Tokio Marine Asset Management Co. Ltd. Has $2.95 Million Stock Position in Micron Technology, Inc. (NASDAQ:MU)

Tokio Marine Asset Management Co. Ltd. grew its stake in Micron Technology, Inc. (NASDAQ:MU) by 6.1% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 33,935 shares of the semiconductor manufacturer’s stock after purchasing an additional 1,941 shares during the quarter. Tokio Marine Asset Management Co. Ltd.’s holdings in Micron Technology were worth $2,949,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the stock. S Bank Fund Management Ltd acquired a new position in shares of Micron Technology in the 1st quarter valued at $7,067,000. National Pension Service increased its holdings in Micron Technology by 5.3% during the 1st quarter. National Pension Service now owns 2,743,110 shares of the semiconductor manufacturer’s stock worth $238,349,000 after purchasing an additional 137,347 shares in the last quarter. Mondrian Investment Partners LTD increased its holdings in Micron Technology by 42.0% during the 1st quarter. Mondrian Investment Partners LTD now owns 507,751 shares of the semiconductor manufacturer’s stock worth $44,118,000 after purchasing an additional 150,106 shares in the last quarter. Central Asset Investments & Management Holdings HK Ltd bought a new position in Micron Technology during the 1st quarter worth about $746,000. Finally, Clal Insurance Enterprises Holdings Ltd increased its holdings in Micron Technology by 7.8% during the 1st quarter. Clal Insurance Enterprises Holdings Ltd now owns 903,000 shares of the semiconductor manufacturer’s stock worth $78,566,000 after purchasing an additional 65,000 shares in the last quarter. Institutional investors and hedge funds own 80.84% of the company’s stock.

Insider Buying and Selling at Micron Technology

In other Micron Technology news, EVP Scott J. Deboer sold 20,000 shares of the business’s stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $110.00, for a total transaction of $2,200,000.00. Following the completion of the transaction, the executive vice president directly owned 186,353 shares in the company, valued at $20,498,830. The trade was a 9.69% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP April S. Arnzen sold 15,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 24th. The shares were sold at an average price of $125.12, for a total transaction of $1,876,800.00. Following the transaction, the executive vice president owned 148,167 shares of the company’s stock, valued at approximately $18,538,655.04. This represents a 9.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 286,042 shares of company stock valued at $34,679,277. 0.30% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research firms recently issued reports on MU. Stifel Nicolaus lifted their target price on Micron Technology from $130.00 to $145.00 and gave the company a “buy” rating in a research report on Thursday, June 26th. Robert W. Baird lifted their price target on Micron Technology from $163.00 to $200.00 and gave the stock an “outperform” rating in a report on Friday, June 27th. Arete Research upgraded Micron Technology to a “strong-buy” rating in a report on Friday, July 18th. Mizuho lifted their price target on Micron Technology from $124.00 to $130.00 and gave the stock an “outperform” rating in a report on Thursday, June 5th. Finally, Wells Fargo & Company lifted their price target on Micron Technology from $150.00 to $170.00 and gave the stock an “overweight” rating in a report on Thursday, June 26th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Micron Technology presently has an average rating of “Moderate Buy” and a consensus target price of $147.24.

Micron Technology Stock Down 2.7%

NASDAQ MU opened at $124.27 on Thursday. The company has a 50 day moving average of $117.39 and a 200-day moving average of $98.60. Micron Technology, Inc. has a 1-year low of $61.54 and a 1-year high of $129.85. The company has a current ratio of 2.75, a quick ratio of 1.89 and a debt-to-equity ratio of 0.30. The company has a market cap of $139.07 billion, a price-to-earnings ratio of 22.39 and a beta of 1.37.

Micron Technology (NASDAQ:MU) last issued its quarterly earnings results on Wednesday, June 25th. The semiconductor manufacturer reported $1.91 earnings per share for the quarter, topping analysts’ consensus estimates of $1.57 by $0.34. Micron Technology had a net margin of 18.41% and a return on equity of 13.60%. The company had revenue of $9.30 billion during the quarter, compared to the consensus estimate of $8.83 billion. During the same quarter in the prior year, the firm posted $0.62 EPS. On average, equities research analysts expect that Micron Technology, Inc. will post 6.08 earnings per share for the current fiscal year.

Micron Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 22nd. Shareholders of record on Monday, July 7th were given a dividend of $0.115 per share. This represents a $0.46 annualized dividend and a yield of 0.4%. The ex-dividend date was Monday, July 7th. Micron Technology’s payout ratio is currently 8.29%.

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.