Micron Technology, Inc. (NASDAQ:MU) Shares Acquired by Nomura Asset Management Co. Ltd.

Nomura Asset Management Co. Ltd. lifted its stake in shares of Micron Technology, Inc. (NASDAQ:MU) by 339.6% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,255,000 shares of the semiconductor manufacturer’s stock after purchasing an additional 1,742,073 shares during the period. Micron Technology comprises about 0.6% of Nomura Asset Management Co. Ltd.’s investment portfolio, making the stock its 24th biggest holding. Nomura Asset Management Co. Ltd. owned about 0.20% of Micron Technology worth $189,781,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. True Wealth Design LLC lifted its holdings in shares of Micron Technology by 1,096.3% in the third quarter. True Wealth Design LLC now owns 323 shares of the semiconductor manufacturer’s stock valued at $33,000 after buying an additional 296 shares during the period. Beacon Capital Management LLC boosted its holdings in Micron Technology by 114.9% during the fourth quarter. Beacon Capital Management LLC now owns 374 shares of the semiconductor manufacturer’s stock worth $31,000 after buying an additional 200 shares in the last quarter. Midwest Capital Advisors LLC acquired a new position in Micron Technology in the fourth quarter worth approximately $33,000. Comprehensive Financial Planning Inc. PA bought a new position in shares of Micron Technology in the fourth quarter valued at $34,000. Finally, Curio Wealth LLC acquired a new stake in shares of Micron Technology during the 4th quarter valued at $34,000. 80.84% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

MU has been the topic of several research analyst reports. Needham & Company LLC lowered their price objective on shares of Micron Technology from $140.00 to $120.00 and set a “buy” rating on the stock in a research report on Thursday, December 19th. Morgan Stanley raised their price objective on Micron Technology from $91.00 to $112.00 and gave the stock an “equal weight” rating in a research report on Friday, March 21st. China Renaissance cut shares of Micron Technology from a “buy” rating to a “hold” rating and set a $84.00 price target for the company. in a report on Wednesday. The Goldman Sachs Group lowered their price objective on shares of Micron Technology from $145.00 to $128.00 and set a “buy” rating on the stock in a research report on Thursday, December 19th. Finally, JPMorgan Chase & Co. cut their target price on shares of Micron Technology from $145.00 to $135.00 and set an “overweight” rating for the company in a research report on Friday, March 21st. One research analyst has rated the stock with a sell rating, three have issued a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $129.96.

Micron Technology Stock Performance

Shares of MU stock opened at $91.16 on Friday. The company has a current ratio of 2.72, a quick ratio of 1.75 and a debt-to-equity ratio of 0.28. The firm has a fifty day simple moving average of $96.35 and a two-hundred day simple moving average of $98.36. Micron Technology, Inc. has a 12 month low of $83.54 and a 12 month high of $157.54. The firm has a market capitalization of $101.88 billion, a PE ratio of 26.27 and a beta of 1.23.

Micron Technology (NASDAQ:MU) last announced its earnings results on Thursday, March 20th. The semiconductor manufacturer reported $1.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.43 by $0.13. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. The company had revenue of $8.05 billion for the quarter, compared to analysts’ expectations of $7.93 billion. During the same quarter in the previous year, the firm earned $0.42 earnings per share. Micron Technology’s quarterly revenue was up 38.2% on a year-over-year basis. Analysts forecast that Micron Technology, Inc. will post 6.08 EPS for the current fiscal year.

Micron Technology Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be given a dividend of $0.115 per share. This represents a $0.46 annualized dividend and a dividend yield of 0.50%. The ex-dividend date of this dividend is Monday, March 31st. Micron Technology’s dividend payout ratio is presently 11.03%.

Insider Activity

In related news, EVP April S. Arnzen sold 15,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 25th. The shares were sold at an average price of $96.18, for a total value of $1,442,700.00. Following the completion of the transaction, the executive vice president now directly owns 164,769 shares of the company’s stock, valued at approximately $15,847,482.42. This trade represents a 8.34 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Mary Pat Mccarthy sold 2,404 shares of Micron Technology stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $92.93, for a total value of $223,403.72. Following the completion of the transaction, the director now owns 27,358 shares of the company’s stock, valued at approximately $2,542,378.94. This trade represents a 8.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.30% 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.