TB Alternative Assets Ltd. Buys New Holdings in Micron Technology, Inc. (NASDAQ:MU)

TB Alternative Assets Ltd. acquired a new position in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 18,500 shares of the semiconductor manufacturer's stock, valued at approximately $1,557,000.

A number of other hedge funds have also bought and sold shares of MU. Stonebrook Private Inc. increased its stake in Micron Technology by 4.2% in the 3rd quarter. Stonebrook Private Inc. now owns 2,454 shares of the semiconductor manufacturer's stock worth $255,000 after buying an additional 98 shares during the period. John G Ullman & Associates Inc. grew its stake in Micron Technology by 2.5% in the 3rd quarter. John G Ullman & Associates Inc. now owns 4,063 shares of the semiconductor manufacturer's stock worth $421,000 after acquiring an additional 100 shares in the last quarter. Trivant Custom Portfolio Group LLC grew its stake in Micron Technology by 20.0% in the 4th quarter. Trivant Custom Portfolio Group LLC now owns 600 shares of the semiconductor manufacturer's stock worth $50,000 after acquiring an additional 100 shares in the last quarter. Trust Co. of Vermont increased its position in shares of Micron Technology by 14.3% during the third quarter. Trust Co. of Vermont now owns 821 shares of the semiconductor manufacturer's stock worth $85,000 after acquiring an additional 103 shares during the period. Finally, PDS Planning Inc raised its stake in shares of Micron Technology by 2.4% during the third quarter. PDS Planning Inc now owns 4,382 shares of the semiconductor manufacturer's stock valued at $454,000 after acquiring an additional 104 shares in the last quarter. Institutional investors own 80.84% of the company's stock.

Insider Activity

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of the business's stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $85.21, for a total value of $416,676.90. Following the sale, the executive vice president now owns 181,223 shares of the company's stock, valued at $15,442,011.83. The trade was 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 available through this link. Corporate insiders own 0.30% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on MU shares. Sanford C. Bernstein reduced their price target on Micron Technology from $140.00 to $120.00 and set an "outperform" rating for the company in a research report on Wednesday, December 18th. Piper Sandler reduced their target price on shares of Micron Technology from $150.00 to $120.00 and set an "overweight" rating for the company in a report on Thursday, December 19th. The Goldman Sachs Group lowered their price target on shares of Micron Technology from $145.00 to $128.00 and set a "buy" rating on the stock in a report on Thursday, December 19th. Stifel Nicolaus cut their price objective on shares of Micron Technology from $135.00 to $130.00 and set a "buy" rating on the stock in a research report on Thursday, December 19th. Finally, TD Cowen decreased their target price on shares of Micron Technology from $135.00 to $125.00 and set a "buy" rating for the company in a research report on Thursday, December 19th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-three have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $135.24.

Micron Technology Price Performance

MU stock traded up $3.63 during mid-day trading on Tuesday, reaching $109.38. The company's stock had a trading volume of 23,399,417 shares, compared to its average volume of 26,186,410. The stock has a market cap of $121.87 billion, a PE ratio of 31.52 and a beta of 1.18. The company's 50 day moving average is $97.82 and its two-hundred day moving average is $101.80. Micron Technology, Inc. has a fifty-two week low of $79.15 and a fifty-two 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.

Micron Technology (NASDAQ:MU - Get Free Report) last issued its earnings results on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 earnings per share (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 the consensus estimate of $8.71 billion. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. The company's revenue for the quarter was up 84.3% on a year-over-year basis. During the same period last year, the company earned ($0.95) EPS. Equities research analysts expect that Micron Technology, Inc. will post 6.25 EPS for the current year.

Micron Technology Announces Dividend

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

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.