Ameliora Wealth Management Ltd. Boosts Stock Holdings in Micron Technology, Inc. (NASDAQ:MU)

Ameliora Wealth Management Ltd. grew its position in shares of Micron Technology, Inc. (NASDAQ:MU) by 41.0% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 2,011 shares of the semiconductor manufacturer’s stock after acquiring an additional 585 shares during the quarter. Ameliora Wealth Management Ltd.’s holdings in Micron Technology were worth $169,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Harmony Asset Management LLC raised its holdings in shares of Micron Technology by 75.6% in the third quarter. Harmony Asset Management LLC now owns 11,889 shares of the semiconductor manufacturer’s stock worth $1,233,000 after buying an additional 5,120 shares during the period. Lazard Freres Gestion S.A.S. boosted its stake in shares of Micron Technology by 241.7% during the third quarter. Lazard Freres Gestion S.A.S. now owns 41,000 shares of the semiconductor manufacturer’s stock valued at $4,252,000 after purchasing an additional 29,000 shares during the period. Chartwell Investment Partners LLC lifted its holdings in Micron Technology by 26.4% during the 3rd quarter. Chartwell Investment Partners LLC now owns 195,115 shares of the semiconductor manufacturer’s stock valued at $20,236,000 after buying an additional 40,802 shares in the last quarter. Stablepoint Partners LLC bought a new position in Micron Technology in the 4th quarter worth about $569,000. Finally, State Street Corp grew its stake in Micron Technology by 3.1% in the third quarter. State Street Corp now owns 48,226,710 shares of the semiconductor manufacturer’s stock worth $5,001,592,000 after purchasing an additional 1,434,568 shares in the last quarter. Hedge funds and other institutional investors own 80.84% of the company’s stock.

Micron Technology Stock Up 1.0 %

Shares of NASDAQ MU opened at $94.54 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. Micron Technology, Inc. has a 12-month low of $79.15 and a 12-month high of $157.54. The stock has a market cap of $105.33 billion, a P/E ratio of 27.24 and a beta of 1.18. The business’s fifty day simple moving average is $96.82 and its 200-day simple moving average is $99.34.

Micron Technology (NASDAQ:MU) last posted its 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%. Micron Technology’s revenue for the quarter was up 84.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.95) earnings per share. As a group, equities analysts predict that Micron Technology, Inc. will post 6.29 EPS for the current fiscal year.

Micron Technology Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Monday, December 30th were paid a dividend of $0.115 per share. This represents a $0.46 annualized dividend and a dividend yield of 0.49%. The ex-dividend date of this dividend was Monday, December 30th. Micron Technology’s dividend payout ratio (DPR) is presently 13.26%.

Insider Activity at Micron Technology

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of the business’s stock in a transaction on Friday, December 20th. The stock was sold at an average price of $85.21, for a total transaction of $416,676.90. Following the sale, the executive vice president now directly owns 181,223 shares in the company, valued at approximately $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 can be accessed through this link. 0.30% of the stock is currently owned by insiders.

Analysts Set New Price Targets

MU has been the topic of a number of analyst reports. Wedbush reiterated an “outperform” rating and issued a $140.00 price target on shares of Micron Technology in a report on Tuesday, December 17th. The Goldman Sachs Group lowered their price target on Micron Technology from $145.00 to $128.00 and set a “buy” rating for the company in a research report on Thursday, December 19th. Rosenblatt Securities restated a “buy” rating and issued a $250.00 price objective on shares of Micron Technology in a research note on Wednesday, December 18th. Sanford C. Bernstein dropped their target price on Micron Technology from $140.00 to $120.00 and set an “outperform” rating on the stock in a research report on Wednesday, December 18th. Finally, Stifel Nicolaus decreased their price objective on shares of Micron Technology from $135.00 to $130.00 and set a “buy” rating for the company in a research note on Thursday, December 19th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $134.96.

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.