Nan Shan Life Insurance Co. Ltd. Purchases 508,491 Shares of Micron Technology, Inc. (NASDAQ:MU)

Nan Shan Life Insurance Co. Ltd. lifted its position in Micron Technology, Inc. (NASDAQ:MU) by 424.4% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 628,291 shares of the semiconductor manufacturer’s stock after acquiring an additional 508,491 shares during the period. Nan Shan Life Insurance Co. Ltd.’s holdings in Micron Technology were worth $47,235,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of MU. Kistler Tiffany Companies LLC lifted its stake in shares of Micron Technology by 120.0% in the third quarter. Kistler Tiffany Companies LLC now owns 550 shares of the semiconductor manufacturer’s stock worth $26,000 after buying an additional 300 shares in the last quarter. Eudaimonia Partners LLC lifted its stake in shares of Micron Technology by 35.5% in the third quarter. Eudaimonia Partners LLC now owns 573 shares of the semiconductor manufacturer’s stock worth $27,000 after buying an additional 150 shares in the last quarter. Clearview Wealth Advisors LLC bought a new position in shares of Micron Technology in the fourth quarter worth approximately $27,000. DB Wealth Management Group LLC bought a new position in Micron Technology during the fourth quarter valued at approximately $30,000. Finally, Dimension Capital Management LLC bought a new position in Micron Technology during the third quarter valued at approximately $32,000. Hedge funds and other institutional investors own 80.43% of the company’s stock.

In other Micron Technology news, CFO David Zinsner sold 8,050 shares of the stock in a transaction on Tuesday, February 16th. The shares were sold at an average price of $87.90, for a total transaction of $707,595.00. Following the completion of the transaction, the chief financial officer now owns 133,464 shares in the company, valued at $11,731,485.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Scott J. Deboer sold 10,000 shares of the stock in a transaction on Thursday, December 3rd. The shares were sold at an average price of $70.72, for a total transaction of $707,200.00. Following the transaction, the executive vice president now owns 138,722 shares of the company’s stock, valued at approximately $9,810,419.84. The disclosure for this sale can be found here. Insiders have sold 122,566 shares of company stock valued at $9,485,357 over the last ninety days. 0.18% of the stock is currently owned by corporate insiders.

MU traded up $0.83 during trading on Tuesday, hitting $87.11. 1,005,465 shares of the company traded hands, compared to its average volume of 18,534,713. The company has a market cap of $97.45 billion, a PE ratio of 32.56, a P/E/G ratio of 1.73 and a beta of 1.37. The stock’s 50-day simple moving average is $81.99 and its two-hundred day simple moving average is $62.28. Micron Technology, Inc. has a 1 year low of $31.13 and a 1 year high of $91.49. The company has a current ratio of 2.91, a quick ratio of 1.94 and a debt-to-equity ratio of 0.16.

Micron Technology (NASDAQ:MU) last posted its earnings results on Wednesday, January 6th. The semiconductor manufacturer reported $0.78 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.71 by $0.07. The company had revenue of $5.77 billion during the quarter, compared to analysts’ expectations of $5.66 billion. Micron Technology had a net margin of 13.59% and a return on equity of 8.46%. Micron Technology’s quarterly revenue was up 12.2% on a year-over-year basis. During the same period last year, the company posted $0.48 earnings per share. Equities analysts expect that Micron Technology, Inc. will post 3.64 EPS for the current year.

A number of research analysts recently weighed in on MU shares. Summit Insights upgraded shares of Micron Technology from a “hold” rating to a “buy” rating in a research report on Friday, January 8th. Credit Suisse Group increased their price objective on shares of Micron Technology from $90.00 to $110.00 and gave the company an “outperform” rating in a research report on Friday, January 8th. Zacks Investment Research downgraded shares of Micron Technology from a “strong-buy” rating to a “hold” rating and set a $84.00 price objective on the stock. in a research report on Tuesday, February 2nd. Raymond James increased their price objective on shares of Micron Technology from $80.00 to $110.00 and gave the company a “strong-buy” rating in a research report on Friday, January 8th. Finally, Evercore ISI increased their price objective on shares of Micron Technology from $90.00 to $105.00 and gave the company an “outperform” rating in a research report on Friday, January 8th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, twenty-six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Micron Technology has an average rating of “Buy” and an average target price of $87.61.

Micron Technology Profile

Micron Technology, Inc designs, manufactures, and sells memory and storage products worldwide. The company operates through four segments: Compute and Networking Business Unit, Mobile Business Unit, Storage Business Unit, and Embedded Business Unit. It offers memory and storage technologies, including DRAM, NAND, NOR, and 3D XPoint memory under the Micron and Crucial brands, as well as through private labels.

See Also: Hedge Funds Explained

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Institutional Ownership by Quarter for Micron Technology (NASDAQ:MU)

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