APG Asset Management N.V. Boosts Stock Position in Micron Technology, Inc. (NASDAQ:MU)

APG Asset Management N.V. lifted its position in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) by 804.7% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 669,042 shares of the semiconductor manufacturer's stock after purchasing an additional 595,092 shares during the quarter. APG Asset Management N.V. owned 0.06% of Micron Technology worth $54,376,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Beacon Capital Management LLC lifted its position in Micron Technology by 114.9% in the 4th quarter. Beacon Capital Management LLC now owns 374 shares of the semiconductor manufacturer's stock valued at $31,000 after acquiring an additional 200 shares in the last quarter. Midwest Capital Advisors LLC purchased a new stake in shares of Micron Technology in the fourth quarter worth approximately $33,000. Comprehensive Financial Planning Inc. PA bought a new position in shares of Micron Technology in the fourth quarter valued at approximately $34,000. Curio Wealth LLC purchased a new position in shares of Micron Technology during the fourth quarter valued at approximately $34,000. Finally, Activest Wealth Management boosted its position in shares of Micron Technology by 583.3% during the fourth quarter. Activest Wealth Management now owns 410 shares of the semiconductor manufacturer's stock valued at $34,000 after buying an additional 350 shares during the last quarter. 80.84% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Micron Technology

In other Micron Technology news, Director Mary Pat Mccarthy sold 2,404 shares of the firm's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $92.93, for a total value of $223,403.72. Following the sale, the director now owns 27,358 shares of the company's stock, valued at $2,542,378.94. This trade represents a 8.08 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP April S. Arnzen sold 15,000 shares of the business's stock in a transaction dated Tuesday, March 25th. The stock was sold at an average price of $96.18, for a total value of $1,442,700.00. Following the transaction, the executive vice president now directly owns 164,769 shares of the company's stock, valued at $15,847,482.42. The trade was a 8.34 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.30% of the company's stock.

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Micron Technology Stock Performance

Shares of NASDAQ MU traded down $0.50 during mid-day trading on Friday, hitting $69.55. The company had a trading volume of 30,755,036 shares, compared to its average volume of 23,239,529. 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 $61.54 and a 1 year high of $157.54. The company has a market capitalization of $77.73 billion, a price-to-earnings ratio of 20.04 and a beta of 1.18. The stock's 50-day moving average price is $90.66 and its 200-day moving average price is $97.00.

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

Micron Technology Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be paid a $0.115 dividend. This represents a $0.46 annualized dividend and a yield of 0.66%. The ex-dividend date is Monday, March 31st. Micron Technology's dividend payout ratio is presently 11.03%.

Wall Street Analysts Forecast Growth

MU has been the topic of several recent analyst reports. UBS Group raised their price objective on Micron Technology from $125.00 to $130.00 and gave the company a "buy" rating in a research note on Monday, March 17th. KGI Securities raised shares of Micron Technology to a "strong-buy" rating in a research report on Friday, February 21st. Citigroup reduced their price objective on shares of Micron Technology from $120.00 to $110.00 and set a "buy" rating for the company in a research report on Friday. JPMorgan Chase & Co. dropped their target price on shares of Micron Technology from $145.00 to $135.00 and set an "overweight" rating on the stock in a research report on Friday, March 21st. Finally, 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 report on Thursday, December 19th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Micron Technology presently has a consensus rating of "Moderate Buy" and a consensus price target of $129.36.

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.