HMS Capital Management LLC Grows Stake in Micron Technology, Inc. (NASDAQ:MU)

HMS Capital Management LLC boosted its position in shares of Micron Technology, Inc. (NASDAQ:MUFree Report) by 0.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 19,842 shares of the semiconductor manufacturer’s stock after purchasing an additional 138 shares during the quarter. Micron Technology makes up 1.0% of HMS Capital Management LLC’s portfolio, making the stock its 23rd biggest holding. HMS Capital Management LLC’s holdings in Micron Technology were worth $1,693,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the company. Annis Gardner Whiting Capital Advisors LLC purchased a new position in shares of Micron Technology during the third quarter valued at approximately $28,000. OFI Invest Asset Management purchased a new position in shares of Micron Technology during the 3rd quarter worth $27,000. VisionPoint Advisory Group LLC grew its position in shares of Micron Technology by 68.3% in the third quarter. VisionPoint Advisory Group LLC now owns 488 shares of the semiconductor manufacturer’s stock valued at $33,000 after purchasing an additional 198 shares during the period. Coppell Advisory Solutions LLC purchased a new position in Micron Technology during the second quarter worth about $32,000. Finally, Fortis Capital Advisors LLC acquired a new stake in Micron Technology in the 4th quarter worth about $25,000. Institutional investors and hedge funds own 80.84% of the company’s stock.

Insider Buying and Selling at Micron Technology

In other news, CEO Sanjay Mehrotra sold 7,000 shares of the stock in a transaction on Tuesday, January 9th. The stock was sold at an average price of $83.63, for a total transaction of $585,410.00. Following the sale, the chief executive officer now directly owns 651,759 shares of the company’s stock, valued at approximately $54,506,605.17. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders have sold a total of 219,000 shares of company stock valued at $20,968,640 in the last ninety days. 0.32% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on MU. StockNews.com raised shares of Micron Technology from a “sell” rating to a “hold” rating in a research note on Friday, March 22nd. Wedbush upped their price target on Micron Technology from $103.00 to $130.00 and gave the stock an “outperform” rating in a research note on Thursday, March 21st. Evercore ISI lifted their price objective on Micron Technology from $90.00 to $100.00 and gave the company an “outperform” rating in a research note on Thursday, December 21st. BMO Capital Markets lifted their price target on shares of Micron Technology from $80.00 to $90.00 and gave the company an “outperform” rating in a research report on Monday, December 18th. Finally, Fox Advisors raised shares of Micron Technology from an “equal weight” rating to an “overweight” rating in a research report on Thursday, March 21st. One analyst has rated the stock with a sell rating, two have given a hold rating and twenty-five have assigned a buy rating to the company’s stock. According to data from MarketBeat, Micron Technology has an average rating of “Moderate Buy” and a consensus target price of $118.69.

View Our Latest Report on MU

Micron Technology Stock Up 1.4 %

Shares of MU stock opened at $118.80 on Wednesday. Micron Technology, Inc. has a 52-week low of $56.01 and a 52-week high of $122.46. The firm’s 50-day moving average is $89.95 and its 200-day moving average is $80.03. The company has a quick ratio of 2.40, a current ratio of 3.74 and a debt-to-equity ratio of 0.30.

Micron Technology (NASDAQ:MUGet Free Report) last issued its quarterly earnings data on Wednesday, March 20th. The semiconductor manufacturer reported $0.42 earnings per share for the quarter, beating the consensus estimate of ($0.27) by $0.69. Micron Technology had a negative net margin of 20.57% and a negative return on equity of 8.98%. The company had revenue of $5.82 billion for the quarter, compared to analyst estimates of $5.35 billion. During the same period in the prior year, the firm earned ($2.03) earnings per share. The company’s revenue was up 57.7% on a year-over-year basis. As a group, equities research analysts forecast that Micron Technology, Inc. will post 0.01 EPS for the current fiscal year.

Micron Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 16th. Shareholders of record on Monday, April 1st will be issued a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a yield of 0.39%. The ex-dividend date is Thursday, March 28th. Micron Technology’s dividend payout ratio is -13.33%.

Micron Technology Profile

(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.

Further Reading

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

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