Mivtachim The Workers Social Insurance Fund Ltd. Under Special Management Invests $21.36 Million in Micron Technology, Inc. (NASDAQ:MU)

Mivtachim The Workers Social Insurance Fund Ltd. Under Special Management bought a new stake in Micron Technology, Inc. (NASDAQ:MU) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 206,000 shares of the semiconductor manufacturer’s stock, valued at approximately $21,364,000. Micron Technology comprises about 2.9% of Mivtachim The Workers Social Insurance Fund Ltd. Under Special Management’s portfolio, making the stock its 12th biggest holding.

A number of other institutional investors have also recently added to or reduced their stakes in MU. Highline Wealth Partners LLC acquired a new position in shares of Micron Technology during the 3rd quarter valued at $26,000. Hobbs Group Advisors LLC purchased a new stake in shares of Micron Technology in the second quarter worth about $28,000. Davis Capital Management acquired a new stake in shares of Micron Technology in the third quarter valued at about $30,000. Richard W. Paul & Associates LLC raised its holdings in shares of Micron Technology by 128.6% during the 2nd quarter. Richard W. Paul & Associates LLC now owns 256 shares of the semiconductor manufacturer’s stock valued at $34,000 after buying an additional 144 shares during the period. Finally, DT Investment Partners LLC lifted its position in Micron Technology by 261.1% during the 3rd quarter. DT Investment Partners LLC now owns 325 shares of the semiconductor manufacturer’s stock worth $34,000 after acquiring an additional 235 shares in the last quarter. Hedge funds and other institutional investors own 80.84% of the company’s stock.

Micron Technology Stock Performance

NASDAQ MU traded down $1.51 during trading hours on Friday, hitting $111.90. The company had a trading volume of 13,045,721 shares, compared to its average volume of 17,080,670. The company has a quick ratio of 1.68, a current ratio of 2.64 and a debt-to-equity ratio of 0.29. The firm has a market cap of $124.07 billion, a P/E ratio of 164.56 and a beta of 1.18. Micron Technology, Inc. has a fifty-two week low of $72.93 and a fifty-two week high of $157.54. The business has a fifty day simple moving average of $100.16 and a 200-day simple moving average of $113.12.

Micron Technology (NASDAQ:MU) last released its quarterly earnings data on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 earnings per share for the quarter, topping analysts’ consensus estimates of $0.97 by $0.21. The business had revenue of $7.75 billion for the quarter, compared to analysts’ expectations of $7.65 billion. Micron Technology had a net margin of 3.10% and a return on equity of 1.58%. The company’s revenue for the quarter was up 93.3% compared to the same quarter last year. During the same quarter last year, the company earned ($1.21) EPS. Equities analysts predict that Micron Technology, Inc. will post 8.31 EPS for the current year.

Micron Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 23rd. Stockholders of record on Monday, October 7th were given a dividend of $0.115 per share. The ex-dividend date was Monday, October 7th. This represents a $0.46 annualized dividend and a dividend yield of 0.41%. Micron Technology’s dividend payout ratio is presently 67.65%.

Analyst Ratings Changes

A number of analysts have recently issued reports on MU shares. Wedbush reiterated an “outperform” rating and set a $140.00 price objective on shares of Micron Technology in a research note on Thursday, September 26th. KeyCorp dropped their price target on shares of Micron Technology from $145.00 to $135.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 8th. Stifel Nicolaus decreased their price objective on shares of Micron Technology from $165.00 to $135.00 and set a “buy” rating for the company in a research report on Thursday, September 19th. China Renaissance assumed coverage on Micron Technology in a research report on Monday, October 28th. They set a “buy” rating and a $148.00 target price on the stock. Finally, Raymond James increased their price target on Micron Technology from $125.00 to $140.00 and gave the company an “outperform” rating in a report on Thursday, September 26th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-six have assigned a buy rating to the company’s stock. According to MarketBeat, Micron Technology has a consensus rating of “Moderate Buy” and a consensus target price of $143.04.

Insider Buying and Selling

In related news, EVP April S. Arnzen sold 4,890 shares of the company’s stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $113.00, for a total value of $552,570.00. Following the completion of the sale, the executive vice president now owns 135,830 shares of the company’s stock, valued at $15,348,790. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 0.32% of the company’s stock.

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.