Lazard Asset Management LLC Has $148.16 Million Stake in Micron Technology, Inc. (NASDAQ:MU)

Lazard Asset Management LLC grew its holdings in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) by 7.1% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 1,760,428 shares of the semiconductor manufacturer's stock after acquiring an additional 116,314 shares during the period. Lazard Asset Management LLC owned about 0.16% of Micron Technology worth $148,156,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the stock. Czech National Bank boosted its holdings in Micron Technology by 6.4% in the 4th quarter. Czech National Bank now owns 240,423 shares of the semiconductor manufacturer's stock worth $20,234,000 after buying an additional 14,499 shares during the period. City State Bank grew its position in shares of Micron Technology by 56.2% in the 4th quarter. City State Bank now owns 16,620 shares of the semiconductor manufacturer's stock worth $1,399,000 after buying an additional 5,980 shares during the last quarter. Brookstone Capital Management boosted its position in Micron Technology by 8.8% during the 4th quarter. Brookstone Capital Management now owns 11,921 shares of the semiconductor manufacturer's stock valued at $1,003,000 after acquiring an additional 961 shares in the last quarter. Capital Investment Advisors LLC lifted its position in Micron Technology by 7.5% during the 4th quarter. Capital Investment Advisors LLC now owns 6,317 shares of the semiconductor manufacturer's stock valued at $532,000 after acquiring an additional 439 shares during the period. Finally, CHICAGO TRUST Co NA raised its stake in Micron Technology by 59.5% during the fourth quarter. CHICAGO TRUST Co NA now owns 7,201 shares of the semiconductor manufacturer's stock valued at $606,000 after buying an additional 2,687 shares during the last quarter. 80.84% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

MU has been the subject of a number of recent research reports. Rosenblatt Securities cut their price target on Micron Technology from $250.00 to $200.00 and set a "buy" rating for the company in a research note on Friday, March 21st. UBS Group reduced their price target on shares of Micron Technology from $130.00 to $92.00 and set a "buy" rating for the company in a report on Monday, April 28th. China Renaissance downgraded Micron Technology from a "buy" rating to a "hold" rating and set a $84.00 price target on the stock. in a research report on Wednesday, March 26th. Wells Fargo & Company reissued an "equal weight" rating on shares of Micron Technology in a report on Monday, April 28th. Finally, JPMorgan Chase & Co. cut their price target on Micron Technology from $145.00 to $135.00 and set an "overweight" rating on the stock in a research report on Friday, March 21st. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $126.48.

Micron Technology Price Performance

MU opened at $85.86 on Monday. The stock's 50-day moving average price is $82.62 and its 200 day moving average price is $92.89. Micron Technology, Inc. has a 12-month low of $61.54 and a 12-month high of $157.54. The firm has a market cap of $95.95 billion, a price-to-earnings ratio of 24.74 and a beta of 1.21. The company has a current ratio of 2.72, a quick ratio of 1.75 and a debt-to-equity ratio of 0.28.

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

Micron Technology Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were given a $0.115 dividend. The ex-dividend date was Monday, March 31st. This represents a $0.46 dividend on an annualized basis and a yield of 0.54%. Micron Technology's dividend payout ratio (DPR) is presently 11.03%.

Insider Activity at Micron Technology

In other news, EVP April S. Arnzen sold 15,000 shares of the company's stock in a transaction on Tuesday, March 25th. The stock was sold at an average price of $96.18, for a total transaction of $1,442,700.00. Following the completion of the sale, the executive vice president now directly owns 164,769 shares in the company, valued at $15,847,482.42. This represents a 8.34% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Mary Pat Mccarthy sold 2,404 shares of the firm's stock in a transaction 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 completion of the transaction, the director now directly owns 27,358 shares in the company, valued at approximately $2,542,378.94. This represents a 8.08% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 19,808 shares of company stock valued at $1,858,424 in the last three months. 0.30% of the stock is currently owned by company insiders.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.