denkapparat Operations GmbH Purchases New Shares in Micron Technology, Inc. (NASDAQ:MU)

denkapparat Operations GmbH purchased a new stake in Micron Technology, Inc. (NASDAQ:MU) in the 4th quarter, HoldingsChannel reports. The institutional investor purchased 5,374 shares of the semiconductor manufacturer’s stock, valued at approximately $452,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Algert Global LLC raised its position in Micron Technology by 349.4% in the third quarter. Algert Global LLC now owns 11,092 shares of the semiconductor manufacturer’s stock valued at $1,150,000 after purchasing an additional 8,624 shares during the last quarter. Larson Financial Group LLC grew its position in shares of Micron Technology by 885.5% during the 3rd quarter. Larson Financial Group LLC now owns 1,360 shares of the semiconductor manufacturer’s stock worth $141,000 after buying an additional 1,222 shares during the period. Fisher Asset Management LLC boosted its position in shares of Micron Technology by 6.5% during the 3rd quarter. Fisher Asset Management LLC now owns 50,470 shares of the semiconductor manufacturer’s stock worth $5,234,000 after purchasing an additional 3,069 shares in the last quarter. D.A. Davidson & CO. increased its position in Micron Technology by 17.2% in the 3rd quarter. D.A. Davidson & CO. now owns 68,844 shares of the semiconductor manufacturer’s stock valued at $7,140,000 after buying an additional 10,080 shares in the last quarter. Finally, Townsquare Capital LLC raised its holdings in shares of Micron Technology by 38.1% in the third quarter. Townsquare Capital LLC now owns 20,811 shares of the semiconductor manufacturer’s stock valued at $2,158,000 after purchasing an additional 5,737 shares during the last quarter. Institutional investors own 80.84% of the company’s stock.

Wall Street Analyst Weigh In

MU has been the topic of a number of research analyst reports. UBS Group boosted their target price on Micron Technology from $125.00 to $130.00 and gave the stock a “buy” rating in a research note on Monday, March 17th. Mizuho dropped their target price on Micron Technology from $135.00 to $115.00 and set an “outperform” rating on the stock in a research report on Thursday, December 19th. JPMorgan Chase & Co. reduced their price objective on shares of Micron Technology from $145.00 to $135.00 and set an “overweight” rating for the company in a research note on Friday, March 21st. Citigroup dropped their price target on Micron Technology from $150.00 to $120.00 and set a “buy” rating for the company in a research report on Friday, March 21st. Finally, Morgan Stanley increased their target price on Micron Technology from $91.00 to $112.00 and gave the company an “equal weight” rating in a research note on Friday, March 21st. One analyst has rated the stock with a sell rating, three have issued a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $129.96.

Insider Activity

In related news, Director Mary Pat Mccarthy sold 2,404 shares of Micron Technology stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $92.93, for a total transaction of $223,403.72. Following the completion of the transaction, the director now directly owns 27,358 shares in the company, valued at $2,542,378.94. The trade was a 8.08 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP April S. Arnzen sold 15,000 shares of Micron Technology stock in a transaction dated Tuesday, March 25th. The stock was sold at an average price of $96.18, for a total value of $1,442,700.00. Following the sale, the executive vice president now owns 164,769 shares of the company’s stock, valued at approximately $15,847,482.42. This represents a 8.34 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.30% of the company’s stock.

Micron Technology Price Performance

Shares of MU opened at $91.16 on Friday. The firm has a market capitalization of $101.88 billion, a price-to-earnings ratio of 26.27 and a beta of 1.23. The firm’s fifty day simple moving average is $96.35 and its 200-day simple moving average is $98.36. Micron Technology, Inc. has a twelve month low of $83.54 and a twelve month high of $157.54. The company has a current ratio of 2.72, a quick ratio of 1.75 and a debt-to-equity ratio of 0.28.

Micron Technology (NASDAQ:MU) last announced its earnings results on Thursday, March 20th. The semiconductor manufacturer reported $1.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.43 by $0.13. Micron Technology had a net margin of 13.34% and a return on equity of 8.32%. The business had revenue of $8.05 billion for the quarter, compared to analyst estimates of $7.93 billion. During the same period last year, the firm posted $0.42 earnings per share. The company’s revenue for the quarter was up 38.2% compared to the same quarter last year. Equities analysts forecast that Micron Technology, Inc. will post 6.08 EPS for the current fiscal year.

Micron Technology Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be paid a dividend of $0.115 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.50%. Micron Technology’s dividend payout ratio (DPR) is presently 11.03%.

Micron Technology 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.