Knights of Columbus Asset Advisors LLC Acquires 27,347 Shares of Micron Technology, Inc. (NASDAQ:MU)

Knights of Columbus Asset Advisors LLC boosted its holdings in Micron Technology, Inc. (NASDAQ:MU) by 635.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 31,650 shares of the semiconductor manufacturer’s stock after buying an additional 27,347 shares during the period. Knights of Columbus Asset Advisors LLC’s holdings in Micron Technology were worth $2,701,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its position in Micron Technology by 0.3% in the 3rd quarter. Vanguard Group Inc. now owns 94,229,187 shares of the semiconductor manufacturer’s stock worth $6,410,412,000 after buying an additional 305,860 shares during the period. State Street Corp increased its position in shares of Micron Technology by 2.4% during the first quarter. State Street Corp now owns 45,911,286 shares of the semiconductor manufacturer’s stock valued at $2,770,316,000 after purchasing an additional 1,074,820 shares during the period. FMR LLC increased its position in shares of Micron Technology by 47.9% during the third quarter. FMR LLC now owns 21,899,184 shares of the semiconductor manufacturer’s stock valued at $1,489,801,000 after purchasing an additional 7,089,790 shares during the period. Geode Capital Management LLC increased its position in shares of Micron Technology by 1.3% during the first quarter. Geode Capital Management LLC now owns 20,348,845 shares of the semiconductor manufacturer’s stock valued at $1,225,181,000 after purchasing an additional 253,179 shares during the period. Finally, Wellington Management Group LLP increased its position in shares of Micron Technology by 43.4% during the third quarter. Wellington Management Group LLP now owns 17,383,628 shares of the semiconductor manufacturer’s stock valued at $1,182,608,000 after purchasing an additional 5,257,201 shares during the period. 80.84% of the stock is owned by institutional investors.

Micron Technology Trading Down 4.6 %

NASDAQ MU opened at $106.77 on Friday. The stock has a 50-day simple moving average of $102.95 and a 200 day simple moving average of $86.80. The company has a current ratio of 3.74, a quick ratio of 2.40 and a debt-to-equity ratio of 0.30. Micron Technology, Inc. has a 12 month low of $58.03 and a 12 month high of $130.54.

Micron Technology (NASDAQ:MU) last released its quarterly earnings data on Wednesday, March 20th. The semiconductor manufacturer reported $0.42 EPS for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.69. The business had revenue of $5.82 billion during the quarter, compared to the consensus estimate of $5.35 billion. Micron Technology had a negative return on equity of 8.98% and a negative net margin of 20.57%. The firm’s revenue was up 57.7% on a year-over-year basis. During the same quarter in the prior year, the company posted ($2.03) earnings per share. On average, analysts expect that Micron Technology, Inc. will post 0.24 earnings per share for the current fiscal year.

Micron Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 16th. Investors of record on Monday, April 1st were issued a $0.115 dividend. The ex-dividend date of this dividend was Thursday, March 28th. This represents a $0.46 dividend on an annualized basis and a yield of 0.43%. Micron Technology’s dividend payout ratio is presently -13.33%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. Morgan Stanley boosted their price objective on Micron Technology from $78.00 to $98.00 and gave the company an “underweight” rating in a research report on Thursday, March 21st. Wedbush boosted their price objective on Micron Technology from $103.00 to $130.00 and gave the company an “outperform” rating in a research report on Thursday, March 21st. TD Cowen boosted their price objective on Micron Technology from $120.00 to $150.00 and gave the company an “outperform” rating in a research report on Thursday, March 21st. Cantor Fitzgerald boosted their price objective on Micron Technology from $135.00 to $150.00 and gave the company an “overweight” rating in a research report on Monday, April 8th. Finally, Argus raised Micron Technology from a “hold” rating to a “buy” rating and set a $140.00 price target on the stock in a research note on Thursday, March 21st. One research analyst has rated the stock with a sell rating, two have given a hold rating and twenty-four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $122.20.

Insiders Place Their Bets

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of the stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $119.30, for a total value of $583,377.00. Following the completion of the sale, the executive vice president now directly owns 148,817 shares in the company, valued at $17,753,868.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of the stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $119.30, for a total value of $583,377.00. Following the completion of the sale, the executive vice president now directly owns 148,817 shares in the company, valued at $17,753,868.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Sanjay Mehrotra sold 45,000 shares of the stock in a transaction dated Thursday, January 25th. The stock was sold at an average price of $90.00, for a total value of $4,050,000.00. Following the completion of the sale, the chief executive officer now owns 788,557 shares of the company’s stock, valued at $70,970,130. The disclosure for this sale can be found here. Insiders sold 313,890 shares of company stock worth $33,617,027 over the last ninety days. 0.32% of the stock is currently owned by corporate insiders.

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.