E. Ohman J or Asset Management AB Grows Stock Holdings in Micron Technology, Inc. (NASDAQ:MU)

E. Ohman J or Asset Management AB lifted its position in Micron Technology, Inc. (NASDAQ:MU) by 11.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 49,930 shares of the semiconductor manufacturer’s stock after buying an additional 5,030 shares during the quarter. E. Ohman J or Asset Management AB’s holdings in Micron Technology were worth $4,202,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. Czech National Bank increased its position in shares of Micron Technology by 7.1% during the third quarter. Czech National Bank now owns 225,924 shares of the semiconductor manufacturer’s stock worth $23,431,000 after acquiring an additional 14,902 shares during the period. GAMMA Investing LLC grew its stake in Micron Technology by 12.1% during the 3rd quarter. GAMMA Investing LLC now owns 15,599 shares of the semiconductor manufacturer’s stock worth $1,618,000 after purchasing an additional 1,689 shares in the last quarter. Diversified Trust Co increased its holdings in Micron Technology by 37.0% during the 3rd quarter. Diversified Trust Co now owns 22,202 shares of the semiconductor manufacturer’s stock worth $2,303,000 after purchasing an additional 5,995 shares during the period. Eagle Rock Investment Company LLC raised its position in Micron Technology by 11.6% in the 3rd quarter. Eagle Rock Investment Company LLC now owns 64,102 shares of the semiconductor manufacturer’s stock valued at $6,648,000 after purchasing an additional 6,684 shares in the last quarter. Finally, Fulton Bank N.A. boosted its stake in shares of Micron Technology by 46.8% in the 3rd quarter. Fulton Bank N.A. now owns 9,175 shares of the semiconductor manufacturer’s stock valued at $952,000 after buying an additional 2,926 shares during the period. Institutional investors and hedge funds own 80.84% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on MU. Rosenblatt Securities reaffirmed a “buy” rating and issued a $250.00 target price on shares of Micron Technology in a report on Wednesday, December 18th. Robert W. Baird dropped their price objective on shares of Micron Technology from $150.00 to $130.00 and set an “outperform” rating on the stock in a research report on Thursday, December 19th. China Renaissance began coverage on shares of Micron Technology in a research report on Monday, October 28th. They set a “buy” rating and a $148.00 price objective for the company. Needham & Company LLC dropped their target price on Micron Technology from $140.00 to $120.00 and set a “buy” rating on the stock in a report on Thursday, December 19th. Finally, The Goldman Sachs Group decreased their price target on Micron Technology from $145.00 to $128.00 and set a “buy” rating for the company in a report on Thursday, December 19th. One research analyst has rated the stock with a sell rating, three have given a hold rating and twenty-three have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $134.96.

Micron Technology Trading Down 1.4 %

Shares of Micron Technology stock opened at $89.92 on Tuesday. The firm has a market cap of $100.19 billion, a price-to-earnings ratio of 25.91 and a beta of 1.18. Micron Technology, Inc. has a 52-week low of $79.15 and a 52-week high of $157.54. The company’s 50-day simple moving average is $97.43 and its 200-day simple moving average is $99.74. The company has a quick ratio of 1.75, a current ratio of 2.72 and a debt-to-equity ratio of 0.28.

Micron Technology (NASDAQ:MU) last issued its earnings results on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.60 by $0.19. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. The business had revenue of $8.71 billion during the quarter, compared to the consensus estimate of $8.71 billion. During the same period in the prior year, the business posted ($0.95) EPS. The company’s revenue for the quarter was up 84.3% on a year-over-year basis. As a group, equities research analysts anticipate that Micron Technology, Inc. will post 6.29 earnings per share for the current 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 issued a $0.115 dividend. The ex-dividend date was Monday, December 30th. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.51%. Micron Technology’s dividend payout ratio is presently 13.26%.

Insider Buying and Selling

In related news, EVP April S. Arnzen sold 4,890 shares of Micron Technology 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 completion of the transaction, the executive vice president now directly owns 181,223 shares of the company’s stock, valued at approximately $15,442,011.83. The trade was a 2.63 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 0.30% of the stock is owned by insiders.

Micron Technology 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.