Achmea Investment Management BV acquires 26,809 shares of Micron Technology, Inc. (NASDAQ:MU)

Achmea Investment Management BV bought a new position in shares of Micron Technology, Inc. (NASDAQ:MU – Free Report) in the second quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 26,809 shares of the semiconductor manufacturer’s stock, valued at approximately $3,526,000.

A number of other hedge funds and other institutional investors have recently made changes to their positions in MU. Avantax Advisory Services Inc. raised its position in shares of Micron Technology by 5.7% during the 4th quarter. Avantax Advisory Services Inc. now owns 25,192 shares of the semiconductor maker’s stock worth $2,150,000 after purchasing an additional 1,362 shares during the last quarter. Janney Montgomery Scott LLC boosted its holdings in shares of Micron Technology by 10.1% during the fourth quarter. Janney Montgomery Scott LLC now owns 101,073 shares of the semiconductor maker’s stock worth $8,626,000 after purchasing an additional 9,289 shares in the last quarter. Foundations Investment Advisors LLC lifted its position in shares of Micron Technology by 10.6% in the fourth quarter. Foundations Investment Advisors LLC now owns 5,109 shares of the semiconductor maker’s stock valued at $437,000 after acquiring an additional 488 shares in the last quarter. Quadrant Capital Group LLC boosted its stake in shares of Micron Technology by 5.4% in the fourth quarter. Quadrant Capital Group LLC now owns 9,291 shares of the semiconductor maker’s stock worth $793,000 after acquiring an additional 472 shares during the last quarter. Finally, Sound View Wealth Advisors Group LLC purchased a new stake in shares of Micron Technology during the fourth quarter valued at approximately $229,000. Hedge funds and other institutional investors own 80.84% ​​of the company’s shares.

Analysts on Wall Street are forecasting an increase

MU has been the subject of a number of research reports. UBS Group cut their price objective on Micron Technology from $155.00 to $153.00 and set a “buy” rating on the stock in a report on Thursday, June 27th. Goldman Sachs Group upped their target price on shares of Micron Technology from $138.00 to $158.00 and gave the stock a “buy” rating in a research note on Thursday, June 27th. BNP Paribas lowered shares of Micron Technology from an “outperform” rating to an “underperform” rating and dropped their price objective for the company from $140.00 to $67.00 in a research note on Thursday. Wedbush reiterated an “outperform” rating and issued a $170.00 price objective on shares of Micron Technology in a report on Thursday, June 27th. Finally, JPMorgan Chase & Co. upped their target price on Micron Technology from $130.00 to $180.00 and gave the stock an “overweight” rating in a report on Thursday, June 27th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-five have assigned a buy rating to the stock. Micron Technology currently has an average rating of “Moderate Buy” and a consensus price target of $152.31, according to MarketBeat.com.

Read Micron Technology’s latest stock report

Insider activity at Micron Technology

In other news, CEO Sanjay Mehrotra sold 34,284 shares of the company’s stock in a transaction dated Tuesday, June 18th. The shares were sold at an average price of $152.28, for a total transaction of $5,220,767.52. Following the sale, the chief executive officer now owns 719,049 shares of the company’s stock, valued at $109,496,781.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed via this hyperlink. In related news, EVP April S. Arnzen sold 4,890 shares of Micron Technology stock in a transaction that occurred on Thursday, June 27th. The shares were sold at an average price of $135.86, for a total value of $664,355.40. Following the completion of the transaction, the executive vice president now owns 142,321 shares in the company, valued at $19,335,731.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed via this hyperlink. Also, CEO Sanjay Mehrotra sold 34,284 shares of the company’s stock in a transaction that occurred on Tuesday, June 18th. The shares were sold at an average price of $152.28, for a total transaction of $5,220,767.52. Following the transaction, the chief executive officer now owns 719,049 shares of the company’s stock, valued at approximately $109,496,781.72. The disclosure for this sale can be found here. Company insiders own 0.32% of the company’s shares.

Micron Technology stocks rose 4.6%

Shares of Micron Technology stock opened at $91.22 on Friday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 2.16, and a current ratio of 3.41. The firm has a 50-day moving average price of $104.18 and a 200-day moving average price of $114.69. Micron Technology, Inc. it has a fifty-two week low of $63.83 and a fifty-two week high of $157.54. The company has a market cap of $101.15 billion, a PE ratio of -64.24 and a beta of 1.17.

Micron Technology (NASDAQ:MU – Get Free Report ) last issued its quarterly earnings data on Wednesday, June 26th. The semiconductor maker reported $0.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.14. Micron Technology had a negative return on equity of 4.01% and a negative net margin of 7.20%. The firm had revenue of $6.81 billion for the quarter, compared to the consensus estimate of $6.67 billion. In the same quarter last year, the business earned ($1.57) EPS. The company’s quarterly revenue was up 81.5% compared to the same quarter last year. Research analysts expect that Micron Technology, Inc. to post 0.61 earnings per share for the current year.

Micron Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 23rd. Stockholders of record on Monday, July 8th were given a dividend of $0.115 per share. The ex-dividend date of this dividend was Monday, July 8th. This represents an annualized dividend of $0.46 and a dividend yield of 0.50%. Micron Technology’s dividend payout ratio is currently -32.39%.

Micron Technology Company Profile

(Free Report)

Micron Technology, Inc designs, develops, manufactures and sells memory and storage products worldwide. The company operates through four segments: Computing and Networking Business Unit, Mobile Business Unit, Embedded Business Unit and Storage Business Unit. It offers memory and storage technologies comprising low-latency dynamic random access memory semiconductor devices that provide high-speed data retrieval; non-volatile and rewritable semiconductor storage devices; and nonvolatile rewritable semiconductor memory devices that offer fast read speeds under the Micron and Crucial brands, as well as through private label.

Further reading

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