AssuredPartners Investment Advisors LLC Makes New Investment in Micron Technology, Inc. (NASDAQ:MU)

AssuredPartners Investment Advisors LLC bought a new position in shares of Micron Technology, Inc. (NASDAQ:MU) during the 4th quarter, Holdings Channel reports. The fund bought 30,873 shares of the semiconductor manufacturer’s stock, valued at approximately $2,598,000.

A number of other institutional investors and hedge funds have also made changes to their positions in MU. NEOS Investment Management LLC grew its holdings in shares of Micron Technology by 25.0% in the 4th quarter. NEOS Investment Management LLC now owns 140,358 shares of the semiconductor manufacturer’s stock worth $11,813,000 after acquiring an additional 28,108 shares during the period. BIT Capital GmbH grew its holdings in Micron Technology by 1.3% in the fourth quarter. BIT Capital GmbH now owns 442,508 shares of the semiconductor manufacturer’s stock valued at $37,241,000 after purchasing an additional 5,853 shares during the last quarter. UniSuper Management Pty Ltd grew its holdings in Micron Technology by 6.4% in the fourth quarter. UniSuper Management Pty Ltd now owns 207,919 shares of the semiconductor manufacturer’s stock valued at $17,498,000 after purchasing an additional 12,436 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in shares of Micron Technology by 9.0% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,882,423 shares of the semiconductor manufacturer’s stock valued at $169,173,000 after buying an additional 155,326 shares in the last quarter. Finally, Blue Grotto Capital LLC acquired a new position in shares of Micron Technology during the 4th quarter worth $12,923,000. 80.84% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Micron Technology

In other news, Director Mary Pat Mccarthy sold 2,404 shares of the stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $92.93, for a total value of $223,403.72. Following the completion of the sale, the director now owns 27,358 shares of the company’s stock, valued at $2,542,378.94. This represents a 8.08 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.30% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

MU has been the subject of several recent research reports. Needham & Company LLC dropped their target price on shares of Micron Technology from $140.00 to $120.00 and set a “buy” rating for the company in a report on Thursday, December 19th. Robert W. Baird lifted their price objective on Micron Technology from $130.00 to $163.00 and gave the stock an “outperform” rating in a research report on Friday, March 21st. Bank of America lowered Micron Technology from a “buy” rating to a “neutral” rating and reduced their target price for the company from $125.00 to $110.00 in a research note on Thursday, December 19th. KGI Securities raised Micron Technology to a “strong-buy” rating in a report on Friday, February 21st. Finally, China Renaissance downgraded Micron Technology from a “buy” rating to a “hold” rating and set a $84.00 price objective on the stock. in a research report on Wednesday. One research analyst has rated the stock with a sell rating, three have issued a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $129.96.

Micron Technology Stock Down 2.2 %

Shares of NASDAQ MU opened at $92.13 on Thursday. The company has a quick ratio of 1.75, a current ratio of 2.72 and a debt-to-equity ratio of 0.28. The stock has a market capitalization of $102.65 billion, a PE ratio of 26.55 and a beta of 1.23. The firm has a fifty day moving average of $96.58 and a 200-day moving average of $98.41. Micron Technology, Inc. has a 52-week low of $83.54 and a 52-week high of $157.54.

Micron Technology (NASDAQ:MU) last posted its quarterly earnings results on Thursday, March 20th. The semiconductor manufacturer reported $1.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.43 by $0.13. The firm had revenue of $8.05 billion during the quarter, compared to the consensus estimate of $7.93 billion. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. The firm’s quarterly revenue was up 38.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.42 earnings per share. On average, analysts anticipate that Micron Technology, Inc. will post 6.08 EPS for the current year.

Micron Technology Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be issued a $0.115 dividend. The ex-dividend date is Monday, March 31st. This represents a $0.46 annualized dividend and a yield of 0.50%. Micron Technology’s payout ratio is 11.03%.

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.