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

TB Alternative Assets Ltd. raised its holdings in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 331.3% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 79,788 shares of the semiconductor manufacturer's stock after purchasing an additional 61,288 shares during the quarter. Micron Technology comprises approximately 1.6% of TB Alternative Assets Ltd.'s 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.

Other institutional investors also recently bought and sold shares of the company. Brighton Jones LLC boosted its holdings in shares of 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 acquiring an additional 976 shares in the last quarter. Silver Oak Securities Incorporated boosted its holdings in shares of Micron Technology by 19.9% in the fourth quarter. Silver Oak Securities Incorporated now owns 3,609 shares of the semiconductor manufacturer's stock valued at $308,000 after acquiring an additional 598 shares in the last quarter. Consolidated Portfolio Review Corp boosted 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 acquiring an additional 127 shares in the last quarter. Strategic Financial Concepts LLC boosted its holdings in shares of Micron Technology by 8,316.8% in the fourth quarter. Strategic Financial Concepts LLC now owns 286,929 shares of the semiconductor manufacturer's stock valued at $24,148,000 after acquiring an additional 283,520 shares in the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings in shares of Micron Technology by 5.5% in the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 133,326 shares of the semiconductor manufacturer's stock valued at $11,221,000 after acquiring an additional 7,004 shares in the last quarter. 80.84% of the stock is currently owned by institutional investors and hedge funds.

Micron Technology Stock Performance

NASDAQ:MU opened at $108.56 on Friday. The firm has a 50 day simple moving average of $83.97 and a 200-day simple moving average of $92.13. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.72 and a quick ratio of 1.75. The firm has a market cap of $121.32 billion, a PE ratio of 31.29 and a beta of 1.28. Micron Technology, Inc. has a 1-year low of $61.54 and a 1-year high of $157.54.

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

Micron Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were given a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.42%. The ex-dividend date was Monday, March 31st. Micron Technology's dividend payout ratio is presently 11.03%.

Insider Buying and Selling

In related news, EVP April S. Arnzen sold 15,000 shares of the company's 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 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 hyperlink. Also, Director Mary Pat Mccarthy sold 2,404 shares of the company'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 transaction of $192,320.00. Following the transaction, 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. 0.30% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. JPMorgan Chase & Co. lowered their target price on shares of Micron Technology from $145.00 to $135.00 and set an "overweight" rating on the stock in a report on Friday, March 21st. Cantor Fitzgerald reissued an "overweight" rating and set a $130.00 price objective on shares of Micron Technology in a report on Friday, March 21st. Wells Fargo & Company reissued an "equal weight" rating on shares of Micron Technology in a report on Monday, April 28th. Citigroup decreased their price objective on shares of Micron Technology from $120.00 to $110.00 and set a "buy" rating on the stock in a report on Friday, April 11th. Finally, UBS Group boosted their price objective on shares of Micron Technology from $92.00 to $120.00 and gave the stock a "buy" rating in a report on Thursday. Two research analysts have rated the stock with a sell rating, five have given a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $128.20.

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.

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