Stablepoint Partners LLC Acquires Shares of 6,762 Micron Technology, Inc. (NASDAQ:MU)

Stablepoint Partners LLC acquired a new position in shares of Micron Technology, Inc. (NASDAQ:MUFree Report) in the 4th quarter, according to its most recent disclosure with the SEC. The fund acquired 6,762 shares of the semiconductor manufacturer’s stock, valued at approximately $569,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of MU. Highline Wealth Partners LLC acquired a new stake in Micron Technology during the third quarter worth approximately $26,000. Davis Capital Management acquired a new stake in Micron Technology during the 3rd quarter worth $30,000. True Wealth Design LLC lifted its position in Micron Technology by 1,096.3% in the third quarter. True Wealth Design LLC now owns 323 shares of the semiconductor manufacturer’s stock valued at $33,000 after acquiring an additional 296 shares during the last quarter. DT Investment Partners LLC boosted its stake in Micron Technology by 261.1% in the third quarter. DT Investment Partners LLC now owns 325 shares of the semiconductor manufacturer’s stock valued at $34,000 after acquiring an additional 235 shares in the last quarter. Finally, Stone House Investment Management LLC grew its holdings in shares of Micron Technology by 602.2% during the third quarter. Stone House Investment Management LLC now owns 323 shares of the semiconductor manufacturer’s stock worth $34,000 after purchasing an additional 277 shares during the last quarter. Institutional investors and hedge funds own 80.84% of the company’s stock.

Micron Technology Stock Performance

Shares of MU opened at $103.19 on Monday. The company has a quick ratio of 1.75, a current ratio of 2.72 and a debt-to-equity ratio of 0.28. Micron Technology, Inc. has a 52-week low of $79.15 and a 52-week high of $157.54. The company has a 50-day simple moving average of $98.36 and a 200-day simple moving average of $101.32. The company has a market capitalization of $114.97 billion, a PE ratio of 29.74 and a beta of 1.18.

Micron Technology (NASDAQ:MUGet Free Report) last issued its earnings results on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.60 by $0.19. The company had revenue of $8.71 billion during the quarter, compared to analysts’ expectations of $8.71 billion. Micron Technology had a net margin of 13.34% and a return on equity of 8.32%. The firm’s quarterly revenue was up 84.3% compared to the same quarter last year. During the same period last year, the company posted ($0.95) earnings per share. Equities research analysts predict that Micron Technology, Inc. will post 6.29 earnings per share for the current fiscal year.

Micron Technology Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Monday, December 30th were given a dividend of $0.115 per share. The ex-dividend date of this dividend was Monday, December 30th. This represents a $0.46 dividend on an annualized basis and a yield of 0.45%. Micron Technology’s payout ratio is 13.26%.

Analysts Set New Price Targets

A number of analysts recently issued reports on MU shares. Morgan Stanley decreased their target price on Micron Technology from $114.00 to $98.00 and set an “equal weight” rating for the company in a research report on Thursday, December 19th. Wedbush reissued an “outperform” rating and issued a $140.00 price objective on shares of Micron Technology in a report on Tuesday, December 17th. The Goldman Sachs Group cut their target price on shares of Micron Technology from $145.00 to $128.00 and set a “buy” rating on the stock in a report on Thursday, December 19th. TD Cowen decreased their price target on shares of Micron Technology from $135.00 to $125.00 and set a “buy” rating for the company in a research note on Thursday, December 19th. Finally, Sanford C. Bernstein dropped their price objective on shares of Micron Technology from $140.00 to $120.00 and set an “outperform” rating on the stock in a research note on Wednesday, December 18th. One research analyst has rated the stock with a sell rating, three have given a hold rating and twenty-three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $135.24.

Check Out Our Latest Analysis on MU

Insider Buying and Selling at Micron Technology

In related news, EVP April S. Arnzen sold 4,890 shares of Micron Technology stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $85.21, for a total transaction of $416,676.90. Following the completion of the transaction, the executive vice president now directly owns 181,223 shares in the company, valued at $15,442,011.83. The trade was a 2.63 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.30% of the stock is owned by corporate insiders.

About Micron Technology

(Free Report)

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.

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

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