Livforsakringsbolaget Skandia Omsesidigt Has $256,000 Stock Holdings in Micron Technology, Inc. (NASDAQ:MU)

Livforsakringsbolaget Skandia Omsesidigt cut its stake in Micron Technology, Inc. (NASDAQ:MU) by 20.4% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,947 shares of the semiconductor manufacturer’s stock after selling 500 shares during the period. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Micron Technology were worth $256,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the stock. Norges Bank bought a new position in Micron Technology in the 4th quarter valued at $769,372,000. Price T Rowe Associates Inc. MD grew its stake in shares of Micron Technology by 22.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 18,243,633 shares of the semiconductor manufacturer’s stock valued at $2,150,743,000 after purchasing an additional 3,315,988 shares during the last quarter. California Public Employees Retirement System increased its holdings in shares of Micron Technology by 125.0% in the fourth quarter. California Public Employees Retirement System now owns 4,541,662 shares of the semiconductor manufacturer’s stock valued at $387,585,000 after purchasing an additional 2,523,267 shares in the last quarter. Capital International Investors lifted its holdings in Micron Technology by 15.1% during the 1st quarter. Capital International Investors now owns 18,303,506 shares of the semiconductor manufacturer’s stock worth $2,157,800,000 after buying an additional 2,397,885 shares in the last quarter. Finally, 1832 Asset Management L.P. boosted its position in Micron Technology by 301,500.0% in the 1st quarter. 1832 Asset Management L.P. now owns 1,809,600 shares of the semiconductor manufacturer’s stock valued at $213,334,000 after buying an additional 1,809,000 shares during the last quarter. 80.84% of the stock is currently owned by institutional investors.

Micron Technology Price Performance

MU stock traded up $2.81 during midday trading on Monday, reaching $95.89. 8,879,835 shares of the stock were exchanged, compared to its average volume of 21,335,416. The company has a fifty day moving average price of $124.66 and a 200 day moving average price of $113.04. Micron Technology, Inc. has a 52 week low of $61.75 and a 52 week high of $157.54. The stock has a market capitalization of $106.33 billion, a PE ratio of -67.57 and a beta of 1.18. The company has a debt-to-equity ratio of 0.29, a current ratio of 3.41 and a quick ratio of 2.16.

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

Micron Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 23rd. Shareholders of record on Monday, July 8th were paid a $0.115 dividend. This represents a $0.46 annualized dividend and a yield of 0.48%. The ex-dividend date was Monday, July 8th. Micron Technology’s dividend payout ratio (DPR) is presently -32.39%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on MU shares. Robert W. Baird boosted their price target on shares of Micron Technology from $150.00 to $172.00 and gave the stock an “outperform” rating in a research note on Monday, June 24th. Wells Fargo & Company increased their target price on Micron Technology from $135.00 to $190.00 and gave the company an “overweight” rating in a research note on Thursday, June 20th. TD Cowen boosted their target price on Micron Technology from $150.00 to $160.00 and gave the stock a “buy” rating in a research report on Thursday, June 27th. UBS Group cut their price target on shares of Micron Technology from $155.00 to $153.00 and set a “buy” rating on the stock in a research report on Thursday, June 27th. Finally, Raymond James boosted their price objective on shares of Micron Technology from $130.00 to $160.00 and gave the company an “outperform” rating in a report on Friday, June 21st. Two equities research analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $157.92.

Insiders Place Their Bets

In other news, EVP April S. Arnzen sold 4,890 shares of the stock in a transaction that occurred on Thursday, June 27th. The stock was sold at an average price of $135.86, for a total value of $664,355.40. Following the completion of the sale, the executive vice president now directly owns 142,321 shares of the company’s stock, valued at $19,335,731.06. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, EVP April S. Arnzen sold 4,890 shares of the company’s stock in a transaction on Thursday, June 27th. The shares were sold at an average price of $135.86, for a total value of $664,355.40. Following the completion of the sale, the executive vice president now owns 142,321 shares in the company, valued at approximately $19,335,731.06. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Sanjay Mehrotra sold 7,000 shares of the firm’s stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $122.89, for a total transaction of $860,230.00. Following the transaction, the chief executive officer now directly owns 719,049 shares in the company, valued at $88,363,931.61. The disclosure for this sale can be found here. In the last three months, insiders have sold 89,174 shares of company stock worth $12,240,223. Corporate insiders own 0.32% of the company’s stock.

Micron Technology Company 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.