E Fund Management Co. Ltd. Has $3.06 Million Holdings in Micron Technology, Inc. (NASDAQ:MU)

E Fund Management Co. Ltd. grew its position in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 31.8% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 36,378 shares of the semiconductor manufacturer's stock after buying an additional 8,780 shares during the period. E Fund Management Co. Ltd.'s holdings in Micron Technology were worth $3,062,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in MU. Candriam S.C.A. raised its stake in shares of Micron Technology by 37.6% during the fourth quarter. Candriam S.C.A. now owns 1,050,153 shares of the semiconductor manufacturer's stock worth $88,381,000 after buying an additional 287,019 shares during the last quarter. Carmel Capital Partners LLC raised its position in shares of Micron Technology by 53.9% in the 4th quarter. Carmel Capital Partners LLC now owns 18,385 shares of the semiconductor manufacturer's stock valued at $1,547,000 after acquiring an additional 6,437 shares during the period. Inceptionr LLC acquired a new position in Micron Technology during the fourth quarter valued at approximately $309,000. LHM Inc. grew its holdings in Micron Technology by 20.6% during the fourth quarter. LHM Inc. now owns 101,165 shares of the semiconductor manufacturer's stock valued at $8,526,000 after purchasing an additional 17,278 shares during the period. Finally, Raymond James Financial Inc. bought a new stake in Micron Technology in the fourth quarter valued at approximately $135,865,000. 80.84% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Micron Technology

In related news, EVP April S. Arnzen sold 4,890 shares of Micron Technology stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $85.21, for a total transaction of $416,676.90. Following the completion of the sale, the executive vice president now directly owns 181,223 shares of the company's stock, valued at approximately $15,442,011.83. This trade represents a 2.63 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Mary Pat Mccarthy sold 2,404 shares of the company's stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $92.93, for a total value of $223,403.72. Following the completion of the transaction, the director now directly owns 27,358 shares in the company, valued at approximately $2,542,378.94. This 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.

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Micron Technology Stock Performance

Shares of MU traded up $3.69 during midday trading on Friday, reaching $92.96. The stock had a trading volume of 19,124,262 shares, compared to its average volume of 22,173,117. The firm has a market cap of $103.57 billion, a PE ratio of 26.79 and a beta of 1.23. The firm has a 50 day simple moving average of $95.99 and a 200-day simple moving average of $98.29. Micron Technology, Inc. has a one year low of $83.54 and a one year 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.

Micron Technology (NASDAQ:MU - Get Free Report) last posted its quarterly earnings results on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 EPS for the quarter, topping analysts' consensus estimates of $1.60 by $0.19. The business had revenue of $8.71 billion during the quarter, compared to analysts' expectations of $8.71 billion. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. Micron Technology's quarterly revenue was up 84.3% on a year-over-year basis. During the same quarter last year, the company posted ($0.95) earnings per share. As a group, sell-side analysts anticipate that Micron Technology, Inc. will post 6.08 EPS for the current year.

Micron Technology Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Investors 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 0.49%. 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 equities analysts have recently issued reports on the stock. Barclays decreased their price target on shares of Micron Technology from $145.00 to $110.00 and set an "overweight" rating for the company in a report on Friday, December 20th. Stifel Nicolaus decreased their target price on Micron Technology from $135.00 to $130.00 and set a "buy" rating for the company in a research note on Thursday, December 19th. Morgan Stanley dropped their price target on Micron Technology from $98.00 to $91.00 and set an "equal weight" rating on the stock in a research report on Tuesday, January 28th. UBS Group decreased their price objective on Micron Technology from $135.00 to $125.00 and set a "buy" rating for the company in a research report on Thursday, December 19th. Finally, Sanford C. Bernstein dropped their target price on shares of Micron Technology from $140.00 to $120.00 and set an "outperform" rating on the stock in a report on Wednesday, December 18th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $134.96.

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.