TCW Group Inc. Raises Stock Position in Micron Technology, Inc. (NASDAQ:MU)

TCW Group Inc. lifted its stake in shares of Micron Technology, Inc. (NASDAQ:MU) by 5.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 531,637 shares of the semiconductor manufacturer’s stock after acquiring an additional 28,649 shares during the quarter. TCW Group Inc.’s holdings in Micron Technology were worth $45,383,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. SageView Advisory Group LLC purchased a new stake in shares of Micron Technology during the fourth quarter worth about $587,000. Cambridge Investment Research Advisors Inc. increased its stake in shares of Micron Technology by 2.3% during the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 136,458 shares of the semiconductor manufacturer’s stock worth $11,645,000 after purchasing an additional 3,046 shares in the last quarter. Tidemark LLC acquired a new position in Micron Technology during the fourth quarter worth about $25,000. Alpha Family Trust acquired a new position in Micron Technology during the fourth quarter worth about $535,000. Finally, EverSource Wealth Advisors LLC boosted its position in Micron Technology by 12.2% during the fourth quarter. EverSource Wealth Advisors LLC now owns 3,889 shares of the semiconductor manufacturer’s stock worth $332,000 after acquiring an additional 424 shares during the last quarter. 80.84% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the stock. Citigroup reiterated a “buy” rating and issued a $150.00 target price on shares of Micron Technology in a report on Thursday, April 4th. Barclays upped their price objective on shares of Micron Technology from $120.00 to $145.00 and gave the stock an “overweight” rating in a report on Monday, May 13th. UBS Group upped their price objective on shares of Micron Technology from $95.00 to $120.00 and gave the stock a “buy” rating in a report on Tuesday, March 19th. Mizuho upped their price objective on shares of Micron Technology from $130.00 to $150.00 and gave the stock a “buy” rating in a report on Friday, May 17th. Finally, StockNews.com upgraded shares of Micron Technology from a “sell” rating to a “hold” rating in a report on Friday, March 22nd. Two research analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the stock. Based on data from MarketBeat, Micron Technology currently has a consensus rating of “Moderate Buy” and an average price target of $126.92.

Insider Buying and Selling at Micron Technology

In related news, EVP Manish H. Bhatia sold 53,317 shares of the firm’s stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $119.18, for a total transaction of $6,354,320.06. Following the transaction, the executive vice president now owns 319,119 shares of the company’s stock, valued at $38,032,602.42. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Micron Technology news, CEO Sanjay Mehrotra sold 45,000 shares of Micron Technology stock in a transaction on Thursday, April 4th. The shares were sold at an average price of $130.00, for a total transaction of $5,850,000.00. Following the sale, the chief executive officer now owns 728,557 shares in the company, valued at $94,712,410. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Manish H. Bhatia sold 53,317 shares of Micron Technology stock in a transaction on Monday, May 6th. The stock was sold at an average price of $119.18, for a total transaction of $6,354,320.06. Following the sale, the executive vice president now owns 319,119 shares in the company, valued at approximately $38,032,602.42. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 410,446 shares of company stock valued at $47,304,703. 0.32% of the stock is currently owned by corporate insiders.

Micron Technology Trading Down 0.0 %

Shares of NASDAQ MU traded down $0.01 during midday trading on Thursday, reaching $126.27. 20,267,032 shares of the stock were exchanged, compared to its average volume of 19,546,086. The company has a market capitalization of $139.83 billion, a P/E ratio of -37.17 and a beta of 1.27. Micron Technology, Inc. has a 52-week low of $60.50 and a 52-week high of $131.95. The company has a current ratio of 3.74, a quick ratio of 2.40 and a debt-to-equity ratio of 0.30. The stock has a 50 day moving average price of $116.63 and a 200-day moving average price of $94.91.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings results on Wednesday, March 20th. The semiconductor manufacturer reported $0.42 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.69. Micron Technology had a negative net margin of 20.57% and a negative return on equity of 8.98%. The firm had revenue of $5.82 billion for the quarter, compared to analysts’ expectations of $5.35 billion. During the same period in the previous year, the company posted ($2.03) earnings per share. Micron Technology’s revenue was up 57.7% compared to the same quarter last year. Equities research analysts expect that Micron Technology, Inc. will post 0.24 earnings per share for the current fiscal year.

Micron Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 16th. Shareholders of record on Monday, April 1st were paid a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a yield of 0.36%. The ex-dividend date of this dividend was Thursday, March 28th. Micron Technology’s dividend payout ratio is presently -13.33%.

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.