E Fund Management Hong Kong Co. Ltd. Acquires Shares of 14,492 Micron Technology, Inc. (NASDAQ:MU)

E Fund Management Hong Kong Co. Ltd. bought a new position in Micron Technology, Inc. (NASDAQ:MU – Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 14,492 shares of the semiconductor manufacturer’s stock, valued at approximately $915,000. Micron Technology comprises 0.7% of E Fund Management Hong Kong Co. Ltd.’s portfolio, making the stock its 23rd biggest position.

Other large investors have also recently made changes to their positions in the company. ASB Consultores LLC boosted its position in shares of Micron Technology by 2.0% during the fourth quarter. ASB Consultores LLC now owns 8,620 shares of the semiconductor manufacturer’s stock valued at $431,000 after buying an additional 167 shares during the period. Schear Investment Advisers LLC increased its stake in Micron Technology by 2.4% in the second quarter. Schear Investment Advisers LLC now owns 7,022 shares of the semiconductor manufacturer’s stock worth $443,000 after purchasing an additional 167 shares during the period. Studio Investment Management LLC lifted its position in shares of Micron Technology by 0.8% during the fourth quarter. Studio Investment Management LLC now owns 21,367 shares of the semiconductor manufacturer’s stock worth $1,068,000 after purchasing an additional 167 shares during the last quarter. Stonebridge Capital Advisors LLC boosted its stake in shares of Micron Technology by 6.6% during the first quarter. Stonebridge Capital Advisors LLC now owns 2,695 shares of the semiconductor manufacturer’s stock valued at $210,000 after purchasing an additional 168 shares during the period. Finally, SRS Capital Advisors Inc. grew its holdings in shares of Micron Technology by 3.1% in the fourth quarter. SRS Capital Advisors Inc. now owns 6,204 shares of the semiconductor manufacturer’s stock worth $310,000 after purchasing an additional 189 shares during the last quarter. 80.27% of the stock is owned by hedge funds and other institutional investors.

Micron Technology Stock Performance

Shares of NASDAQ MU traded down $0.03 during trading on Friday, reaching $63.53. 7,070,676 shares of the company traded hands, compared to its average volume of 16,161,577. The stock has a market cap of $69.58 billion, a P/E ratio of -23.08 and a beta of 1.35. Micron Technology, Inc. has a 12-month low of $48.43 and a 12-month high of $74.77. The firm’s fifty day simple moving average is $66.12 and its 200 day simple moving average is $63.03. The company has a current ratio of 4.26, a quick ratio of 2.64 and a debt-to-equity ratio of 0.29.

Micron Technology (NASDAQ:MU – Get Free Report) last posted its earnings results on Wednesday, June 28th. The semiconductor manufacturer reported ($1.43) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.61) by $0.18. Micron Technology had a negative net margin of 16.02% and a negative return on equity of 5.40%. The firm had revenue of $3.75 billion during the quarter, compared to analysts’ expectations of $3.65 billion. During the same period in the previous year, the business posted $2.50 EPS. The business’s revenue was down 56.6% compared to the same quarter last year. As a group, research analysts anticipate that Micron Technology, Inc. will post -5.07 earnings per share for the current fiscal year.

Micron Technology Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 25th. Stockholders of record on Monday, July 10th were given a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.72%. The ex-dividend date was Friday, July 7th. Micron Technology’s dividend payout ratio (DPR) is -17.16%.

Insider Transactions at Micron Technology

In related news, SVP Michael W. Bokan sold 17,000 shares of the company’s stock in a transaction dated Wednesday, August 16th. The shares were sold at an average price of $64.58, for a total transaction of $1,097,860.00. Following the completion of the sale, the senior vice president now owns 133,177 shares of the company’s stock, valued at approximately $8,600,570.66. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Micron Technology news, SVP Michael W. Bokan sold 17,000 shares of the firm’s stock in a transaction on Wednesday, August 16th. The stock was sold at an average price of $64.58, for a total value of $1,097,860.00. Following the completion of the sale, the senior vice president now directly owns 133,177 shares of the company’s stock, valued at approximately $8,600,570.66. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Scott R. Allen sold 13,687 shares of the business’s stock in a transaction dated Monday, July 10th. The shares were sold at an average price of $60.80, for a total transaction of $832,169.60. Following the transaction, the chief accounting officer now directly owns 32,094 shares in the company, valued at approximately $1,951,315.20. The disclosure for this sale can be found here. Over the last three months, insiders have sold 188,810 shares of company stock valued at $12,977,820. Corporate insiders own 0.33% of the company’s stock.

Analysts Set New Price Targets

MU has been the subject of several research reports. Wedbush boosted their price objective on shares of Micron Technology from $65.00 to $80.00 in a research report on Monday, June 26th. Wolfe Research assumed coverage on Micron Technology in a research note on Wednesday, July 19th. They set an “outperform” rating and a $80.00 price target on the stock. StockNews.com initiated coverage on shares of Micron Technology in a research note on Thursday. They issued a “sell” rating for the company. BMO Capital Markets boosted their price target on shares of Micron Technology from $67.00 to $80.00 in a report on Friday, May 26th. Finally, 22nd Century Group reiterated a “maintains” rating on shares of Micron Technology in a research note on Thursday, June 29th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and twenty-three have issued a buy rating to the company’s stock. Based on data from MarketBeat, Micron Technology currently has an average rating of “Moderate Buy” and an average price target of $73.43.

Check Out Our Latest Stock Report on MU

Micron Technology Company Profile

(Free Report)

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 comprises DRAM products, which are dynamic random access memory semiconductor devices with low latency that provide high-speed data retrieval; NAND products that are non-volatile and re-writeable semiconductor storage devices; and NOR memory products, which are non-volatile re-writable semiconductor memory devices that provide fast read speeds under the Micron and Crucial brands, as well as through private labels.

Further Reading

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