. Phoenix Holdings Ltd. now owns 1,732,231 shares of the semiconductor manufacturer’s stock valued at $117,762,000 after buying an additional 1,753,262 shares in the last quarter. Institutional investors and hedge funds own 80.84% of the company’s stock.

Micron Technology Stock Down 0.8 %

Shares of MU traded down $0.92 on Tuesday, hitting $119.21. The company’s stock had a trading volume of 12,468,907 shares, compared to its average volume of 20,199,230. The company has a quick ratio of 2.40, a current ratio of 3.74 and a debt-to-equity ratio of 0.30. Micron Technology, Inc. has a fifty-two week low of $59.55 and a fifty-two week high of $130.54. The firm’s fifty day moving average price is $110.11 and its 200-day moving average price is $90.70. The firm has a market capitalization of $131.61 billion, a price-to-earnings ratio of -34.55 and a beta of 1.27.

Micron Technology (NASDAQ:MU) last issued its quarterly earnings results on Wednesday, March 20th. The semiconductor manufacturer reported $0.42 EPS for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.69. Micron Technology had a negative return on equity of 8.98% and a negative net margin of 20.57%. The company had revenue of $5.82 billion for the quarter, compared to analyst estimates of $5.35 billion. During the same period in the previous year, the company posted ($2.03) earnings per share. The company’s quarterly revenue was up 57.7% compared to the same quarter last year. On average, equities research analysts expect that Micron Technology, Inc. will post 0.24 EPS for the current year.

Micron Technology Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 16th. Investors of record on Monday, April 1st were issued a dividend of $0.115 per share. The ex-dividend date of this dividend was Thursday, March 28th. This represents a $0.46 dividend on an annualized basis and a yield of 0.39%. Micron Technology’s payout ratio is -13.33%.

Analyst Ratings Changes

A number of research firms recently issued reports on MU. Citigroup reissued a “buy” rating and set a $150.00 price objective on shares of Micron Technology in a research report on Thursday, April 4th. Barclays increased their price target on shares of Micron Technology from $95.00 to $120.00 and gave the stock an “overweight” rating in a research note on Monday, March 18th. Fox Advisors raised shares of Micron Technology from an “equal weight” rating to an “overweight” rating in a research report on Thursday, March 21st. Robert W. Baird raised Micron Technology from a “neutral” rating to an “outperform” rating and boosted their price target for the stock from $115.00 to $150.00 in a research report on Monday. Finally, Stifel Nicolaus reiterated a “buy” rating and set a $140.00 price target on shares of Micron Technology in a research note on Friday, April 12th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and twenty-five have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $123.60.

Insiders Place Their Bets

In related news, EVP Scott J. Deboer sold 40,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $110.31, for a total transaction of $4,412,400.00. Following the transaction, the executive vice president now directly owns 158,617 shares of the company’s stock, valued at approximately $17,497,041.27. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Sanjay Mehrotra sold 7,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $82.03, for a total value of $574,210.00. Following the completion of the sale, the chief executive officer now directly owns 788,557 shares in the company, valued at $64,685,330.71. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Scott J. Deboer sold 40,000 shares of the stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $110.31, for a total transaction of $4,412,400.00. Following the sale, the executive vice president now owns 158,617 shares in the company, valued at $17,497,041.27. The disclosure for this sale can be found here. Over the last three months, insiders have sold 316,890 shares of company stock valued at $35,485,387. 0.32% of the stock is currently owned by corporate insiders.

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.