Micron Technology, Inc. (NASDAQ:MU) Shares Bought by E Fund Management Co. Ltd.

E Fund Management Co. Ltd. raised its holdings in shares of Micron Technology, Inc. (NASDAQ:MU) by 20.9% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 36,771 shares of the semiconductor manufacturer’s stock after purchasing an additional 6,348 shares during the quarter. E Fund Management Co. Ltd.’s holdings in Micron Technology were worth $3,138,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in MU. Stratos Wealth Partners LTD. boosted its stake in Micron Technology by 10.2% in the 3rd quarter. Stratos Wealth Partners LTD. now owns 14,636 shares of the semiconductor manufacturer’s stock worth $996,000 after purchasing an additional 1,355 shares during the period. Brown Advisory Inc. lifted its stake in Micron Technology by 32.3% in the 3rd quarter. Brown Advisory Inc. now owns 99,448 shares of the semiconductor manufacturer’s stock worth $6,765,000 after acquiring an additional 24,277 shares in the last quarter. Lindbrook Capital LLC boosted its position in Micron Technology by 12.2% during the 3rd quarter. Lindbrook Capital LLC now owns 4,150 shares of the semiconductor manufacturer’s stock worth $282,000 after acquiring an additional 451 shares during the period. Strs Ohio grew its stake in Micron Technology by 7.2% during the 3rd quarter. Strs Ohio now owns 679,200 shares of the semiconductor manufacturer’s stock valued at $46,205,000 after acquiring an additional 45,439 shares in the last quarter. Finally, IFM Investors Pty Ltd increased its holdings in shares of Micron Technology by 1.5% in the 3rd quarter. IFM Investors Pty Ltd now owns 221,295 shares of the semiconductor manufacturer’s stock valued at $15,055,000 after purchasing an additional 3,312 shares during the period. Institutional investors and hedge funds own 80.84% of the company’s stock.

Micron Technology Trading Down 1.3 %

Shares of NASDAQ:MU traded down $1.51 during midday trading on Thursday, hitting $117.81. The company had a trading volume of 10,150,255 shares, compared to its average volume of 19,984,332. Micron Technology, Inc. has a 12 month low of $59.79 and a 12 month high of $130.54. The firm has a fifty day simple moving average of $110.70 and a 200 day simple moving average of $90.90. The company has a current ratio of 3.74, a quick ratio of 2.40 and a debt-to-equity ratio of 0.30. The stock has a market cap of $130.06 billion, a price-to-earnings ratio of -34.15 and a beta of 1.27.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings results on Wednesday, March 20th. The semiconductor manufacturer reported $0.42 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.69. Micron Technology had a negative net margin of 20.57% and a negative return on equity of 8.98%. The business had revenue of $5.82 billion for the quarter, compared to the consensus estimate of $5.35 billion. During the same period last year, the company posted ($2.03) EPS. Micron Technology’s revenue for the quarter was up 57.7% on a year-over-year basis. On average, analysts predict that Micron Technology, Inc. will post 0.24 EPS for the current year.

Micron Technology Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 16th. Shareholders of record on Monday, April 1st were paid a $0.115 dividend. The ex-dividend date was Thursday, March 28th. This represents a $0.46 dividend on an annualized basis and a yield of 0.39%. Micron Technology’s payout ratio is -13.33%.

Analyst Ratings Changes

MU has been the topic of a number of research analyst reports. JPMorgan Chase & Co. boosted their price objective on shares of Micron Technology from $105.00 to $130.00 and gave the company an “overweight” rating in a research report on Thursday, March 21st. Mizuho increased their price objective on Micron Technology from $105.00 to $124.00 and gave the stock a “buy” rating in a report on Thursday, March 21st. Needham & Company LLC boosted their target price on Micron Technology from $100.00 to $120.00 and gave the company a “buy” rating in a research note on Thursday, March 21st. Stifel Nicolaus reaffirmed a “buy” rating and set a $140.00 price target on shares of Micron Technology in a research note on Friday, April 12th. Finally, Barclays lifted their price target on Micron Technology from $95.00 to $120.00 and gave the company an “overweight” rating in a report on Monday, March 18th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and twenty-five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $123.60.

Insiders Place Their Bets

In related news, EVP April S. Arnzen sold 4,890 shares of the business’s stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $119.30, for a total value of $583,377.00. Following the sale, the executive vice president now directly owns 148,817 shares of the company’s stock, valued at approximately $17,753,868.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, EVP Manish H. Bhatia sold 53,317 shares of the stock in a transaction on Monday, May 6th. The shares were sold at an average price of $119.18, for a total transaction of $6,354,320.06. Following the completion of the transaction, the executive vice president now owns 319,119 shares in the company, valued at $38,032,602.42. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP April S. Arnzen sold 4,890 shares of the firm’s stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $119.30, for a total transaction of $583,377.00. Following the completion of the transaction, the executive vice president now directly owns 148,817 shares of the company’s stock, valued at approximately $17,753,868.10. The disclosure for this sale can be found here. Insiders sold 370,207 shares of company stock worth $41,839,707 over the last ninety days. 0.32% of the stock is currently owned by corporate insiders.

About Micron Technology

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.