GF Fund Management CO. LTD. Purchases New Holdings in Micron Technology, Inc. (NASDAQ:MU)

GF Fund Management CO. LTD. acquired a new stake in Micron Technology, Inc. (NASDAQ:MU) during the fourth quarter, according to its most recent filing with the SEC. The firm acquired 211,136 shares of the semiconductor manufacturer’s stock, valued at approximately $17,769,000.

A number of other hedge funds have also recently bought and sold shares of MU. E Fund Management Co. Ltd. increased its stake in Micron Technology by 31.8% during the 4th quarter. E Fund Management Co. Ltd. now owns 36,378 shares of the semiconductor manufacturer’s stock worth $3,062,000 after purchasing an additional 8,780 shares in the last quarter. CIBC Private Wealth Group LLC increased its position in shares of Micron Technology by 43.0% during the fourth quarter. CIBC Private Wealth Group LLC now owns 14,178 shares of the semiconductor manufacturer’s stock worth $1,193,000 after acquiring an additional 4,264 shares in the last quarter. Stablepoint Partners LLC acquired a new stake in shares of Micron Technology during the fourth quarter worth $569,000. Landscape Capital Management L.L.C. lifted its position in Micron Technology by 167.0% in the 4th quarter. Landscape Capital Management L.L.C. now owns 45,758 shares of the semiconductor manufacturer’s stock valued at $3,851,000 after acquiring an additional 28,621 shares in the last quarter. Finally, Duquesne Family Office LLC acquired a new position in Micron Technology in the 4th quarter worth $34,412,000. 80.84% of the stock is currently owned by institutional investors.

Micron Technology Stock Performance

Shares of NASDAQ:MU opened at $93.37 on Friday. The company has a quick ratio of 1.75, a current ratio of 2.72 and a debt-to-equity ratio of 0.28. Micron Technology, Inc. has a 12-month low of $61.54 and a 12-month high of $157.54. The company’s 50 day moving average price is $82.82 and its two-hundred day moving average price is $92.48. The firm has a market cap of $104.35 billion, a PE ratio of 26.91 and a beta of 1.21.

Micron Technology (NASDAQ:MU) last posted its quarterly earnings data on Thursday, March 20th. The semiconductor manufacturer reported $1.56 EPS for the quarter, topping analysts’ consensus estimates 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 return on equity of 8.32% and a net margin of 13.34%. The company’s revenue was up 38.2% on a year-over-year basis. During the same quarter last year, the company earned $0.42 EPS. Equities research analysts predict that Micron Technology, Inc. will post 6.08 earnings per share for the current year.

Micron Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were paid a $0.115 dividend. 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 0.49%. Micron Technology’s dividend payout ratio (DPR) is 11.03%.

Insider Buying and Selling at Micron Technology

In other Micron Technology news, Director Mary Pat Mccarthy sold 2,404 shares of the company’s stock in a transaction on Monday, March 3rd. The shares were 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 of the company’s stock, valued at approximately $2,542,378.94. This represents a 8.08% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP April S. Arnzen sold 15,000 shares of the company’s stock in a transaction dated Tuesday, March 25th. The shares were sold at an average price of $96.18, for a total transaction of $1,442,700.00. Following the transaction, the executive vice president now owns 164,769 shares in the company, valued at $15,847,482.42. This represents a 8.34% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 19,808 shares of company stock worth $1,858,424 over the last three months. Corporate insiders own 0.30% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently commented on MU shares. UBS Group cut their price target on Micron Technology from $130.00 to $92.00 and set a “buy” rating on the stock in a report on Monday, April 28th. Wells Fargo & Company reaffirmed an “equal weight” rating on shares of Micron Technology in a research report on Monday, April 28th. KGI Securities raised shares of Micron Technology to a “strong-buy” rating in a research report on Friday, February 21st. Robert W. Baird increased their price target on Micron Technology from $130.00 to $163.00 and gave the company an “outperform” rating in a research report on Friday, March 21st. Finally, Rosenblatt Securities dropped their price objective on Micron Technology from $250.00 to $200.00 and set a “buy” rating on the stock in a research note on Friday, March 21st. Two analysts have rated the stock with a sell rating, five have issued a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Micron Technology currently has an average rating of “Moderate Buy” and a consensus target price of $126.48.

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.