Charles Schwab Investment Management Inc. Has $579.07 Million Stock Holdings in Micron Technology, Inc. (NASDAQ:MU)

Charles Schwab Investment Management Inc. boosted its holdings in shares of Micron Technology, Inc. (NASDAQ:MU) by 2.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,880,563 shares of the semiconductor manufacturer’s stock after purchasing an additional 159,437 shares during the period. Charles Schwab Investment Management Inc. owned about 0.62% of Micron Technology worth $579,068,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of MU. State Street Corp increased its position in shares of Micron Technology by 3.1% during the 3rd quarter. State Street Corp now owns 48,226,710 shares of the semiconductor manufacturer’s stock worth $5,001,592,000 after purchasing an additional 1,434,568 shares in the last quarter. Primecap Management Co. CA grew its stake in Micron Technology by 0.6% during the third quarter. Primecap Management Co. CA now owns 37,631,860 shares of the semiconductor manufacturer’s stock worth $3,902,800,000 after buying an additional 206,499 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Micron Technology by 3.9% during the third quarter. Geode Capital Management LLC now owns 23,723,545 shares of the semiconductor manufacturer’s stock worth $2,451,987,000 after buying an additional 892,607 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Micron Technology by 21.7% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 11,326,224 shares of the semiconductor manufacturer’s stock worth $1,174,643,000 after buying an additional 2,022,180 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its stake in shares of Micron Technology by 1.5% in the fourth quarter. Bank of New York Mellon Corp now owns 9,956,311 shares of the semiconductor manufacturer’s stock valued at $837,923,000 after acquiring an additional 144,897 shares during the last quarter. 80.84% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

MU has been the subject of a number of recent analyst reports. Wedbush reaffirmed an “outperform” rating and set a $140.00 price target on shares of Micron Technology in a report on Tuesday, December 17th. Needham & Company LLC decreased their target price on Micron Technology from $140.00 to $120.00 and set a “buy” rating on the stock in a report on Thursday, December 19th. JPMorgan Chase & Co. cut their price target on Micron Technology from $180.00 to $145.00 and set an “overweight” rating for the company in a report on Thursday, December 19th. Barclays decreased their price objective on shares of Micron Technology from $145.00 to $110.00 and set an “overweight” rating on the stock in a report on Friday, December 20th. Finally, Piper Sandler lowered their price objective on shares of Micron Technology from $150.00 to $120.00 and set an “overweight” rating for the company in a research report on Thursday, December 19th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $134.96.

Insider Transactions at Micron Technology

In related news, EVP April S. Arnzen sold 4,890 shares of the company’s stock in a transaction on Friday, December 20th. The shares were sold at an average price of $85.21, for a total value of $416,676.90. Following the completion of 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 represents a 2.63 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.30% of the stock is currently owned by insiders.

Micron Technology Stock Performance

Shares of NASDAQ:MU opened at $91.20 on Wednesday. The company has a market capitalization of $101.61 billion, a price-to-earnings ratio of 26.28 and a beta of 1.18. The firm’s 50 day simple moving average is $95.81 and its 200 day simple moving average is $98.63. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.72 and a quick ratio of 1.75. Micron Technology, Inc. has a fifty-two week low of $83.54 and a fifty-two week high of $157.54.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings results on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 earnings per share for the quarter, topping analysts’ consensus estimates of $1.60 by $0.19. Micron Technology had a net margin of 13.34% and a return on equity of 8.32%. The company had revenue of $8.71 billion for the quarter, compared to analysts’ expectations of $8.71 billion. During the same period last year, the firm posted ($0.95) earnings per share. The business’s quarterly revenue was up 84.3% compared to the same quarter last year. As a group, sell-side analysts forecast that Micron Technology, Inc. will post 6.08 earnings per share for the current year.

Micron Technology Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Monday, December 30th were issued a $0.115 dividend. The ex-dividend date of this dividend was Monday, December 30th. This represents a $0.46 annualized dividend and a dividend yield of 0.50%. Micron Technology’s dividend payout ratio (DPR) is currently 13.26%.

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.