Tybourne Capital Management HK Ltd. Buys 9,992 Shares of Micron Technology, Inc. (NASDAQ:MU)

Tybourne Capital Management HK Ltd. raised its position in Micron Technology, Inc. (NASDAQ:MU) by 62.9% during the third quarter, according to its most recent 13F filing with the SEC. The fund owned 25,884 shares of the semiconductor manufacturer’s stock after buying an additional 9,992 shares during the period. Micron Technology comprises approximately 0.8% of Tybourne Capital Management HK Ltd.’s holdings, making the stock its 16th largest holding. Tybourne Capital Management HK Ltd.’s holdings in Micron Technology were worth $2,684,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in MU. Lazard Freres Gestion S.A.S. raised its stake in shares of Micron Technology by 241.7% during the third quarter. Lazard Freres Gestion S.A.S. now owns 41,000 shares of the semiconductor manufacturer’s stock worth $4,252,000 after buying an additional 29,000 shares during the last quarter. Chartwell Investment Partners LLC grew its holdings in Micron Technology by 26.4% during the 3rd quarter. Chartwell Investment Partners LLC now owns 195,115 shares of the semiconductor manufacturer’s stock worth $20,236,000 after acquiring an additional 40,802 shares during the period. Global X Japan Co. Ltd. raised its position in shares of Micron Technology by 23.1% during the 3rd quarter. Global X Japan Co. Ltd. now owns 51,832 shares of the semiconductor manufacturer’s stock valued at $5,375,000 after acquiring an additional 9,735 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Micron Technology by 1.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 6,721,126 shares of the semiconductor manufacturer’s stock valued at $697,048,000 after purchasing an additional 65,591 shares during the period. Finally, River Road Asset Management LLC boosted its position in shares of Micron Technology by 9.1% in the 3rd quarter. River Road Asset Management LLC now owns 163,272 shares of the semiconductor manufacturer’s stock worth $16,933,000 after purchasing an additional 13,573 shares during the last quarter. 80.84% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other 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 value of $552,570.00. Following the completion of the sale, the executive vice president now directly owns 135,830 shares of the company’s stock, valued at $15,348,790. This trade represents a 3.47 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders own 0.32% of the company’s stock.

Analyst Ratings Changes

MU has been the subject of a number of recent analyst reports. Wells Fargo & Company dropped their price objective on Micron Technology from $190.00 to $175.00 and set an “overweight” rating for the company in a report on Wednesday, September 18th. Morgan Stanley increased their price target on shares of Micron Technology from $100.00 to $114.00 and gave the company an “equal weight” rating in a research report on Thursday, September 26th. China Renaissance began coverage on shares of Micron Technology in a report on Monday, October 28th. They set a “buy” rating and a $148.00 price objective for the company. Stifel Nicolaus cut their target price on shares of Micron Technology from $165.00 to $135.00 and set a “buy” rating on the stock in a report on Thursday, September 19th. Finally, KeyCorp reduced their price target on shares of Micron Technology from $145.00 to $135.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 8th. One analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-six have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $143.04.

Micron Technology Trading Down 3.5 %

Shares of NASDAQ:MU opened at $98.20 on Thursday. The company’s 50-day moving average price is $103.28 and its two-hundred day moving average price is $111.80. Micron Technology, Inc. has a one year low of $72.93 and a one year high of $157.54. 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 stock has a market capitalization of $108.88 billion, a PE ratio of 144.41 and a beta of 1.18.

Micron Technology (NASDAQ:MU) last released its earnings results on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.97 by $0.21. The business had revenue of $7.75 billion for the quarter, compared to analyst estimates of $7.65 billion. Micron Technology had a return on equity of 1.58% and a net margin of 3.10%. Micron Technology’s revenue was up 93.3% on a year-over-year basis. During the same quarter in the prior year, the company posted ($1.21) earnings per share. On average, equities analysts forecast 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. 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 dividend on an annualized basis and a yield of 0.47%. Micron Technology’s payout ratio is 67.65%.

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.