FIFTHDELTA Ltd Makes New Investment in Micron Technology, Inc. (NASDAQ:MU)

FIFTHDELTA Ltd acquired a new position in shares of Micron Technology, Inc. (NASDAQ:MUGet Rating) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 868,800 shares of the semiconductor manufacturer’s stock, valued at approximately $67,671,000. Micron Technology accounts for approximately 6.9% of FIFTHDELTA Ltd’s holdings, making the stock its 10th largest holding.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Capital World Investors increased its holdings in shares of Micron Technology by 84.5% in the 4th quarter. Capital World Investors now owns 27,419,458 shares of the semiconductor manufacturer’s stock valued at $2,554,123,000 after purchasing an additional 12,554,989 shares during the period. Norges Bank acquired a new position in shares of Micron Technology in the 4th quarter valued at about $1,052,794,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its holdings in shares of Micron Technology by 558.6% in the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 6,777,963 shares of the semiconductor manufacturer’s stock valued at $636,395,000 after purchasing an additional 5,748,883 shares during the period. Renaissance Technologies LLC increased its holdings in shares of Micron Technology by 148.7% in the 4th quarter. Renaissance Technologies LLC now owns 4,066,036 shares of the semiconductor manufacturer’s stock valued at $378,751,000 after purchasing an additional 2,431,300 shares during the period. Finally, Los Angeles Capital Management LLC increased its holdings in shares of Micron Technology by 488.4% in the 1st quarter. Los Angeles Capital Management LLC now owns 2,717,529 shares of the semiconductor manufacturer’s stock valued at $211,668,000 after purchasing an additional 2,255,694 shares during the period. Institutional investors and hedge funds own 79.66% of the company’s stock.

Analyst Ratings Changes

MU has been the topic of a number of research reports. Bank of America downgraded Micron Technology from a “buy” rating to a “neutral” rating and dropped their target price for the company from $70.00 to $62.00 in a report on Friday, July 1st. Rosenblatt Securities lowered their price target on Micron Technology from $165.00 to $100.00 and set a “buy” rating for the company in a research note on Friday, July 1st. UBS Group lowered their price target on Micron Technology from $115.00 to $100.00 and set a “buy” rating for the company in a research note on Tuesday, June 28th. Deutsche Bank Aktiengesellschaft lowered their price target on Micron Technology from $70.00 to $68.00 and set a “buy” rating for the company in a research note on Wednesday, August 10th. Finally, Morgan Stanley cut Micron Technology from an “equal weight” rating to an “underweight” rating and set a $56.00 price target for the company. in a research note on Friday, July 22nd. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and twenty-three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $86.54.

Micron Technology Trading Up 0.9 %

Shares of Micron Technology stock opened at $57.94 on Tuesday. The firm has a market capitalization of $63.92 billion, a PE ratio of 6.61, a price-to-earnings-growth ratio of 0.83 and a beta of 1.30. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.24 and a quick ratio of 2.44. The company’s fifty day moving average price is $59.90 and its two-hundred day moving average price is $67.18. Micron Technology, Inc. has a 52-week low of $51.40 and a 52-week high of $98.45.

Micron Technology (NASDAQ:MUGet Rating) last posted its earnings results on Thursday, June 30th. The semiconductor manufacturer reported $2.50 earnings per share for the quarter, topping the consensus estimate of $2.33 by $0.17. Micron Technology had a net margin of 30.61% and a return on equity of 21.91%. The business had revenue of $8.64 billion for the quarter, compared to analyst estimates of $8.66 billion. During the same quarter in the prior year, the firm earned $1.81 EPS. The firm’s quarterly revenue was up 16.4% compared to the same quarter last year. On average, analysts expect that Micron Technology, Inc. will post 8 EPS for the current year.

Micron Technology Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 26th. Stockholders of record on Monday, July 11th were issued a $0.115 dividend. This is a positive change from Micron Technology’s previous quarterly dividend of $0.10. The ex-dividend date of this dividend was Friday, July 8th. This represents a $0.46 annualized dividend and a dividend yield of 0.79%. Micron Technology’s dividend payout ratio is presently 5.25%.

Insider Transactions at Micron Technology

In other news, SVP Michael W. Bokan sold 16,600 shares of the company’s stock in a transaction dated Tuesday, August 16th. The shares were sold at an average price of $63.82, for a total value of $1,059,412.00. Following the sale, the senior vice president now owns 119,126 shares of the company’s stock, valued at approximately $7,602,621.32. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.32% of the stock is owned by insiders.

Micron Technology Company Profile

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Micron Technology, Inc designs, manufactures, and sells memory and storage products worldwide. The company operates through four segments: Compute and Networking Business Unit, Mobile Business Unit, Storage Business Unit, and Embedded Business Unit. It provides memory and storage technologies comprises DRAM products, which are dynamic random access memory semiconductor devices with low latency that provide high-speed data retrieval; NAND products that are non-volatile and re-writeable semiconductor storage devices; and NOR memory products, which are non-volatile re-writable semiconductor memory devices that provide fast read speeds under the Micron and Crucial brands, as well as through private labels.

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Institutional Ownership by Quarter for Micron Technology (NASDAQ:MU)

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