Knights of Columbus Asset Advisors LLC Raises Holdings in Micron Technology, Inc. $MU

Knights of Columbus Asset Advisors LLC increased its position in shares of Micron Technology, Inc. (NASDAQ:MUFree Report) by 12.6% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 32,792 shares of the semiconductor manufacturer’s stock after purchasing an additional 3,664 shares during the quarter. Knights of Columbus Asset Advisors LLC’s holdings in Micron Technology were worth $9,359,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of Micron Technology by 1.9% during the fourth quarter. Vanguard Group Inc. now owns 106,608,094 shares of the semiconductor manufacturer’s stock worth $30,427,016,000 after purchasing an additional 1,954,644 shares in the last quarter. State Street Corp increased its position in shares of Micron Technology by 0.6% during the third quarter. State Street Corp now owns 51,659,173 shares of the semiconductor manufacturer’s stock worth $8,643,613,000 after purchasing an additional 285,582 shares in the last quarter. Capital International Investors increased its position in shares of Micron Technology by 0.7% during the third quarter. Capital International Investors now owns 23,372,821 shares of the semiconductor manufacturer’s stock worth $3,910,198,000 after purchasing an additional 155,860 shares in the last quarter. Invesco Ltd. increased its position in shares of Micron Technology by 8.0% during the third quarter. Invesco Ltd. now owns 9,622,166 shares of the semiconductor manufacturer’s stock worth $1,609,981,000 after purchasing an additional 708,716 shares in the last quarter. Finally, Legal & General Group Plc increased its position in shares of Micron Technology by 1.9% during the third quarter. Legal & General Group Plc now owns 7,275,842 shares of the semiconductor manufacturer’s stock worth $1,217,394,000 after purchasing an additional 135,850 shares in the last quarter. 80.84% of the stock is currently owned by hedge funds and other institutional investors.

Micron Technology Stock Performance

NASDAQ MU opened at $895.88 on Wednesday. The stock has a market cap of $1.01 trillion, a PE ratio of 42.30 and a beta of 1.91. The company has a current ratio of 2.90, a quick ratio of 2.32 and a debt-to-equity ratio of 0.13. Micron Technology, Inc. has a twelve month low of $92.22 and a twelve month high of $916.80. The stock has a fifty day simple moving average of $528.34 and a 200-day simple moving average of $397.68.

Micron Technology (NASDAQ:MUGet Free Report) last announced its quarterly earnings data on Wednesday, March 18th. The semiconductor manufacturer reported $12.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $9.19 by $3.01. The business had revenue of $23.86 billion during the quarter, compared to analysts’ expectations of $19.97 billion. Micron Technology had a return on equity of 41.16% and a net margin of 41.49%.The business’s quarterly revenue was up 196 compared to the same quarter last year. During the same quarter last year, the business posted $1.56 EPS. Equities analysts anticipate that Micron Technology, Inc. will post 57.82 earnings per share for the current year.

Micron Technology Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 15th. Stockholders of record on Monday, March 30th were paid a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 0.1%. The ex-dividend date was Monday, March 30th. This is a boost from Micron Technology’s previous quarterly dividend of $0.12. Micron Technology’s dividend payout ratio (DPR) is 2.83%.

Insider Buying and Selling

In other news, Director Steven J. Gomo sold 2,000 shares of Micron Technology stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $787.03, for a total value of $1,574,060.00. Following the completion of the transaction, the director owned 17,139 shares in the company, valued at approximately $13,488,907.17. This trade represents a 10.45% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Sumit Sadana sold 24,000 shares of Micron Technology stock in a transaction dated Friday, April 10th. The shares were sold at an average price of $421.35, for a total value of $10,112,400.00. Following the completion of the transaction, the executive vice president owned 224,021 shares of the company’s stock, valued at $94,391,248.35. The trade was a 9.68% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 106,000 shares of company stock worth $47,032,460. 0.24% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on MU. Melius Research began coverage on Micron Technology in a report on Monday, April 27th. They set a “buy” rating and a $700.00 price target on the stock. The Goldman Sachs Group lifted their price target on Micron Technology from $360.00 to $400.00 and gave the stock a “neutral” rating in a report on Thursday, March 19th. Needham & Company LLC lifted their price target on Micron Technology from $450.00 to $500.00 and gave the stock a “buy” rating in a report on Thursday, March 19th. Rosenblatt Securities reissued a “buy” rating and issued a $500.00 price target on shares of Micron Technology in a research note on Monday, March 16th. Finally, UBS Group upgraded shares of Micron Technology from a “buy” rating to a “neutral” rating in a report on Tuesday. Five investment analysts have rated the stock with a Strong Buy rating, thirty have assigned a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $571.47.

Check Out Our Latest Stock Analysis on MU

More Micron Technology News

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Micron Technology Company Profile

(Free Report)

Micron Technology, Inc is a global semiconductor company that designs and manufactures memory and storage solutions. Its product portfolio includes dynamic random-access memory (DRAM), NAND flash memory, solid-state drives (SSDs), memory modules and embedded memory solutions for a wide range of computing and electronic devices. Micron supplies components used in data centers, enterprise and cloud infrastructure, client computing, mobile devices, automotive systems and industrial applications, and also markets consumer-facing products under the Crucial brand.

Founded in 1978 and headquartered in Boise, Idaho, Micron has grown into an international manufacturer with research, development and production facilities across multiple regions.

Further Reading

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Institutional Ownership by Quarter for Micron Technology (NASDAQ:MU)

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