Augustine Asset Management Inc. Purchases 8,794 Shares of Micron Technology, Inc. (NASDAQ:MU)

Augustine Asset Management Inc. raised its holdings in shares of Micron Technology, Inc. (NASDAQ:MU) by 97.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 17,822 shares of the semiconductor manufacturer’s stock after buying an additional 8,794 shares during the quarter. Augustine Asset Management Inc.’s holdings in Micron Technology were worth $1,500,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. State Street Corp lifted its holdings in shares of Micron Technology by 3.1% during the 3rd quarter. State Street Corp now owns 48,226,710 shares of the semiconductor manufacturer’s stock worth $5,001,592,000 after acquiring an additional 1,434,568 shares during the period. Primecap Management Co. CA grew its position in Micron Technology by 0.6% during the 3rd quarter. Primecap Management Co. CA now owns 37,631,860 shares of the semiconductor manufacturer’s stock worth $3,902,800,000 after acquiring an additional 206,499 shares during the last quarter. Geode Capital Management LLC raised its position in Micron Technology by 3.9% in the 3rd quarter. Geode Capital Management LLC now owns 23,723,545 shares of the semiconductor manufacturer’s stock valued at $2,451,987,000 after purchasing an additional 892,607 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Micron Technology by 21.7% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 11,326,224 shares of the semiconductor manufacturer’s stock worth $1,174,643,000 after purchasing an additional 2,022,180 shares in the last quarter. Finally, Van ECK Associates Corp grew its holdings in shares of Micron Technology by 30.6% during the third quarter. Van ECK Associates Corp now owns 10,564,198 shares of the semiconductor manufacturer’s stock worth $1,109,769,000 after purchasing an additional 2,477,985 shares during the last quarter. 80.84% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Micron Technology

In other news, EVP April S. Arnzen sold 4,890 shares of Micron Technology stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $85.21, for a total value of $416,676.90. Following the completion of the transaction, the executive vice president now owns 181,223 shares of the company’s stock, valued at $15,442,011.83. This trade represents a 2.63 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.30% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on MU shares. Barclays decreased their price objective on shares of Micron Technology from $145.00 to $110.00 and set an “overweight” rating on the stock in a report on Friday, December 20th. Wells Fargo & Company dropped their price objective on shares of Micron Technology from $175.00 to $140.00 and set an “overweight” rating for the company in a research report on Thursday, December 19th. JPMorgan Chase & Co. lowered their target price on Micron Technology from $180.00 to $145.00 and set an “overweight” rating for the company in a research note on Thursday, December 19th. Morgan Stanley lowered their price objective on Micron Technology from $98.00 to $91.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 28th. Finally, Cantor Fitzgerald dropped their price target on shares of Micron Technology from $150.00 to $130.00 and set an “overweight” rating for the company in a research note on Thursday, December 19th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-three have given a buy rating to the company’s stock. According to MarketBeat.com, Micron Technology presently has an average rating of “Moderate Buy” and a consensus price target of $134.96.

Micron Technology Stock Performance

Shares of Micron Technology stock opened at $94.08 on Wednesday. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.72 and a quick ratio of 1.75. The firm has a market cap of $104.82 billion, a price-to-earnings ratio of 27.11 and a beta of 1.18. Micron Technology, Inc. has a one year low of $79.15 and a one year high of $157.54. The stock’s 50-day moving average is $96.58 and its 200-day moving average is $98.88.

Micron Technology (NASDAQ:MU) last released its quarterly earnings results on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 earnings per share for the quarter, topping analysts’ consensus estimates of $1.60 by $0.19. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. The firm had revenue of $8.71 billion during the quarter, compared to the consensus estimate of $8.71 billion. During the same quarter in the prior year, the firm posted ($0.95) EPS. The business’s revenue was up 84.3% on a year-over-year basis. Equities analysts predict that Micron Technology, Inc. will post 6.29 earnings per share for the current fiscal year.

Micron Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Monday, December 30th were given a dividend of $0.115 per share. The ex-dividend date of this dividend was Monday, December 30th. This represents a $0.46 annualized dividend and a yield of 0.49%. Micron Technology’s dividend payout ratio (DPR) is presently 13.26%.

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.