Achmea Investment Management B.V. Takes Position in Micron Technology, Inc. (NASDAQ:MU)

Achmea Investment Management B.V. purchased a new stake in shares of Micron Technology, Inc. (NASDAQ:MU) during the fourth quarter, Holdings Channel.com reports. The firm purchased 44,952 shares of the semiconductor manufacturer’s stock, valued at approximately $3,783,000.

A number of other large investors have also made changes to their positions in MU. Swedbank AB increased its stake in Micron Technology by 30.4% in the 3rd quarter. Swedbank AB now owns 3,455,819 shares of the semiconductor manufacturer’s stock valued at $358,403,000 after buying an additional 806,639 shares during the period. Aptus Capital Advisors LLC increased its stake in Micron Technology by 2.5% in the 3rd quarter. Aptus Capital Advisors LLC now owns 8,524 shares of the semiconductor manufacturer’s stock valued at $884,000 after buying an additional 204 shares during the period. Haverford Trust Co increased its stake in Micron Technology by 6.0% in the 3rd quarter. Haverford Trust Co now owns 2,439 shares of the semiconductor manufacturer’s stock valued at $253,000 after buying an additional 138 shares during the period. Kovack Advisors Inc. increased its stake in Micron Technology by 13.1% in the 3rd quarter. Kovack Advisors Inc. now owns 5,412 shares of the semiconductor manufacturer’s stock valued at $561,000 after buying an additional 628 shares during the period. Finally, Metis Global Partners LLC increased its stake in Micron Technology by 0.8% in the 3rd quarter. Metis Global Partners LLC now owns 42,036 shares of the semiconductor manufacturer’s stock valued at $4,360,000 after buying an additional 346 shares during the period. Institutional investors and hedge funds own 80.84% of the company’s stock.

Analyst Ratings Changes

Several analysts have commented on the stock. Rosenblatt Securities reissued a “buy” rating and issued a $250.00 target price on shares of Micron Technology in a research report on Wednesday, December 18th. KGI Securities raised shares of Micron Technology to a “strong-buy” rating in a research report on Friday, February 21st. Sanford C. Bernstein decreased their target price on shares of Micron Technology from $140.00 to $120.00 and set an “outperform” rating for the company in a research report on Wednesday, December 18th. Barclays decreased their target price on shares of Micron Technology from $145.00 to $110.00 and set an “overweight” rating for the company in a research report on Friday, December 20th. Finally, Needham & Company LLC decreased their target price on shares of Micron Technology from $140.00 to $120.00 and set a “buy” rating for the company in a research report on Thursday, December 19th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Micron Technology presently has a consensus rating of “Moderate Buy” and an average target price of $134.56.

Micron Technology Trading Up 6.2 %

Shares of MU stock opened at $100.79 on Friday. Micron Technology, Inc. has a 52-week low of $83.54 and a 52-week high of $157.54. The stock has a market cap of $112.30 billion, a price-to-earnings ratio of 29.05 and a beta of 1.23. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.75 and a current ratio of 2.72. The firm has a fifty day moving average of $96.72 and a 200-day moving average of $98.05.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings data on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.60 by $0.19. Micron Technology had a net margin of 13.34% and a return on equity of 8.32%. The company had revenue of $8.71 billion during the quarter, compared to analysts’ expectations of $8.71 billion. During the same quarter in the prior year, the company posted ($0.95) EPS. The business’s revenue was up 84.3% on a year-over-year basis. On average, equities research analysts forecast that Micron Technology, Inc. will post 6.08 earnings per share for the current fiscal year.

Micron Technology Dividend Announcement

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

Insider Activity

In related news, Director Mary Pat Mccarthy sold 2,404 shares of the stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $92.93, for a total transaction of $223,403.72. Following the completion of the sale, the director now owns 27,358 shares in the company, valued at $2,542,378.94. This trade represents a 8.08 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP April S. Arnzen sold 4,890 shares of the stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $85.21, for a total transaction of $416,676.90. Following the sale, 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 disclosure for this sale can be found here. Corporate insiders own 0.30% of the company’s stock.

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.