Micron Technology, Inc. (NASDAQ:MU) Shares Purchased by GAMMA Investing LLC

GAMMA Investing LLC grew its position in shares of Micron Technology, Inc. (NASDAQ:MU) by 14.7% during the 4th quarter, Holdings Channel.com reports. The firm owned 17,894 shares of the semiconductor manufacturer’s stock after purchasing an additional 2,295 shares during the quarter. GAMMA Investing LLC’s holdings in Micron Technology were worth $1,506,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Highline Wealth Partners LLC purchased a new stake in Micron Technology in the 3rd quarter valued at about $26,000. Davis Capital Management purchased a new stake in Micron Technology in the third quarter valued at approximately $30,000. Strategic Investment Solutions Inc. IL purchased a new position in Micron Technology during the second quarter worth approximately $39,000. Cranbrook Wealth Management LLC acquired a new position in shares of Micron Technology in the 2nd quarter valued at $42,000. Finally, Stone House Investment Management LLC grew its stake in shares of Micron Technology by 602.2% during the 3rd quarter. Stone House Investment Management LLC now owns 323 shares of the semiconductor manufacturer’s stock valued at $34,000 after buying an additional 277 shares during the period. 80.84% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

MU has been the subject of several research analyst reports. Sanford C. Bernstein dropped their price target on Micron Technology from $140.00 to $120.00 and set an “outperform” rating for the company in a research note on Wednesday, December 18th. Citigroup dropped their target price on shares of Micron Technology from $175.00 to $150.00 and set a “buy” rating for the company in a research report on Tuesday, September 17th. Susquehanna reduced their price target on shares of Micron Technology from $175.00 to $165.00 and set a “positive” rating on the stock in a research report on Thursday, September 26th. JPMorgan Chase & Co. dropped their price objective on shares of Micron Technology from $180.00 to $145.00 and set an “overweight” rating for the company in a research report on Thursday, December 19th. Finally, UBS Group reduced their target price on shares of Micron Technology from $135.00 to $125.00 and set a “buy” rating on the stock in a report on Thursday, December 19th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-three have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $135.24.

Micron Technology Stock Up 2.9 %

Shares of Micron Technology stock opened at $89.87 on Friday. The company has a quick ratio of 1.68, a current ratio of 2.64 and a debt-to-equity ratio of 0.29. The business has a 50-day moving average price of $99.42 and a 200 day moving average price of $105.69. Micron Technology, Inc. has a fifty-two week low of $79.15 and a fifty-two week high of $157.54. The firm has a market cap of $100.13 billion, a P/E ratio of 132.16 and a beta of 1.18.

Micron Technology (NASDAQ:MU) last posted its quarterly earnings results on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.60 by $0.19. The business had revenue of $8.71 billion for the quarter, compared to analyst estimates of $8.71 billion. Micron Technology had a return on equity of 1.58% and a net margin of 3.10%. The business’s revenue was up 84.3% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.95) EPS. On average, sell-side analysts forecast that Micron Technology, Inc. will post 8.31 earnings per share for the current fiscal year.

Micron Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Monday, December 30th will be given a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.51%. The ex-dividend date is Monday, December 30th. Micron Technology’s dividend payout ratio is presently 13.26%.

Insider Buying and Selling

In related news, EVP April S. Arnzen sold 4,890 shares of the company’s stock in a transaction on Friday, December 20th. The stock was sold at an average price of $85.21, for a total transaction of $416,676.90. Following the completion of the transaction, the executive vice president now directly owns 181,223 shares in the company, valued at $15,442,011.83. This represents a 2.63 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.30% of the stock is owned by company insiders.

Micron Technology Company 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.