E Fund Management Co. Ltd. Has $6.16 Million Stock Holdings in Micron Technology, Inc. (NASDAQ:MU)

E Fund Management Co. Ltd. increased its stake in shares of Micron Technology, Inc. (NASDAQ:MU) by 47.7% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 46,852 shares of the semiconductor manufacturer’s stock after acquiring an additional 15,132 shares during the period. E Fund Management Co. Ltd.’s holdings in Micron Technology were worth $6,162,000 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 MU. TrinityPoint Wealth LLC grew its position in Micron Technology by 33.9% in the fourth quarter. TrinityPoint Wealth LLC now owns 34,540 shares of the semiconductor manufacturer’s stock valued at $2,948,000 after purchasing an additional 8,736 shares in the last quarter. Gladstone Institutional Advisory LLC bought a new position in Micron Technology in the fourth quarter valued at $241,000. Coldstream Capital Management Inc. grew its position in Micron Technology by 4.2% in the fourth quarter. Coldstream Capital Management Inc. now owns 11,702 shares of the semiconductor manufacturer’s stock valued at $999,000 after purchasing an additional 476 shares in the last quarter. EverSource Wealth Advisors LLC grew its position in Micron Technology by 12.2% in the fourth quarter. EverSource Wealth Advisors LLC now owns 3,889 shares of the semiconductor manufacturer’s stock valued at $332,000 after purchasing an additional 424 shares in the last quarter. Finally, Alpha Family Trust bought a new position in Micron Technology in the fourth quarter valued at $535,000. 80.84% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Micron Technology

In related news, EVP April S. Arnzen sold 4,890 shares of Micron Technology stock in a transaction that occurred on Thursday, June 27th. The shares were sold at an average price of $135.86, for a total transaction of $664,355.40. Following the sale, the executive vice president now directly owns 142,321 shares of the company’s stock, valued at approximately $19,335,731.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.32% of the stock is currently owned by insiders.

Micron Technology Price Performance

Shares of NASDAQ:MU opened at $88.73 on Wednesday. The firm has a 50 day moving average of $102.46 and a 200-day moving average of $114.96. The stock has a market capitalization of $98.39 billion, a PE ratio of -62.49 and a beta of 1.17. The company has a current ratio of 3.41, a quick ratio of 2.16 and a debt-to-equity ratio of 0.29. Micron Technology, Inc. has a 12 month low of $63.83 and a 12 month high of $157.54.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings results on Wednesday, June 26th. The semiconductor manufacturer reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.14. The company had revenue of $6.81 billion for the quarter, compared to analyst estimates of $6.67 billion. Micron Technology had a negative net margin of 7.20% and a negative return on equity of 4.01%. The firm’s revenue was up 81.5% on a year-over-year basis. During the same period in the previous year, the firm posted ($1.57) EPS. On average, equities research analysts predict that Micron Technology, Inc. will post 0.61 EPS for the current fiscal year.

Micron Technology Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 23rd. Investors of record on Monday, July 8th were issued a dividend of $0.115 per share. This represents a $0.46 annualized dividend and a dividend yield of 0.52%. The ex-dividend date was Monday, July 8th. Micron Technology’s dividend payout ratio (DPR) is presently -32.39%.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on MU shares. Bank of America raised their target price on shares of Micron Technology from $144.00 to $170.00 and gave the company a “buy” rating in a research report on Monday, June 17th. Rosenblatt Securities reissued a “buy” rating and issued a $225.00 price objective on shares of Micron Technology in a research report on Tuesday, June 25th. Susquehanna decreased their price objective on shares of Micron Technology from $185.00 to $175.00 and set a “positive” rating for the company in a research report on Thursday, August 22nd. The Goldman Sachs Group lifted their price objective on shares of Micron Technology from $138.00 to $158.00 and gave the company a “buy” rating in a research report on Thursday, June 27th. Finally, Wolfe Research lifted their price objective on shares of Micron Technology from $150.00 to $200.00 and gave the company an “outperform” rating in a research report on Friday, June 21st. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-five have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $149.12.

Micron Technology 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.