Micron Technology, Inc. (NASDAQ:MU) Stock Position Lifted by Erste Asset Management GmbH

Erste Asset Management GmbH boosted its position in shares of Micron Technology, Inc. (NASDAQ:MU) by 5.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 123,576 shares of the semiconductor manufacturer’s stock after purchasing an additional 6,013 shares during the period. Erste Asset Management GmbH’s holdings in Micron Technology were worth $10,953,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Achmea Investment Management B.V. acquired a new stake in shares of Micron Technology in the 4th quarter valued at $3,783,000. Vestcor Inc increased its position in Micron Technology by 7.9% during the fourth quarter. Vestcor Inc now owns 50,293 shares of the semiconductor manufacturer’s stock worth $4,233,000 after buying an additional 3,694 shares during the last quarter. Great Lakes Advisors LLC raised its holdings in Micron Technology by 3.1% during the fourth quarter. Great Lakes Advisors LLC now owns 858,908 shares of the semiconductor manufacturer’s stock valued at $72,286,000 after buying an additional 25,455 shares in the last quarter. Farther Finance Advisors LLC lifted its position in shares of Micron Technology by 117.1% in the fourth quarter. Farther Finance Advisors LLC now owns 13,947 shares of the semiconductor manufacturer’s stock worth $1,174,000 after buying an additional 7,524 shares during the last quarter. Finally, Sequoia Financial Advisors LLC lifted its holdings in Micron Technology by 5.7% in the 4th quarter. Sequoia Financial Advisors LLC now owns 38,040 shares of the semiconductor manufacturer’s stock worth $3,201,000 after purchasing an additional 2,041 shares during the last quarter. Hedge funds and other institutional investors own 80.84% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on MU shares. Mizuho lowered their price target on Micron Technology from $135.00 to $115.00 and set an “outperform” rating on the stock in a research report on Thursday, December 19th. Robert W. Baird cut their price target on Micron Technology from $150.00 to $130.00 and set an “outperform” rating for the company in a report on Thursday, December 19th. Wedbush reissued an “outperform” rating and issued a $140.00 price objective on shares of Micron Technology in a research report on Tuesday, December 17th. Sanford C. Bernstein dropped their target price on shares of Micron Technology from $140.00 to $120.00 and set an “outperform” rating on the stock in a research report on Wednesday, December 18th. Finally, The Goldman Sachs Group decreased their price target on shares of Micron Technology from $145.00 to $128.00 and set a “buy” rating on the stock in a research report on Thursday, December 19th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $134.56.

Micron Technology Trading Down 0.8 %

MU opened at $94.88 on Friday. The firm’s fifty day moving average is $96.50 and its two-hundred day moving average is $98.04. The firm has a market cap of $105.71 billion, a PE ratio of 27.34 and a beta of 1.23. Micron Technology, Inc. has a twelve month low of $83.54 and a twelve month high of $157.54. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.75 and a current ratio of 2.72.

Micron Technology (NASDAQ:MU) last issued its quarterly earnings data on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 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 business had revenue of $8.71 billion for the quarter, compared to the consensus estimate of $8.71 billion. During the same quarter last year, the business posted ($0.95) EPS. The firm’s revenue was up 84.3% compared to the same quarter last year. Equities research analysts anticipate that Micron Technology, Inc. will post 6.08 EPS for the current year.

Micron Technology Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Monday, December 30th were issued a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a yield of 0.48%. The ex-dividend date of this dividend was Monday, December 30th. Micron Technology’s dividend payout ratio (DPR) is presently 13.26%.

Insider Buying and Selling at Micron Technology

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of the 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 completion of the sale, the executive vice president now owns 181,223 shares in the company, valued at $15,442,011.83. This trade represents a 2.63 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Mary Pat Mccarthy sold 2,404 shares of Micron Technology stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $92.93, for a total transaction of $223,403.72. Following the completion of the transaction, the director now directly owns 27,358 shares of the company’s stock, valued at approximately $2,542,378.94. This trade represents a 8.08 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.30% of the company’s stock.

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.