Mizuho Securities USA LLC Has $8.84 Million Position in Micron Technology, Inc. (NASDAQ:MU)

Mizuho Securities USA LLC grew its holdings in Micron Technology, Inc. (NASDAQ:MU) by 46.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 105,084 shares of the semiconductor manufacturer’s stock after purchasing an additional 33,182 shares during the quarter. Mizuho Securities USA LLC’s holdings in Micron Technology were worth $8,844,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Harmony Asset Management LLC raised its position in shares of Micron Technology by 75.6% during the third quarter. Harmony Asset Management LLC now owns 11,889 shares of the semiconductor manufacturer’s stock worth $1,233,000 after acquiring an additional 5,120 shares during the last quarter. Lazard Freres Gestion S.A.S. raised its position in shares of Micron Technology by 241.7% during the third quarter. Lazard Freres Gestion S.A.S. now owns 41,000 shares of the semiconductor manufacturer’s stock worth $4,252,000 after acquiring an additional 29,000 shares during the last quarter. E Fund Management Co. Ltd. raised its position in shares of Micron Technology by 31.8% during the fourth quarter. E Fund Management Co. Ltd. now owns 36,378 shares of the semiconductor manufacturer’s stock worth $3,062,000 after acquiring an additional 8,780 shares during the last quarter. Stablepoint Partners LLC bought a new stake in shares of Micron Technology during the fourth quarter worth $569,000. Finally, State Street Corp raised its position in shares of Micron Technology by 3.1% during the third quarter. State Street Corp now owns 48,226,710 shares of the semiconductor manufacturer’s stock worth $5,001,592,000 after acquiring an additional 1,434,568 shares during the last quarter. Institutional investors and hedge funds own 80.84% of the company’s stock.

Insider Activity at Micron Technology

In related news, Director Mary Pat Mccarthy sold 2,404 shares of the stock in a transaction that occurred 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 completion of the transaction, the director now directly owns 27,358 shares of the company’s stock, valued at approximately $2,542,378.94. This represents a 8.08 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.30% of the company’s stock.

Micron Technology Stock Down 8.0 %

MU stock opened at $94.72 on Friday. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.72 and a quick ratio of 1.75. The stock has a market capitalization of $105.53 billion, a P/E ratio of 27.30 and a beta of 1.23. The business has a 50-day moving average of $96.82 and a 200-day moving average of $98.21. Micron Technology, Inc. has a fifty-two week low of $83.54 and a fifty-two week high of $157.54.

Micron Technology (NASDAQ:MU) last posted its quarterly earnings data on Thursday, March 20th. The semiconductor manufacturer reported $1.56 earnings per share for the quarter, topping the consensus estimate of $1.43 by $0.13. The company had revenue of $8.05 billion during 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 revenue for the quarter was up 38.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.42 earnings per share. On average, sell-side analysts anticipate that Micron Technology, Inc. will post 6.08 earnings per share for the current fiscal year.

Micron Technology Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be given a dividend of $0.115 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.46 annualized dividend and a yield of 0.49%. Micron Technology’s dividend payout ratio (DPR) is presently 13.26%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on MU. Mizuho dropped their target price on Micron Technology from $135.00 to $115.00 and set an “outperform” rating for the company in a research report on Thursday, December 19th. Morgan Stanley boosted their target price on Micron Technology from $91.00 to $112.00 and gave the stock an “equal weight” rating in a research report on Friday. KGI Securities upgraded Micron Technology to a “strong-buy” rating in a report on Friday, February 21st. Citigroup dropped their price objective on Micron Technology from $150.00 to $120.00 and set a “buy” rating for the company in a report on Friday. Finally, Stifel Nicolaus dropped their price objective on Micron Technology from $135.00 to $130.00 and set a “buy” rating for the company in a report on Thursday, December 19th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Micron Technology has an average rating of “Moderate Buy” and an average target price of $132.63.

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.