Micron Technology, Inc. (NASDAQ:MU) Holdings Lifted by Alpine Investment Management Ltd

Alpine Investment Management Ltd lifted its position in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 217.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 325,000 shares of the semiconductor manufacturer's stock after acquiring an additional 222,500 shares during the quarter. Micron Technology accounts for approximately 7.7% of Alpine Investment Management Ltd's investment portfolio, making the stock its 4th largest holding. Alpine Investment Management Ltd's holdings in Micron Technology were worth $27,352,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the business. Beacon Capital Management LLC boosted its holdings 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 valued at $31,000 after acquiring an additional 200 shares during the last quarter. Midwest Capital Advisors LLC purchased a new position in Micron Technology in the 4th quarter valued at about $33,000. Activest Wealth Management raised its stake in Micron Technology by 583.3% in the 4th quarter. Activest Wealth Management now owns 410 shares of the semiconductor manufacturer's stock valued at $34,000 after purchasing an additional 350 shares during the last quarter. Comprehensive Financial Planning Inc. PA acquired a new stake in shares of Micron Technology in the fourth quarter valued at approximately $34,000. Finally, Curio Wealth LLC acquired a new position in shares of Micron Technology during the 4th quarter valued at about $34,000. Institutional investors own 80.84% of the company's stock.

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Micron Technology Price Performance

Shares of Micron Technology stock traded down $3.25 during trading on Tuesday, reaching $65.12. The company's stock had a trading volume of 27,583,352 shares, compared to its average volume of 22,920,233. The stock has a 50-day moving average price of $92.96 and a two-hundred day moving average price of $98.09. The stock has a market capitalization of $72.78 billion, a P/E ratio of 18.58 and a beta of 1.18. Micron Technology, Inc. has a one year low of $61.54 and a one year high of $157.54. 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 (NASDAQ:MU - Get Free Report) last announced its quarterly earnings results on Thursday, March 20th. The semiconductor manufacturer reported $1.56 earnings per share for the quarter, topping analysts' consensus estimates of $1.43 by $0.13. Micron Technology had a net margin of 13.34% and a return on equity of 8.32%. The company had revenue of $8.05 billion for the quarter, compared to analysts' expectations of $7.93 billion. During the same period last year, the firm posted $0.42 earnings per share. The business's quarterly revenue was up 38.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that Micron Technology, Inc. will post 6.08 EPS for the current fiscal year.

Micron Technology Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be paid a $0.115 dividend. The ex-dividend date is Monday, March 31st. This represents a $0.46 annualized dividend and a yield of 0.71%. Micron Technology's dividend payout ratio (DPR) is currently 11.03%.

Insider Buying and Selling at Micron Technology

In other news, Director Mary Pat Mccarthy sold 2,404 shares of the firm's stock in a transaction dated 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 in the company, valued at $2,542,378.94. This trade represents a 8.08 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP April S. Arnzen sold 15,000 shares of the business's stock in a transaction on Tuesday, March 25th. The shares were sold at an average price of $96.18, for a total transaction of $1,442,700.00. Following the sale, the executive vice president now owns 164,769 shares of the company's stock, valued at $15,847,482.42. This trade represents a 8.34 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.30% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on MU. Stifel Nicolaus decreased their price objective on shares of Micron Technology from $135.00 to $130.00 and set a "buy" rating on the stock in a report on Thursday, December 19th. Needham & Company LLC decreased their price objective on shares of Micron Technology from $140.00 to $120.00 and set a "buy" rating for the company in a research report on Thursday, December 19th. KGI Securities upgraded shares of Micron Technology to a "strong-buy" rating in a research note on Friday, February 21st. Sanford C. Bernstein cut their target price on Micron Technology from $140.00 to $120.00 and set an "outperform" rating on the stock in a research report on Wednesday, December 18th. Finally, Cantor Fitzgerald reissued an "overweight" rating and set a $130.00 price objective on shares of Micron Technology in a research report on Friday, March 21st. One analyst has rated the stock with a sell rating, three have issued a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Micron Technology currently has an average rating of "Moderate Buy" and an average price target of $129.76.

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.