AEGON ASSET MANAGEMENT UK Plc Purchases 5,188 Shares of Micron Technology, Inc. (NASDAQ:MU)

AEGON ASSET MANAGEMENT UK Plc boosted its holdings in Micron Technology, Inc. (NASDAQ:MU) by 1.2% during the 4th quarter, HoldingsChannel.com reports. The fund owned 439,749 shares of the semiconductor manufacturer’s stock after buying an additional 5,188 shares during the period. AEGON ASSET MANAGEMENT UK Plc’s holdings in Micron Technology were worth $37,009,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in MU. AQR Capital Management LLC raised its holdings in shares of Micron Technology by 360.7% during the second quarter. AQR Capital Management LLC now owns 467,026 shares of the semiconductor manufacturer’s stock valued at $61,428,000 after purchasing an additional 365,647 shares during the last quarter. APG Asset Management N.V. grew its position in Micron Technology by 12.6% in the 2nd quarter. APG Asset Management N.V. now owns 783,544 shares of the semiconductor manufacturer’s stock worth $96,160,000 after purchasing an additional 87,485 shares during the period. Deerfield Management Company L.P. Series C raised its stake in Micron Technology by 78.9% during the 2nd quarter. Deerfield Management Company L.P. Series C now owns 6,793 shares of the semiconductor manufacturer’s stock valued at $893,000 after buying an additional 2,996 shares during the last quarter. MBB Public Markets I LLC lifted its holdings in shares of Micron Technology by 12.4% during the 2nd quarter. MBB Public Markets I LLC now owns 417,731 shares of the semiconductor manufacturer’s stock valued at $54,944,000 after buying an additional 46,156 shares during the period. Finally, Maverick Capital Ltd. boosted its stake in shares of Micron Technology by 3,471.0% in the 2nd quarter. Maverick Capital Ltd. now owns 638,639 shares of the semiconductor manufacturer’s stock worth $84,000,000 after buying an additional 620,755 shares during the last quarter. 80.84% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

MU has been the subject of several research analyst reports. Sanford C. Bernstein cut their price objective on Micron Technology from $140.00 to $120.00 and set an “outperform” rating for the company in a report on Wednesday, December 18th. Cantor Fitzgerald cut their price target on Micron Technology from $150.00 to $130.00 and set an “overweight” rating for the company in a research note on Thursday, December 19th. Mizuho lowered their price objective on shares of Micron Technology from $135.00 to $115.00 and set an “outperform” rating on the stock in a research note on Thursday, December 19th. Wells Fargo & Company cut their target price on shares of Micron Technology from $175.00 to $140.00 and set an “overweight” rating for the company in a research report on Thursday, December 19th. Finally, Needham & Company LLC reduced their target price on shares of Micron Technology from $140.00 to $120.00 and set a “buy” rating for the company in a report on Thursday, December 19th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and twenty-three have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $135.24.

Insider Buying and Selling

In other news, EVP April S. Arnzen sold 4,890 shares of the company’s stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $85.21, for a total transaction of $416,676.90. Following the sale, the executive vice president now directly owns 181,223 shares in the company, valued at approximately $15,442,011.83. This represents a 2.63 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.30% of the stock is owned by company insiders.

Micron Technology Trading Down 1.6 %

Shares of MU opened at $103.19 on Friday. The firm has a market cap of $114.97 billion, a P/E ratio of 29.74 and a beta of 1.18. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.72 and a quick ratio of 1.75. Micron Technology, Inc. has a 1 year low of $79.15 and a 1 year high of $157.54. The company has a 50 day simple moving average of $98.36 and a two-hundred day simple moving average of $101.53.

Micron Technology (NASDAQ:MU) last posted its earnings results on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 earnings per share for the quarter, beating the consensus estimate of $1.60 by $0.19. The company had revenue of $8.71 billion during the quarter, compared to analysts’ expectations of $8.71 billion. Micron Technology had a net margin of 13.34% and a return on equity of 8.32%. Micron Technology’s quarterly revenue was up 84.3% on a year-over-year basis. During the same period last year, the company posted ($0.95) earnings per share. On average, equities analysts expect that Micron Technology, Inc. will post 6.29 earnings per share for the current fiscal year.

Micron Technology Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Monday, December 30th were issued a $0.115 dividend. The ex-dividend date of this dividend was Monday, December 30th. This represents a $0.46 annualized dividend and a dividend yield of 0.45%. Micron Technology’s dividend payout ratio (DPR) is 13.26%.

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.