JB Capital LLC Purchases Shares of 32,989 Micron Technology, Inc. (NASDAQ:MU)

JB Capital LLC acquired a new stake in Micron Technology, Inc. (NASDAQ:MU) during the fourth quarter, Holdings Channel.com reports. The fund acquired 32,989 shares of the semiconductor manufacturer’s stock, valued at approximately $2,776,000.

Other hedge funds have also recently made changes to their positions in the company. Czech National Bank raised its holdings in shares of Micron Technology by 7.1% in the third quarter. Czech National Bank now owns 225,924 shares of the semiconductor manufacturer’s stock valued at $23,431,000 after purchasing an additional 14,902 shares during the last quarter. Mirador Capital Partners LP bought a new stake in Micron Technology in the third quarter worth about $482,000. Handelsbanken Fonder AB boosted its stake in Micron Technology by 2.4% in the third quarter. Handelsbanken Fonder AB now owns 434,596 shares of the semiconductor manufacturer’s stock valued at $45,072,000 after acquiring an additional 9,992 shares during the last quarter. GAMMA Investing LLC grew its position in shares of Micron Technology by 12.1% during the 3rd quarter. GAMMA Investing LLC now owns 15,599 shares of the semiconductor manufacturer’s stock valued at $1,618,000 after acquiring an additional 1,689 shares during the period. Finally, Diversified Trust Co increased its stake in shares of Micron Technology by 37.0% during the 3rd quarter. Diversified Trust Co now owns 22,202 shares of the semiconductor manufacturer’s stock worth $2,303,000 after purchasing an additional 5,995 shares during the last quarter. 80.84% of the stock is currently owned by institutional investors and hedge funds.

Micron Technology Trading Down 1.4 %

NASDAQ MU opened at $91.24 on Monday. The stock has a 50-day moving average of $97.43 and a 200-day moving average of $99.88. 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, Inc. has a 1-year low of $79.15 and a 1-year high of $157.54. The firm has a market cap of $101.66 billion, a PE ratio of 26.29 and a beta of 1.18.

Micron Technology (NASDAQ:MU) last released its quarterly earnings results on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 earnings per share for the quarter, beating the consensus estimate of $1.60 by $0.19. Micron Technology had a net margin of 13.34% and a return on equity of 8.32%. The business had revenue of $8.71 billion for the quarter, compared to analysts’ expectations of $8.71 billion. During the same quarter in the previous year, the business posted ($0.95) earnings per share. The firm’s revenue for the quarter was up 84.3% compared to the same quarter last year. As a group, sell-side analysts forecast that Micron Technology, Inc. will post 6.29 EPS for the current year.

Micron Technology Announces Dividend

The business 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. This represents a $0.46 dividend on an annualized basis and a yield of 0.50%. The ex-dividend date of this dividend was Monday, December 30th. Micron Technology’s payout ratio is currently 13.26%.

Insiders Place Their Bets

In related news, EVP April S. Arnzen sold 4,890 shares of Micron Technology stock in a transaction dated 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 transaction, the executive vice president now directly owns 181,223 shares of the company’s stock, valued at $15,442,011.83. This trade represents a 2.63 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.30% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts have issued reports on MU shares. UBS Group decreased their target price on Micron Technology from $135.00 to $125.00 and set a “buy” rating for the company in a research report on Thursday, December 19th. China Renaissance started coverage on shares of Micron Technology in a report on Monday, October 28th. They set a “buy” rating and a $148.00 target price on the stock. Sanford C. Bernstein cut their price target on shares of Micron Technology from $140.00 to $120.00 and set an “outperform” rating for the company in a report on Wednesday, December 18th. TD Cowen reduced their price target on shares of Micron Technology from $135.00 to $125.00 and set a “buy” rating for the company in a research report on Thursday, December 19th. Finally, Wedbush reiterated an “outperform” rating and issued a $140.00 price objective on shares of Micron Technology in a research report on Tuesday, December 17th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-three have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $134.96.

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.