Livforsakringsbolaget Skandia Omsesidigt Increases Stake in Micron Technology, Inc. (NASDAQ:MU)

Livforsakringsbolaget Skandia Omsesidigt raised its holdings in shares of Micron Technology, Inc. (NASDAQ:MU) by 70.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,447 shares of the semiconductor manufacturer’s stock after acquiring an additional 1,011 shares during the quarter. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Micron Technology were worth $209,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of the business. Northern Trust Corp increased its holdings in Micron Technology by 0.7% in the 3rd quarter. Northern Trust Corp now owns 10,833,670 shares of the semiconductor manufacturer’s stock worth $737,015,000 after acquiring an additional 80,345 shares in the last quarter. L2 Asset Management LLC boosted its stake in shares of Micron Technology by 492.3% in the third quarter. L2 Asset Management LLC now owns 26,444 shares of the semiconductor manufacturer’s stock worth $1,799,000 after acquiring an additional 21,979 shares during the period. Invesco Ltd. grew its position in shares of Micron Technology by 11.8% during the third quarter. Invesco Ltd. now owns 8,807,926 shares of the semiconductor manufacturer’s stock worth $599,203,000 after purchasing an additional 927,302 shares in the last quarter. Merlin Capital Inc bought a new stake in Micron Technology during the 3rd quarter valued at approximately $407,000. Finally, Amitell Capital Pte Ltd lifted its holdings in Micron Technology by 97.9% in the 3rd quarter. Amitell Capital Pte Ltd now owns 95,210 shares of the semiconductor manufacturer’s stock worth $6,477,000 after purchasing an additional 47,105 shares in the last quarter. Institutional investors own 80.84% of the company’s stock.

Micron Technology Price Performance

Shares of MU stock opened at $111.93 on Friday. Micron Technology, Inc. has a one year low of $58.03 and a one year high of $130.54. The company’s 50-day simple moving average is $102.53 and its two-hundred day simple moving average is $86.40. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.40 and a current ratio of 3.74.

Micron Technology (NASDAQ:MU) last released its quarterly earnings data on Wednesday, March 20th. The semiconductor manufacturer reported $0.42 earnings per share for the quarter, beating the consensus estimate of ($0.27) by $0.69. The firm had revenue of $5.82 billion during the quarter, compared to the consensus estimate of $5.35 billion. Micron Technology had a negative return on equity of 8.98% and a negative net margin of 20.57%. The firm’s quarterly revenue was up 57.7% on a year-over-year basis. During the same period in the previous year, the company posted ($2.03) earnings per share. On average, sell-side analysts anticipate that Micron Technology, Inc. will post 0.24 EPS for the current year.

Micron Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 16th. Investors of record on Monday, April 1st were issued a dividend of $0.115 per share. This represents a $0.46 annualized dividend and a yield of 0.41%. The ex-dividend date of this dividend was Thursday, March 28th. Micron Technology’s payout ratio is -13.33%.

Insider Buying and Selling

In related news, CEO Sanjay Mehrotra sold 45,000 shares of the company’s stock in a transaction on Thursday, January 25th. The stock was sold at an average price of $90.00, for a total transaction of $4,050,000.00. Following the completion of the sale, the chief executive officer now directly owns 788,557 shares in the company, valued at approximately $70,970,130. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Sanjay Mehrotra sold 45,000 shares of Micron Technology stock in a transaction that occurred on Thursday, January 25th. The shares were sold at an average price of $90.00, for a total value of $4,050,000.00. Following the transaction, the chief executive officer now owns 788,557 shares of the company’s stock, valued at approximately $70,970,130. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP April S. Arnzen sold 4,890 shares of the stock in a transaction that occurred on Wednesday, March 27th. The shares were sold at an average price of $119.30, for a total transaction of $583,377.00. Following the sale, the executive vice president now directly owns 148,817 shares of the company’s stock, valued at approximately $17,753,868.10. The disclosure for this sale can be found here. Insiders sold 313,890 shares of company stock valued at $33,617,027 over the last 90 days. Corporate insiders own 0.32% of the company’s stock.

Analyst Upgrades and Downgrades

MU has been the topic of several recent analyst reports. Wedbush lifted their price objective on shares of Micron Technology from $103.00 to $130.00 and gave the company an “outperform” rating in a research report on Thursday, March 21st. KeyCorp lifted their price target on shares of Micron Technology from $135.00 to $150.00 and gave the company an “overweight” rating in a report on Monday, April 8th. Cantor Fitzgerald boosted their price target on shares of Micron Technology from $135.00 to $150.00 and gave the stock an “overweight” rating in a research note on Monday, April 8th. Rosenblatt Securities restated a “buy” rating and set a $140.00 price objective on shares of Micron Technology in a research report on Monday, March 18th. Finally, Citigroup reaffirmed a “buy” rating and issued a $150.00 target price on shares of Micron Technology in a report on Thursday, April 4th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $122.20.

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.