Rakuten Securities Inc. Buys Shares of 11,091 Micron Technology, Inc. (NASDAQ:MU)

Rakuten Securities Inc. bought a new stake in Micron Technology, Inc. (NASDAQ:MU) in the 4th quarter, HoldingsChannel reports. The fund bought 11,091 shares of the semiconductor manufacturer’s stock, valued at approximately $947,000. Micron Technology comprises approximately 0.7% of Rakuten Securities Inc.’s portfolio, making the stock its 25th biggest position.

Other institutional investors also recently bought and sold shares of the company. First Interstate Bank acquired a new stake in shares of Micron Technology during the fourth quarter worth $213,000. Wealth Alliance grew its holdings in shares of Micron Technology by 4.8% during the fourth quarter. Wealth Alliance now owns 3,908 shares of the semiconductor manufacturer’s stock valued at $334,000 after buying an additional 179 shares during the last quarter. Riverstone Advisors LLC purchased a new stake in shares of Micron Technology during the fourth quarter valued at $225,000. Imprint Wealth LLC purchased a new stake in shares of Micron Technology during the fourth quarter valued at $211,000. Finally, SVB Wealth LLC grew its holdings in shares of Micron Technology by 9.1% during the fourth quarter. SVB Wealth LLC now owns 17,726 shares of the semiconductor manufacturer’s stock valued at $1,513,000 after buying an additional 1,473 shares during the last quarter. 80.84% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Micron Technology

In other Micron Technology news, CEO Sanjay Mehrotra sold 45,000 shares of the stock in a transaction dated Thursday, January 25th. The shares were sold at an average price of $90.00, for a total value of $4,050,000.00. Following the completion of the sale, the chief executive officer now owns 788,557 shares in the company, valued at approximately $70,970,130. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, EVP April S. Arnzen sold 4,890 shares of the stock in a transaction that occurred on Wednesday, March 27th. The shares were sold at an average price of $119.30, for a total value of $583,377.00. Following the completion of the sale, the executive vice president now owns 148,817 shares of the company’s stock, valued at approximately $17,753,868.10. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Sanjay Mehrotra sold 45,000 shares of the stock in a transaction that occurred on Thursday, January 25th. The shares were sold at an average price of $90.00, for a total transaction of $4,050,000.00. Following the completion of the sale, the chief executive officer now directly owns 788,557 shares of the company’s stock, valued at approximately $70,970,130. The disclosure for this sale can be found here. In the last quarter, insiders sold 306,890 shares of company stock worth $32,772,127. Insiders own 0.32% of the company’s stock.

Micron Technology Price Performance

MU stock traded down $4.66 during mid-day trading on Wednesday, reaching $117.11. The company’s stock had a trading volume of 12,617,557 shares, compared to its average volume of 20,117,500. The stock has a market cap of $129.68 billion, a PE ratio of -34.90 and a beta of 1.27. The company has a current ratio of 3.74, a quick ratio of 2.40 and a debt-to-equity ratio of 0.30. Micron Technology, Inc. has a fifty-two week low of $58.03 and a fifty-two week high of $130.54. The company’s 50 day moving average is $101.36 and its two-hundred day moving average is $86.01.

Micron Technology (NASDAQ:MU) last released its quarterly earnings data on Wednesday, March 20th. The semiconductor manufacturer reported $0.42 EPS for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.69. The company had revenue of $5.82 billion during the quarter, compared to the consensus estimate of $5.35 billion. Micron Technology had a negative net margin of 20.57% and a negative return on equity of 8.98%. Micron Technology’s quarterly revenue was up 57.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($2.03) EPS. Equities research analysts expect that Micron Technology, Inc. will post 0.24 EPS for the current year.

Micron Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 16th. Shareholders of record on Monday, April 1st were issued a $0.115 dividend. The ex-dividend date was Thursday, March 28th. This represents a $0.46 dividend on an annualized basis and a yield of 0.39%. Micron Technology’s payout ratio is -13.33%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on MU shares. Bank of America boosted their price objective on shares of Micron Technology from $120.00 to $144.00 and gave the company a “buy” rating in a report on Monday, April 1st. Raymond James upped their price target on shares of Micron Technology from $90.00 to $100.00 and gave the company an “outperform” rating in a report on Friday, January 19th. Robert W. Baird upped their price target on shares of Micron Technology from $78.00 to $115.00 and gave the company a “neutral” rating in a report on Tuesday, March 19th. Wedbush upped their price target on shares of Micron Technology from $103.00 to $130.00 and gave the company an “outperform” rating in a report on Thursday, March 21st. Finally, StockNews.com raised shares of Micron Technology from a “sell” rating to a “hold” rating in a report on Friday, March 22nd. One research analyst has rated the stock with a sell rating, two have given a hold rating and twenty-four have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $122.20.

Micron Technology 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.