AIA Group Ltd Has $3.16 Million Position in Micron Technology, Inc. (NASDAQ:MU)

AIA Group Ltd grew its holdings in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) by 172.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 36,362 shares of the semiconductor manufacturer's stock after acquiring an additional 22,994 shares during the period. AIA Group Ltd's holdings in Micron Technology were worth $3,159,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of MU. Sunbeam Capital Management LLC acquired a new stake in shares of Micron Technology in the 4th quarter valued at about $26,000. Opal Wealth Advisors LLC acquired a new stake in shares of Micron Technology in the 1st quarter valued at about $33,000. Roxbury Financial LLC grew its stake in shares of Micron Technology by 306.1% in the 1st quarter. Roxbury Financial LLC now owns 398 shares of the semiconductor manufacturer's stock valued at $37,000 after buying an additional 300 shares during the period. AllSquare Wealth Management LLC grew its stake in shares of Micron Technology by 100.0% in the 1st quarter. AllSquare Wealth Management LLC now owns 400 shares of the semiconductor manufacturer's stock valued at $35,000 after buying an additional 200 shares during the period. Finally, MJT & Associates Financial Advisory Group Inc. acquired a new stake in shares of Micron Technology in the 1st quarter valued at about $36,000. 80.84% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have recently commented on MU. Wedbush raised their target price on Micron Technology from $150.00 to $165.00 and gave the company an "outperform" rating in a research note on Thursday, June 26th. Morgan Stanley raised their price target on shares of Micron Technology from $98.00 to $135.00 and gave the company an "equal weight" rating in a research report on Thursday, June 26th. Citigroup raised their price target on shares of Micron Technology from $130.00 to $150.00 and gave the company a "buy" rating in a research report on Thursday, June 26th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Micron Technology in a research report on Thursday, July 10th. They issued a "buy" rating and a $150.00 price target on the stock. Finally, TD Cowen raised their price target on shares of Micron Technology from $125.00 to $150.00 and gave the company a "buy" rating in a research report on Thursday, June 26th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $146.44.

Micron Technology Stock Up 4.1%

Micron Technology stock opened at $123.77 on Tuesday. Micron Technology, Inc. has a 1-year low of $61.54 and a 1-year high of $129.85. The firm has a market capitalization of $138.52 billion, a price-to-earnings ratio of 22.30 and a beta of 1.37. The company has a current ratio of 2.75, a quick ratio of 1.89 and a debt-to-equity ratio of 0.30. The firm has a 50 day simple moving average of $116.46 and a 200 day simple moving average of $98.21.

Micron Technology (NASDAQ:MU - Get Free Report) last released its quarterly earnings data on Wednesday, June 25th. The semiconductor manufacturer reported $1.91 earnings per share for the quarter, beating analysts' consensus estimates of $1.57 by $0.34. Micron Technology had a net margin of 18.41% and a return on equity of 13.60%. The business had revenue of $9.30 billion during the quarter, compared to analyst estimates of $8.83 billion. During the same period in the previous year, the business earned $0.62 EPS. On average, analysts predict that Micron Technology, Inc. will post 6.08 earnings per share for the current year.

Micron Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 22nd. Investors of record on Monday, July 7th were paid a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date was Monday, July 7th. Micron Technology's payout ratio is currently 8.29%.

Insiders Place Their Bets

In other news, EVP April S. Arnzen sold 15,000 shares of the business's stock in a transaction on Tuesday, June 24th. The shares were sold at an average price of $125.12, for a total transaction of $1,876,800.00. Following the completion of the transaction, the executive vice president directly owned 148,167 shares in the company, valued at $18,538,655.04. The trade was a 9.19% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Sumit Sadana sold 92,638 shares of the business's stock in a transaction on Friday, June 27th. The shares were sold at an average price of $125.49, for a total transaction of $11,625,142.62. Following the transaction, the executive vice president owned 201,326 shares of the company's stock, valued at $25,264,399.74. This trade represents a 31.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 286,042 shares of company stock worth $34,679,277 in the last three months. 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.

Want to see what other hedge funds are holding MU? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Micron Technology, Inc. (NASDAQ:MU - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.