Assenagon Asset Management S.A. Boosts Stock Position in Micron Technology, Inc. (NASDAQ:MU)

Assenagon Asset Management S.A. grew its stake in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) by 39.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 61,321 shares of the semiconductor manufacturer's stock after buying an additional 17,399 shares during the period. Assenagon Asset Management S.A.'s holdings in Micron Technology were worth $5,161,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. Highline Wealth Partners LLC purchased a new position in Micron Technology in the 3rd quarter worth approximately $26,000. Davis Capital Management purchased a new position in Micron Technology in the 3rd quarter worth approximately $30,000. True Wealth Design LLC lifted its holdings in Micron Technology by 1,096.3% in the 3rd quarter. True Wealth Design LLC now owns 323 shares of the semiconductor manufacturer's stock worth $33,000 after purchasing an additional 296 shares in the last quarter. DT Investment Partners LLC lifted its holdings in Micron Technology by 261.1% in the 3rd quarter. DT Investment Partners LLC now owns 325 shares of the semiconductor manufacturer's stock worth $34,000 after purchasing an additional 235 shares in the last quarter. Finally, Stone House Investment Management LLC raised its holdings in shares of 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 acquiring an additional 277 shares in the last quarter. 80.84% of the stock is owned by hedge funds and other institutional investors.

Micron Technology Stock Up 3.4 %

Shares of NASDAQ MU traded up $3.63 during mid-day trading on Tuesday, reaching $109.38. 23,399,417 shares of the company were exchanged, compared to its average volume of 26,186,410. The firm has a 50-day moving average of $97.82 and a 200 day moving average of $101.80. The company has a quick ratio of 1.75, a current ratio of 2.72 and a debt-to-equity ratio of 0.28. Micron Technology, Inc. has a 1 year low of $79.15 and a 1 year high of $157.54. The stock has a market cap of $121.87 billion, a price-to-earnings ratio of 31.52 and a beta of 1.18.

Micron Technology (NASDAQ:MU - Get Free Report) last released its quarterly earnings results on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 EPS for the quarter, beating analysts' consensus estimates of $1.60 by $0.19. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. The company had revenue of $8.71 billion during the quarter, compared to analysts' expectations of $8.71 billion. During the same period last year, the business posted ($0.95) earnings per share. The firm's revenue was up 84.3% compared to the same quarter last year. On average, research analysts expect that Micron Technology, Inc. will post 6.25 earnings per share for the current year.

Micron Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Monday, December 30th were paid a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a yield of 0.42%. The ex-dividend date of this dividend was Monday, December 30th. Micron Technology's dividend payout ratio (DPR) is presently 13.26%.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on MU shares. Wedbush reaffirmed an "outperform" rating and set a $140.00 price objective on shares of Micron Technology in a report on Tuesday, December 17th. Susquehanna decreased their price objective on Micron Technology from $175.00 to $165.00 and set a "positive" rating on the stock in a report on Thursday, September 26th. China Renaissance started coverage on Micron Technology in a report on Monday, October 28th. They set a "buy" rating and a $148.00 price objective on the stock. KeyCorp decreased their price objective on Micron Technology from $145.00 to $135.00 and set an "overweight" rating on the stock in a report on Tuesday, October 8th. Finally, JPMorgan Chase & Co. decreased their price objective on Micron Technology from $180.00 to $145.00 and set an "overweight" rating on the stock in a report on Thursday, December 19th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and twenty-three have assigned a buy rating to the company. According to MarketBeat.com, Micron Technology currently has an average rating of "Moderate Buy" and a consensus price target of $135.24.

Insider Activity

In other news, 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 value of $416,676.90. Following the transaction, the executive vice president now directly owns 181,223 shares of the company's stock, valued at approximately $15,442,011.83. This represents a 2.63 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.30% of the company's stock.

Micron Technology Company Profile

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.