Vinva Investment Management Ltd Acquires 5,504 Shares of Micron Technology, Inc. (NASDAQ:MU)

Vinva Investment Management Ltd raised its stake in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) by 11.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 55,697 shares of the semiconductor manufacturer's stock after acquiring an additional 5,504 shares during the quarter. Vinva Investment Management Ltd's holdings in Micron Technology were worth $4,752,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Stone House Investment Management LLC lifted its position in Micron Technology by 602.2% during the 3rd quarter. Stone House Investment Management LLC now owns 323 shares of the semiconductor manufacturer's stock worth $34,000 after buying an additional 277 shares in the last quarter. True Wealth Design LLC lifted its position in Micron Technology by 1,096.3% during the 3rd quarter. True Wealth Design LLC now owns 323 shares of the semiconductor manufacturer's stock worth $33,000 after buying an additional 296 shares in the last quarter. Beacon Capital Management LLC grew its stake in shares of Micron Technology by 114.9% during the fourth quarter. Beacon Capital Management LLC now owns 374 shares of the semiconductor manufacturer's stock valued at $31,000 after purchasing an additional 200 shares during the last quarter. Darwin Wealth Management LLC acquired a new stake in shares of Micron Technology in the third quarter valued at approximately $39,000. Finally, Midwest Capital Advisors LLC acquired a new stake in shares of Micron Technology in the fourth quarter valued at approximately $33,000. 80.84% of the stock is owned by institutional investors.

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Insider Transactions at Micron Technology

In other news, Director Mary Pat Mccarthy sold 2,404 shares of the company's 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 completion of the sale, the director now owns 27,358 shares of the company's stock, valued at approximately $2,542,378.94. This represents a 8.08 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.30% of the stock is owned by company insiders.

Micron Technology Stock Down 8.0 %

NASDAQ:MU traded down $8.28 on Friday, hitting $94.72. 63,123,228 shares of the company's stock were exchanged, compared to its average volume of 22,501,008. The firm has a 50-day moving average price of $96.82 and a 200-day moving average price of $98.28. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.72 and a quick ratio of 1.75. Micron Technology, Inc. has a 52 week low of $83.54 and a 52 week high of $157.54. The company has a market cap of $105.53 billion, a P/E ratio of 27.30 and a beta of 1.23.

Micron Technology (NASDAQ:MU - Get Free Report) last issued its quarterly earnings results on Thursday, March 20th. The semiconductor manufacturer reported $1.56 EPS for the quarter, topping the consensus estimate 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 analysts' expectations of $7.93 billion. During the same period in the previous year, the firm posted $0.42 EPS. The company's revenue for the quarter was up 38.2% on a year-over-year basis. As a group, analysts expect that Micron Technology, Inc. will post 6.08 EPS 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. Shareholders of record on Monday, March 31st will be given a dividend of $0.115 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.46 annualized dividend and a yield of 0.49%. Micron Technology's dividend payout ratio (DPR) is presently 11.03%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on MU shares. Needham & Company LLC lowered their price target on shares of Micron Technology from $140.00 to $120.00 and set a "buy" rating for the company in a report on Thursday, December 19th. Sanford C. Bernstein lowered their price target on shares of Micron Technology from $140.00 to $120.00 and set an "outperform" rating for the company in a report on Wednesday, December 18th. Cantor Fitzgerald reissued an "overweight" rating and issued a $130.00 price target on shares of Micron Technology in a report on Friday. Bank of America lowered shares of Micron Technology from a "buy" rating to a "neutral" rating and lowered their price target for the company from $125.00 to $110.00 in a report on Thursday, December 19th. Finally, Morgan Stanley raised their price target on shares of Micron Technology from $91.00 to $112.00 and gave the company an "equal weight" rating in a report on Friday. One analyst has rated the stock with a sell rating, two have given a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $132.63.

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.