Micron Technology, Inc. (NASDAQ:MU) Shares Acquired by Harvest Fund Management Co. Ltd

Harvest Fund Management Co. Ltd grew its stake in Micron Technology, Inc. (NASDAQ:MU) by 34.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 17,940 shares of the semiconductor manufacturer’s stock after purchasing an additional 4,582 shares during the period. Harvest Fund Management Co. Ltd’s holdings in Micron Technology were worth $1,530,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Northern Trust Corp boosted its stake in shares of Micron Technology by 0.7% in the third quarter. Northern Trust Corp now owns 10,833,670 shares of the semiconductor manufacturer’s stock valued at $737,015,000 after buying an additional 80,345 shares in the last quarter. L2 Asset Management LLC boosted its stake in shares of Micron Technology by 492.3% in the third quarter. L2 Asset Management LLC now owns 26,444 shares of the semiconductor manufacturer’s stock valued at $1,799,000 after buying an additional 21,979 shares in the last quarter. Invesco Ltd. boosted its stake in shares of Micron Technology by 11.8% in the third quarter. Invesco Ltd. now owns 8,807,926 shares of the semiconductor manufacturer’s stock valued at $599,203,000 after buying an additional 927,302 shares in the last quarter. Merlin Capital Inc purchased a new stake in shares of Micron Technology in the third quarter valued at approximately $407,000. Finally, Amitell Capital Pte Ltd boosted its stake in shares of Micron Technology by 97.9% in the third quarter. Amitell Capital Pte Ltd now owns 95,210 shares of the semiconductor manufacturer’s stock valued at $6,477,000 after buying an additional 47,105 shares in the last quarter. Institutional investors and hedge funds own 80.84% of the company’s stock.

Analyst Ratings Changes

A number of analysts have commented on MU shares. Fox Advisors upgraded Micron Technology from an “equal weight” rating to an “overweight” rating in a research report on Thursday, March 21st. Cantor Fitzgerald boosted their target price on Micron Technology from $135.00 to $150.00 and gave the stock an “overweight” rating in a research report on Monday, April 8th. JPMorgan Chase & Co. boosted their target price on Micron Technology from $105.00 to $130.00 and gave the stock an “overweight” rating in a research report on Thursday, March 21st. Stifel Nicolaus reiterated a “buy” rating and set a $140.00 target price on shares of Micron Technology in a research report on Friday, April 12th. Finally, Wedbush boosted their target price on Micron Technology from $103.00 to $130.00 and gave the stock an “outperform” rating in a research report on Thursday, March 21st. One analyst has rated the stock with a sell rating, two have given a hold rating and twenty-four have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $122.20.

Micron Technology Stock Up 3.1 %

Shares of MU stock traded up $3.34 during trading hours on Tuesday, reaching $112.46. The company had a trading volume of 17,854,605 shares, compared to its average volume of 20,590,105. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.40 and a current ratio of 3.74. Micron Technology, Inc. has a twelve month low of $58.03 and a twelve month high of $130.54. The company has a market capitalization of $124.53 billion, a P/E ratio of -32.60 and a beta of 1.27. The stock’s fifty day simple moving average is $104.04 and its 200 day simple moving average is $87.52.

Micron Technology (NASDAQ:MU) last issued its quarterly earnings results on Wednesday, March 20th. The semiconductor manufacturer reported $0.42 EPS for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.69. The firm had revenue of $5.82 billion during the quarter, compared to the consensus estimate of $5.35 billion. Micron Technology had a negative return on equity of 8.98% and a negative net margin of 20.57%. Micron Technology’s revenue for the quarter was up 57.7% on a year-over-year basis. During the same quarter in the prior year, the business posted ($2.03) earnings per share. As a group, sell-side analysts expect that Micron Technology, Inc. will post 0.24 earnings per share for the current fiscal year.

Micron Technology Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 16th. Shareholders of record on Monday, April 1st were issued a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a yield of 0.41%. The ex-dividend date of this dividend was Thursday, March 28th. Micron Technology’s dividend payout ratio is presently -13.33%.

Insiders Place Their Bets

In other news, CEO Sanjay Mehrotra sold 45,000 shares of the stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of $130.00, for a total transaction of $5,850,000.00. Following the sale, the chief executive officer now directly owns 728,557 shares in the company, valued at approximately $94,712,410. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP April S. Arnzen sold 4,890 shares of Micron Technology stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $119.30, for a total transaction of $583,377.00. Following the transaction, the executive vice president now directly owns 148,817 shares in the company, valued at approximately $17,753,868.10. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Sanjay Mehrotra sold 45,000 shares of Micron Technology stock in a transaction on Thursday, April 4th. The shares were sold at an average price of $130.00, for a total value of $5,850,000.00. Following the transaction, the chief executive officer now owns 728,557 shares in the company, valued at $94,712,410. The disclosure for this sale can be found here. Insiders have sold a total of 306,890 shares of company stock valued at $33,005,157 in the last quarter. Insiders own 0.32% of the company’s stock.

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.