1832 Asset Management LP reduced its position in shares of Micron Technology, Inc. (NASDAQ: MU – Get Rating) by 39.2% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 555,979 shares of the semiconductor manufacturer’s stock after selling 357,955 shares during the quarter. 1832 Asset Management LP’s holdings in Micron Technology were worth $ 52,291,000 as of its most recent SEC filing.
Several other institutional investors have also recently added to or reduced their stakes in MU. OLD Mission Capital LLC bought a new position in shares of Micron Technology during the 3rd quarter valued at approximately $ 251,000. New World Advisors LLC purchased a new position in Micron Technology in the 3rd quarter worth approximately $ 339,000. Evergreen Capital Management LLC lifted its holdings in Micron Technology by 4.9% in the 3rd quarter. Evergreen Capital Management LLC now owns 4,639 shares of the semiconductor manufacturer’s stock worth $ 329,000 after purchasing an additional 218 shares in the last quarter. Claraphi Advisory Network LLC lifted its holdings in Micron Technology by 136.9% in the 3rd quarter. Claraphi Advisory Network LLC now owns 8,746 shares of the semiconductor manufacturer’s stock worth $ 621,000 after purchasing an additional 5,054 shares in the last quarter. Finally, Certified Advisory Corp lifted its holdings in Micron Technology by 23.6% in the 3rd quarter. Certified Advisory Corp now owns 9,715 shares of the semiconductor manufacturer’s stock worth $ 690,000 after purchasing an additional 1,852 shares in the last quarter. Institutional investors and hedge funds own 80.35% of the company stock.
In other news, SVP April S. Arnzen sold 5,600 shares of the stock in a transaction on Thursday, March 24th. The stock was sold at an average price of $ 76.00, for a total transaction of $ 425,600.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.32% of the stock is currently owned by corporate insiders.
MU has been the topic of a number of research analyst reports. Rosenblatt Securities reissued a “buy” rating and issued a $ 165.00 price target on shares of Micron Technology in a report on Wednesday, March 30th. Citigroup lowered their price target on Micron Technology from $ 120.00 to $ 100.00 and set a “neutral” rating on the stock in a report on Monday, June 6th. Morgan Stanley upped their price objective on Micron Technology from $ 77.00 to $ 83.00 and gave the stock an “equal weight” rating in a report on Wednesday, March 30th. StockNews.com cut Micron Technology from a “strong-buy” rating to a “buy” rating in a report on Friday, June 3rd. Finally, Susquehanna reaffirmed a “buy” rating and set a $ 115.00 price objective on shares of Micron Technology in a report on Monday, May 16th. One analyst has rated the stock with a sell rating, four have given a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $ 113.04.
Shares of Micron Technology stock opened at $ 62.62 on Monday. The stock’s fifty day moving average is $ 70.70 and its two-hundred day moving average is $ 80.52. The company has a market capitalization of $ 69.93 billion, a PE ratio of 7.88, a price-to-earnings-growth ratio of 0.21 and a beta of 1.17. The company has a quick ratio of 2.33, a current ratio of 3.11 and a debt-to-equity ratio of 0.15. Micron Technology, Inc. has a 52 week low of $ 62.28 and a 52 week high of $ 98.45.
Micron Technology (NASDAQ: MU – Get Rating) last posted its quarterly earnings results on Tuesday, March 29th. The semiconductor manufacturer reported $ 2.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $ 1.85 by $ 0.20. Micron Technology had a return on equity of 21.15% and a net margin of 28.95%. The business had revenue of $ 7.79 billion for the quarter, compared to the consensus estimate of $ 7.53 billion. During the same quarter in the prior year, the company earned $ 0.90 EPS. The business’s revenue was up 25.6% compared to the same quarter last year. As a group, research analysts anticipate that Micron Technology, Inc. will post 9.15 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, April 26th. Stockholders of record on Monday, April 11th were given a dividend of $ 0.10 per share. This represents a $ 0.40 dividend on an annualized basis and a dividend yield of 0.64%. The ex-dividend date was Friday, April 8th. Micron Technology’s payout ratio is 5.03%.
Micron Technology Company Profile: (Get Rating)
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 provides memory and storage technologies comprises DRAM products, which are dynamic random access memory semiconductor devices with low latency that provide high-speed data retrieval; NAND products that are non-volatile and re-writeable semiconductor storage devices; and NOR memory products, which are 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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