Micron Technology, Inc. (NASDAQ:MU) Shares Purchased by TB Alternative Assets Ltd.

TB Alternative Assets Ltd. raised its holdings in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) by 331.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 79,788 shares of the semiconductor manufacturer's stock after buying an additional 61,288 shares during the quarter. Micron Technology comprises 1.6% of TB Alternative Assets Ltd.'s investment portfolio, making the stock its 16th largest holding. TB Alternative Assets Ltd.'s holdings in Micron Technology were worth $6,933,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of MU. Brighton Jones LLC boosted its position in Micron Technology by 18.3% in the fourth quarter. Brighton Jones LLC now owns 6,318 shares of the semiconductor manufacturer's stock valued at $532,000 after buying an additional 976 shares in the last quarter. Silver Oak Securities Incorporated grew its stake in shares of Micron Technology by 19.9% during the fourth quarter. Silver Oak Securities Incorporated now owns 3,609 shares of the semiconductor manufacturer's stock valued at $308,000 after purchasing an additional 598 shares during the last quarter. Consolidated Portfolio Review Corp increased its holdings in shares of Micron Technology by 5.2% in the fourth quarter. Consolidated Portfolio Review Corp now owns 2,547 shares of the semiconductor manufacturer's stock valued at $214,000 after purchasing an additional 127 shares in the last quarter. Strategic Financial Concepts LLC raised its position in Micron Technology by 8,316.8% in the 4th quarter. Strategic Financial Concepts LLC now owns 286,929 shares of the semiconductor manufacturer's stock worth $24,148,000 after purchasing an additional 283,520 shares during the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd lifted its holdings in Micron Technology by 5.5% during the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 133,326 shares of the semiconductor manufacturer's stock worth $11,221,000 after buying an additional 7,004 shares in the last quarter. Institutional investors and hedge funds own 80.84% of the company's stock.

Micron Technology Trading Up 1.6%

MU stock traded up $1.84 during mid-day trading on Wednesday, reaching $115.98. The company's stock had a trading volume of 18,767,757 shares, compared to its average volume of 23,644,716. Micron Technology, Inc. has a 12 month low of $61.54 and a 12 month high of $157.54. 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 business's 50 day moving average price is $85.21 and its 200 day moving average price is $92.26. The company has a market cap of $129.61 billion, a price-to-earnings ratio of 33.42 and a beta of 1.28.

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

Micron Technology Announces Dividend

The company also recently announced 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. The ex-dividend date was Monday, March 31st. This represents a $0.46 annualized dividend and a dividend yield of 0.40%. Micron Technology's dividend payout ratio is currently 11.03%.

Insider Transactions at Micron Technology

In related news, Director Mary Pat Mccarthy sold 2,404 shares of the business's stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $80.00, for a total value of $192,320.00. Following the completion of the sale, the director now owns 24,954 shares in the company, valued at $1,996,320. The trade was a 8.79% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Scott J. Deboer sold 20,000 shares of the business's stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $110.00, for a total value of $2,200,000.00. Following the transaction, the executive vice president now owns 186,353 shares in the company, valued at approximately $20,498,830. This represents a 9.69% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 44,904 shares of company stock worth $4,665,124 in the last 90 days. Insiders own 0.30% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Cantor Fitzgerald reiterated an "overweight" rating and set a $130.00 price target on shares of Micron Technology in a research report on Friday, March 21st. Robert W. Baird increased their target price on shares of Micron Technology from $130.00 to $163.00 and gave the stock an "outperform" rating in a report on Friday, March 21st. Wall Street Zen cut shares of Micron Technology from a "buy" rating to a "hold" rating in a research report on Saturday, May 24th. Morgan Stanley reduced their target price on Micron Technology from $112.00 to $98.00 and set an "equal weight" rating on the stock in a report on Wednesday, May 7th. Finally, KGI Securities upgraded Micron Technology to a "strong-buy" rating in a report on Friday, February 21st. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $129.00.

Micron Technology Company 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.