Asset Management One Co. Ltd. Has $38.38 Million Holdings in Micron Technology, Inc. (NASDAQ:MU)

Asset Management One Co. Ltd. boosted its stake in shares of Micron Technology, Inc. (NASDAQ:MU) by 1.8% in the 4th quarter, Holdings Channel.com reports. The firm owned 433,226 shares of the semiconductor manufacturer’s stock after buying an additional 7,465 shares during the quarter. Asset Management One Co. Ltd.’s holdings in Micron Technology were worth $38,381,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. Highline Wealth Partners LLC acquired a new position in shares of Micron Technology in the 3rd quarter valued at $26,000. Stone House Investment Management LLC raised its stake in shares of Micron Technology by 602.2% in the 3rd quarter. Stone House Investment Management LLC now owns 323 shares of the semiconductor manufacturer’s stock valued at $34,000 after buying an additional 277 shares in the last quarter. True Wealth Design LLC raised its stake in shares of Micron Technology by 1,096.3% in the 3rd quarter. True Wealth Design LLC now owns 323 shares of the semiconductor manufacturer’s stock valued at $33,000 after buying an additional 296 shares in the last quarter. DT Investment Partners LLC grew its holdings in shares of Micron Technology by 261.1% in the 3rd quarter. DT Investment Partners LLC now owns 325 shares of the semiconductor manufacturer’s stock worth $34,000 after purchasing an additional 235 shares during the last quarter. Finally, Darwin Wealth Management LLC bought a new stake in shares of Micron Technology in the 3rd quarter worth about $39,000. Institutional investors and hedge funds own 80.84% of the company’s stock.

Micron Technology Stock Up 4.0 %

Shares of NASDAQ MU opened at $99.52 on Friday. The firm has a market capitalization of $110.88 billion, a PE ratio of 28.68 and a beta of 1.18. The company has a current ratio of 2.72, a quick ratio of 1.75 and a debt-to-equity ratio of 0.28. Micron Technology, Inc. has a 1 year low of $79.15 and a 1 year high of $157.54. The firm’s 50-day moving average is $96.13 and its 200-day moving average is $98.70.

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

Micron Technology Dividend Announcement

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

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on MU. Robert W. Baird lowered their target price on shares of Micron Technology from $150.00 to $130.00 and set an “outperform” rating on the stock in a report on Thursday, December 19th. China Renaissance began coverage on shares of Micron Technology in a report on Monday, October 28th. They issued a “buy” rating and a $148.00 target price on the stock. Mizuho lowered their target price on shares of Micron Technology from $135.00 to $115.00 and set an “outperform” rating on the stock in a report on Thursday, December 19th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $250.00 target price on shares of Micron Technology in a report on Wednesday, December 18th. Finally, Piper Sandler lowered their target price on shares of Micron Technology from $150.00 to $120.00 and set an “overweight” rating on the stock in a report on Thursday, December 19th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-three have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $134.96.

Insider Activity at Micron Technology

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of the firm’s stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $85.21, for a total transaction of $416,676.90. Following the sale, the executive vice president now directly owns 181,223 shares in the company, valued at approximately $15,442,011.83. This trade represents a 2.63 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. 0.30% of the stock is currently owned by corporate insiders.

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.