Tokio Marine Asset Management Co. Ltd. Acquires 1,543 Shares of Micron Technology, Inc. (NASDAQ:MU)

Tokio Marine Asset Management Co. Ltd. grew its position in shares of Micron Technology, Inc. (NASDAQ:MU) by 6.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 25,340 shares of the semiconductor manufacturer’s stock after buying an additional 1,543 shares during the period. Tokio Marine Asset Management Co. Ltd.’s holdings in Micron Technology were worth $2,163,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. OFI Invest Asset Management purchased a new position in shares of Micron Technology in the third quarter worth $27,000. Annis Gardner Whiting Capital Advisors LLC purchased a new stake in shares of Micron Technology in the third quarter worth approximately $28,000. VisionPoint Advisory Group LLC increased its holdings in Micron Technology by 68.3% during the 3rd quarter. VisionPoint Advisory Group LLC now owns 488 shares of the semiconductor manufacturer’s stock worth $33,000 after purchasing an additional 198 shares during the period. Cape Investment Advisory Inc. boosted its position in Micron Technology by 51.0% during the 3rd quarter. Cape Investment Advisory Inc. now owns 592 shares of the semiconductor manufacturer’s stock valued at $40,000 after acquiring an additional 200 shares in the last quarter. Finally, Clear Street Markets LLC boosted its position in shares of Micron Technology by 67.5% in the 3rd quarter. Clear Street Markets LLC now owns 623 shares of the semiconductor manufacturer’s stock worth $42,000 after purchasing an additional 251 shares in the last quarter. Hedge funds and other institutional investors own 80.84% of the company’s stock.

Insider Activity at Micron Technology

In other news, EVP April S. Arnzen sold 4,890 shares of the firm’s 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 completion of the sale, the executive vice president now owns 148,817 shares in the company, valued at approximately $17,753,868.10. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of Micron Technology stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $119.30, for a total value of $583,377.00. Following the completion of the transaction, the executive vice president now directly owns 148,817 shares of the company’s stock, valued at approximately $17,753,868.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Sanjay Mehrotra sold 7,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $84.84, for a total transaction of $593,880.00. Following the transaction, the chief executive officer now owns 788,557 shares of the company’s stock, valued at approximately $66,901,175.88. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 261,890 shares of company stock worth $28,955,157. Company insiders own 0.32% of the company’s stock.

Micron Technology Price Performance

Shares of MU traded up $1.02 during trading hours on Thursday, reaching $112.80. 9,240,202 shares of the company traded hands, compared to its average volume of 20,436,871. The stock has a fifty day simple moving average of $104.64 and a 200 day simple moving average of $87.69. The stock has a market capitalization of $124.91 billion, a PE ratio of -32.14 and a beta of 1.27. The company has a quick ratio of 2.40, a current ratio of 3.74 and a debt-to-equity ratio of 0.30. Micron Technology, Inc. has a fifty-two week low of $59.34 and a fifty-two week high of $130.54.

Micron Technology (NASDAQ:MU) last announced its earnings results on Wednesday, March 20th. The semiconductor manufacturer reported $0.42 EPS for the quarter, beating the consensus estimate of ($0.27) by $0.69. The business 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%. Micron Technology’s revenue was up 57.7% compared to the same quarter last year. During the same period in the prior year, the business posted ($2.03) earnings per share. As a group, research analysts predict that Micron Technology, Inc. will post 0.24 EPS for the current fiscal year.

Micron Technology Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on MU shares. Robert W. Baird boosted their target price on Micron Technology from $78.00 to $115.00 and gave the company a “neutral” rating in a research report on Tuesday, March 19th. Needham & Company LLC increased their target price on shares of Micron Technology from $100.00 to $120.00 and gave the company a “buy” rating in a report on Thursday, March 21st. Rosenblatt Securities reiterated a “buy” rating and issued a $140.00 price target on shares of Micron Technology in a report on Monday, March 18th. Stifel Nicolaus reaffirmed a “buy” rating and set a $140.00 price target on shares of Micron Technology in a research note on Friday, April 12th. Finally, Argus raised shares of Micron Technology from a “hold” rating to a “buy” rating and set a $140.00 price objective for the company in a research report on Thursday, March 21st. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-four have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $122.20.

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.