Mirabella Financial Services LLP Buys 86,139 Shares of Micron Technology, Inc. (NASDAQ:MU)

Mirabella Financial Services LLP lifted its position in Micron Technology, Inc. (NASDAQ:MU) by 1,807.0% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 90,906 shares of the semiconductor manufacturer’s stock after purchasing an additional 86,139 shares during the period. Mirabella Financial Services LLP’s holdings in Micron Technology were worth $9,428,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. EntryPoint Capital LLC purchased a new stake in shares of Micron Technology during the first quarter worth about $41,000. Advisors Asset Management Inc. lifted its stake in Micron Technology by 513.5% in the first quarter. Advisors Asset Management Inc. now owns 5,902 shares of the semiconductor manufacturer’s stock worth $696,000 after acquiring an additional 4,940 shares during the period. Gamco Investors INC. ET AL purchased a new stake in Micron Technology in the first quarter worth $290,000. Waverly Advisors LLC boosted its holdings in Micron Technology by 32.4% in the first quarter. Waverly Advisors LLC now owns 15,077 shares of the semiconductor manufacturer’s stock valued at $1,777,000 after acquiring an additional 3,689 shares in the last quarter. Finally, Janus Henderson Group PLC increased its position in Micron Technology by 16.8% during the 1st quarter. Janus Henderson Group PLC now owns 2,126,081 shares of the semiconductor manufacturer’s stock valued at $250,612,000 after purchasing an additional 306,229 shares during the period. 80.84% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Micron Technology

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of the stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $113.00, for a total transaction of $552,570.00. Following the sale, the executive vice president now directly owns 135,830 shares in the company, valued at $15,348,790. This represents a 3.47 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.32% of the company’s stock.

Micron Technology Trading Up 1.3 %

Shares of Micron Technology stock opened at $104.01 on Monday. Micron Technology, Inc. has a twelve month low of $72.93 and a twelve month high of $157.54. The firm’s 50-day moving average price is $102.46 and its 200 day moving average price is $112.13. The company has a current ratio of 2.64, a quick ratio of 1.68 and a debt-to-equity ratio of 0.29. The firm has a market capitalization of $115.32 billion, a PE ratio of 150.94 and a beta of 1.18.

Micron Technology (NASDAQ:MU) last issued its quarterly earnings results on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 EPS for the quarter, topping the consensus estimate of $0.97 by $0.21. The firm had revenue of $7.75 billion during the quarter, compared to analysts’ expectations of $7.65 billion. Micron Technology had a return on equity of 1.58% and a net margin of 3.10%. The firm’s revenue for the quarter was up 93.3% on a year-over-year basis. During the same period in the previous year, the business earned ($1.21) earnings per share. On average, sell-side analysts predict that Micron Technology, Inc. will post 8.31 EPS for the current fiscal year.

Micron Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 23rd. Shareholders of record on Monday, October 7th were issued a $0.115 dividend. The ex-dividend date of this dividend was Monday, October 7th. This represents a $0.46 dividend on an annualized basis and a yield of 0.44%. Micron Technology’s payout ratio is 67.65%.

Wall Street Analyst Weigh In

MU has been the topic of a number of research reports. Wells Fargo & Company cut their target price on shares of Micron Technology from $190.00 to $175.00 and set an “overweight” rating on the stock in a research note on Wednesday, September 18th. Wedbush reaffirmed an “outperform” rating and issued a $140.00 target price on shares of Micron Technology in a research report on Thursday, September 26th. Stifel Nicolaus lowered their price objective on Micron Technology from $165.00 to $135.00 and set a “buy” rating for the company in a research note on Thursday, September 19th. BNP Paribas cut Micron Technology from an “outperform” rating to an “underperform” rating and cut their target price for the stock from $140.00 to $67.00 in a research note on Thursday, September 12th. Finally, Citigroup dropped their price target on shares of Micron Technology from $175.00 to $150.00 and set a “buy” rating on the stock in a research note on Tuesday, September 17th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-six have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $143.04.

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.