Murphy & Mullick Capital Management Corp Buys Shares of 2,160 Micron Technology, Inc. (NASDAQ:MU)

Murphy & Mullick Capital Management Corp purchased a new position in Micron Technology, Inc. (NASDAQ:MU) in the fourth quarter, HoldingsChannel reports. The firm purchased 2,160 shares of the semiconductor manufacturer’s stock, valued at approximately $182,000.

A number of other institutional investors also recently made changes to their positions in the stock. Stone House Investment Management LLC grew its holdings in Micron Technology by 602.2% during the third quarter. Stone House Investment Management LLC now owns 323 shares of the semiconductor manufacturer’s stock worth $34,000 after acquiring an additional 277 shares during the period. True Wealth Design LLC boosted its position in shares of Micron Technology by 1,096.3% during the 3rd quarter. True Wealth Design LLC now owns 323 shares of the semiconductor manufacturer’s stock valued at $33,000 after purchasing an additional 296 shares in the last quarter. Beacon Capital Management LLC grew its stake in shares of Micron Technology by 114.9% in the 4th quarter. Beacon Capital Management LLC now owns 374 shares of the semiconductor manufacturer’s stock worth $31,000 after purchasing an additional 200 shares during the last quarter. Midwest Capital Advisors LLC bought a new stake in shares of Micron Technology in the 4th quarter worth approximately $33,000. Finally, Comprehensive Financial Planning Inc. PA acquired a new stake in Micron Technology during the fourth quarter valued at approximately $34,000. 80.84% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have issued reports on MU shares. KGI Securities raised Micron Technology to a “strong-buy” rating in a report on Friday, February 21st. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $130.00 target price on shares of Micron Technology in a research report on Friday, March 21st. Mizuho dropped their price target on Micron Technology from $135.00 to $115.00 and set an “outperform” rating on the stock in a research note on Thursday, December 19th. JPMorgan Chase & Co. decreased their target price on shares of Micron Technology from $145.00 to $135.00 and set an “overweight” rating for the company in a report on Friday, March 21st. Finally, Citigroup cut their price target on shares of Micron Technology from $150.00 to $120.00 and set a “buy” rating on the stock in a report on Friday, March 21st. One analyst has rated the stock with a sell rating, three have issued a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $129.96.

Insider Activity at Micron Technology

In other news, Director Mary Pat Mccarthy sold 2,404 shares of the stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $92.93, for a total value of $223,403.72. Following the completion of the sale, the director now directly owns 27,358 shares of the company’s stock, valued at approximately $2,542,378.94. This represents a 8.08 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.30% of the stock is currently owned by company insiders.

Micron Technology Trading Down 2.2 %

Shares of NASDAQ:MU opened at $92.13 on Thursday. Micron Technology, Inc. has a 1 year low of $83.54 and a 1 year high of $157.54. The firm has a fifty day moving average price of $96.58 and a 200 day moving average price of $98.41. The company has a current ratio of 2.72, a quick ratio of 1.75 and a debt-to-equity ratio of 0.28. The stock has a market capitalization of $102.65 billion, a PE ratio of 26.55 and a beta of 1.23.

Micron Technology (NASDAQ:MU) last issued its quarterly earnings data on Thursday, March 20th. The semiconductor manufacturer reported $1.56 EPS for the quarter, beating analysts’ consensus estimates of $1.43 by $0.13. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. The business had revenue of $8.05 billion for the quarter, compared to analyst estimates of $7.93 billion. During the same quarter in the prior year, the firm posted $0.42 EPS. The firm’s revenue for the quarter was up 38.2% on a year-over-year basis. Analysts expect that Micron Technology, Inc. will post 6.08 EPS for the current fiscal year.

Micron Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be issued a dividend of $0.115 per share. This represents a $0.46 annualized dividend and a dividend yield of 0.50%. The ex-dividend date is Monday, March 31st. Micron Technology’s dividend payout ratio is currently 11.03%.

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.