Jones Financial Companies Lllp Has $2.93 Million Stock Position in Micron Technology, Inc. (NASDAQ:MU)

Jones Financial Companies Lllp increased its holdings in Micron Technology, Inc. (NASDAQ:MU) by 85.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 34,794 shares of the semiconductor manufacturer’s stock after acquiring an additional 16,008 shares during the period. Jones Financial Companies Lllp’s holdings in Micron Technology were worth $2,928,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. State Street Corp grew its holdings in shares of Micron Technology by 3.1% during the 3rd quarter. State Street Corp now owns 48,226,710 shares of the semiconductor manufacturer’s stock valued at $5,001,592,000 after acquiring an additional 1,434,568 shares in the last quarter. Primecap Management Co. CA boosted its position in Micron Technology by 0.6% during the third quarter. Primecap Management Co. CA now owns 37,631,860 shares of the semiconductor manufacturer’s stock valued at $3,902,800,000 after purchasing an additional 206,499 shares during the last quarter. Geode Capital Management LLC grew its stake in Micron Technology by 3.9% in the third quarter. Geode Capital Management LLC now owns 23,723,545 shares of the semiconductor manufacturer’s stock valued at $2,451,987,000 after purchasing an additional 892,607 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Micron Technology by 21.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 11,326,224 shares of the semiconductor manufacturer’s stock worth $1,174,643,000 after purchasing an additional 2,022,180 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its stake in shares of Micron Technology by 1.5% during the 4th quarter. Bank of New York Mellon Corp now owns 9,956,311 shares of the semiconductor manufacturer’s stock worth $837,923,000 after purchasing an additional 144,897 shares in the last quarter. 80.84% of the stock is currently owned by institutional investors and hedge funds.

Micron Technology Price Performance

Shares of NASDAQ:MU opened at $94.34 on Thursday. The firm has a market capitalization of $105.11 billion, a PE ratio of 27.19 and a beta of 1.18. The company has a current ratio of 2.72, a quick ratio of 1.75 and a debt-to-equity ratio of 0.28. Micron Technology, Inc. has a 1-year low of $83.54 and a 1-year high of $157.54. The business’s 50 day moving average is $95.91 and its 200-day moving average is $98.60.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings results on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.60 by $0.19. The firm had revenue of $8.71 billion for the quarter, compared to analyst estimates of $8.71 billion. Micron Technology had a net margin of 13.34% and a return on equity of 8.32%. The business’s revenue for the quarter was up 84.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.95) EPS. Sell-side analysts predict that Micron Technology, Inc. will post 6.08 earnings per share for the current year.

Micron Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Monday, December 30th were issued a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a yield of 0.49%. The ex-dividend date was Monday, December 30th. Micron Technology’s payout ratio is 13.26%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on MU shares. Stifel Nicolaus lowered their price target on Micron Technology from $135.00 to $130.00 and set a “buy” rating for the company in a research note on Thursday, December 19th. Rosenblatt Securities restated a “buy” rating and set a $250.00 price target on shares of Micron Technology in a research note on Wednesday, December 18th. Wedbush restated an “outperform” rating and set a $140.00 price target on shares of Micron Technology in a report on Tuesday, December 17th. Barclays decreased their price objective on shares of Micron Technology from $145.00 to $110.00 and set an “overweight” rating for the company in a report on Friday, December 20th. Finally, Robert W. Baird cut their target price on Micron Technology from $150.00 to $130.00 and set an “outperform” rating on the stock in a report on Thursday, December 19th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $134.96.

Insider Buying and Selling at Micron Technology

In other news, Director Mary Pat Mccarthy sold 2,404 shares of the firm’s stock in a transaction that occurred on 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 sale, the director now owns 27,358 shares of the company’s stock, valued at approximately $2,542,378.94. This trade represents a 8.08 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP April S. Arnzen sold 4,890 shares of the business’s stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $85.21, for a total value of $416,676.90. Following the completion of the transaction, the executive vice president now directly owns 181,223 shares in the company, valued at $15,442,011.83. The trade was a 2.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.30% 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.