Compagnie Lombard Odier SCmA Grows Stock Holdings in Micron Technology, Inc. (NASDAQ:MU)

Compagnie Lombard Odier SCmA increased its stake in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 20.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 13,736 shares of the semiconductor manufacturer's stock after purchasing an additional 2,300 shares during the quarter. Compagnie Lombard Odier SCmA's holdings in Micron Technology were worth $1,194,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the stock. E Fund Management Co. Ltd. lifted its holdings in shares of Micron Technology by 31.8% in the fourth quarter. E Fund Management Co. Ltd. now owns 36,378 shares of the semiconductor manufacturer's stock worth $3,062,000 after buying an additional 8,780 shares in the last quarter. CIBC Private Wealth Group LLC grew its position in shares of Micron Technology by 43.0% during the 4th quarter. CIBC Private Wealth Group LLC now owns 14,178 shares of the semiconductor manufacturer's stock valued at $1,193,000 after purchasing an additional 4,264 shares in the last quarter. Landscape Capital Management L.L.C. increased its holdings in shares of Micron Technology by 167.0% in the fourth quarter. Landscape Capital Management L.L.C. now owns 45,758 shares of the semiconductor manufacturer's stock worth $3,851,000 after purchasing an additional 28,621 shares during the period. Duquesne Family Office LLC purchased a new stake in shares of Micron Technology in the fourth quarter worth $34,412,000. Finally, Janus Henderson Group PLC boosted its stake in Micron Technology by 74.6% during the fourth quarter. Janus Henderson Group PLC now owns 2,646,936 shares of the semiconductor manufacturer's stock valued at $222,779,000 after buying an additional 1,130,680 shares during the period. Institutional investors own 80.84% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on MU shares. Barclays dropped their price target on Micron Technology from $115.00 to $95.00 and set an "overweight" rating for the company in a research report on Tuesday, April 22nd. Wall Street Zen lowered shares of Micron Technology from a "buy" rating to a "hold" rating in a report on Saturday, May 24th. KGI Securities raised shares of Micron Technology to a "strong-buy" rating in a report on Friday, February 21st. Mizuho increased their target price on Micron Technology from $124.00 to $130.00 and gave the company an "outperform" rating in a research note on Thursday, June 5th. Finally, Royal Bank of Canada set a $125.00 price target on Micron Technology in a research report on Wednesday, March 19th. Two analysts have rated the stock with a sell rating, five have given a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $129.00.

Micron Technology Trading Down 0.5%

Shares of MU stock traded down $0.58 during mid-day trading on Friday, reaching $115.60. The stock had a trading volume of 17,402,839 shares, compared to its average volume of 23,689,137. The firm has a market capitalization of $129.19 billion, a PE ratio of 33.31 and a beta of 1.28. The stock's 50-day moving average price is $87.20 and its two-hundred day moving average price is $92.51. The company has a current ratio of 2.72, a quick ratio of 1.75 and a debt-to-equity ratio of 0.28. Micron Technology, Inc. has a 52-week low of $61.54 and a 52-week high of $157.54.

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

Micron Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were given a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a yield of 0.40%. The ex-dividend date of this dividend was Monday, March 31st. Micron Technology's payout ratio is currently 11.03%.

Insiders Place Their Bets

In other Micron Technology news, CEO Sanjay Mehrotra sold 3,562 shares of the firm's stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $110.46, for a total transaction of $393,458.52. Following the completion of the sale, the chief executive officer now directly owns 391,113 shares in the company, valued at approximately $43,202,341.98. This trade represents a 0.90% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Mary Pat Mccarthy sold 2,404 shares of the firm's stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $80.00, for a total transaction of $192,320.00. Following the sale, the director now directly owns 24,954 shares of the company's stock, valued at $1,996,320. This trade represents a 8.79% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 44,904 shares of company stock worth $4,665,124. 0.30% of the stock is currently owned by corporate insiders.

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.