GF Fund Management CO. LTD. Makes New $17.77 Million Investment in Micron Technology, Inc. (NASDAQ:MU)

GF Fund Management CO. LTD. bought a new stake in Micron Technology, Inc. (NASDAQ:MU - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 211,136 shares of the semiconductor manufacturer's stock, valued at approximately $17,769,000.

A number of other institutional investors have also modified their holdings of the stock. Beacon Capital Management LLC boosted its stake in shares of Micron Technology by 114.9% in the fourth quarter. Beacon Capital Management LLC now owns 374 shares of the semiconductor manufacturer's stock valued at $31,000 after buying an additional 200 shares in the last quarter. Midwest Capital Advisors LLC purchased a new stake in shares of Micron Technology in the fourth quarter valued at approximately $33,000. Comprehensive Financial Planning Inc. PA purchased a new stake in shares of Micron Technology in the fourth quarter valued at approximately $34,000. Curio Wealth LLC purchased a new stake in shares of Micron Technology in the fourth quarter valued at approximately $34,000. Finally, Activest Wealth Management boosted its stake in shares of Micron Technology by 583.3% in the fourth quarter. Activest Wealth Management now owns 410 shares of the semiconductor manufacturer's stock valued at $34,000 after buying an additional 350 shares in the last quarter. Institutional investors and hedge funds own 80.84% of the company's stock.

Micron Technology Trading Up 3.2%

NASDAQ:MU traded up $3.01 on Tuesday, hitting $96.38. 17,461,273 shares of the stock were exchanged, compared to its average volume of 23,493,222. The stock has a market cap of $107.71 billion, a PE ratio of 27.78 and a beta of 1.21. 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 stock has a fifty day moving average of $82.65 and a 200-day moving average of $92.07. Micron Technology, Inc. has a fifty-two week low of $61.54 and a fifty-two week high of $157.54.

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

Micron Technology Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders 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 dividend yield of 0.48%. Micron Technology's dividend payout ratio (DPR) is currently 11.03%.

Insider Activity

In related news, EVP April S. Arnzen sold 15,000 shares of the stock in a transaction dated 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 transaction, the executive vice president now owns 164,769 shares of the company's stock, valued at approximately $15,847,482.42. This represents a 8.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Mary Pat Mccarthy sold 2,404 shares of the stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $80.00, for a total value of $192,320.00. Following the completion of the transaction, the director now directly owns 24,954 shares of the company's stock, valued at $1,996,320. This represents a 8.79% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 19,808 shares of company stock worth $1,858,424. 0.30% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Wells Fargo & Company restated an "equal weight" rating on shares of Micron Technology in a research report on Monday, April 28th. Cantor Fitzgerald restated an "overweight" rating and issued a $130.00 price objective on shares of Micron Technology in a research report on Friday, March 21st. KGI Securities upgraded Micron Technology to a "strong-buy" rating in a research report on Friday, February 21st. Wedbush restated an "underperform" rating on shares of Micron Technology in a research report on Monday, April 28th. Finally, Rosenblatt Securities reduced their price objective on Micron Technology from $250.00 to $200.00 and set a "buy" rating on the stock in a research report on Friday, March 21st. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $126.48.

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.