Aviva PLC Purchases 36,111 Shares of Micron Technology, Inc. (NASDAQ:MU)

Aviva PLC raised its holdings in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 5.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 667,877 shares of the semiconductor manufacturer's stock after purchasing an additional 36,111 shares during the period. Aviva PLC owned 0.06% of Micron Technology worth $56,209,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. E Fund Management Co. Ltd. increased its holdings in Micron Technology by 31.8% during the 4th quarter. E Fund Management Co. Ltd. now owns 36,378 shares of the semiconductor manufacturer's stock worth $3,062,000 after acquiring an additional 8,780 shares during the period. CIBC Private Wealth Group LLC grew its position in shares of Micron Technology by 43.0% during the 4th quarter. CIBC Private Wealth Group LLC now owns 14,178 shares of the semiconductor manufacturer's stock valued at $1,193,000 after purchasing an additional 4,264 shares in the last quarter. Stablepoint Partners LLC bought a new position in shares of Micron Technology in the fourth quarter worth $569,000. Landscape Capital Management L.L.C. raised its position in shares of Micron Technology by 167.0% in the fourth quarter. Landscape Capital Management L.L.C. now owns 45,758 shares of the semiconductor manufacturer's stock worth $3,851,000 after buying an additional 28,621 shares in the last quarter. Finally, Main Management ETF Advisors LLC bought a new stake in Micron Technology during the third quarter valued at $2,414,000. Institutional investors own 80.84% of the company's stock.

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Micron Technology Trading Down 4.2 %

Shares of Micron Technology stock traded down $2.85 during trading on Tuesday, reaching $65.52. 26,933,896 shares of the stock were exchanged, compared to its average volume of 22,912,282. The company has a quick ratio of 1.75, a current ratio of 2.72 and a debt-to-equity ratio of 0.28. The firm has a market cap of $73.23 billion, a price-to-earnings ratio of 18.92 and a beta of 1.18. Micron Technology, Inc. has a 1 year low of $61.54 and a 1 year high of $157.54. The stock's fifty day moving average is $92.96 and its 200 day moving average is $98.09.

Micron Technology (NASDAQ:MU - Get Free Report) last issued its quarterly earnings data on Thursday, March 20th. The semiconductor manufacturer reported $1.56 earnings per share for the quarter, topping analysts' consensus estimates of $1.43 by $0.13. The firm had revenue of $8.05 billion for the quarter, compared to analyst estimates of $7.93 billion. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. The business's quarterly revenue was up 38.2% compared to the same quarter last year. During the same period last year, the company earned $0.42 EPS. As a group, equities research analysts expect that Micron Technology, Inc. will post 6.08 earnings per share for the current fiscal year.

Micron Technology Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be given a $0.115 dividend. The ex-dividend date is Monday, March 31st. This represents a $0.46 annualized dividend and a dividend yield of 0.70%. Micron Technology's dividend payout ratio is 11.03%.

Analysts Set New Price Targets

Several research firms have weighed in on MU. Barclays raised their price target on Micron Technology from $110.00 to $115.00 and gave the company an "overweight" rating in a report on Friday, March 21st. TD Cowen lowered their target price on shares of Micron Technology from $135.00 to $125.00 and set a "buy" rating on the stock in a research note on Thursday, December 19th. Robert W. Baird boosted their price target on shares of Micron Technology from $130.00 to $163.00 and gave the stock an "outperform" rating in a research note on Friday, March 21st. Wedbush reissued an "outperform" rating and issued a $125.00 price target on shares of Micron Technology in a report on Monday, March 17th. Finally, The Goldman Sachs Group dropped their price objective on shares of Micron Technology from $145.00 to $128.00 and set a "buy" rating for the company in a report on Thursday, December 19th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Micron Technology presently has a consensus rating of "Moderate Buy" and an average price target of $129.76.

Insider Activity

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