Himension Capital Singapore PTE. LTD. Raises Position in Micron Technology, Inc. (NASDAQ:MU)

Himension Capital Singapore PTE. LTD. lifted its holdings in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) by 41.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 70,595 shares of the semiconductor manufacturer's stock after purchasing an additional 20,524 shares during the period. Micron Technology accounts for 0.4% of Himension Capital Singapore PTE. LTD.'s holdings, making the stock its 25th biggest holding. Himension Capital Singapore PTE. LTD.'s holdings in Micron Technology were worth $5,941,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Vanguard Group Inc. grew its holdings in Micron Technology by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 99,857,205 shares of the semiconductor manufacturer's stock worth $8,403,982,000 after acquiring an additional 888,087 shares during the period. Geode Capital Management LLC increased its stake in Micron Technology by 3.1% during the 4th quarter. Geode Capital Management LLC now owns 24,449,827 shares of the semiconductor manufacturer's stock valued at $2,052,973,000 after purchasing an additional 726,282 shares in the last quarter. Norges Bank acquired a new stake in shares of Micron Technology in the 4th quarter worth about $1,470,875,000. Bank of New York Mellon Corp raised its stake in shares of Micron Technology by 1.5% in the fourth quarter. Bank of New York Mellon Corp now owns 9,956,311 shares of the semiconductor manufacturer's stock worth $837,923,000 after purchasing an additional 144,897 shares during the last quarter. Finally, Franklin Resources Inc. raised its position in Micron Technology by 4.6% in the 3rd quarter. Franklin Resources Inc. now owns 7,283,124 shares of the semiconductor manufacturer's stock valued at $789,054,000 after buying an additional 321,955 shares during the last quarter. 80.84% of the stock is owned by institutional investors and hedge funds.

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Analysts Set New Price Targets

Several research firms have commented on MU. Citigroup decreased their price objective on shares of Micron Technology from $150.00 to $120.00 and set a "buy" rating for the company in a research note on Friday, March 21st. Robert W. Baird increased their target price on shares of Micron Technology from $130.00 to $163.00 and gave the stock an "outperform" rating in a research report on Friday, March 21st. Wells Fargo & Company cut their price target on Micron Technology from $140.00 to $130.00 and set an "overweight" rating for the company in a report on Thursday, March 13th. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $130.00 target price on shares of Micron Technology in a report on Friday, March 21st. Finally, UBS Group upped their target price on Micron Technology from $125.00 to $130.00 and gave the stock a "buy" rating in a research note on Monday, March 17th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $129.76.

Insider Activity

In related news, Director Mary Pat Mccarthy sold 2,404 shares of the stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $92.93, for a total transaction of $223,403.72. Following the transaction, the director now owns 27,358 shares in the company, valued at $2,542,378.94. This represents a 8.08 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP April S. Arnzen sold 15,000 shares of the firm's stock in a transaction on 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 completion of the transaction, the executive vice president now owns 164,769 shares in the company, valued at approximately $15,847,482.42. This trade represents a 8.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.30% of the company's stock.

Micron Technology Trading Down 4.8 %

Shares of MU stock traded down $3.25 during mid-day trading on Tuesday, reaching $65.12. The stock had a trading volume of 27,583,352 shares, compared to its average volume of 22,920,233. Micron Technology, Inc. has a 52-week low of $61.54 and a 52-week high of $157.54. The company has a current ratio of 2.72, a quick ratio of 1.75 and a debt-to-equity ratio of 0.28. The stock's 50-day moving average price is $92.96 and its two-hundred day moving average price is $98.09. The firm has a market capitalization of $72.78 billion, a PE ratio of 18.58 and a beta of 1.18.

Micron Technology (NASDAQ:MU - Get Free Report) last announced 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 net margin of 13.34% and a return on equity of 8.32%. The firm had revenue of $8.05 billion for the quarter, compared to analyst estimates of $7.93 billion. During the same quarter in the previous year, the firm posted $0.42 EPS. The company's revenue for the quarter was up 38.2% compared to the same quarter last year. Equities analysts expect that Micron Technology, Inc. will post 6.08 earnings per share for the current fiscal year.

Micron Technology Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be paid a $0.115 dividend. The ex-dividend date is Monday, March 31st. This represents a $0.46 annualized dividend and a dividend yield of 0.71%. Micron Technology's payout ratio is 11.03%.

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.