IFM Investors Pty Ltd Has $23.07 Million Position in Micron Technology, Inc. (NASDAQ:MU)

IFM Investors Pty Ltd lifted its stake in shares of Micron Technology, Inc. (NASDAQ:MU) by 0.4% during the third quarter, Holdings Channel reports. The fund owned 222,470 shares of the semiconductor manufacturer’s stock after buying an additional 904 shares during the quarter. IFM Investors Pty Ltd’s holdings in Micron Technology were worth $23,072,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. raised its holdings in 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 buying an additional 1,681,815 shares during the last quarter. Capital World Investors grew its stake in shares of Micron Technology by 6.6% in the 1st quarter. Capital World Investors now owns 22,748,381 shares of the semiconductor manufacturer’s stock worth $2,681,807,000 after acquiring an additional 1,400,154 shares in the last quarter. Capital International Investors grew its stake in shares of 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 in the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of Micron Technology by 22.2% in the 1st 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 acquiring an additional 3,315,988 shares in the last quarter. Finally, Van ECK Associates Corp grew its stake in shares of Micron Technology by 6.9% in the 2nd quarter. Van ECK Associates Corp now owns 8,086,213 shares of the semiconductor manufacturer’s stock worth $1,063,580,000 after acquiring an additional 519,641 shares in the last quarter. Institutional investors and hedge funds own 80.84% of the company’s stock.

Insider Activity at Micron Technology

In related news, EVP April S. Arnzen sold 4,890 shares of the firm’s stock in a transaction that occurred 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 sale, the executive vice president now directly owns 135,830 shares of the company’s stock, valued at $15,348,790. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.32% of the stock is currently owned by insiders.

Micron Technology Price Performance

Shares of Micron Technology stock traded up $1.29 on Thursday, reaching $106.34. The stock had a trading volume of 6,419,883 shares, compared to its average volume of 22,096,162. Micron Technology, Inc. has a 1 year low of $63.88 and a 1 year high of $157.54. The company has a market cap of $117.91 billion, a P/E ratio of -75.39 and a beta of 1.18. The company has a current ratio of 2.64, a quick ratio of 1.68 and a debt-to-equity ratio of 0.29. The business’s 50 day moving average is $99.23 and its two-hundred day moving average is $114.10.

Micron Technology (NASDAQ:MU) last announced its 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 business had revenue of $7.75 billion for the quarter, compared to the consensus estimate of $7.65 billion. Micron Technology had a net margin of 3.10% and a return on equity of 1.58%. Micron Technology’s quarterly revenue was up 93.3% on a year-over-year basis. During the same period last year, the firm posted ($1.21) earnings per share. As a group, research analysts anticipate that Micron Technology, Inc. will post 8.31 EPS for the current year.

Micron Technology Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 23rd. Investors of record on Monday, October 7th were paid a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a yield of 0.43%. The ex-dividend date was Monday, October 7th. Micron Technology’s dividend payout ratio is currently -32.39%.

Analyst Upgrades and Downgrades

MU has been the subject of several recent analyst reports. UBS Group reduced their target price on shares of Micron Technology from $153.00 to $135.00 and set a “buy” rating for the company in a research note on Tuesday, September 17th. Rosenblatt Securities increased their price target on shares of Micron Technology from $225.00 to $250.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. Wedbush restated an “outperform” rating and set a $140.00 price target on shares of Micron Technology in a research report on Thursday, September 26th. Cantor Fitzgerald restated an “overweight” rating and set a $150.00 price target on shares of Micron Technology in a research report on Tuesday, October 1st. Finally, Morgan Stanley increased their price target on shares of Micron Technology from $100.00 to $114.00 and gave the company an “equal weight” rating in a research report on Thursday, September 26th. One analyst has rated the stock with a sell rating, two have given a hold rating and twenty-five have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $142.85.

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.