EMC Capital Management Takes $194,000 Position in Micron Technology, Inc. (NASDAQ:MU)

EMC Capital Management purchased a new position in shares of Micron Technology, Inc. (NASDAQ:MU) during the fourth quarter, HoldingsChannel reports. The firm purchased 2,300 shares of the semiconductor manufacturer’s stock, valued at approximately $194,000.

A number of other hedge funds have also recently added to or reduced their stakes in MU. Quarry LP increased its holdings in Micron Technology by 130.5% in the second quarter. Quarry LP now owns 604 shares of the semiconductor manufacturer’s stock valued at $79,000 after buying an additional 342 shares in the last quarter. Truist Financial Corp increased its stake in Micron Technology by 16.4% in the 2nd quarter. Truist Financial Corp now owns 143,215 shares of the semiconductor manufacturer’s stock valued at $18,837,000 after purchasing an additional 20,209 shares in the last quarter. Cetera Investment Advisers raised its holdings in Micron Technology by 30.8% during the second quarter. Cetera Investment Advisers now owns 253,256 shares of the semiconductor manufacturer’s stock worth $33,311,000 after purchasing an additional 59,707 shares during the last quarter. Strategic Investment Solutions Inc. IL purchased a new stake in Micron Technology during the second quarter worth $39,000. Finally, Sanctuary Advisors LLC acquired a new stake in Micron Technology in the second quarter valued at $5,306,000. Institutional investors and hedge funds own 80.84% of the company’s stock.

Insider Transactions at Micron Technology

In related news, EVP April S. Arnzen sold 4,890 shares of the stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $85.21, for a total transaction of $416,676.90. Following the completion of the sale, the executive vice president now directly owns 181,223 shares of the company’s stock, valued at $15,442,011.83. This represents a 2.63 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.30% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on MU. Stifel Nicolaus cut their price target on Micron Technology from $135.00 to $130.00 and set a “buy” rating for the company in a research note on Thursday, December 19th. The Goldman Sachs Group cut their target price on shares of Micron Technology from $145.00 to $128.00 and set a “buy” rating for the company in a research report on Thursday, December 19th. Bank of America lowered shares of Micron Technology from a “buy” rating to a “neutral” rating and lowered their price target for the company from $125.00 to $110.00 in a research report on Thursday, December 19th. JPMorgan Chase & Co. cut their price objective on 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, Robert W. Baird reduced their target price on Micron Technology from $150.00 to $130.00 and set an “outperform” rating on the stock in a research note on Thursday, December 19th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-three have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $134.96.

Micron Technology Stock Up 3.9 %

Shares of NASDAQ MU opened at $92.47 on Friday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.75 and a current ratio of 2.72. Micron Technology, Inc. has a 1 year low of $79.15 and a 1 year high of $157.54. The stock’s 50-day simple moving average is $97.85 and its 200-day simple moving average is $100.40. The firm has a market cap of $103.02 billion, a price-to-earnings ratio of 26.65 and a beta of 1.18.

Micron Technology (NASDAQ:MU) last announced its earnings results on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.60 by $0.19. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. The company had revenue of $8.71 billion for the quarter, compared to analyst estimates of $8.71 billion. During the same period in the prior year, the company posted ($0.95) EPS. Micron Technology’s quarterly revenue was up 84.3% on a year-over-year basis. As a group, equities analysts anticipate that Micron Technology, Inc. will post 6.29 earnings per share for the current fiscal year.

Micron Technology Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Monday, December 30th were paid a $0.115 dividend. The ex-dividend date was Monday, December 30th. This represents a $0.46 dividend on an annualized basis and a yield of 0.50%. Micron Technology’s dividend payout ratio (DPR) is 13.26%.

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.