Czech National Bank Buys 14,499 Shares of Micron Technology, Inc. (NASDAQ:MU)

Czech National Bank boosted its stake in shares of Micron Technology, Inc. (NASDAQ:MU) by 6.4% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 240,423 shares of the semiconductor manufacturer’s stock after buying an additional 14,499 shares during the period. Czech National Bank’s holdings in Micron Technology were worth $20,234,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC lifted its stake in Micron Technology by 81.6% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 577,737 shares of the semiconductor manufacturer’s stock worth $48,622,000 after purchasing an additional 259,627 shares during the last quarter. CWA Asset Management Group LLC raised its holdings in shares of Micron Technology by 3.7% in the fourth quarter. CWA Asset Management Group LLC now owns 48,012 shares of the semiconductor manufacturer’s stock worth $4,041,000 after buying an additional 1,717 shares during the period. Nordea Investment Management AB lifted its stake in shares of Micron Technology by 6.2% during the 4th quarter. Nordea Investment Management AB now owns 286,363 shares of the semiconductor manufacturer’s stock worth $24,327,000 after acquiring an additional 16,622 shares during the last quarter. Everence Capital Management Inc. boosted its holdings in Micron Technology by 12.2% during the 4th quarter. Everence Capital Management Inc. now owns 27,900 shares of the semiconductor manufacturer’s stock valued at $2,348,000 after acquiring an additional 3,040 shares during the period. Finally, NRI Wealth Management LC bought a new position in Micron Technology in the 4th quarter valued at $1,010,000. 80.84% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, EVP April S. Arnzen sold 4,890 shares of the firm’s stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $85.21, for a total value of $416,676.90. Following the transaction, the executive vice president now directly owns 181,223 shares of the company’s stock, valued at approximately $15,442,011.83. This trade represents a 2.63 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.30% of the stock is currently owned by insiders.

Micron Technology Stock Down 0.1 %

MU stock opened at $99.34 on Monday. Micron Technology, Inc. has a one year low of $79.15 and a one year high of $157.54. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.68 and a current ratio of 2.64. The firm’s fifty day moving average is $98.68 and its 200 day moving average is $103.15. The firm has a market cap of $110.67 billion, a PE ratio of 146.09 and a beta of 1.16.

Micron Technology (NASDAQ:MU) last issued its quarterly earnings results on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.60 by $0.19. The company had revenue of $8.71 billion for the quarter, compared to the consensus estimate of $8.71 billion. Micron Technology had a return on equity of 1.58% and a net margin of 3.10%. Micron Technology’s revenue for the quarter was up 84.3% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.95) earnings per share. On average, research analysts forecast that Micron Technology, Inc. will post 8.31 EPS for the current year.

Micron Technology Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Monday, December 30th will be paid a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a yield of 0.46%. The ex-dividend date is Monday, December 30th. Micron Technology’s dividend payout ratio is presently 67.65%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on MU shares. Needham & Company LLC decreased their price target on shares of Micron Technology from $140.00 to $120.00 and set a “buy” rating for the company in a research note on Thursday, December 19th. Cantor Fitzgerald lowered their target price on Micron Technology from $150.00 to $130.00 and set an “overweight” rating for the company in a report on Thursday, December 19th. Raymond James raised their price target on Micron Technology from $125.00 to $140.00 and gave the company an “outperform” rating in a research note on Thursday, September 26th. Bank of America lowered shares of Micron Technology from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $125.00 to $110.00 in a research note on Thursday, December 19th. Finally, JPMorgan Chase & Co. cut their target price on shares of Micron Technology from $180.00 to $145.00 and set an “overweight” rating on the stock in a research report on Thursday, December 19th. One research analyst has rated the stock with a sell rating, three have given a hold rating and twenty-three have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $135.24.

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.