Tokio Marine Asset Management Co. Ltd. Grows Position in Micron Technology, Inc. (NASDAQ:MU)

Tokio Marine Asset Management Co. Ltd. boosted its stake in shares of Micron Technology, Inc. (NASDAQ:MU) by 4.8% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 30,857 shares of the semiconductor manufacturer’s stock after purchasing an additional 1,404 shares during the period. Tokio Marine Asset Management Co. Ltd.’s holdings in Micron Technology were worth $3,200,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the business. Hobbs Group Advisors LLC bought a new stake in shares of Micron Technology in the second quarter worth about $28,000. Highline Wealth Partners LLC purchased a new stake in shares of Micron Technology in the third quarter worth approximately $26,000. Richard W. Paul & Associates LLC increased its holdings in Micron Technology by 128.6% during the 2nd quarter. Richard W. Paul & Associates LLC now owns 256 shares of the semiconductor manufacturer’s stock worth $34,000 after purchasing an additional 144 shares during the period. LRI Investments LLC increased its holdings in Micron Technology by 57.2% during the 2nd quarter. LRI Investments LLC now owns 272 shares of the semiconductor manufacturer’s stock worth $36,000 after purchasing an additional 99 shares during the period. Finally, Davis Capital Management purchased a new position in Micron Technology during the 3rd quarter worth $30,000. 80.84% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on MU shares. TD Cowen lifted their price target on Micron Technology from $115.00 to $135.00 and gave the company a “buy” rating in a report on Thursday, September 26th. Raymond James lifted 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. UBS Group cut their price target on Micron Technology from $153.00 to $135.00 and set a “buy” rating on the stock in a report on Tuesday, September 17th. Morgan Stanley lifted their price target on Micron Technology from $100.00 to $114.00 and gave the company an “equal weight” rating in a report on Thursday, September 26th. Finally, Wedbush reiterated an “outperform” rating and issued a $140.00 price target on shares of Micron Technology in a report on Thursday, September 26th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and twenty-six have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $143.04.

Insider Activity at Micron Technology

In related news, EVP April S. Arnzen sold 4,890 shares of Micron Technology stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $113.00, for a total transaction of $552,570.00. Following the transaction, the executive vice president now owns 135,830 shares in the company, valued at approximately $15,348,790. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.32% of the company’s stock.

Micron Technology Trading Up 1.0 %

MU stock traded up $1.04 during midday trading on Thursday, hitting $100.96. The stock had a trading volume of 2,402,511 shares, compared to its average volume of 21,620,348. The firm has a market cap of $111.94 billion, a PE ratio of 146.94 and a beta of 1.18. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.64 and a quick ratio of 1.68. Micron Technology, Inc. has a 12-month low of $72.93 and a 12-month high of $157.54. The company’s 50-day moving average price is $100.93 and its 200 day moving average price is $112.94.

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

Micron Technology Announces Dividend

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

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.