Headlands Technologies LLC Acquires New Holdings in Micron Technology, Inc. (NASDAQ:MU)

Headlands Technologies LLC acquired a new stake in shares of Micron Technology, Inc. (NASDAQ:MU) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 14,108 shares of the semiconductor manufacturer’s stock, valued at approximately $1,204,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. OFI Invest Asset Management bought a new position in shares of Micron Technology in the third quarter valued at approximately $27,000. Annis Gardner Whiting Capital Advisors LLC bought a new position in shares of Micron Technology in the third quarter valued at approximately $28,000. VisionPoint Advisory Group LLC raised its position in shares of Micron Technology by 68.3% in the third quarter. VisionPoint Advisory Group LLC now owns 488 shares of the semiconductor manufacturer’s stock valued at $33,000 after purchasing an additional 198 shares during the period. Cape Investment Advisory Inc. raised its position in shares of Micron Technology by 51.0% in the third quarter. Cape Investment Advisory Inc. now owns 592 shares of the semiconductor manufacturer’s stock valued at $40,000 after purchasing an additional 200 shares during the period. Finally, Clear Street Markets LLC raised its position in shares of Micron Technology by 67.5% in the third quarter. Clear Street Markets LLC now owns 623 shares of the semiconductor manufacturer’s stock valued at $42,000 after purchasing an additional 251 shares during the period. Institutional investors own 80.84% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on MU shares. StockNews.com raised shares of Micron Technology from a “sell” rating to a “hold” rating in a research report on Friday, March 22nd. TD Cowen lifted their price target on shares of Micron Technology from $120.00 to $150.00 and gave the company an “outperform” rating in a research report on Thursday, March 21st. UBS Group lifted their price target on shares of Micron Technology from $95.00 to $120.00 and gave the company a “buy” rating in a research report on Tuesday, March 19th. Cantor Fitzgerald raised their price objective on shares of Micron Technology from $135.00 to $150.00 and gave the stock an “overweight” rating in a research note on Monday, April 8th. Finally, Barclays raised their price objective on shares of Micron Technology from $95.00 to $120.00 and gave the stock an “overweight” rating in a research note on Monday, March 18th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-four have assigned a buy rating to the company’s stock. According to data from MarketBeat, Micron Technology presently has a consensus rating of “Moderate Buy” and an average target price of $122.20.

Insider Activity at Micron Technology

In related news, CEO Sanjay Mehrotra sold 7,000 shares of Micron Technology stock in a transaction dated Tuesday, April 23rd. The stock was sold at an average price of $111.93, for a total value of $783,510.00. Following the completion of the transaction, the chief executive officer now directly owns 719,049 shares of the company’s stock, valued at $80,483,154.57. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of the business’s stock in a transaction dated 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 sale, the executive vice president now directly owns 148,817 shares of the company’s stock, valued at approximately $17,753,868.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Sanjay Mehrotra sold 7,000 shares of the business’s stock in a transaction dated Tuesday, April 23rd. The stock was sold at an average price of $111.93, for a total value of $783,510.00. Following the sale, the chief executive officer now directly owns 719,049 shares of the company’s stock, valued at $80,483,154.57. The disclosure for this sale can be found here. Insiders sold 268,890 shares of company stock valued at $29,738,667 over the last ninety days. 0.32% of the stock is owned by insiders.

Micron Technology Stock Up 2.9 %

Shares of NASDAQ:MU opened at $114.84 on Friday. Micron Technology, Inc. has a 52 week low of $59.55 and a 52 week high of $130.54. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.40 and a current ratio of 3.74. The company’s fifty day moving average is $105.94 and its 200-day moving average is $88.30. The company has a market capitalization of $127.17 billion, a PE ratio of -33.29 and a beta of 1.27.

Micron Technology (NASDAQ:MU) last issued its earnings results on Wednesday, March 20th. The semiconductor manufacturer reported $0.42 EPS for the quarter, beating the consensus estimate of ($0.27) by $0.69. Micron Technology had a negative net margin of 20.57% and a negative return on equity of 8.98%. The company had revenue of $5.82 billion for the quarter, compared to the consensus estimate of $5.35 billion. During the same quarter in the previous year, the company earned ($2.03) EPS. The firm’s revenue for the quarter was up 57.7% compared to the same quarter last year. Equities research analysts predict that Micron Technology, Inc. will post 0.24 earnings per share for the current fiscal year.

Micron Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 16th. Investors of record on Monday, April 1st were issued a $0.115 dividend. The ex-dividend date was Thursday, March 28th. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.40%. Micron Technology’s dividend payout ratio is -13.33%.

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.