New World Advisors LLC Boosts Stock Holdings in Micron Technology, Inc. (NASDAQ:MU)

New World Advisors LLC lifted its position in shares of Micron Technology, Inc. (NASDAQ:MU) by 77.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,175 shares of the semiconductor manufacturer’s stock after acquiring an additional 1,825 shares during the period. New World Advisors LLC’s holdings in Micron Technology were worth $433,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in MU. Clearbridge Investments LLC boosted its holdings in shares of Micron Technology by 1.1% during the 1st quarter. Clearbridge Investments LLC now owns 1,931,811 shares of the semiconductor manufacturer’s stock valued at $227,741,000 after acquiring an additional 20,741 shares during the last quarter. Global X Japan Co. Ltd. boosted its holdings in Micron Technology by 23.1% in the third quarter. Global X Japan Co. Ltd. now owns 51,832 shares of the semiconductor manufacturer’s stock worth $5,375,000 after purchasing an additional 9,735 shares during the last quarter. Chapin Davis Inc. bought a new stake in Micron Technology in the 2nd quarter worth approximately $4,056,000. Handelsbanken Fonder AB grew its position in Micron Technology by 2.4% in the 3rd quarter. Handelsbanken Fonder AB now owns 434,596 shares of the semiconductor manufacturer’s stock worth $45,072,000 after purchasing an additional 9,992 shares during the period. Finally, Kempner Capital Management Inc. raised its stake in Micron Technology by 16.8% during the 3rd quarter. Kempner Capital Management Inc. now owns 94,192 shares of the semiconductor manufacturer’s stock valued at $9,769,000 after buying an additional 13,581 shares during the last quarter. 80.84% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

MU has been the topic of a number of research reports. Stifel Nicolaus dropped their price target on Micron Technology from $165.00 to $135.00 and set a “buy” rating on the stock in a research note on Thursday, September 19th. Morgan Stanley raised their target price on Micron Technology from $100.00 to $114.00 and gave the stock an “equal weight” rating in a research report on Thursday, September 26th. Robert W. Baird reduced their price target on shares of 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 downgraded shares of Micron Technology from an “outperform” rating to an “underperform” rating and dropped their price objective for the stock from $140.00 to $67.00 in a report on Thursday, September 12th. Finally, Bank of America upped their target price on shares of Micron Technology from $110.00 to $125.00 and gave the company a “buy” rating in a report on Thursday, September 26th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-five have assigned a buy rating to the stock. According to MarketBeat, Micron Technology currently has a consensus rating of “Moderate Buy” and a consensus target price of $142.85.

Insider Buying and Selling

In related news, EVP April S. Arnzen sold 4,890 shares of the stock in a transaction dated 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 transaction, the executive vice president now owns 135,830 shares of the company’s stock, valued at approximately $15,348,790. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.32% of the stock is currently owned by company insiders.

Micron Technology Price Performance

NASDAQ MU traded up $1.06 on Friday, reaching $107.91. The company had a trading volume of 12,264,950 shares, compared to its average volume of 22,081,268. The stock has a market capitalization of $119.66 billion, a PE ratio of -75.99 and a beta of 1.18. Micron Technology, Inc. has a 12 month low of $63.88 and a 12 month high of $157.54. The company has a quick ratio of 1.68, a current ratio of 2.64 and a debt-to-equity ratio of 0.29. The firm’s 50 day moving average price is $99.22 and its 200 day moving average price is $113.89.

Micron Technology (NASDAQ:MU) last posted its earnings results on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 EPS for the quarter, topping analysts’ consensus estimates of $0.97 by $0.21. Micron Technology had a return on equity of 1.58% and a net margin of 3.10%. The company had revenue of $7.75 billion for the quarter, compared to the consensus estimate of $7.65 billion. During the same period in the previous year, the business earned ($1.21) earnings per share. The firm’s revenue for the quarter was up 93.3% on a year-over-year basis. As a group, equities analysts predict that Micron Technology, Inc. will post 8.31 earnings per share for the current year.

Micron Technology Dividend Announcement

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

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.