Sumitomo Mitsui DS Asset Management Company Ltd Acquires 4,255 Shares of Micron Technology, Inc. (NASDAQ:MU)

Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in Micron Technology, Inc. (NASDAQ:MU) by 3.5% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 126,322 shares of the semiconductor manufacturer’s stock after purchasing an additional 4,255 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Micron Technology were worth $13,101,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Hobbs Group Advisors LLC bought a new stake in shares of Micron Technology during the second quarter worth $28,000. DecisionPoint Financial LLC acquired a new stake in shares of Micron Technology during the first quarter worth $25,000. Valued Wealth Advisors LLC grew its stake in shares of Micron Technology by 230.7% during the first quarter. Valued Wealth Advisors LLC now owns 248 shares of the semiconductor manufacturer’s stock worth $29,000 after purchasing an additional 173 shares during the period. Richard W. Paul & Associates LLC grew its stake in shares of Micron Technology by 128.6% during the second quarter. Richard W. Paul & Associates LLC now owns 256 shares of the semiconductor manufacturer’s stock worth $34,000 after purchasing an additional 144 shares during the period. Finally, LRI Investments LLC grew its stake in shares of Micron Technology by 57.2% during the second quarter. LRI Investments LLC now owns 272 shares of the semiconductor manufacturer’s stock worth $36,000 after purchasing an additional 99 shares during the period. Institutional investors own 80.84% of the company’s stock.

Micron Technology Trading Down 0.8 %

Shares of NASDAQ:MU opened at $111.15 on Friday. The company has a market capitalization of $123.25 billion, a P/E ratio of -78.27 and a beta of 1.18. Micron Technology, Inc. has a 1 year low of $63.88 and a 1 year high of $157.54. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.64 and a quick ratio of 1.68. The business’s 50 day simple moving average is $98.64 and its 200 day simple moving average is $114.54.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings results on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 EPS for the quarter, beating analysts’ consensus estimates of $0.97 by $0.21. The company had revenue of $7.75 billion during the quarter, compared to analysts’ expectations of $7.65 billion. Micron Technology had a return on equity of 1.58% and a net margin of 3.10%. Micron Technology’s revenue was up 93.3% compared to the same quarter last year. During the same period in the prior year, the company earned ($1.21) EPS. On average, research analysts anticipate that Micron Technology, Inc. will post 8.31 EPS for the current fiscal year.

Micron Technology Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 23rd. Investors of record on Monday, October 7th will be given a dividend of $0.115 per share. This represents a $0.46 annualized dividend and a yield of 0.41%. The ex-dividend date is Monday, October 7th. Micron Technology’s dividend payout ratio is currently -32.39%.

Insider Buying and Selling

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of the stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $113.00, for a total transaction of $552,570.00. Following the completion of the sale, the executive vice president now directly owns 135,830 shares in the company, 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 SEC, which is accessible through this link. 0.32% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on MU shares. Susquehanna decreased their price objective on Micron Technology from $175.00 to $165.00 and set a “positive” rating for the company in a research note on Thursday, September 26th. Wolfe Research lifted their price objective on Micron Technology from $150.00 to $200.00 and gave the stock an “outperform” rating in a research note on Friday, June 21st. Robert W. Baird decreased their price objective on Micron Technology from $172.00 to $150.00 and set an “outperform” rating for the company in a research note on Friday, September 27th. Morgan Stanley boosted their target price on Micron Technology from $100.00 to $114.00 and gave the company an “equal weight” rating in a research note on Thursday, September 26th. Finally, Wedbush reissued an “outperform” rating and issued a $140.00 target price on shares of Micron Technology in a research note on Thursday, September 26th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-five have issued a buy rating to the stock. According to data from MarketBeat, Micron Technology currently has a consensus 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.