Micron Technology, Inc. (NASDAQ:MU) Shares Bought by Sunpointe LLC

Sunpointe LLC increased its stake in Micron Technology, Inc. (NASDAQ:MU) by 28.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,312 shares of the semiconductor manufacturer’s stock after purchasing an additional 736 shares during the quarter. Sunpointe LLC’s holdings in Micron Technology were worth $279,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Stonebrook Private Inc. lifted its stake in shares of Micron Technology by 4.2% in the 3rd quarter. Stonebrook Private Inc. now owns 2,454 shares of the semiconductor manufacturer’s stock valued at $255,000 after purchasing an additional 98 shares during the last quarter. John G Ullman & Associates Inc. lifted its position in shares of Micron Technology by 2.5% in the third quarter. John G Ullman & Associates Inc. now owns 4,063 shares of the semiconductor manufacturer’s stock worth $421,000 after buying an additional 100 shares during the last quarter. Trivant Custom Portfolio Group LLC boosted its stake in shares of Micron Technology by 20.0% during the 4th quarter. Trivant Custom Portfolio Group LLC now owns 600 shares of the semiconductor manufacturer’s stock worth $50,000 after acquiring an additional 100 shares in the last quarter. PDS Planning Inc increased its holdings in shares of Micron Technology by 2.4% during the 3rd quarter. PDS Planning Inc now owns 4,382 shares of the semiconductor manufacturer’s stock valued at $454,000 after acquiring an additional 104 shares during the last quarter. Finally, Lebenthal Global Advisors LLC raised its stake in shares of Micron Technology by 1.5% in the 4th quarter. Lebenthal Global Advisors LLC now owns 7,474 shares of the semiconductor manufacturer’s stock valued at $629,000 after acquiring an additional 114 shares in the last quarter. Institutional investors own 80.84% of the company’s stock.

Micron Technology Stock Down 2.3 %

Shares of MU opened at $104.36 on Thursday. The firm has a market capitalization of $116.27 billion, a price-to-earnings ratio of 30.07 and a beta of 1.18. Micron Technology, Inc. has a 52 week low of $79.15 and a 52 week high of $157.54. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.75 and a current ratio of 2.72. The business’s fifty day moving average price is $96.25 and its two-hundred day moving average price is $98.67.

Micron Technology (NASDAQ:MU) last issued its earnings results on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.60 by $0.19. The company had revenue of $8.71 billion for the quarter, compared to analyst estimates of $8.71 billion. Micron Technology had a net margin of 13.34% and a return on equity of 8.32%. The company’s revenue for the quarter was up 84.3% on a year-over-year basis. During the same quarter last year, the firm earned ($0.95) EPS. On average, analysts predict that Micron Technology, Inc. will post 6.21 earnings per share for the current year.

Micron Technology Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Monday, December 30th were paid a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.44%. The ex-dividend date was Monday, December 30th. Micron Technology’s dividend payout ratio (DPR) is currently 13.26%.

Insider Transactions at Micron Technology

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of Micron Technology stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $85.21, for a total transaction of $416,676.90. Following the transaction, the executive vice president now directly owns 181,223 shares in the company, valued at approximately $15,442,011.83. The trade was a 2.63 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.30% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Robert W. Baird decreased their target price on Micron Technology from $150.00 to $130.00 and set an “outperform” rating for the company in a research report on Thursday, December 19th. Bank of America downgraded shares of Micron Technology from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $125.00 to $110.00 in a report on Thursday, December 19th. China Renaissance started coverage on shares of Micron Technology in a research report on Monday, October 28th. They set a “buy” rating and a $148.00 target price for the company. Cantor Fitzgerald cut their price objective on Micron Technology from $150.00 to $130.00 and set an “overweight” rating for the company in a research report on Thursday, December 19th. Finally, Barclays dropped their price target on Micron Technology from $145.00 to $110.00 and set an “overweight” rating on the stock in a research report on Friday, December 20th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-three have issued a buy rating to the company. According to data from MarketBeat, Micron Technology has a consensus rating of “Moderate Buy” and an average price target of $134.96.

About Micron Technology

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.