BLI Banque de Luxembourg Investments Invests $1.19 Million in Micron Technology, Inc. (NASDAQ:MU)

BLI Banque de Luxembourg Investments bought a new stake in Micron Technology, Inc. (NASDAQ:MU - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 13,965 shares of the semiconductor manufacturer's stock, valued at approximately $1,191,000.

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

Micron Technology Price Performance

Micron Technology stock opened at $80.72 on Monday. 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 has a 50-day moving average price of $83.63 and a 200 day moving average price of $93.77. Micron Technology, Inc. has a 12-month low of $61.54 and a 12-month high of $157.54. The stock has a market cap of $90.21 billion, a P/E ratio of 23.26 and a beta of 1.18.

Micron Technology (NASDAQ:MU - Get Free Report) last announced its quarterly earnings results on Thursday, March 20th. The semiconductor manufacturer reported $1.56 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.43 by $0.13. Micron Technology had a net margin of 13.34% and a return on equity of 8.32%. The business had revenue of $8.05 billion during the quarter, compared to the consensus estimate of $7.93 billion. During the same quarter last year, the firm earned $0.42 EPS. The business's revenue was up 38.2% compared to the same quarter last year. Sell-side analysts anticipate that Micron Technology, Inc. will post 6.08 earnings per share for the current year.

Micron Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were issued a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.57%. The ex-dividend date was Monday, March 31st. Micron Technology's dividend payout ratio is presently 11.03%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. Robert W. Baird upped their price objective on Micron Technology from $130.00 to $163.00 and gave the stock an "outperform" rating in a research report on Friday, March 21st. Wedbush restated an "underperform" rating on shares of Micron Technology in a research report on Monday, April 28th. Cantor Fitzgerald reiterated an "overweight" rating and issued a $130.00 price objective on shares of Micron Technology in a research report on Friday, March 21st. JPMorgan Chase & Co. lowered their target price on shares of Micron Technology from $145.00 to $135.00 and set an "overweight" rating on the stock in a research note on Friday, March 21st. Finally, Royal Bank of Canada set a $125.00 price target on Micron Technology in a research note on Wednesday, March 19th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $127.04.

Insider Buying and Selling

In other 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 completion of the sale, the executive vice president now directly owns 164,769 shares of the company's stock, valued at approximately $15,847,482.42. The trade was a 8.34 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Mary Pat Mccarthy sold 2,404 shares of the stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $92.93, for a total value of $223,403.72. Following the transaction, the director now directly owns 27,358 shares in the company, valued at approximately $2,542,378.94. The trade was a 8.08 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.30% of the company's stock.

About Micron Technology

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.

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