Y Intercept Hong Kong Ltd Takes $2.08 Million Position in Micron Technology, Inc. (NASDAQ:MU)

Y Intercept Hong Kong Ltd purchased a new stake in Micron Technology, Inc. (NASDAQ:MU) in the 4th quarter, HoldingsChannel.com reports. The institutional investor purchased 24,722 shares of the semiconductor manufacturer’s stock, valued at approximately $2,081,000.

Other hedge funds have also made changes to their positions in the company. Van ECK Associates Corp boosted its position in shares of Micron Technology by 30.6% during the 3rd quarter. Van ECK Associates Corp now owns 10,564,198 shares of the semiconductor manufacturer’s stock worth $1,109,769,000 after purchasing an additional 2,477,985 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Micron Technology by 21.7% during the 3rd 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 worth $1,174,643,000 after purchasing an additional 2,022,180 shares during the period. State Street Corp boosted its position in shares of Micron Technology by 3.1% during 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 position in shares of Micron Technology by 254.4% during the 3rd quarter. Worldquant Millennium Advisors LLC now owns 1,859,416 shares of the semiconductor manufacturer’s stock worth $192,840,000 after purchasing an additional 1,334,690 shares during the period. Finally, Bridgewater Associates LP purchased a new position in shares of Micron Technology during the 3rd quarter worth approximately $102,018,000. Hedge funds and other institutional investors own 80.84% of the company’s stock.

Micron Technology Price Performance

Shares of MU opened at $95.41 on Tuesday. Micron Technology, Inc. has a 1-year low of $83.54 and a 1-year high of $157.54. The stock has a market cap of $106.30 billion, a PE ratio of 27.50 and a beta of 1.18. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.72 and a quick ratio of 1.75. The firm has a fifty day moving average price of $96.02 and a 200 day moving average price of $98.93.

Micron Technology (NASDAQ:MU) last announced its earnings results on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 EPS for the quarter, beating analysts’ consensus estimates of $1.60 by $0.19. Micron Technology had a net margin of 13.34% and a return on equity of 8.32%. The business had revenue of $8.71 billion during the quarter, compared to analysts’ expectations of $8.71 billion. During the same period in the prior year, the company earned ($0.95) earnings per share. The business’s revenue was up 84.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that Micron Technology, Inc. will post 6.08 EPS for the current year.

Micron Technology Announces Dividend

The firm also recently announced 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 of this dividend was Monday, December 30th. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.48%. Micron Technology’s payout ratio is 13.26%.

Insider Transactions at Micron Technology

In other news, EVP April S. Arnzen sold 4,890 shares of the business’s stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $85.21, for a total transaction of $416,676.90. Following the transaction, the executive vice president now directly owns 181,223 shares in the company, valued at $15,442,011.83. The trade was a 2.63 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.30% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on MU shares. Bank of America cut shares of Micron Technology from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $125.00 to $110.00 in a research report on Thursday, December 19th. China Renaissance began coverage on shares of Micron Technology in a research note on Monday, October 28th. They issued a “buy” rating and a $148.00 price target for the company. Needham & Company LLC dropped their price target on shares of Micron Technology from $140.00 to $120.00 and set a “buy” rating for the company in a research note on Thursday, December 19th. Sanford C. Bernstein dropped their price target on shares of Micron Technology from $140.00 to $120.00 and set an “outperform” rating for the company in a research note on Wednesday, December 18th. Finally, Wedbush restated an “outperform” rating and issued a $140.00 price target on shares of Micron Technology in a research note on Tuesday, December 17th. One 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. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price 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.