Capital International Sarl Has $4.60 Million Stock Position in Micron Technology, Inc. (NASDAQ:MU)

Capital International Sarl lifted its stake in Micron Technology, Inc. (NASDAQ:MU) by 14.2% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 38,998 shares of the semiconductor manufacturer’s stock after purchasing an additional 4,846 shares during the quarter. Capital International Sarl’s holdings in Micron Technology were worth $4,597,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. boosted its position in shares of Micron Technology by 1.8% in the 1st quarter. Vanguard Group Inc. now owns 96,666,590 shares of the semiconductor manufacturer’s stock valued at $11,396,024,000 after purchasing an additional 1,681,815 shares during the period. Sanders Capital LLC lifted its stake in Micron Technology by 2.3% in the 4th quarter. Sanders Capital LLC now owns 22,583,348 shares of the semiconductor manufacturer’s stock worth $1,927,263,000 after acquiring an additional 503,923 shares in the last quarter. Capital International Investors lifted its stake in 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. Norges Bank purchased a new stake in Micron Technology in the 4th quarter worth about $769,372,000. Finally, Van ECK Associates Corp lifted its stake in Micron Technology by 28.9% in the 1st quarter. Van ECK Associates Corp now owns 7,566,572 shares of the semiconductor manufacturer’s stock worth $892,023,000 after acquiring an additional 1,695,876 shares in the last quarter. Institutional investors and hedge funds own 80.84% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on MU shares. Stifel Nicolaus increased their price objective on Micron Technology from $140.00 to $165.00 and gave the stock a “buy” rating in a research note on Tuesday, June 18th. Needham & Company LLC increased their price objective on Micron Technology from $120.00 to $150.00 and gave the stock a “buy” rating in a research note on Thursday, June 27th. KeyCorp increased their price objective on Micron Technology from $160.00 to $165.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 9th. Cantor Fitzgerald raised their price target on Micron Technology from $150.00 to $180.00 and gave the stock an “overweight” rating in a research note on Monday, June 17th. Finally, UBS Group cut their price target on Micron Technology from $155.00 to $153.00 and set a “buy” rating for the company in a research note on Thursday, June 27th. Two equities research analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $158.72.

Insider Activity

In other news, CEO Sanjay Mehrotra sold 7,000 shares of the company’s stock in a transaction that occurred on Tuesday, April 30th. The stock was sold at an average price of $114.87, for a total value of $804,090.00. Following the sale, the chief executive officer now directly owns 719,049 shares in the company, valued at approximately $82,597,158.63. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, EVP April S. Arnzen sold 4,890 shares of Micron Technology stock in a transaction dated Thursday, June 27th. The shares were sold at an average price of $135.86, for a total transaction of $664,355.40. Following the completion of the transaction, the executive vice president now directly owns 142,321 shares of the company’s stock, valued at approximately $19,335,731.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Sanjay Mehrotra sold 7,000 shares of the company’s stock in a transaction dated Tuesday, April 30th. The stock was sold at an average price of $114.87, for a total transaction of $804,090.00. Following the sale, the chief executive officer now directly owns 719,049 shares in the company, valued at $82,597,158.63. The disclosure for this sale can be found here. In the last three months, insiders have sold 236,730 shares of company stock worth $29,435,039. Corporate insiders own 0.32% of the company’s stock.

Micron Technology Stock Performance

MU traded up $1.96 during midday trading on Friday, reaching $109.41. The company’s stock had a trading volume of 18,542,372 shares, compared to its average volume of 21,019,789. The stock has a market cap of $121.32 billion, a P/E ratio of -77.05 and a beta of 1.18. The company has a fifty day simple moving average of $131.01 and a 200 day simple moving average of $111.84. The company has a current ratio of 3.41, a quick ratio of 2.16 and a debt-to-equity ratio of 0.29. Micron Technology, Inc. has a twelve month low of $61.75 and a twelve month high of $157.54.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings data on Wednesday, June 26th. The semiconductor manufacturer reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.14. The company had revenue of $6.81 billion for the quarter, compared to analyst estimates of $6.67 billion. Micron Technology had a negative return on equity of 4.01% and a negative net margin of 7.20%. Micron Technology’s revenue for the quarter was up 81.5% compared to the same quarter last year. During the same quarter last year, the firm earned ($1.57) EPS. Research analysts expect that Micron Technology, Inc. will post 0.58 earnings per share for the current year.

Micron Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 23rd. Stockholders of record on Monday, July 8th were issued a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.42%. The ex-dividend date was Monday, July 8th. Micron Technology’s payout ratio is -32.39%.

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.