Cullen Capital Management LLC Invests $1.08 Million in Micron Technology, Inc. (NASDAQ:MU)

Cullen Capital Management LLC acquired a new position in Micron Technology, Inc. (NASDAQ:MU - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 12,810 shares of the semiconductor manufacturer's stock, valued at approximately $1,078,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Beacon Capital Management LLC boosted its holdings in shares of Micron Technology by 114.9% in the fourth quarter. Beacon Capital Management LLC now owns 374 shares of the semiconductor manufacturer's stock valued at $31,000 after buying an additional 200 shares during the period. Midwest Capital Advisors LLC acquired a new stake in Micron Technology during the fourth quarter worth approximately $33,000. Activest Wealth Management lifted its holdings in Micron Technology by 583.3% during the 4th quarter. Activest Wealth Management now owns 410 shares of the semiconductor manufacturer's stock worth $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 during the fourth quarter worth $34,000. Finally, Curio Wealth LLC bought a new stake in shares of Micron Technology in the fourth quarter valued at approximately $34,000. 80.84% of the stock is owned by institutional investors.

Micron Technology Stock Down 4.0 %

MU stock traded down $2.71 during trading on Tuesday, reaching $65.66. The stock had a trading volume of 26,933,896 shares, compared to its average volume of 23,815,383. The company has a market capitalization of $73.38 billion, a price-to-earnings ratio of 18.92 and a beta of 1.18. The company has a quick ratio of 1.75, a current ratio of 2.72 and a debt-to-equity ratio of 0.28. The company's 50 day moving average is $92.96 and its two-hundred day moving average is $98.09. Micron Technology, Inc. has a one year low of $61.54 and a one year high of $157.54.

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Micron Technology (NASDAQ:MU - Get Free Report) last posted its quarterly earnings data on Thursday, March 20th. The semiconductor manufacturer reported $1.56 earnings per share for the quarter, topping the consensus estimate of $1.43 by $0.13. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. The business had revenue of $8.05 billion for the quarter, compared to analysts' expectations of $7.93 billion. During the same quarter in the previous year, the firm earned $0.42 earnings per share. The business's revenue was up 38.2% on a year-over-year basis. Equities research analysts forecast that Micron Technology, Inc. will post 6.08 EPS for the current year.

Micron Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be given a $0.115 dividend. This represents a $0.46 annualized dividend and a yield of 0.70%. The ex-dividend date is Monday, March 31st. Micron Technology's dividend payout ratio is 11.03%.

Insider Activity

In other Micron Technology news, EVP April S. Arnzen sold 15,000 shares of the stock in a transaction dated 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 completion of the transaction, the executive vice president now owns 164,769 shares in the company, valued at $15,847,482.42. This trade represents a 8.34 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Mary Pat Mccarthy sold 2,404 shares of the company's stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $92.93, for a total transaction of $223,403.72. Following the sale, the director now owns 27,358 shares in the company, valued at $2,542,378.94. The trade was a 8.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.30% of the company's stock.

Analyst Upgrades and Downgrades

MU has been the subject of several research analyst reports. Royal Bank of Canada set a $125.00 price objective on shares of Micron Technology in a research report on Wednesday, March 19th. Rosenblatt Securities cut their target price on shares of Micron Technology from $250.00 to $200.00 and set a "buy" rating on the stock in a research report on Friday, March 21st. Barclays increased their price target on Micron Technology from $110.00 to $115.00 and gave the company an "overweight" rating in a research note on Friday, March 21st. KGI Securities raised shares of Micron Technology to a "strong-buy" rating in a research note on Friday, February 21st. Finally, Sanford C. Bernstein decreased their target price on Micron Technology from $140.00 to $120.00 and set an "outperform" rating for the company in a research note on Wednesday, December 18th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price 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.