Micron Technology, Inc. (NASDAQ:MU) Shares Bought by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC lifted its position in shares of Micron Technology, Inc. (NASDAQ:MU) by 130.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 37,586 shares of the semiconductor manufacturer’s stock after purchasing an additional 21,256 shares during the period. Los Angeles Capital Management LLC’s holdings in Micron Technology were worth $3,208,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of MU. OFI Invest Asset Management acquired a new stake in Micron Technology during the 3rd quarter worth $27,000. Annis Gardner Whiting Capital Advisors LLC purchased a new position in shares of Micron Technology during the third quarter worth approximately $28,000. VisionPoint Advisory Group LLC boosted its stake in shares of Micron Technology by 68.3% during the third quarter. VisionPoint Advisory Group LLC now owns 488 shares of the semiconductor manufacturer’s stock worth $33,000 after buying an additional 198 shares during the period. Cape Investment Advisory Inc. raised its stake 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 worth $40,000 after purchasing an additional 200 shares during the last quarter. Finally, Clear Street Markets LLC grew its position in 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 during the last quarter. Institutional investors and hedge funds own 80.84% of the company’s stock.

Micron Technology Price Performance

Shares of Micron Technology stock opened at $114.70 on Monday. The business’s fifty day moving average price is $108.95 and its 200 day moving average price is $89.96. Micron Technology, Inc. has a twelve month low of $59.55 and a twelve month high of $130.54. The company has a current ratio of 3.74, a quick ratio of 2.40 and a debt-to-equity ratio of 0.30. The stock has a market capitalization of $126.63 billion, a P/E ratio of -33.25 and a beta of 1.27.

Micron Technology (NASDAQ:MU) last posted its quarterly earnings results on Wednesday, March 20th. The semiconductor manufacturer reported $0.42 EPS 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 firm had revenue of $5.82 billion for the quarter, compared to analyst estimates of $5.35 billion. During the same quarter last year, the firm posted ($2.03) earnings per share. Micron Technology’s revenue for the quarter was up 57.7% compared to the same quarter last year. As a group, research analysts anticipate that Micron Technology, Inc. will post 0.24 earnings per share for the current year.

Micron Technology Dividend Announcement

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

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Bank of America raised their target price on shares of Micron Technology from $120.00 to $144.00 and gave the stock a “buy” rating in a research note on Monday, April 1st. Wedbush lifted their price objective on Micron Technology from $103.00 to $130.00 and gave the company an “outperform” rating in a report on Thursday, March 21st. Wells Fargo & Company increased their price objective on Micron Technology from $125.00 to $135.00 and gave the stock an “overweight” rating in a research report on Thursday, March 21st. TD Cowen boosted their price objective on shares of Micron Technology from $120.00 to $150.00 and gave the stock an “outperform” rating in a report on Thursday, March 21st. Finally, Needham & Company LLC lifted their price target on shares of Micron Technology from $100.00 to $120.00 and gave the company a “buy” rating in a research report on Thursday, March 21st. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and twenty-four have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $122.20.

Insider Buying and Selling

In related news, EVP Scott J. Deboer sold 40,000 shares of the firm’s 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 transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CEO Sanjay Mehrotra sold 7,000 shares of the company’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $80.44, for a total value of $563,080.00. Following the sale, the chief executive officer now directly owns 788,557 shares of the company’s stock, valued at $63,431,525.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Scott J. Deboer sold 40,000 shares of the business’s stock in a transaction dated Wednesday, May 1st. The stock was 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. In the last ninety days, insiders have sold 323,890 shares of company stock valued at $36,079,267. Corporate 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.