11,969 Shares in Micron Technology, Inc. (NASDAQ:MU) Purchased by Voleon Capital Management LP

Voleon Capital Management LP bought a new stake in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 11,969 shares of the semiconductor manufacturer's stock, valued at approximately $1,007,000.

A number of other hedge funds and other institutional investors have also modified their holdings of MU. E Fund Management Co. Ltd. grew its holdings in Micron Technology by 31.8% during the 4th quarter. E Fund Management Co. Ltd. now owns 36,378 shares of the semiconductor manufacturer's stock worth $3,062,000 after acquiring an additional 8,780 shares in the last quarter. CIBC Private Wealth Group LLC increased its holdings in shares of Micron Technology by 43.0% in the 4th quarter. CIBC Private Wealth Group LLC now owns 14,178 shares of the semiconductor manufacturer's stock valued at $1,193,000 after acquiring an additional 4,264 shares during the last quarter. Stablepoint Partners LLC acquired a new stake in shares of Micron Technology during the 4th quarter valued at approximately $569,000. Landscape Capital Management L.L.C. lifted its stake in Micron Technology by 167.0% during the fourth quarter. Landscape Capital Management L.L.C. now owns 45,758 shares of the semiconductor manufacturer's stock worth $3,851,000 after purchasing an additional 28,621 shares during the last quarter. Finally, Fort Washington Investment Advisors Inc. OH boosted its holdings in Micron Technology by 11.7% in the fourth quarter. Fort Washington Investment Advisors Inc. OH now owns 502,374 shares of the semiconductor manufacturer's stock worth $42,280,000 after purchasing an additional 52,729 shares during the period. 80.84% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts recently issued reports on MU shares. Wedbush restated an "underperform" rating on shares of Micron Technology in a research report on Monday. Citigroup lowered their price target on shares of Micron Technology from $120.00 to $110.00 and set a "buy" rating for the company in a research report on Friday, April 11th. KGI Securities upgraded shares of Micron Technology to a "strong-buy" rating in a research report on Friday, February 21st. Morgan Stanley raised their price target on shares of Micron Technology from $91.00 to $112.00 and gave the company an "equal weight" rating in a research note on Friday, March 21st. Finally, Royal Bank of Canada set a $125.00 price target on Micron Technology in a research report on Wednesday, March 19th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $127.04.

Insider Transactions at Micron Technology

In other news, Director Mary Pat Mccarthy sold 2,404 shares of the business's stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $92.93, for a total value of $223,403.72. Following the completion of the sale, the director now directly owns 27,358 shares in the company, valued at approximately $2,542,378.94. The trade was a 8.08 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP April S. Arnzen sold 15,000 shares of the firm's stock in a transaction 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 in the company, 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. 0.30% of the stock is currently owned by company insiders.

Micron Technology Stock Up 3.8 %

Shares of NASDAQ:MU traded up $2.95 during trading on Friday, reaching $80.72. 18,886,755 shares of the company traded hands, compared to its average volume of 23,295,392. The firm has a fifty day simple moving average of $83.63 and a 200 day simple moving average of $94.00. The company has a quick ratio of 1.75, a current ratio of 2.72 and a debt-to-equity ratio of 0.28. Micron Technology, Inc. has a 1-year low of $61.54 and a 1-year high of $157.54. The firm has a market cap of $90.21 billion, a P/E ratio of 23.26 and a beta of 1.18.

Micron Technology (NASDAQ:MU - Get Free Report) last released its quarterly earnings data on Thursday, March 20th. The semiconductor manufacturer reported $1.56 earnings per share (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 earned $0.42 earnings per share. The business's revenue for the quarter was up 38.2% on a year-over-year basis. Analysts anticipate that Micron Technology, Inc. will post 6.08 earnings per share for the current fiscal year.

Micron Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were given a $0.115 dividend. This represents a $0.46 annualized dividend and a yield of 0.57%. The ex-dividend date was Monday, March 31st. Micron Technology's dividend payout ratio is 11.03%.

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.