3,292 Shares in Micron Technology, Inc. (NASDAQ:MU) Purchased by Valliance Asset Management Ltd

Valliance Asset Management Ltd purchased a new position in Micron Technology, Inc. (NASDAQ:MU) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 3,292 shares of the semiconductor manufacturer’s stock, valued at approximately $277,000. Micron Technology makes up 0.5% of Valliance Asset Management Ltd’s investment portfolio, making the stock its 16th largest holding.

A number of other hedge funds also recently bought and sold shares of the company. Stonebrook Private Inc. boosted its position in shares of Micron Technology by 4.2% during the 3rd quarter. Stonebrook Private Inc. now owns 2,454 shares of the semiconductor manufacturer’s stock valued at $255,000 after acquiring an additional 98 shares during the last quarter. John G Ullman & Associates Inc. boosted its position in shares of Micron Technology by 2.5% during the 3rd quarter. John G Ullman & Associates Inc. now owns 4,063 shares of the semiconductor manufacturer’s stock valued at $421,000 after acquiring an additional 100 shares during the last quarter. Trivant Custom Portfolio Group LLC boosted its position in shares of Micron Technology by 20.0% during the 4th quarter. Trivant Custom Portfolio Group LLC now owns 600 shares of the semiconductor manufacturer’s stock valued at $50,000 after acquiring an additional 100 shares during the last quarter. PDS Planning Inc boosted its position in shares of Micron Technology by 2.4% during the 3rd quarter. PDS Planning Inc now owns 4,382 shares of the semiconductor manufacturer’s stock valued at $454,000 after acquiring an additional 104 shares during the last quarter. Finally, Lebenthal Global Advisors LLC boosted its position in shares of Micron Technology by 1.5% during the 4th quarter. Lebenthal Global Advisors LLC now owns 7,474 shares of the semiconductor manufacturer’s stock valued at $629,000 after acquiring an additional 114 shares during the last quarter. Institutional investors own 80.84% of the company’s stock.

Micron Technology Stock Performance

Shares of Micron Technology stock opened at $98.78 on Friday. The firm has a market cap of $110.06 billion, a P/E ratio of 28.47 and a beta of 1.18. The company has a current ratio of 2.72, a quick ratio of 1.75 and a debt-to-equity ratio of 0.28. Micron Technology, Inc. has a 12 month low of $83.54 and a 12 month high of $157.54. The stock’s fifty day moving average price is $96.28 and its 200-day moving average price is $98.82.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings results on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 EPS for the quarter, beating the consensus estimate of $1.60 by $0.19. The firm had revenue of $8.71 billion for the quarter, compared to analyst estimates of $8.71 billion. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. The business’s revenue for the quarter was up 84.3% on a year-over-year basis. During the same quarter last year, the firm posted ($0.95) earnings per share. On average, equities research analysts expect that Micron Technology, Inc. will post 6.08 earnings per share for the current fiscal year.

Micron Technology Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Monday, December 30th were paid a $0.115 dividend. The ex-dividend date was Monday, December 30th. This represents a $0.46 annualized dividend and a yield of 0.47%. Micron Technology’s dividend payout ratio (DPR) is presently 13.26%.

Analysts Set New Price Targets

A number of analysts recently issued reports on MU shares. Cantor Fitzgerald lowered their price target on Micron Technology from $150.00 to $130.00 and set an “overweight” rating for the company in a research report on Thursday, December 19th. Needham & Company LLC lowered their price target on Micron Technology from $140.00 to $120.00 and set a “buy” rating for the company in a research report on Thursday, December 19th. Robert W. Baird lowered their price target on Micron Technology from $150.00 to $130.00 and set an “outperform” rating for the company in a research report on Thursday, December 19th. Rosenblatt Securities restated a “buy” rating and issued a $250.00 price target on shares of Micron Technology in a research report on Wednesday, December 18th. Finally, Mizuho lowered their price target on Micron Technology from $135.00 to $115.00 and set an “outperform” rating for the company in a research report on Thursday, December 19th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-three have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $134.96.

Insider Buying and Selling at Micron Technology

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of Micron Technology stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $85.21, for a total value of $416,676.90. Following the transaction, the executive vice president now owns 181,223 shares in the company, valued at $15,442,011.83. The trade was a 2.63 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.30% of the stock is owned by insiders.

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.