Micron Technology, Inc. (NASDAQ:MU) Holdings Lifted by Alpine Investment Management Ltd

Alpine Investment Management Ltd increased its position in Micron Technology, Inc. (NASDAQ:MU) by 217.1% in the 4th quarter, HoldingsChannel reports. The fund owned 325,000 shares of the semiconductor manufacturer’s stock after purchasing an additional 222,500 shares during the period. Micron Technology accounts for about 7.7% of Alpine Investment Management Ltd’s holdings, making the stock its 4th biggest position. Alpine Investment Management Ltd’s holdings in Micron Technology were worth $27,352,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Resona Asset Management Co. Ltd. purchased a new position in Micron Technology in the 4th quarter valued at approximately $26,898,000. Pamalican Asset Management Ltd purchased a new position in shares of Micron Technology in the fourth quarter valued at $4,721,000. Prudential PLC raised its stake in shares of Micron Technology by 8.2% during the 4th quarter. Prudential PLC now owns 150,589 shares of the semiconductor manufacturer’s stock valued at $12,674,000 after purchasing an additional 11,450 shares during the period. Landscape Capital Management L.L.C. boosted its stake in Micron Technology by 167.0% in the 4th quarter. Landscape Capital Management L.L.C. now owns 45,758 shares of the semiconductor manufacturer’s stock worth $3,851,000 after purchasing an additional 28,621 shares during the period. Finally, Thoroughbred Financial Services LLC grew its holdings in Micron Technology by 0.8% during the 4th quarter. Thoroughbred Financial Services LLC now owns 19,295 shares of the semiconductor manufacturer’s stock valued at $1,623,000 after buying an additional 156 shares in the last quarter. 80.84% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Micron Technology news, EVP April S. Arnzen sold 15,000 shares of the business’s stock in a transaction on Tuesday, March 25th. The shares were sold at an average price of $96.18, for a total transaction of $1,442,700.00. Following the transaction, the executive vice president now directly owns 164,769 shares of the company’s stock, valued at approximately $15,847,482.42. The trade was a 8.34 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Mary Pat Mccarthy sold 2,404 shares of the firm’s stock in a transaction dated Monday, March 3rd. The stock was 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 directly owns 27,358 shares of the company’s stock, 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. Company insiders own 0.30% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on MU. Barclays raised their price objective on shares of Micron Technology from $110.00 to $115.00 and gave the company an “overweight” rating in a research report on Friday, March 21st. Mizuho reduced their price target on shares of Micron Technology from $135.00 to $115.00 and set an “outperform” rating for the company in a research report on Thursday, December 19th. Wedbush reaffirmed an “outperform” rating and issued a $125.00 price target on shares of Micron Technology in a report on Monday, March 17th. Citigroup dropped their price objective on Micron Technology from $150.00 to $120.00 and set a “buy” rating for the company in a research note on Friday, March 21st. Finally, Wells Fargo & Company decreased their target price on Micron Technology from $140.00 to $130.00 and set an “overweight” rating on the stock in a research note on Thursday, March 13th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $129.76.

Micron Technology Stock Down 12.9 %

Shares of Micron Technology stock opened at $64.72 on Friday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.75 and a current ratio of 2.72. Micron Technology, Inc. has a 52-week low of $63.86 and a 52-week high of $157.54. The company’s 50 day moving average price is $93.42 and its 200-day moving average price is $98.10. The stock has a market capitalization of $72.33 billion, a price-to-earnings ratio of 18.65 and a beta of 1.23.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings results on Thursday, March 20th. The semiconductor manufacturer reported $1.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.43 by $0.13. The business had revenue of $8.05 billion for the quarter, compared to analyst estimates of $7.93 billion. Micron Technology had a net margin of 13.34% and a return on equity of 8.32%. The company’s revenue was up 38.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.42 EPS. Equities research analysts forecast 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 will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be given a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a yield of 0.71%. The ex-dividend date is Monday, March 31st. Micron Technology’s payout ratio is 11.03%.

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.