TB Alternative Assets Ltd. Sells 39,894 Shares of Micron Technology, Inc. $MU

Key Points

• TB Alternative Assets Ltd. reduced its stake in Micron Technology by 50%, selling 39,894 shares and now owning a total of 39,894 shares, which represent 0.9% of its holdings.
• Micron Technology reported $1.91 earnings per share for its recent quarter, exceeding the consensus estimate of $1.57 and demonstrating strong revenue growth.
• The company declared a quarterly dividend of $0.115 per share, with the ex-dividend date set for October 3rd, representing an annualized yield of 0.3%.

TB Alternative Assets Ltd. trimmed its position in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 50.0% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 39,894 shares of the semiconductor manufacturer's stock after selling 39,894 shares during the quarter. Micron Technology accounts for 0.9% of TB Alternative Assets Ltd.'s holdings, making the stock its 20th biggest holding. TB Alternative Assets Ltd.'s holdings in Micron Technology were worth $4,917,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of MU. Mission Wealth Management LP raised its stake in Micron Technology by 195.2% in the 1st quarter. Mission Wealth Management LP now owns 15,650 shares of the semiconductor manufacturer's stock worth $1,360,000 after purchasing an additional 10,348 shares in the last quarter. Centre Asset Management LLC bought a new position in shares of Micron Technology during the first quarter worth approximately $7,720,000. Czech National Bank increased its holdings in shares of Micron Technology by 6.4% during the first quarter. Czech National Bank now owns 255,908 shares of the semiconductor manufacturer's stock worth $22,236,000 after purchasing an additional 15,485 shares during the period. Stock Yards Bank & Trust Co. acquired a new stake in shares of Micron Technology in the first quarter valued at approximately $228,000. Finally, Teamwork Financial Advisors LLC boosted its stake in shares of Micron Technology by 27.3% in the first quarter. Teamwork Financial Advisors LLC now owns 15,089 shares of the semiconductor manufacturer's stock valued at $1,311,000 after buying an additional 3,240 shares during the period. Institutional investors and hedge funds own 80.84% of the company's stock.

Micron Technology Stock Performance

Shares of MU stock opened at $161.71 on Thursday. The firm has a market capitalization of $180.97 billion, a price-to-earnings ratio of 21.31 and a beta of 1.47. The company has a current ratio of 2.75, a quick ratio of 1.89 and a debt-to-equity ratio of 0.30. The business's 50-day moving average price is $126.57 and its 200-day moving average price is $107.07. Micron Technology, Inc. has a 12 month low of $61.54 and a 12 month high of $170.45.

Micron Technology (NASDAQ:MU - Get Free Report) last released its quarterly earnings data on Wednesday, June 25th. The semiconductor manufacturer reported $1.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.57 by $0.34. Micron Technology had a return on equity of 17.69% and a net margin of 22.84%.The company had revenue of $9.30 billion during the quarter, compared to the consensus estimate of $8.83 billion. During the same quarter in the prior year, the firm posted $0.62 earnings per share. Equities research analysts forecast that Micron Technology, Inc. will post 6.08 EPS for the current year.

Micron Technology Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 21st. Stockholders of record on Friday, October 3rd will be paid a dividend of $0.115 per share. The ex-dividend date of this dividend is Friday, October 3rd. This represents a $0.46 annualized dividend and a dividend yield of 0.3%. Micron Technology's dividend payout ratio (DPR) is presently 8.29%.

Analyst Ratings Changes

A number of research firms have commented on MU. Wall Street Zen lowered Micron Technology from a "strong-buy" rating to a "buy" rating in a research note on Saturday, September 13th. Raymond James Financial increased their target price on Micron Technology from $150.00 to $190.00 and gave the stock an "outperform" rating in a report on Wednesday. Wolfe Research boosted their price target on Micron Technology from $160.00 to $180.00 and gave the company an "outperform" rating in a research note on Wednesday, September 17th. Wells Fargo & Company upped their price objective on shares of Micron Technology from $170.00 to $220.00 and gave the stock an "overweight" rating in a research report on Wednesday. Finally, Citigroup increased their price objective on shares of Micron Technology from $175.00 to $200.00 and gave the stock a "buy" rating in a research note on Wednesday. Two analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $184.77.

Insider Activity at Micron Technology

In related news, Director Steven J. Gomo sold 7,000 shares of the business's stock in a transaction on Friday, June 27th. The shares were sold at an average price of $125.15, for a total value of $876,050.00. Following the sale, the director owned 22,762 shares of the company's stock, valued at $2,848,664.30. The trade was a 23.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Mark J. Murphy sold 34,000 shares of the stock in a transaction on Tuesday, July 22nd. The shares were sold at an average price of $109.32, for a total value of $3,716,880.00. Following the completion of the sale, the chief financial officer owned 264,036 shares of the company's stock, valued at $28,864,415.52. The trade was a 11.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 255,946 shares of company stock valued at $32,306,159 in the last quarter. Insiders own 0.30% of the company's stock.

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.

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