Victory Capital Management Inc. Purchases 139,726 Shares of Micron Technology, Inc. (NASDAQ:MU)

Victory Capital Management Inc. raised its position in shares of Micron Technology, Inc. (NASDAQ:MU) by 14.8% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,082,374 shares of the semiconductor manufacturer’s stock after purchasing an additional 139,726 shares during the period. Victory Capital Management Inc. owned about 0.10% of Micron Technology worth $92,370,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Annis Gardner Whiting Capital Advisors LLC purchased a new position in shares of Micron Technology in the 3rd quarter valued at $28,000. OFI Invest Asset Management purchased a new position in Micron Technology in the third quarter valued at about $27,000. VisionPoint Advisory Group LLC raised its holdings in Micron Technology by 68.3% in the third quarter. VisionPoint Advisory Group LLC now owns 488 shares of the semiconductor manufacturer’s stock worth $33,000 after purchasing an additional 198 shares in the last quarter. Cape Investment Advisory Inc. lifted its position in shares of Micron Technology by 51.0% during the third quarter. Cape Investment Advisory Inc. now owns 592 shares of the semiconductor manufacturer’s stock valued at $40,000 after buying an additional 200 shares during the last quarter. Finally, Clear Street Markets LLC boosted its holdings in shares of Micron Technology by 67.5% in the 3rd quarter. Clear Street Markets LLC now owns 623 shares of the semiconductor manufacturer’s stock valued at $42,000 after buying an additional 251 shares in the last quarter. 80.84% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on MU shares. KeyCorp raised their price objective on Micron Technology from $135.00 to $150.00 and gave the stock an “overweight” rating in a research report on Monday, April 8th. Stifel Nicolaus restated a “buy” rating and set a $140.00 price objective on shares of Micron Technology in a report on Friday, April 12th. Needham & Company LLC lifted their target price on shares of Micron Technology from $100.00 to $120.00 and gave the stock a “buy” rating in a research note on Thursday, March 21st. Wells Fargo & Company upped their price target on shares of Micron Technology from $125.00 to $135.00 and gave the company an “overweight” rating in a research note on Thursday, March 21st. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Micron Technology from $105.00 to $130.00 and gave the company an “overweight” rating in a report on Thursday, March 21st. One analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-four have assigned a buy rating to the stock. Based on data from MarketBeat, Micron Technology currently has an average rating of “Moderate Buy” and a consensus price target of $122.20.

Micron Technology Stock Up 2.1 %

MU stock opened at $114.70 on Friday. Micron Technology, Inc. has a one year low of $59.55 and a one year high of $130.54. The firm has a 50-day moving average of $108.38 and a two-hundred day moving average of $89.36. 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:MU) last announced its earnings results on Wednesday, March 20th. The semiconductor manufacturer reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.27) by $0.69. The company had revenue of $5.82 billion for the quarter, compared to the consensus estimate of $5.35 billion. Micron Technology had a negative net margin of 20.57% and a negative return on equity of 8.98%. The company’s revenue was up 57.7% on a year-over-year basis. During the same period in the previous year, the business earned ($2.03) EPS. On average, research analysts expect that Micron Technology, Inc. will post 0.24 EPS for the current year.

Micron Technology Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 16th. Shareholders of record on Monday, April 1st were given a $0.115 dividend. The ex-dividend date of this dividend was Thursday, March 28th. This represents a $0.46 dividend on an annualized basis and a yield of 0.40%. Micron Technology’s payout ratio is -13.33%.

Insider Buying and Selling at Micron Technology

In other Micron Technology news, CEO Sanjay Mehrotra sold 7,000 shares of the business’s stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $84.84, for a total value of $593,880.00. Following the transaction, the chief executive officer now owns 788,557 shares in the company, valued at $66,901,175.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Sanjay Mehrotra sold 7,000 shares of the stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $84.84, for a total transaction of $593,880.00. Following the transaction, the chief executive officer now owns 788,557 shares in the company, valued at approximately $66,901,175.88. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Scott J. Deboer sold 40,000 shares of Micron Technology stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $110.31, for a total transaction of $4,412,400.00. Following the completion of the sale, the executive vice president now directly owns 158,617 shares of the company’s stock, valued at approximately $17,497,041.27. The disclosure for this sale can be found here. Insiders sold 323,890 shares of company stock valued at $36,079,267 in the last quarter. Company insiders own 0.32% of the company’s stock.

About Micron Technology

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.