Himension Capital Singapore PTE. LTD. Increases Position in Micron Technology, Inc. (NASDAQ:MU)

Himension Capital Singapore PTE. LTD. boosted its holdings in shares of Micron Technology, Inc. (NASDAQ:MU) by 41.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 70,595 shares of the semiconductor manufacturer’s stock after purchasing an additional 20,524 shares during the quarter. Micron Technology makes up 0.4% of Himension Capital Singapore PTE. LTD.’s holdings, making the stock its 25th largest position. Himension Capital Singapore PTE. LTD.’s holdings in Micron Technology were worth $5,941,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Norges Bank acquired a new stake in shares of Micron Technology in the fourth quarter worth approximately $1,470,875,000. Nomura Asset Management Co. Ltd. lifted its holdings in Micron Technology by 339.6% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 2,255,000 shares of the semiconductor manufacturer’s stock valued at $189,781,000 after purchasing an additional 1,742,073 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in Micron Technology during the 4th quarter worth $135,865,000. Geode Capital Management LLC grew its holdings in shares of Micron Technology by 3.9% during the third quarter. Geode Capital Management LLC now owns 23,723,545 shares of the semiconductor manufacturer’s stock worth $2,451,987,000 after buying an additional 892,607 shares in the last quarter. Finally, Vanguard Group Inc. raised its position in shares of Micron Technology by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 99,857,205 shares of the semiconductor manufacturer’s stock valued at $8,403,982,000 after buying an additional 888,087 shares during the last quarter. 80.84% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director Mary Pat Mccarthy sold 2,404 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $92.93, for a total value of $223,403.72. Following the completion of the transaction, the director now directly owns 27,358 shares of the company’s stock, valued at $2,542,378.94. This represents a 8.08 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP April S. Arnzen sold 15,000 shares of the firm’s stock in a transaction that occurred 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 sale, the executive vice president now directly owns 164,769 shares in the company, valued at approximately $15,847,482.42. The trade was a 8.34 % decrease in their position. The disclosure for this sale can be found here. 0.30% of the stock is currently owned by company insiders.

Micron Technology Stock Performance

Shares of MU stock opened at $64.72 on Friday. The firm has a 50 day moving average of $93.42 and a two-hundred day moving average of $98.16. The stock has a market capitalization of $72.33 billion, a PE ratio of 18.65 and a beta of 1.23. 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 52 week low of $63.86 and a 52 week high of $157.54.

Micron Technology (NASDAQ:MU) last released its earnings results on Thursday, March 20th. The semiconductor manufacturer reported $1.56 EPS for the quarter, topping the consensus estimate of $1.43 by $0.13. The firm had revenue of $8.05 billion during the quarter, compared to analysts’ expectations of $7.93 billion. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. Micron Technology’s revenue for the quarter was up 38.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.42 EPS. On average, research analysts predict that Micron Technology, Inc. will post 6.08 EPS for the current fiscal year.

Micron Technology Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be paid a $0.115 dividend. The ex-dividend date is Monday, March 31st. This represents a $0.46 dividend on an annualized basis and a yield of 0.71%. Micron Technology’s dividend payout ratio is currently 11.03%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on MU. JPMorgan Chase & Co. dropped their price objective on shares of Micron Technology from $145.00 to $135.00 and set an “overweight” rating for the company in a research note on Friday, March 21st. Mizuho cut their price target on Micron Technology from $135.00 to $115.00 and set an “outperform” rating for the company in a report on Thursday, December 19th. Needham & Company LLC lowered their price objective on Micron Technology from $140.00 to $120.00 and set a “buy” rating on the stock in a research note on Thursday, December 19th. Wedbush reiterated an “outperform” rating and set a $125.00 price target on shares of Micron Technology in a report on Monday, March 17th. Finally, UBS Group upped their price objective on shares of Micron Technology from $125.00 to $130.00 and gave the company a “buy” rating in a report on Monday, March 17th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $129.76.

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.