208,327 Shares in Micron Technology, Inc. (NASDAQ:MU) Purchased by Generate Investment Management Ltd

Generate Investment Management Ltd bought a new position in Micron Technology, Inc. (NASDAQ:MU) in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 208,327 shares of the semiconductor manufacturer’s stock, valued at approximately $21,606,000. Micron Technology comprises approximately 1.4% of Generate Investment Management Ltd’s holdings, making the stock its 24th largest holding.

Several other hedge funds and other institutional investors have also recently made changes to their positions in MU. Vanguard Group Inc. increased its holdings in Micron Technology by 1.8% in the 1st quarter. Vanguard Group Inc. now owns 96,666,590 shares of the semiconductor manufacturer’s stock worth $11,396,024,000 after buying an additional 1,681,815 shares in the last quarter. Capital World Investors boosted its holdings in Micron Technology by 6.6% in the first quarter. Capital World Investors now owns 22,748,381 shares of the semiconductor manufacturer’s stock worth $2,681,807,000 after purchasing an additional 1,400,154 shares during the last quarter. Capital International Investors grew its position in Micron Technology by 15.1% in the 1st quarter. Capital International Investors now owns 18,303,506 shares of the semiconductor manufacturer’s stock worth $2,157,800,000 after purchasing an additional 2,397,885 shares during the period. Price T Rowe Associates Inc. MD raised its stake in 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 valued at $2,150,743,000 after buying an additional 3,315,988 shares during the last quarter. Finally, Van ECK Associates Corp lifted its holdings in shares of Micron Technology by 6.9% during the 2nd quarter. Van ECK Associates Corp now owns 8,086,213 shares of the semiconductor manufacturer’s stock valued at $1,063,580,000 after buying an additional 519,641 shares during the period. Institutional investors own 80.84% of the company’s stock.

Analyst Ratings Changes

MU has been the subject of several research analyst reports. BNP Paribas lowered Micron Technology from an “outperform” rating to an “underperform” rating and cut their price objective for the stock from $140.00 to $67.00 in a report on Thursday, September 12th. TD Cowen upped their price target on shares of Micron Technology from $115.00 to $135.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. Piper Sandler raised their price objective on shares of Micron Technology from $130.00 to $150.00 and gave the stock an “overweight” rating in a report on Thursday, June 27th. Raymond James increased their price target on shares of Micron Technology from $125.00 to $140.00 and gave the stock an “outperform” rating in a research report on Thursday, September 26th. Finally, Susquehanna cut their price objective on shares of Micron Technology from $175.00 to $165.00 and set a “positive” rating for the company in a research report on Thursday, September 26th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-five have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $142.85.

Micron Technology Trading Down 0.8 %

Shares of Micron Technology stock opened at $111.15 on Friday. The company has a quick ratio of 1.68, a current ratio of 2.64 and a debt-to-equity ratio of 0.29. The firm has a market cap of $123.25 billion, a price-to-earnings ratio of -78.27 and a beta of 1.18. Micron Technology, Inc. has a twelve month low of $63.88 and a twelve month high of $157.54. The business has a 50-day moving average price of $98.64 and a 200-day moving average price of $114.54.

Micron Technology (NASDAQ:MU) last released its quarterly earnings results 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. The business had revenue of $7.75 billion during the quarter, compared to analysts’ expectations of $7.65 billion. Micron Technology had a return on equity of 1.58% and a net margin of 3.10%. The firm’s revenue for the quarter was up 93.3% compared to the same quarter last year. During the same quarter last year, the business posted ($1.21) EPS. Equities research analysts anticipate that Micron Technology, Inc. will post 8.31 EPS for the current fiscal year.

Micron Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 23rd. Shareholders of record on Monday, October 7th will be given a dividend of $0.115 per share. The ex-dividend date is Monday, October 7th. This represents a $0.46 annualized dividend and a yield of 0.41%. Micron Technology’s dividend payout ratio (DPR) is currently -32.39%.

Insiders Place Their Bets

In other news, EVP April S. Arnzen sold 4,890 shares of the firm’s stock in a transaction that occurred on Thursday, September 26th. The stock was sold at an average price of $113.00, for a total value of $552,570.00. Following the completion of the sale, the executive vice president now directly owns 135,830 shares of the company’s stock, valued at $15,348,790. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.32% of the company’s stock.

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.