KLP Kapitalforvaltning AS Takes Position in Micron Technology, Inc. (NASDAQ:MU)

KLP Kapitalforvaltning AS bought a new stake in Micron Technology, Inc. (NASDAQ:MU) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 375,705 shares of the semiconductor manufacturer’s stock, valued at approximately $31,656,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Micron Technology by 21.7% during 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 valued at $1,174,643,000 after acquiring an additional 2,022,180 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in Micron Technology during the 4th quarter valued at approximately $135,865,000. State Street Corp raised its stake in 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 during the last quarter. Worldquant Millennium Advisors LLC raised its stake in Micron Technology by 254.4% during the 3rd quarter. Worldquant Millennium Advisors LLC now owns 1,859,416 shares of the semiconductor manufacturer’s stock valued at $192,840,000 after acquiring an additional 1,334,690 shares during the last quarter. Finally, Bridgewater Associates LP purchased a new stake in Micron Technology during the 3rd quarter valued at approximately $102,018,000. 80.84% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Micron Technology

In other Micron Technology news, Director Mary Pat Mccarthy sold 2,404 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $92.93, for a total transaction of $223,403.72. Following the transaction, the director now owns 27,358 shares of the company’s stock, valued at $2,542,378.94. This represents a 8.08 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. 0.30% of the stock is owned by insiders.

Analyst Ratings Changes

Several analysts have commented on MU shares. Morgan Stanley upped their price objective on Micron Technology from $91.00 to $112.00 and gave the company an “equal weight” rating in a research note on Friday. Wedbush reiterated an “outperform” rating and set a $125.00 target price on shares of Micron Technology in a research report on Monday, March 17th. UBS Group boosted their target price on Micron Technology from $125.00 to $130.00 and gave the stock a “buy” rating in a research report on Monday, March 17th. JPMorgan Chase & Co. dropped their target price on Micron Technology from $145.00 to $135.00 and set an “overweight” rating on the stock in a research report on Friday. Finally, Sanford C. Bernstein dropped their target price on Micron Technology from $140.00 to $120.00 and set an “outperform” rating on the stock in a research report on Wednesday, December 18th. One research analyst has rated the stock with a sell rating, two have given a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $132.63.

Micron Technology Price Performance

Shares of NASDAQ:MU opened at $94.72 on Friday. The business’s fifty day moving average price is $96.82 and its two-hundred day moving average price is $98.28. The stock has a market cap of $105.53 billion, a PE ratio of 27.30 and a beta of 1.23. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.75 and a current ratio of 2.72. Micron Technology, Inc. has a one year low of $83.54 and a one year high of $157.54.

Micron Technology (NASDAQ:MU) last announced its earnings results 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 firm had revenue of $8.05 billion for the quarter, compared to analysts’ expectations of $7.93 billion. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. Micron Technology’s quarterly revenue was up 38.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.42 EPS. On average, analysts forecast that Micron Technology, Inc. will post 6.08 EPS for the current fiscal year.

Micron Technology Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be 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 is Monday, March 31st. Micron Technology’s dividend payout ratio (DPR) is presently 11.03%.

Micron Technology Company Profile

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.