Prudential PLC Has $10.15 Million Stock Position in Micron Technology, Inc. (NASDAQ:MU)

Prudential PLC cut its stake in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 22.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 116,785 shares of the semiconductor manufacturer's stock after selling 33,804 shares during the quarter. Prudential PLC's holdings in Micron Technology were worth $10,147,000 as of its most recent filing with the Securities & Exchange Commission.

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Other institutional investors and hedge funds have also recently modified their holdings of the company. Duquesne Family Office LLC purchased a new stake in shares of Micron Technology in the fourth quarter worth approximately $34,412,000. Janus Henderson Group PLC grew its holdings in shares of Micron Technology by 74.6% in the fourth quarter. Janus Henderson Group PLC now owns 2,646,936 shares of the semiconductor manufacturer's stock valued at $222,779,000 after acquiring an additional 1,130,680 shares in the last quarter. Mission Wealth Management LP grew its holdings in shares of Micron Technology by 195.2% in the first quarter. Mission Wealth Management LP now owns 15,650 shares of the semiconductor manufacturer's stock valued at $1,360,000 after acquiring an additional 10,348 shares in the last quarter. Centre Asset Management LLC bought a new position in shares of Micron Technology in the first quarter valued at approximately $7,720,000. Finally, ProShare Advisors LLC grew its holdings in shares of Micron Technology by 16.9% in the fourth quarter. ProShare Advisors LLC now owns 1,650,957 shares of the semiconductor manufacturer's stock valued at $138,945,000 after acquiring an additional 238,687 shares in the last quarter. 80.84% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Steven J. Gomo sold 7,000 shares of the stock in a transaction on Friday, June 27th. The stock was sold at an average price of $125.15, for a total value of $876,050.00. Following the sale, the director owned 22,762 shares in the company, valued at approximately $2,848,664.30. This trade represents a 23.52% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Mary Pat Mccarthy sold 2,404 shares of the firm's stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $121.28, for a total value of $291,557.12. Following the sale, the director owned 22,550 shares in the company, valued at $2,734,864. The trade was a 9.63% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 286,042 shares of company stock valued at $34,679,277 in the last ninety days. 0.30% of the stock is owned by insiders.

Micron Technology Trading Up 3.3%

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Shares of MU stock opened at $127.75 on Wednesday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.89 and a current ratio of 2.75. Micron Technology, Inc. has a 52-week low of $61.54 and a 52-week high of $129.85. The company has a market capitalization of $142.97 billion, a PE ratio of 23.02 and a beta of 1.37. The business's fifty day moving average is $116.97 and its 200 day moving average is $98.42.

Micron Technology (NASDAQ:MU - Get Free Report) last issued its quarterly earnings data on Wednesday, June 25th. The semiconductor manufacturer reported $1.91 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.57 by $0.34. Micron Technology had a return on equity of 13.60% and a net margin of 18.41%. The company had revenue of $9.30 billion for the quarter, compared to the consensus estimate of $8.83 billion. During the same quarter last year, the business posted $0.62 earnings per share. On average, equities research analysts anticipate that Micron Technology, Inc. will post 6.08 EPS for the current fiscal year.

Micron Technology Dividend Announcement

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The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 22nd. Investors of record on Monday, July 7th were given a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date was Monday, July 7th. Micron Technology's dividend payout ratio (DPR) is 8.29%.

Analyst Upgrades and Downgrades

MU has been the subject of several recent analyst reports. Cantor Fitzgerald upped their target price on Micron Technology from $145.00 to $155.00 and gave the company an "overweight" rating in a report on Thursday, June 26th. UBS Group upped their target price on Micron Technology from $120.00 to $155.00 and gave the company a "buy" rating in a report on Thursday, June 26th. Robert W. Baird upped their target price on Micron Technology from $163.00 to $200.00 and gave the company an "outperform" rating in a report on Friday, June 27th. Rosenblatt Securities upped their target price on Micron Technology from $172.00 to $200.00 and gave the company a "buy" rating in a report on Monday, June 23rd. Finally, Arete Research raised Micron Technology to a "strong-buy" rating in a report on Friday, July 18th. One analyst has rated the stock with a sell rating, five have issued a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $147.24.

View Our Latest Report on MU

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.

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