Keel Point LLC Takes $260,000 Position in Micron Technology, Inc. (NASDAQ:MU)

Keel Point LLC acquired a new position in Micron Technology, Inc. (NASDAQ:MU) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 3,041 shares of the semiconductor manufacturer’s stock, valued at approximately $260,000.

Other hedge funds have also bought and sold shares of the company. Annis Gardner Whiting Capital Advisors LLC bought a new position in shares of Micron Technology in the third quarter worth $28,000. OFI Invest Asset Management purchased a new stake in Micron Technology during the 3rd quarter worth about $27,000. VisionPoint Advisory Group LLC boosted its stake in Micron Technology by 68.3% in the 3rd quarter. VisionPoint Advisory Group LLC now owns 488 shares of the semiconductor manufacturer’s stock worth $33,000 after purchasing an additional 198 shares during the period. Coppell Advisory Solutions LLC purchased a new position in Micron Technology during the 2nd quarter valued at about $32,000. Finally, Fortis Capital Advisors LLC bought a new stake in shares of Micron Technology during the fourth quarter valued at about $25,000. 80.84% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

MU has been the subject of several recent analyst reports. UBS Group boosted their price objective on shares of Micron Technology from $95.00 to $120.00 and gave the company a “buy” rating in a research note on Tuesday, March 19th. Stifel Nicolaus reiterated a “buy” rating and issued a $140.00 price objective on shares of Micron Technology in a research report on Friday, April 12th. Rosenblatt Securities restated a “buy” rating and set a $140.00 target price on shares of Micron Technology in a research report on Monday, March 18th. Bank of America raised their price target on Micron Technology from $120.00 to $144.00 and gave the company a “buy” rating in a report on Monday, April 1st. Finally, Barclays boosted their price objective on Micron Technology from $95.00 to $120.00 and gave the stock an “overweight” rating in a report on Monday, March 18th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and twenty-four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $122.20.

Micron Technology Trading Up 0.3 %

MU opened at $121.77 on Wednesday. Micron Technology, Inc. has a 12 month low of $58.03 and a 12 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 business’s 50-day moving average price is $101.36 and its 200-day moving average price is $86.01.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings results on Wednesday, March 20th. The semiconductor manufacturer reported $0.42 EPS for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.69. Micron Technology had a negative return on equity of 8.98% and a negative net margin of 20.57%. The business had revenue of $5.82 billion for the quarter, compared to analysts’ expectations of $5.35 billion. During the same period in the previous year, the firm earned ($2.03) EPS. The business’s quarterly revenue was up 57.7% on a year-over-year basis. On average, analysts expect that Micron Technology, Inc. will post 0.24 EPS for the current year.

Micron Technology Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 16th. Shareholders of record on Monday, April 1st were given 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 yield of 0.38%. Micron Technology’s payout ratio is currently -13.33%.

Insiders Place Their Bets

In related news, EVP April S. Arnzen sold 4,890 shares of the firm’s stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $119.30, for a total value of $583,377.00. Following the sale, the executive vice president now directly owns 148,817 shares of the company’s stock, valued at $17,753,868.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Sanjay Mehrotra sold 7,000 shares of Micron Technology stock in a transaction on Tuesday, April 9th. The shares were sold at an average price of $122.60, for a total value of $858,200.00. Following the sale, the chief executive officer now owns 728,557 shares in the company, valued at $89,321,088.20. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP April S. Arnzen sold 4,890 shares of the company’s stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $119.30, for a total transaction of $583,377.00. Following the completion of the transaction, the executive vice president now owns 148,817 shares of the company’s stock, valued at $17,753,868.10. The disclosure for this sale can be found here. Insiders have sold a total of 306,890 shares of company stock valued at $32,772,127 in the last quarter. Insiders own 0.32% of the company’s stock.

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.