Micron Technology, Inc. (NASDAQ:MU) Shares Acquired by Janus Henderson Group PLC

Janus Henderson Group PLC grew its holdings in Micron Technology, Inc. (NASDAQ:MU) by 74.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,646,936 shares of the semiconductor manufacturer’s stock after buying an additional 1,130,680 shares during the quarter. Janus Henderson Group PLC’s holdings in Micron Technology were worth $222,779,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of MU. Beacon Capital Management LLC lifted its holdings in shares of Micron Technology by 114.9% in the 4th quarter. Beacon Capital Management LLC now owns 374 shares of the semiconductor manufacturer’s stock valued at $31,000 after buying an additional 200 shares during the period. Midwest Capital Advisors LLC purchased a new position in Micron Technology in the 4th quarter valued at approximately $33,000. Activest Wealth Management increased its stake in Micron Technology by 583.3% in the 4th quarter. Activest Wealth Management now owns 410 shares of the semiconductor manufacturer’s stock valued at $34,000 after purchasing an additional 350 shares in the last quarter. Comprehensive Financial Planning Inc. PA purchased a new position in Micron Technology in the 4th quarter valued at approximately $34,000. Finally, Curio Wealth LLC purchased a new position in Micron Technology in the 4th quarter valued at approximately $34,000. 80.84% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently weighed in on MU. China Renaissance downgraded Micron Technology from a “buy” rating to a “hold” rating and set a $84.00 price objective for the company. in a research note on Wednesday, March 26th. Wedbush reaffirmed an “underperform” rating on shares of Micron Technology in a research note on Monday, April 28th. Citigroup dropped their price objective on Micron Technology from $120.00 to $110.00 and set a “buy” rating for the company in a research note on Friday, April 11th. Rosenblatt Securities dropped their price objective on Micron Technology from $250.00 to $200.00 and set a “buy” rating for the company in a research note on Friday, March 21st. Finally, Barclays dropped their price target on Micron Technology from $115.00 to $95.00 and set an “overweight” rating for the company in a research report on Tuesday, April 22nd. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $126.48.

Insider Activity at Micron Technology

In other Micron Technology news, Director Mary Pat Mccarthy sold 2,404 shares of the business’s stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $80.00, for a total transaction of $192,320.00. Following the transaction, the director now owns 24,954 shares in the company, valued at $1,996,320. The trade was a 8.79% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP April S. Arnzen sold 15,000 shares of the business’s stock in a transaction dated Tuesday, March 25th. The stock was sold at an average price of $96.18, for a total value of $1,442,700.00. Following the transaction, the executive vice president now 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. Over the last 90 days, insiders have sold 19,808 shares of company stock worth $1,858,424. 0.30% of the stock is owned by insiders.

Micron Technology Price Performance

Shares of NASDAQ:MU opened at $85.86 on Monday. The company has a market cap of $95.95 billion, a P/E ratio of 24.74 and a beta of 1.21. The company has a quick ratio of 1.75, a current ratio of 2.72 and a debt-to-equity ratio of 0.28. Micron Technology, Inc. has a 52 week low of $61.54 and a 52 week high of $157.54. The business has a fifty day simple moving average of $82.62 and a 200-day simple moving average of $92.89.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings data on Thursday, March 20th. The semiconductor manufacturer reported $1.56 EPS for the quarter, beating analysts’ consensus estimates of $1.43 by $0.13. The business had revenue of $8.05 billion during the quarter, compared to the consensus estimate of $7.93 billion. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. The business’s revenue for the quarter was up 38.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.42 earnings per share. Equities research analysts forecast that Micron Technology, Inc. will post 6.08 EPS for the current year.

Micron Technology Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were issued a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a yield of 0.54%. The ex-dividend date of this dividend was Monday, March 31st. Micron Technology’s payout ratio is currently 11.03%.

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.