Mizuho Securities USA LLC Raises Stock Position in Micron Technology, Inc. (NASDAQ:MU)

Mizuho Securities USA LLC lifted its position in shares of Micron Technology, Inc. (NASDAQ:MU) by 464.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 481,993 shares of the semiconductor manufacturer’s stock after purchasing an additional 396,609 shares during the quarter. Mizuho Securities USA LLC’s holdings in Micron Technology were worth $49,987,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the business. Capital World Investors lifted its holdings in Micron Technology by 6.6% during the first quarter. Capital World Investors now owns 22,748,381 shares of the semiconductor manufacturer’s stock valued at $2,681,807,000 after purchasing an additional 1,400,154 shares in the last quarter. Capital International Investors increased its holdings in shares of Micron Technology by 15.1% in the first quarter. Capital International Investors now owns 18,303,506 shares of the semiconductor manufacturer’s stock valued at $2,157,800,000 after purchasing an additional 2,397,885 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of Micron Technology by 22.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 18,243,633 shares of the semiconductor manufacturer’s stock worth $2,150,743,000 after acquiring an additional 3,315,988 shares during the period. Van ECK Associates Corp increased its position in Micron Technology by 30.6% during the third quarter. Van ECK Associates Corp now owns 10,564,198 shares of the semiconductor manufacturer’s stock worth $1,109,769,000 after purchasing an additional 2,477,985 shares during the last quarter. Finally, Boston Partners raised its stake in Micron Technology by 1.4% during the first quarter. Boston Partners now owns 4,536,283 shares of the semiconductor manufacturer’s stock worth $534,189,000 after purchasing an additional 61,127 shares during the period. 80.84% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of the firm’s stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $113.00, for a total transaction of $552,570.00. Following the completion of the transaction, the executive vice president now owns 135,830 shares in the company, valued at $15,348,790. This trade represents a 3.47 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.32% of the stock is currently owned by company insiders.

Micron Technology Stock Down 2.9 %

MU opened at $96.34 on Friday. Micron Technology, Inc. has a twelve month low of $72.93 and a twelve month high of $157.54. The firm has a market cap of $106.82 billion, a P/E ratio of 141.68 and a beta of 1.18. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.68 and a current ratio of 2.64. The business has a 50 day moving average price of $101.33 and a 200 day moving average price of $112.72.

Micron Technology (NASDAQ:MU) last posted its quarterly earnings data on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to analysts’ expectations of $7.65 billion. During the same period in the prior year, the business earned ($1.21) earnings per share. Micron Technology’s revenue for the quarter was up 93.3% compared to the same quarter last year. Research analysts forecast that Micron Technology, Inc. will post 8.31 EPS for the current year.

Micron Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 23rd. Stockholders of record on Monday, October 7th were issued a dividend of $0.115 per share. This represents a $0.46 annualized dividend and a dividend yield of 0.48%. The ex-dividend date of this dividend was Monday, October 7th. Micron Technology’s payout ratio is presently 67.65%.

Analysts Set New Price Targets

MU has been the subject of several analyst reports. China Renaissance initiated coverage on Micron Technology in a research report on Monday, October 28th. They issued a “buy” rating and a $148.00 price objective for the company. Wells Fargo & Company cut their price objective on Micron Technology from $190.00 to $175.00 and set an “overweight” rating for the company in a research report on Wednesday, September 18th. Susquehanna decreased their target price on shares of Micron Technology from $175.00 to $165.00 and set a “positive” rating on the stock in a research report on Thursday, September 26th. Wedbush reiterated an “outperform” rating and set a $140.00 price target on shares of Micron Technology in a research report on Thursday, September 26th. Finally, Bank of America upped their price objective on shares of Micron Technology from $110.00 to $125.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. One analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-six have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $143.04.

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.