Mizuho Securities USA LLC Boosts Holdings in Micron Technology, Inc. (NASDAQ:MU)

Mizuho Securities USA LLC raised its holdings in shares of Micron Technology, Inc. (NASDAQ:MU) by 464.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 481,993 shares of the semiconductor manufacturer’s stock after buying an additional 396,609 shares during the period. Mizuho Securities USA LLC’s holdings in Micron Technology were worth $49,987,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Capital World Investors boosted its holdings in shares of Micron Technology by 6.6% during the 1st quarter. Capital World Investors now owns 22,748,381 shares of the semiconductor manufacturer’s stock valued at $2,681,807,000 after buying an additional 1,400,154 shares in the last quarter. Capital International Investors lifted 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 valued at $2,157,800,000 after acquiring an additional 2,397,885 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in Micron Technology by 22.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 18,243,633 shares of the semiconductor manufacturer’s stock worth $2,150,743,000 after buying an additional 3,315,988 shares in the last quarter. Van ECK Associates Corp grew its stake in shares of Micron Technology by 30.6% in the third quarter. Van ECK Associates Corp now owns 10,564,198 shares of the semiconductor manufacturer’s stock worth $1,109,769,000 after acquiring an additional 2,477,985 shares during the period. Finally, Boston Partners raised its stake in Micron Technology by 1.4% during the 1st quarter. Boston Partners now owns 4,536,283 shares of the semiconductor manufacturer’s stock valued at $534,189,000 after buying an additional 61,127 shares during the last quarter. 80.84% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

MU has been the topic of several recent research reports. KeyCorp decreased their price target on shares of Micron Technology from $145.00 to $135.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 8th. China Renaissance began coverage on Micron Technology in a report on Monday, October 28th. They issued a “buy” rating and a $148.00 target price on the stock. Stifel Nicolaus cut their price target on Micron Technology from $165.00 to $135.00 and set a “buy” rating for the company in a report on Thursday, September 19th. Morgan Stanley upped their price target on Micron Technology from $100.00 to $114.00 and gave the stock an “equal weight” rating in a research report on Thursday, September 26th. Finally, Susquehanna lowered their price target on shares of Micron Technology from $175.00 to $165.00 and set a “positive” rating on the stock in a report on Thursday, September 26th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-six have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $143.04.

Micron Technology Stock Performance

Shares of NASDAQ:MU opened at $96.34 on Friday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.68 and a current ratio of 2.64. The firm has a market cap of $106.82 billion, a PE ratio of 141.68 and a beta of 1.18. The firm’s 50 day simple moving average is $101.33 and its 200-day simple moving average is $112.72. Micron Technology, Inc. has a one year low of $72.93 and a one year high of $157.54.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings results on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 EPS for the quarter, beating the consensus estimate of $0.97 by $0.21. Micron Technology had a return on equity of 1.58% and a net margin of 3.10%. The firm had revenue of $7.75 billion for the quarter, compared to analyst estimates of $7.65 billion. During the same quarter last year, the firm posted ($1.21) earnings per share. The business’s revenue for the quarter was up 93.3% on a year-over-year basis. As a group, equities analysts predict that Micron Technology, Inc. will post 8.31 EPS for the current year.

Micron Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 23rd. Investors of record on Monday, October 7th were paid a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.48%. The ex-dividend date of this dividend was Monday, October 7th. Micron Technology’s dividend payout ratio (DPR) is currently 67.65%.

Insider Activity at Micron Technology

In other news, EVP April S. Arnzen sold 4,890 shares of the company’s stock in a transaction on Thursday, September 26th. The stock was sold at an average price of $113.00, for a total transaction of $552,570.00. Following the transaction, the executive vice president now directly owns 135,830 shares of the company’s stock, valued at approximately $15,348,790. This represents a 3.47 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.32% of the stock is owned by corporate insiders.

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.