Micron Technology, Inc. (NASDAQ:MU) Holdings Raised by AEGON ASSET MANAGEMENT UK Plc

AEGON ASSET MANAGEMENT UK Plc boosted its position in shares of Micron Technology, Inc. (NASDAQ:MU) by 33.7% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 588,106 shares of the semiconductor manufacturer’s stock after purchasing an additional 148,357 shares during the period. AEGON ASSET MANAGEMENT UK Plc owned 0.05% of Micron Technology worth $51,095,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. grew its position in Micron Technology by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 99,857,205 shares of the semiconductor manufacturer’s stock worth $8,403,982,000 after buying an additional 888,087 shares in the last quarter. FMR LLC grew its position in Micron Technology by 34.6% during the 4th quarter. FMR LLC now owns 47,672,462 shares of the semiconductor manufacturer’s stock worth $4,012,114,000 after acquiring an additional 12,249,341 shares during the last quarter. Capital World Investors raised its stake in shares of Micron Technology by 63.7% in the fourth quarter. Capital World Investors now owns 41,096,391 shares of the semiconductor manufacturer’s stock worth $3,458,673,000 after acquiring an additional 15,993,036 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Micron Technology by 3.1% in the 4th quarter. Geode Capital Management LLC now owns 24,449,827 shares of the semiconductor manufacturer’s stock valued at $2,052,973,000 after purchasing an additional 726,282 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of Micron Technology in the 4th quarter valued at about $1,470,875,000. 80.84% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. KGI Securities upgraded Micron Technology to a “strong-buy” rating in a research note on Friday, February 21st. Cantor Fitzgerald reissued an “overweight” rating and issued a $130.00 price objective on shares of Micron Technology in a research note on Friday, March 21st. Wall Street Zen lowered shares of Micron Technology from a “buy” rating to a “hold” rating in a report on Saturday, May 24th. Wedbush reiterated an “underperform” rating on shares of Micron Technology in a research report on Monday, April 28th. Finally, Wells Fargo & Company restated an “equal weight” rating on shares of Micron Technology in a report on Monday, April 28th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $126.48.

Micron Technology Stock Performance

NASDAQ:MU opened at $98.18 on Tuesday. 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 company’s 50-day moving average price is $82.67 and its 200-day moving average price is $91.88. Micron Technology, Inc. has a twelve month low of $61.54 and a twelve month high of $157.54. The company has a market cap of $109.72 billion, a P/E ratio of 28.29 and a beta of 1.21.

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

Micron Technology Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were paid a dividend of $0.115 per share. The ex-dividend date of this dividend was Monday, March 31st. This represents a $0.46 dividend on an annualized basis and a yield of 0.47%. Micron Technology’s dividend payout ratio is presently 11.03%.

Insider Activity

In related news, EVP April S. Arnzen sold 15,000 shares of Micron Technology stock in a transaction on Tuesday, March 25th. The stock was sold at an average price of $96.18, for a total value of $1,442,700.00. Following the transaction, the executive vice president now owns 164,769 shares in the company, valued at approximately $15,847,482.42. This trade represents a 8.34% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Mary Pat Mccarthy sold 2,404 shares of the firm’s stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $80.00, for a total value of $192,320.00. Following the completion of the transaction, the director now directly owns 24,954 shares in the company, valued at $1,996,320. This trade represents a 8.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate 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.