AIA Group Ltd Buys 101 Shares of Micron Technology, Inc. (NASDAQ:MU)

AIA Group Ltd lifted its stake in shares of Micron Technology, Inc. (NASDAQ:MU) by 2.1% in the first quarter, according to its most recent filing with the SEC. The fund owned 4,821 shares of the semiconductor manufacturer’s stock after acquiring an additional 101 shares during the period. AIA Group Ltd’s holdings in Micron Technology were worth $568,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. DecisionPoint Financial LLC bought a new stake in Micron Technology in the first quarter worth $25,000. Valued Wealth Advisors LLC lifted its stake in Micron Technology by 230.7% in the first quarter. Valued Wealth Advisors LLC now owns 248 shares of the semiconductor manufacturer’s stock worth $29,000 after purchasing an additional 173 shares during the last quarter. Tidemark LLC purchased a new position in shares of Micron Technology in the fourth quarter valued at about $25,000. Pingora Partners LLC purchased a new position in shares of Micron Technology in the fourth quarter valued at about $26,000. Finally, Riverview Trust Co purchased a new position in shares of Micron Technology in the first quarter valued at about $39,000. 80.84% of the stock is owned by institutional investors.

Micron Technology Price Performance

MU traded up $3.32 during trading on Friday, hitting $133.55. 19,692,516 shares of the company traded hands, compared to its average volume of 20,844,576. The company has a market cap of $148.09 billion, a PE ratio of -94.05 and a beta of 1.18. The stock’s 50-day simple moving average is $132.22 and its two-hundred day simple moving average is $109.62. Micron Technology, Inc. has a 1 year low of $61.75 and a 1 year high of $157.54. The company has a current ratio of 3.41, a quick ratio of 2.16 and a debt-to-equity ratio of 0.29.

Micron Technology (NASDAQ:MU) last posted its earnings results on Wednesday, June 26th. The semiconductor manufacturer reported $0.62 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.14. The company had revenue of $6.81 billion during the quarter, compared to analysts’ expectations of $6.67 billion. Micron Technology had a negative net margin of 7.20% and a negative return on equity of 4.01%. Micron Technology’s quarterly revenue was up 81.5% on a year-over-year basis. During the same period last year, the company posted ($1.57) earnings per share. As a group, sell-side analysts anticipate that Micron Technology, Inc. will post 0.58 earnings per share for the current fiscal year.

Micron Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 23rd. Shareholders of record on Monday, July 8th will be given a dividend of $0.115 per share. The ex-dividend date of this dividend is Monday, July 8th. This represents a $0.46 annualized dividend and a yield of 0.34%. Micron Technology’s dividend payout ratio (DPR) is currently -32.39%.

Analyst Ratings Changes

MU has been the topic of a number of analyst reports. Barclays boosted their price objective on shares of Micron Technology from $120.00 to $145.00 and gave the company an “overweight” rating in a research report on Monday, May 13th. Fox Advisors upgraded shares of Micron Technology from an “equal weight” rating to an “overweight” rating in a research report on Thursday, March 21st. Morgan Stanley boosted their price target on shares of Micron Technology from $130.00 to $140.00 and gave the company an “equal weight” rating in a research report on Monday, June 24th. The Goldman Sachs Group boosted their price target on shares of Micron Technology from $138.00 to $158.00 and gave the company a “buy” rating in a research report on Thursday, June 27th. Finally, Rosenblatt Securities reiterated a “buy” rating and set a $225.00 price target on shares of Micron Technology in a research report on Tuesday, June 25th. Two equities research analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $158.72.

Insider Buying and Selling at Micron Technology

In other news, SVP Michael W. Bokan sold 15,000 shares of the firm’s stock in a transaction dated Tuesday, April 30th. The shares were sold at an average price of $115.55, for a total value of $1,733,250.00. Following the completion of the sale, the senior vice president now owns 153,387 shares in the company, valued at approximately $17,723,867.85. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, EVP Scott J. Deboer sold 40,000 shares of the firm’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $110.31, for a total value of $4,412,400.00. Following the transaction, the executive vice president now owns 158,617 shares of the company’s stock, valued at approximately $17,497,041.27. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Michael W. Bokan sold 15,000 shares of the firm’s stock in a transaction dated Tuesday, April 30th. The stock was sold at an average price of $115.55, for a total transaction of $1,733,250.00. Following the completion of the transaction, the senior vice president now directly owns 153,387 shares in the company, valued at approximately $17,723,867.85. The disclosure for this sale can be found here. Insiders sold 250,730 shares of company stock worth $31,063,449 over the last 90 days. 0.32% of the stock is owned by insiders.

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.