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

Tokio Marine Asset Management Co. Ltd. raised its holdings in Micron Technology, Inc. (NASDAQ:MU) by 4.8% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 30,857 shares of the semiconductor manufacturer’s stock after acquiring an additional 1,404 shares during the quarter. Tokio Marine Asset Management Co. Ltd.’s holdings in Micron Technology were worth $3,200,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. TBH Global Asset Management LLC purchased a new stake in Micron Technology during the first quarter valued at about $296,000. Beacon Investment Advisory Services Inc. lifted its position in shares of Micron Technology by 2.6% in the first quarter. Beacon Investment Advisory Services Inc. now owns 5,081 shares of the semiconductor manufacturer’s stock worth $599,000 after purchasing an additional 130 shares in the last quarter. Nwam LLC lifted its position in shares of Micron Technology by 50.0% in the first quarter. Nwam LLC now owns 9,604 shares of the semiconductor manufacturer’s stock worth $1,144,000 after purchasing an additional 3,202 shares in the last quarter. Banco Santander S.A. lifted its position in shares of Micron Technology by 96.2% in the first quarter. Banco Santander S.A. now owns 94,799 shares of the semiconductor manufacturer’s stock worth $11,176,000 after purchasing an additional 46,488 shares in the last quarter. Finally, M&G Plc purchased a new stake in shares of Micron Technology in the first quarter worth approximately $15,172,000. 80.84% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. KeyCorp dropped their price objective on Micron Technology from $145.00 to $135.00 and set an “overweight” rating on the stock in a report on Tuesday, October 8th. Morgan Stanley increased their price objective on Micron Technology from $100.00 to $114.00 and gave the stock an “equal weight” rating in a report on Thursday, September 26th. Robert W. Baird dropped their price objective on Micron Technology from $172.00 to $150.00 and set an “outperform” rating on the stock in a report on Friday, September 27th. China Renaissance assumed coverage on Micron Technology in a report on Monday, October 28th. They issued a “buy” rating and a $148.00 price objective on the stock. Finally, Needham & Company LLC restated a “buy” rating and issued a $140.00 price objective 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 assigned a buy rating to the company. Based on data from MarketBeat.com, Micron Technology has an average rating of “Moderate Buy” and an average price target of $143.04.

Insider Activity

In related news, EVP April S. Arnzen sold 4,890 shares of the firm’s stock in a transaction that occurred on Thursday, September 26th. The stock was sold at an average price of $113.00, for a total transaction of $552,570.00. Following the completion of the transaction, the executive vice president now owns 135,830 shares of the company’s stock, valued at $15,348,790. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.32% of the stock is currently owned by company insiders.

Micron Technology Price Performance

NASDAQ MU traded up $1.04 during trading on Thursday, reaching $100.96. The company’s stock had a trading volume of 2,402,511 shares, compared to its average volume of 21,620,348. The stock has a market capitalization 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. The firm has a fifty day moving average of $100.93 and a 200 day moving average of $112.94. Micron Technology, Inc. has a one year low of $72.93 and a one year high of $157.54.

Micron Technology (NASDAQ:MU) last issued its earnings results on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 earnings per share for the quarter, beating the consensus estimate of $0.97 by $0.21. Micron Technology had a return on equity of 1.58% and a net margin of 3.10%. The company had revenue of $7.75 billion during the quarter, compared to analysts’ expectations of $7.65 billion. During the same period in the prior year, the business posted ($1.21) EPS. Micron Technology’s quarterly revenue was up 93.3% compared to the same quarter last year. Analysts expect that Micron Technology, Inc. will post 8.31 EPS for the current fiscal year.

Micron Technology Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 23rd. Stockholders of record on Monday, October 7th were paid a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.46%. The ex-dividend date was Monday, October 7th. Micron Technology’s payout ratio is presently 67.65%.

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.