Micron Technology, Inc. (NASDAQ:MU) Shares Acquired by Lazard Asset Management LLC

Lazard Asset Management LLC increased its holdings in shares of Micron Technology, Inc. (NASDAQ:MU) by 7.1% during the 4th quarter, Holdings Channel.com reports. The fund owned 1,760,428 shares of the semiconductor manufacturer’s stock after buying an additional 116,314 shares during the period. Lazard Asset Management LLC’s holdings in Micron Technology were worth $148,156,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. Beacon Capital Management LLC lifted its stake in shares of Micron Technology by 114.9% in the 4th quarter. Beacon Capital Management LLC now owns 374 shares of the semiconductor manufacturer’s stock worth $31,000 after acquiring an additional 200 shares during the period. Midwest Capital Advisors LLC acquired a new stake in shares of Micron Technology in the fourth quarter worth $33,000. Comprehensive Financial Planning Inc. PA purchased a new stake in Micron Technology in the 4th quarter worth approximately $34,000. Curio Wealth LLC purchased a new position in shares of Micron Technology during the 4th quarter valued at $34,000. Finally, Activest Wealth Management increased its stake in shares of Micron Technology by 583.3% in the fourth quarter. Activest Wealth Management now owns 410 shares of the semiconductor manufacturer’s stock worth $34,000 after acquiring an additional 350 shares during the last quarter. Institutional investors and hedge funds own 80.84% of the company’s stock.

Analysts Set New Price Targets

MU has been the topic of several research reports. Barclays dropped their target price on Micron Technology from $115.00 to $95.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 22nd. China Renaissance lowered Micron Technology from a “buy” rating to a “hold” rating and set a $84.00 target price for the company. in a report on Wednesday, March 26th. Wells Fargo & Company reiterated an “equal weight” rating on shares of Micron Technology in a research note on Monday, April 28th. Rosenblatt Securities lowered their price target on Micron Technology from $250.00 to $200.00 and set a “buy” rating on the stock in a research report on Friday, March 21st. Finally, Wedbush restated an “underperform” rating on shares of Micron Technology in a research note on Monday, April 28th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $126.48.

Insider Transactions at Micron Technology

In other news, Director Mary Pat Mccarthy sold 2,404 shares of the firm’s stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $80.00, for a total value of $192,320.00. Following the sale, the director now directly owns 24,954 shares in the company, valued at approximately $1,996,320. This trade represents a 8.79% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP April S. Arnzen sold 15,000 shares of the business’s stock in a transaction on Tuesday, March 25th. The stock was sold at an average price of $96.18, for a total value of $1,442,700.00. Following the transaction, the executive vice president now owns 164,769 shares in the company, valued at approximately $15,847,482.42. This trade represents a 8.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 19,808 shares of company stock worth $1,858,424. 0.30% of the stock is currently owned by insiders.

Micron Technology Stock Up 0.8%

Micron Technology stock opened at $85.86 on Monday. Micron Technology, Inc. has a 12 month low of $61.54 and a 12 month high of $157.54. The stock has a fifty day simple moving average of $82.62 and a two-hundred day simple moving average of $92.89. 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) last posted its quarterly earnings results on Thursday, March 20th. The semiconductor manufacturer reported $1.56 earnings per share for the quarter, topping analysts’ consensus estimates 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. The company’s revenue was up 38.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.42 earnings per share. Equities analysts predict that Micron Technology, Inc. will post 6.08 EPS for the current fiscal year.

Micron Technology Announces Dividend

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