Micron Technology, Inc. (NASDAQ:MU) Shares Bought by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. raised its position in Micron Technology, Inc. (NASDAQ:MU) by 39.6% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 61,321 shares of the semiconductor manufacturer’s stock after acquiring an additional 17,399 shares during the period. Assenagon Asset Management S.A.’s holdings in Micron Technology were worth $5,161,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the company. State Street Corp lifted its stake in shares of Micron Technology by 3.1% in 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 lifted its stake in shares of Micron Technology by 0.6% in the third quarter. Primecap Management Co. CA now owns 37,631,860 shares of the semiconductor manufacturer’s stock valued at $3,902,800,000 after purchasing an additional 206,499 shares during the period. Geode Capital Management LLC lifted its stake in shares of Micron Technology by 3.9% in the third 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 period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of 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 valued at $1,174,643,000 after purchasing an additional 2,022,180 shares during the period. Finally, Van ECK Associates Corp lifted its stake in shares of Micron Technology by 30.6% in the third quarter. Van ECK Associates Corp now owns 10,564,198 shares of the semiconductor manufacturer’s stock valued at $1,109,769,000 after purchasing an additional 2,477,985 shares during the period. Institutional investors and hedge funds own 80.84% of the company’s stock.

Insider Transactions at Micron Technology

In related news, EVP April S. Arnzen sold 4,890 shares of the 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 in the company, valued at $15,442,011.83. This represents a 2.63 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 0.30% of the company’s stock.

Micron Technology Trading Up 3.1 %

MU opened at $105.75 on Tuesday. The stock has a market capitalization of $117.82 billion, a PE ratio of 30.48 and a beta of 1.18. The firm’s fifty day moving average price is $97.87 and its 200 day moving average price is $102.02. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.72 and a quick ratio of 1.75. Micron Technology, Inc. has a 12-month low of $79.15 and a 12-month high of $157.54.

Micron Technology (NASDAQ:MU) last posted its quarterly earnings results on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.60 by $0.19. The firm had revenue of $8.71 billion for the quarter, compared to analysts’ expectations of $8.71 billion. Micron Technology had a net margin of 13.34% and a return on equity of 8.32%. The firm’s quarterly revenue was up 84.3% on a year-over-year basis. During the same period in the prior year, the company posted ($0.95) earnings per share. As a group, research analysts expect that Micron Technology, Inc. will post 6.25 EPS for the current fiscal year.

Micron Technology Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Monday, December 30th were given a dividend of $0.115 per share. The ex-dividend date was Monday, December 30th. This represents a $0.46 annualized dividend and a dividend yield of 0.43%. Micron Technology’s dividend payout ratio is currently 13.26%.

Wall Street Analysts Forecast Growth

MU has been the subject of several recent analyst reports. Raymond James raised their price objective on shares of Micron Technology from $125.00 to $140.00 and gave the company an “outperform” rating in a research note on Thursday, September 26th. Robert W. Baird dropped their target price on shares of Micron Technology from $150.00 to $130.00 and set an “outperform” rating for the company in a report on Thursday, December 19th. KeyCorp dropped their target price on shares of Micron Technology from $145.00 to $135.00 and set an “overweight” rating for the company in a report on Tuesday, October 8th. Wedbush restated an “outperform” rating and set a $140.00 target price on shares of Micron Technology in a report on Tuesday, December 17th. Finally, China Renaissance initiated coverage on shares of Micron Technology in a report on Monday, October 28th. They set a “buy” rating and a $148.00 target price for the company. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $135.24.

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.