Micron Technology, Inc. (NASDAQ:MU) Shares Bought by Mark Asset Management LP

Mark Asset Management LP lifted its holdings in shares of Micron Technology, Inc. (NASDAQ:MU) by 38.1% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 55,237 shares of the semiconductor manufacturer’s stock after purchasing an additional 15,237 shares during the quarter. Micron Technology comprises about 0.7% of Mark Asset Management LP’s investment portfolio, making the stock its 29th biggest position. Mark Asset Management LP’s holdings in Micron Technology were worth $7,265,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Maverick Capital Ltd. lifted its position in Micron Technology by 3,471.0% during the second quarter. Maverick Capital Ltd. now owns 638,639 shares of the semiconductor manufacturer’s stock worth $84,000,000 after buying an additional 620,755 shares during the period. MBB Public Markets I LLC increased its stake in shares of Micron Technology by 12.4% during the 2nd quarter. MBB Public Markets I LLC now owns 417,731 shares of the semiconductor manufacturer’s stock valued at $54,944,000 after acquiring an additional 46,156 shares during the last quarter. Deerfield Management Company L.P. Series C lifted its holdings in shares of Micron Technology by 78.9% during the 2nd quarter. Deerfield Management Company L.P. Series C now owns 6,793 shares of the semiconductor manufacturer’s stock worth $893,000 after acquiring an additional 2,996 shares during the period. APG Asset Management N.V. raised its stake in Micron Technology by 12.6% during the second quarter. APG Asset Management N.V. now owns 783,544 shares of the semiconductor manufacturer’s stock worth $96,160,000 after purchasing an additional 87,485 shares during the period. Finally, APG Asset Management US Inc. grew its stake in shares of Micron Technology by 3.8% during the 2nd quarter. APG Asset Management US Inc. now owns 350,572 shares of the semiconductor manufacturer’s stock valued at $46,107,000 after buying an additional 12,976 shares during the period. Hedge funds and other institutional investors own 80.84% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on MU. Raymond James boosted their price target on Micron Technology from $125.00 to $140.00 and gave the company an “outperform” rating in a research report on Thursday. Needham & Company LLC reissued a “buy” rating and issued a $140.00 price objective on shares of Micron Technology in a research report on Thursday. Robert W. Baird lifted their target price on shares of Micron Technology from $150.00 to $172.00 and gave the company an “outperform” rating in a report on Monday, June 24th. KeyCorp lowered their price target on Micron Technology from $165.00 to $145.00 and set an “overweight” rating for the company in a report on Tuesday, August 6th. Finally, Bank of America raised their price objective on Micron Technology from $110.00 to $125.00 and gave the company a “buy” rating in a research report on Thursday. One research analyst has rated the stock with a sell rating, two have given a hold rating and twenty-five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $145.23.

Micron Technology Price Performance

Shares of NASDAQ:MU opened at $109.88 on Friday. The company has a market cap of $121.84 billion, a PE ratio of -77.38, a P/E/G ratio of 0.20 and a beta of 1.17. Micron Technology, Inc. has a fifty-two week low of $63.83 and a fifty-two week high of $157.54. The firm has a 50-day simple moving average of $97.92 and a 200 day simple moving average of $114.64. The company has a quick ratio of 2.16, a current ratio of 3.41 and a debt-to-equity ratio of 0.29.

Micron Technology (NASDAQ:MU) last posted its earnings results on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 EPS for the quarter, beating the consensus estimate of $0.97 by $0.21. Micron Technology had a negative return on equity of 4.01% and a negative net margin of 7.20%. The company had revenue of $7.75 billion during the quarter, compared to analyst estimates of $7.65 billion. During the same period in the prior year, the company earned ($1.21) earnings per share. The business’s revenue was up 93.3% compared to the same quarter last year. On average, sell-side analysts anticipate that Micron Technology, Inc. will post 0.61 EPS for the current year.

Micron Technology Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 23rd. Stockholders of record on Monday, October 7th will be given a dividend of $0.115 per share. The ex-dividend date is Monday, October 7th. This represents a $0.46 annualized dividend and a dividend yield of 0.42%. Micron Technology’s dividend payout ratio is currently -32.39%.

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.