AIA Group Ltd Has $403,000 Stake in Micron Technology, Inc. (NASDAQ:MU)

AIA Group Ltd lowered its holdings in Micron Technology, Inc. (NASDAQ:MU) by 17.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 4,720 shares of the semiconductor manufacturer’s stock after selling 1,027 shares during the quarter. AIA Group Ltd’s holdings in Micron Technology were worth $403,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Vanguard Group Inc. boosted its stake in Micron Technology by 0.3% in the third quarter. Vanguard Group Inc. now owns 94,229,187 shares of the semiconductor manufacturer’s stock worth $6,410,412,000 after purchasing an additional 305,860 shares in the last quarter. State Street Corp boosted its stake in Micron Technology by 2.4% in the first quarter. State Street Corp now owns 45,911,286 shares of the semiconductor manufacturer’s stock worth $2,770,316,000 after purchasing an additional 1,074,820 shares in the last quarter. FMR LLC boosted its stake in Micron Technology by 47.9% in the third quarter. FMR LLC now owns 21,899,184 shares of the semiconductor manufacturer’s stock worth $1,489,801,000 after purchasing an additional 7,089,790 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Micron Technology by 1.3% during the first quarter. Geode Capital Management LLC now owns 20,348,845 shares of the semiconductor manufacturer’s stock valued at $1,225,181,000 after acquiring an additional 253,179 shares during the period. Finally, Wellington Management Group LLP lifted its stake in shares of Micron Technology by 43.4% during the third quarter. Wellington Management Group LLP now owns 17,383,628 shares of the semiconductor manufacturer’s stock valued at $1,182,608,000 after acquiring an additional 5,257,201 shares during the period. Institutional investors and hedge funds own 80.84% of the company’s stock.

Analysts Set New Price Targets

MU has been the topic of several research reports. Wedbush upped their price target on Micron Technology from $103.00 to $130.00 and gave the company an “outperform” rating in a research note on Thursday, March 21st. Stifel Nicolaus reaffirmed a “buy” rating and set a $140.00 price target on shares of Micron Technology in a research note on Friday, April 12th. Citigroup reaffirmed a “buy” rating and set a $150.00 price target on shares of Micron Technology in a research note on Thursday, April 4th. Mizuho upped their price target on Micron Technology from $105.00 to $124.00 and gave the company a “buy” rating in a research note on Thursday, March 21st. Finally, Argus raised Micron Technology from a “hold” rating to a “buy” rating and set a $140.00 price target on the stock in a research note on Thursday, March 21st. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-four have issued a buy rating to the stock. Based on data from MarketBeat.com, Micron Technology presently has an average rating of “Moderate Buy” and a consensus target price of $122.20.

Micron Technology Price Performance

MU stock opened at $106.77 on Friday. The company has a quick ratio of 2.40, a current ratio of 3.74 and a debt-to-equity ratio of 0.30. The business has a 50-day moving average of $102.95 and a 200-day moving average of $86.67. Micron Technology, Inc. has a fifty-two week low of $58.03 and a fifty-two week high of $130.54.

Micron Technology (NASDAQ:MU) last posted its quarterly earnings data on Wednesday, March 20th. The semiconductor manufacturer reported $0.42 earnings per share for the quarter, topping the consensus estimate of ($0.27) by $0.69. The company had revenue of $5.82 billion during the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same period in the prior year, the firm earned ($2.03) earnings per share. On average, equities analysts anticipate that Micron Technology, Inc. will post 0.24 EPS for the current fiscal year.

Micron Technology Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 16th. Investors of record on Monday, April 1st were given a dividend of $0.115 per share. The ex-dividend date was Thursday, March 28th. This represents a $0.46 annualized dividend and a yield of 0.43%. Micron Technology’s dividend payout ratio (DPR) is presently -13.33%.

Insider Activity at Micron Technology

In other news, CEO Sanjay Mehrotra sold 7,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 23rd. The stock was sold at an average price of $87.41, for a total value of $611,870.00. Following the completion of the sale, the chief executive officer now directly owns 642,251 shares of the company’s stock, valued at $56,139,159.91. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, EVP April S. Arnzen sold 4,890 shares of the stock in a transaction that occurred 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 owns 148,817 shares in the company, valued at $17,753,868.10. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Sanjay Mehrotra sold 7,000 shares of the stock in a transaction that occurred on Tuesday, January 23rd. The stock was sold at an average price of $87.41, for a total value of $611,870.00. Following the transaction, the chief executive officer now owns 642,251 shares in the company, valued at approximately $56,139,159.91. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 313,890 shares of company stock valued at $33,617,027. Insiders own 0.32% 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.