Tokio Marine Asset Management Co. Ltd. Increases Stock Holdings in Micron Technology, Inc. (NASDAQ:MU)

Tokio Marine Asset Management Co. Ltd. grew its stake in Micron Technology, Inc. (NASDAQ:MU) by 6.5% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 25,340 shares of the semiconductor manufacturer’s stock after purchasing an additional 1,543 shares during the period. Tokio Marine Asset Management Co. Ltd.’s holdings in Micron Technology were worth $2,163,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of the business. Vanguard Group Inc. grew its holdings in shares of Micron Technology by 0.3% during 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 during the last quarter. FMR LLC raised its stake in shares of Micron Technology by 47.9% in the 3rd quarter. FMR LLC now owns 21,899,184 shares of the semiconductor manufacturer’s stock valued at $1,489,801,000 after purchasing an additional 7,089,790 shares in the last quarter. Wellington Management Group LLP grew its position in shares of Micron Technology by 43.4% during the 3rd quarter. Wellington Management Group LLP now owns 17,383,628 shares of the semiconductor manufacturer’s stock valued at $1,182,608,000 after buying an additional 5,257,201 shares during the last quarter. Morgan Stanley increased its stake in shares of Micron Technology by 19.7% in the third quarter. Morgan Stanley now owns 17,303,400 shares of the semiconductor manufacturer’s stock valued at $1,177,151,000 after purchasing an additional 2,852,688 shares during the period. Finally, Northern Trust Corp increased its stake in shares of Micron Technology by 0.7% during the third quarter. Northern Trust Corp now owns 10,833,670 shares of the semiconductor manufacturer’s stock valued at $737,015,000 after acquiring an additional 80,345 shares during the period. Institutional investors and hedge funds own 80.84% of the company’s stock.

Micron Technology Stock Up 0.9 %

MU stock traded up $1.02 during mid-day trading on Thursday, reaching $112.80. The company had a trading volume of 9,240,202 shares, compared to its average volume of 20,436,871. The firm has a fifty day simple moving average of $104.64 and a 200 day simple moving average of $87.69. Micron Technology, Inc. has a fifty-two week low of $59.34 and a fifty-two week high of $130.54. The company has a market capitalization of $124.91 billion, a price-to-earnings ratio of -32.14 and a beta of 1.27. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.40 and a current ratio of 3.74.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings data on Wednesday, March 20th. The semiconductor manufacturer reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.27) by $0.69. Micron Technology had a negative return on equity of 8.98% and a negative net margin of 20.57%. The firm had revenue of $5.82 billion for the quarter, compared to analysts’ expectations of $5.35 billion. During the same quarter in the prior year, the firm posted ($2.03) earnings per share. Micron Technology’s revenue for the quarter was up 57.7% compared to the same quarter last year. Analysts forecast that Micron Technology, Inc. will post 0.24 earnings per share for the current fiscal year.

Micron Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 16th. Stockholders of record on Monday, April 1st were issued a dividend of $0.115 per share. This represents a $0.46 annualized dividend and a dividend yield of 0.41%. The ex-dividend date of this dividend was Thursday, March 28th. Micron Technology’s dividend payout ratio (DPR) is presently -13.33%.

Insider Buying and Selling 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, April 16th. The stock was sold at an average price of $120.70, for a total value of $844,900.00. Following the transaction, the chief executive officer now owns 719,049 shares in the company, valued at $86,789,214.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Sanjay Mehrotra sold 7,000 shares of the firm’s stock in a transaction on Tuesday, April 16th. The stock was sold at an average price of $120.70, for a total value of $844,900.00. Following the transaction, the chief executive officer now directly owns 719,049 shares in the company, valued at approximately $86,789,214.30. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP April S. Arnzen sold 4,890 shares of the business’s stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $119.30, for a total value of $583,377.00. Following the sale, the executive vice president now directly owns 148,817 shares in the company, valued at $17,753,868.10. The disclosure for this sale can be found here. In the last quarter, insiders have sold 261,890 shares of company stock worth $28,955,157. Corporate insiders own 0.32% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on MU shares. Fox Advisors upgraded shares of Micron Technology from an “equal weight” rating to an “overweight” rating in a report on Thursday, March 21st. StockNews.com raised shares of Micron Technology from a “sell” rating to a “hold” rating in a research note on Friday, March 22nd. Bank of America upped their price target on shares of Micron Technology from $120.00 to $144.00 and gave the stock a “buy” rating in a research report on Monday, April 1st. Needham & Company LLC raised their price target on shares of Micron Technology from $100.00 to $120.00 and gave the stock a “buy” rating in a research report on Thursday, March 21st. Finally, Cantor Fitzgerald lifted their target price on shares of Micron Technology from $135.00 to $150.00 and gave the stock an “overweight” rating in a research report on Monday, April 8th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-four have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $122.20.

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.