Micron Technology, Inc. (NASDAQ:MU) Shares Bought by Tokio Marine Asset Management Co. Ltd.

Tokio Marine Asset Management Co. Ltd. increased its holdings in Micron Technology, Inc. (NASDAQ:MU) by 3.7% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 31,994 shares of the semiconductor manufacturer’s stock after buying an additional 1,137 shares during the period. Tokio Marine Asset Management Co. Ltd.’s holdings in Micron Technology were worth $2,693,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of MU. Highline Wealth Partners LLC acquired a new position in shares of Micron Technology during the third quarter valued at $26,000. True Wealth Design LLC increased its stake in shares of Micron Technology by 1,096.3% in the third quarter. True Wealth Design LLC now owns 323 shares of the semiconductor manufacturer’s stock valued at $33,000 after purchasing an additional 296 shares during the period. DT Investment Partners LLC raised its holdings in shares of Micron Technology by 261.1% during the third quarter. DT Investment Partners LLC now owns 325 shares of the semiconductor manufacturer’s stock valued at $34,000 after buying an additional 235 shares during the last quarter. Stone House Investment Management LLC boosted its position in shares of Micron Technology by 602.2% during the third quarter. Stone House Investment Management LLC now owns 323 shares of the semiconductor manufacturer’s stock worth $34,000 after buying an additional 277 shares during the period. Finally, Darwin Wealth Management LLC acquired a new position in shares of Micron Technology during the third quarter worth approximately $39,000. Institutional investors own 80.84% of the company’s stock.

Micron Technology Price Performance

MU opened at $91.24 on Monday. The firm has a market capitalization of $101.66 billion, a P/E ratio of 26.29 and a beta of 1.18. The stock has a fifty day moving average of $97.43 and a 200-day moving average of $99.88. The company has a quick ratio of 1.75, a current ratio of 2.72 and a debt-to-equity ratio of 0.28. Micron Technology, Inc. has a 12-month low of $79.15 and a 12-month high of $157.54.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings data on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.60 by $0.19. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. The firm had revenue of $8.71 billion during the quarter, compared to the consensus estimate of $8.71 billion. During the same period in the prior year, the business earned ($0.95) EPS. The business’s revenue for the quarter was up 84.3% on a year-over-year basis. Equities analysts forecast that Micron Technology, Inc. will post 6.29 EPS for the current fiscal year.

Micron Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Monday, December 30th were paid a $0.115 dividend. The ex-dividend date was Monday, December 30th. This represents a $0.46 annualized dividend and a yield of 0.50%. Micron Technology’s dividend payout ratio is presently 13.26%.

Insider Buying and Selling at Micron Technology

In other news, EVP April S. Arnzen sold 4,890 shares of the company’s stock in a transaction on Friday, December 20th. The shares were sold at an average price of $85.21, for a total value of $416,676.90. Following the transaction, the executive vice president now directly owns 181,223 shares of the company’s stock, valued at approximately $15,442,011.83. This represents a 2.63 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.30% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on MU shares. Robert W. Baird cut their target price on Micron Technology from $150.00 to $130.00 and set an “outperform” rating on the stock in a research note on Thursday, December 19th. TD Cowen cut their price objective on shares of Micron Technology from $135.00 to $125.00 and set a “buy” rating on the stock in a research note on Thursday, December 19th. Sanford C. Bernstein decreased their target price on shares of Micron Technology from $140.00 to $120.00 and set an “outperform” rating for the company in a research report on Wednesday, December 18th. Wedbush restated an “outperform” rating and set a $140.00 price target on shares of Micron Technology in a research report on Tuesday, December 17th. Finally, Stifel Nicolaus decreased their price objective on shares of Micron Technology from $135.00 to $130.00 and set a “buy” rating for the company in a report on Thursday, December 19th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $134.96.

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.