AEGON ASSET MANAGEMENT UK Plc Has $51.10 Million Stock Holdings in Micron Technology, Inc. (NASDAQ:MU)

AEGON ASSET MANAGEMENT UK Plc increased its position in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 33.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 588,106 shares of the semiconductor manufacturer's stock after purchasing an additional 148,357 shares during the quarter. AEGON ASSET MANAGEMENT UK Plc owned approximately 0.05% of Micron Technology worth $51,095,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Sunbeam Capital Management LLC bought a new position in Micron Technology during the fourth quarter worth about $26,000. Beacon Capital Management LLC boosted its stake in Micron Technology by 114.9% during the 4th quarter. Beacon Capital Management LLC now owns 374 shares of the semiconductor manufacturer's stock worth $31,000 after acquiring an additional 200 shares during the last quarter. Midwest Capital Advisors LLC acquired a new position in Micron Technology during the fourth quarter valued at approximately $33,000. Activest Wealth Management increased its stake in 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 purchasing an additional 350 shares in the last quarter. Finally, Comprehensive Financial Planning Inc. PA bought a new stake in Micron Technology in the fourth quarter valued at approximately $34,000. 80.84% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on MU. KGI Securities raised shares of Micron Technology to a "strong-buy" rating in a research note on Friday, February 21st. Wells Fargo & Company reaffirmed an "equal weight" rating on shares of Micron Technology in a research note on Monday, April 28th. Barclays lowered their target price on Micron Technology from $115.00 to $95.00 and set an "overweight" rating for the company in a report on Tuesday, April 22nd. Cantor Fitzgerald restated an "overweight" rating and issued a $130.00 price target on shares of Micron Technology in a report on Friday, March 21st. Finally, Morgan Stanley decreased their price objective on Micron Technology from $112.00 to $98.00 and set an "equal weight" rating for the company in a report on Wednesday, May 7th. Two analysts have rated the stock with a sell rating, five have given a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $128.20.

Insider Buying and Selling

In related news, Director Mary Pat Mccarthy sold 2,404 shares of the 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 owns 24,954 shares in the company, valued at approximately $1,996,320. This trade represents a 8.79% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP April S. Arnzen sold 15,000 shares of Micron Technology stock in a transaction that occurred on 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 completion of the transaction, the executive vice president now directly owns 164,769 shares in the company, valued at $15,847,482.42. This trade represents a 8.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.30% of the stock is currently owned by company insiders.

Micron Technology Stock Performance

Shares of MU stock traded up $3.04 during midday trading on Thursday, hitting $106.29. 28,575,293 shares of the company were exchanged, compared to its average volume of 23,561,487. Micron Technology, Inc. has a 52 week low of $61.54 and a 52 week high of $157.54. The firm has a market capitalization of $118.79 billion, a P/E ratio of 30.63 and a beta of 1.21. The firm's 50 day moving average price is $83.19 and its two-hundred day moving average price is $92.03. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.75 and a current ratio of 2.72.

Micron Technology (NASDAQ:MU - Get Free Report) last issued its quarterly earnings data 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. The company had revenue of $8.05 billion during 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%. The business's revenue was up 38.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.42 earnings per share. As a group, equities research 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 announced 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. The ex-dividend date was Monday, March 31st. This represents a $0.46 annualized dividend and a dividend yield of 0.43%. Micron Technology's dividend payout ratio is presently 11.03%.

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.