J.P. Morgan Private Wealth Advisors LLC Acquires New Stake in Micron Technology, Inc. (NASDAQ:MU)

J.P. Morgan Private Wealth Advisors LLC acquired a new stake in shares of Micron Technology, Inc. (NASDAQ:MUFree Report) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 32,344 shares of the semiconductor manufacturer’s stock, valued at approximately $2,200,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Price T Rowe Associates Inc. MD increased its position in Micron Technology by 411.3% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 15,274,070 shares of the semiconductor manufacturer’s stock worth $763,398,000 after purchasing an additional 12,286,893 shares in the last quarter. Norges Bank acquired a new stake in Micron Technology during the 4th quarter worth approximately $581,559,000. Jennison Associates LLC increased its position in Micron Technology by 37,766.6% during the 2nd quarter. Jennison Associates LLC now owns 6,358,942 shares of the semiconductor manufacturer’s stock worth $401,313,000 after purchasing an additional 6,342,149 shares in the last quarter. Morgan Stanley increased its position in Micron Technology by 59.2% during the 4th quarter. Morgan Stanley now owns 14,185,790 shares of the semiconductor manufacturer’s stock worth $709,006,000 after purchasing an additional 5,274,984 shares in the last quarter. Finally, Royal Bank of Canada increased its position in Micron Technology by 258.0% during the 2nd quarter. Royal Bank of Canada now owns 6,152,787 shares of the semiconductor manufacturer’s stock worth $388,303,000 after purchasing an additional 4,434,124 shares in the last quarter. Institutional investors and hedge funds own 79.25% of the company’s stock.

Insider Buying and Selling at Micron Technology

In other Micron Technology news, CEO Sanjay Mehrotra sold 7,000 shares of the firm’s stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $84.84, for a total value of $593,880.00. Following the sale, the chief executive officer now directly owns 788,557 shares in the company, valued at $66,901,175.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Micron Technology news, CEO Sanjay Mehrotra sold 7,000 shares of the firm’s stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $84.84, for a total value of $593,880.00. Following the sale, the chief executive officer now directly owns 788,557 shares in the company, valued at $66,901,175.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Scott J. Deboer sold 28,228 shares of the firm’s stock in a transaction on Wednesday, December 27th. The shares were sold at an average price of $87.24, for a total value of $2,462,610.72. Following the completion of the sale, the executive vice president now owns 203,342 shares in the company, valued at $17,739,556.08. The disclosure for this sale can be found here. Over the last three months, insiders have sold 299,228 shares of company stock worth $24,678,531. 0.32% of the stock is owned by insiders.

Micron Technology Stock Performance

Shares of MU opened at $85.56 on Friday. The business’s fifty day moving average price is $83.45 and its 200 day moving average price is $74.54. Micron Technology, Inc. has a 12-month low of $52.76 and a 12-month high of $90.04. The stock has a market capitalization of $94.45 billion, a PE ratio of -13.62 and a beta of 1.24. The company has a debt-to-equity ratio of 0.29, a current ratio of 3.53 and a quick ratio of 2.14.

Micron Technology (NASDAQ:MUGet Free Report) last announced its quarterly earnings data on Wednesday, December 20th. The semiconductor manufacturer reported ($0.95) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.01) by $0.06. Micron Technology had a negative return on equity of 14.44% and a negative net margin of 42.47%. The firm had revenue of $4.73 billion for the quarter, compared to analysts’ expectations of $4.58 billion. During the same period last year, the business posted ($0.15) earnings per share. The firm’s revenue for the quarter was up 15.7% on a year-over-year basis. Equities research analysts forecast that Micron Technology, Inc. will post -0.99 EPS for the current year.

Micron Technology Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, January 18th. Shareholders of record on Tuesday, January 2nd were paid a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a yield of 0.54%. The ex-dividend date was Friday, December 29th. Micron Technology’s payout ratio is -7.32%.

Analysts Set New Price Targets

A number of research firms recently issued reports on MU. Citigroup increased their target price on shares of Micron Technology from $88.00 to $95.00 and gave the stock a “buy” rating in a research report on Thursday, December 21st. KeyCorp reaffirmed an “overweight” rating on shares of Micron Technology in a research report on Wednesday, January 31st. Cantor Fitzgerald assumed coverage on shares of Micron Technology in a research report on Tuesday, January 23rd. They issued an “overweight” rating and a $100.00 price objective for the company. Bank of America increased their price objective on shares of Micron Technology from $95.00 to $100.00 and gave the company a “buy” rating in a research report on Thursday, December 21st. Finally, UBS Group increased their price objective on shares of Micron Technology from $90.00 to $95.00 and gave the company a “buy” rating in a research report on Thursday, December 21st. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and twenty-two have assigned a buy rating to the stock. According to MarketBeat, Micron Technology has a consensus rating of “Moderate Buy” and an average price target of $94.95.

Check Out Our Latest Analysis on Micron Technology

About Micron Technology

(Free Report)

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.

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Institutional Ownership by Quarter for Micron Technology (NASDAQ:MU)

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