PKO Investment Management Joint Stock Co Purchases Shares of 72,000 Micron Technology, Inc. (NASDAQ:MU)

PKO Investment Management Joint Stock Co acquired a new position in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 72,000 shares of the semiconductor manufacturer's stock, valued at approximately $6,060,000. Micron Technology makes up approximately 0.8% of PKO Investment Management Joint Stock Co's portfolio, making the stock its 27th largest holding.

Several other hedge funds and other institutional investors have also modified their holdings of MU. Sunbeam Capital Management LLC bought a new position in shares of Micron Technology in the fourth quarter valued at approximately $26,000. Beacon Capital Management LLC grew its holdings 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 period. Midwest Capital Advisors LLC acquired a new stake in Micron Technology during the 4th quarter worth $33,000. Activest Wealth Management grew its holdings in shares of Micron Technology by 583.3% in the 4th quarter. Activest Wealth Management now owns 410 shares of the semiconductor manufacturer's stock valued at $34,000 after buying an additional 350 shares during the period. Finally, Comprehensive Financial Planning Inc. PA acquired a new position in shares of Micron Technology in the 4th quarter valued at $34,000. 80.84% of the stock is currently owned by hedge funds and other institutional investors.

Micron Technology Price Performance

Shares of MU traded down $0.20 during midday trading on Wednesday, hitting $96.18. 10,310,191 shares of the company traded hands, compared to its average volume of 23,478,904. The stock has a market cap of $107.49 billion, a price-to-earnings ratio of 27.72 and a beta of 1.21. Micron Technology, Inc. has a 52 week low of $61.54 and a 52 week high of $157.54. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.75 and a current ratio of 2.72. The firm has a 50 day moving average of $82.54 and a 200-day moving average of $92.13.

Micron Technology (NASDAQ:MU - Get Free Report) last issued its quarterly earnings results 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. 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 analyst estimates of $7.93 billion. During the same period last year, the company earned $0.42 EPS. Micron Technology's quarterly revenue was up 38.2% compared to the same quarter last year. On average, analysts forecast that Micron Technology, Inc. will post 6.08 EPS for the current fiscal year.

Micron Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were paid a dividend of $0.115 per share. The ex-dividend date was Monday, March 31st. This represents a $0.46 annualized dividend and a yield of 0.48%. Micron Technology's dividend payout ratio (DPR) is 11.03%.

Insiders Place Their Bets

In other news, Director Mary Pat Mccarthy sold 2,404 shares of Micron Technology stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $92.93, for a total transaction of $223,403.72. Following the sale, the director now owns 27,358 shares of the company's stock, valued at approximately $2,542,378.94. The trade was a 8.08% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP April S. Arnzen sold 15,000 shares of the stock in a transaction that occurred on 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 $15,847,482.42. The trade was a 8.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 19,808 shares of company stock valued at $1,858,424. 0.30% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on MU shares. Barclays reduced their target price on shares of Micron Technology from $115.00 to $95.00 and set an "overweight" rating for the company in a research note on Tuesday, April 22nd. China Renaissance cut shares of Micron Technology from a "buy" rating to a "hold" rating and set a $84.00 target price on the stock. in a report on Wednesday, March 26th. JPMorgan Chase & Co. decreased their price target on shares of Micron Technology from $145.00 to $135.00 and set an "overweight" rating on the stock in a research note on Friday, March 21st. Wedbush restated an "underperform" rating on shares of Micron Technology in a research report on Monday, April 28th. Finally, Wall Street Zen lowered shares of Micron Technology from a "buy" rating to a "hold" rating in a research report on Saturday. Two investment 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. Based on data from MarketBeat, Micron Technology currently has a consensus rating of "Moderate Buy" and an average 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.