Schroder Investment Management Group Purchases 79,323 Shares of Micron Technology, Inc. (NASDAQ:MU)

Schroder Investment Management Group increased its position in Micron Technology, Inc. (NASDAQ:MU) by 16.3% in the 4th quarter, Holdings Channel reports. The firm owned 564,884 shares of the semiconductor manufacturer’s stock after buying an additional 79,323 shares during the quarter. Schroder Investment Management Group’s holdings in Micron Technology were worth $47,541,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of the business. True Wealth Design LLC raised its holdings in shares of Micron Technology by 1,096.3% in the 3rd quarter. True Wealth Design LLC now owns 323 shares of the semiconductor manufacturer’s stock worth $33,000 after buying an additional 296 shares in the last quarter. Beacon Capital Management LLC lifted its holdings in shares of Micron Technology by 114.9% during the fourth quarter. Beacon Capital Management LLC now owns 374 shares of the semiconductor manufacturer’s stock valued at $31,000 after acquiring an additional 200 shares during the period. Midwest Capital Advisors LLC acquired a new stake in shares of Micron Technology in the 4th quarter valued at $33,000. Comprehensive Financial Planning Inc. PA bought a new stake in shares of Micron Technology in the 4th quarter worth about $34,000. Finally, Curio Wealth LLC acquired a new stake in shares of Micron Technology during the 4th quarter worth about $34,000. Institutional investors and hedge funds own 80.84% of the company’s stock.

Insider Transactions at Micron Technology

In other news, Director Mary Pat Mccarthy sold 2,404 shares of the stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $92.93, for a total transaction of $223,403.72. Following the completion of the transaction, the director now directly owns 27,358 shares in the company, valued at $2,542,378.94. This represents a 8.08 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP April S. Arnzen sold 15,000 shares of Micron Technology stock in a transaction dated Tuesday, March 25th. The shares were sold at an average price of $96.18, for a total value of $1,442,700.00. Following the completion of the sale, the executive vice president now directly owns 164,769 shares in the company, valued at approximately $15,847,482.42. This represents a 8.34 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.30% of the company’s stock.

Micron Technology Stock Down 1.8 %

Shares of MU stock opened at $86.89 on Tuesday. Micron Technology, Inc. has a 12-month low of $83.54 and a 12-month high of $157.54. The company has a quick ratio of 1.75, a current ratio of 2.72 and a debt-to-equity ratio of 0.28. The firm has a fifty day moving average of $95.62 and a 200-day moving average of $98.51. The company has a market capitalization of $97.11 billion, a price-to-earnings ratio of 25.04 and a beta of 1.23.

Micron Technology (NASDAQ:MU) last released its earnings results on Thursday, March 20th. The semiconductor manufacturer reported $1.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.43 by $0.13. The firm had revenue of $8.05 billion during the quarter, compared to analysts’ expectations of $7.93 billion. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. The company’s revenue was up 38.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.42 EPS. As a group, equities research analysts predict that Micron Technology, Inc. will post 6.08 earnings per share for the current fiscal year.

Micron Technology Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be given a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a yield of 0.53%. The ex-dividend date is Monday, March 31st. Micron Technology’s dividend payout ratio (DPR) is currently 11.03%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on MU shares. Mizuho decreased their price objective on shares of Micron Technology from $135.00 to $115.00 and set an “outperform” rating on the stock in a research note on Thursday, December 19th. Citigroup decreased their price target on Micron Technology from $150.00 to $120.00 and set a “buy” rating on the stock in a research report on Friday, March 21st. Royal Bank of Canada set a $125.00 price objective on Micron Technology in a research report on Wednesday, March 19th. Wedbush restated an “outperform” rating and set a $125.00 target price on shares of Micron Technology in a report on Monday, March 17th. Finally, UBS Group lifted their price target on Micron Technology from $125.00 to $130.00 and gave the company a “buy” rating in a report on Monday, March 17th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $129.76.

About Micron Technology

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.