BIT Capital GmbH Grows Position in Micron Technology, Inc. (NASDAQ:MU)

BIT Capital GmbH boosted its holdings in Micron Technology, Inc. (NASDAQ:MU) by 1.3% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 442,508 shares of the semiconductor manufacturer’s stock after buying an additional 5,853 shares during the quarter. Micron Technology accounts for approximately 3.0% of BIT Capital GmbH’s holdings, making the stock its 13th biggest position. BIT Capital GmbH’s holdings in Micron Technology were worth $37,241,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of MU. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Micron Technology by 21.7% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 11,326,224 shares of the semiconductor manufacturer’s stock valued at $1,174,643,000 after acquiring an additional 2,022,180 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of Micron Technology during the 4th quarter valued at about $135,865,000. State Street Corp lifted its stake in shares of Micron Technology by 3.1% in the 3rd 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 during the period. Worldquant Millennium Advisors LLC boosted its holdings in shares of Micron Technology by 254.4% in the third quarter. Worldquant Millennium Advisors LLC now owns 1,859,416 shares of the semiconductor manufacturer’s stock worth $192,840,000 after buying an additional 1,334,690 shares during the last quarter. Finally, Bridgewater Associates LP bought a new stake in Micron Technology during the third quarter valued at approximately $102,018,000. Institutional investors own 80.84% of the company’s stock.

Insider Activity at Micron Technology

In related news, Director Mary Pat Mccarthy sold 2,404 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $92.93, for a total transaction of $223,403.72. Following the sale, the director now owns 27,358 shares in the company, valued at approximately $2,542,378.94. This represents a 8.08 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.30% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research firms have weighed in on MU. Stifel Nicolaus decreased their price target on shares of Micron Technology from $135.00 to $130.00 and set a “buy” rating on the stock in a research report on Thursday, December 19th. Needham & Company LLC lowered their target price on Micron Technology from $140.00 to $120.00 and set a “buy” rating on the stock in a research report on Thursday, December 19th. Robert W. Baird upped their price target on Micron Technology from $130.00 to $163.00 and gave the stock an “outperform” rating in a research report on Friday, March 21st. China Renaissance cut Micron Technology from a “buy” rating to a “hold” rating and set a $84.00 price objective on the stock. in a research report on Wednesday. Finally, Wells Fargo & Company reduced their target price on shares of Micron Technology from $140.00 to $130.00 and set an “overweight” rating for the company in a report on Thursday, March 13th. One research analyst has rated the stock with a sell rating, three have given a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $129.96.

Micron Technology Price Performance

Shares of Micron Technology stock opened at $92.13 on Thursday. 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 has a 50 day moving average of $96.58 and a 200 day moving average of $98.41. The firm has a market cap of $102.65 billion, a PE ratio of 26.55 and a beta of 1.23.

Micron Technology (NASDAQ:MU) last posted its earnings results on Thursday, March 20th. The semiconductor manufacturer reported $1.56 earnings per share for the quarter, beating analysts’ consensus estimates of $1.43 by $0.13. Micron Technology had a net margin of 13.34% and a return on equity of 8.32%. The firm had revenue of $8.05 billion during the quarter, compared to analyst estimates of $7.93 billion. During the same period last year, the firm posted $0.42 earnings per share. Micron Technology’s revenue for the quarter was up 38.2% compared to the same quarter last year. On average, research analysts expect that Micron Technology, Inc. will post 6.08 EPS for the current fiscal year.

Micron Technology Dividend Announcement

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 11.03%.

About Micron Technology

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.