Dnca Finance Makes New Investment in Micron Technology, Inc. (NASDAQ:MU)

Dnca Finance acquired a new position in Micron Technology, Inc. (NASDAQ:MU - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 53,000 shares of the semiconductor manufacturer's stock, valued at approximately $4,460,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Beacon Capital Management LLC lifted its stake 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 purchasing an additional 200 shares during the period. Midwest Capital Advisors LLC bought a new position in Micron Technology during the fourth quarter worth $33,000. Comprehensive Financial Planning Inc. PA acquired a new position in shares of Micron Technology during the fourth quarter valued at about $34,000. Curio Wealth LLC acquired a new stake in shares of Micron Technology in the 4th quarter valued at about $34,000. Finally, Activest Wealth Management boosted its holdings in Micron Technology by 583.3% in the fourth quarter. Activest Wealth Management now owns 410 shares of the semiconductor manufacturer's stock worth $34,000 after acquiring an additional 350 shares in the last quarter. 80.84% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on MU. UBS Group boosted their price target on shares of Micron Technology from $125.00 to $130.00 and gave the company a "buy" rating in a research note on Monday, March 17th. Robert W. Baird lifted their price target on Micron Technology from $130.00 to $163.00 and gave the company an "outperform" rating in a research note on Friday, March 21st. China Renaissance downgraded Micron Technology from a "buy" rating to a "hold" rating and set a $84.00 price objective for the company. in a research note on Wednesday, March 26th. Morgan Stanley raised their target price on Micron Technology from $91.00 to $112.00 and gave the company an "equal weight" rating in a report on Friday, March 21st. Finally, Barclays cut their price objective on shares of Micron Technology from $115.00 to $95.00 and set an "overweight" rating on the stock in a report on Tuesday. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, twenty have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $128.56.

Insider Transactions at Micron Technology

In related news, Director Mary Pat Mccarthy sold 2,404 shares of the stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $92.93, for a total transaction 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 represents a 8.08 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP April S. Arnzen sold 15,000 shares of Micron Technology stock in a transaction that occurred on Tuesday, March 25th. The stock was sold at an average price of $96.18, for a total value of $1,442,700.00. Following the completion of the transaction, the executive vice president now directly 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 disclosure for this sale can be found here. Company insiders own 0.30% of the company's stock.

Micron Technology Price Performance

MU stock traded up $3.78 during midday trading on Wednesday, reaching $73.99. The company had a trading volume of 17,526,829 shares, compared to its average volume of 23,197,213. The firm has a 50-day moving average price of $87.22 and a 200-day moving average price of $95.43. The company has a market capitalization of $82.69 billion, a P/E ratio of 21.32 and a beta of 1.18. Micron Technology, Inc. has a 1 year low of $61.54 and a 1 year high of $157.54. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.72 and a quick ratio of 1.75.

Micron Technology (NASDAQ:MU - Get Free Report) last released its earnings results on Thursday, March 20th. The semiconductor manufacturer reported $1.56 EPS for the quarter, beating analysts' consensus estimates 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 prior year, the firm earned $0.42 earnings per share. The firm's revenue was up 38.2% on a year-over-year basis. On average, research analysts anticipate that Micron Technology, Inc. will post 6.08 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 15th. Shareholders of record on Monday, March 31st were paid a dividend of $0.115 per share. This represents a $0.46 annualized dividend and a dividend yield of 0.62%. The ex-dividend date of this dividend was Monday, March 31st. Micron Technology's dividend payout ratio (DPR) is presently 11.03%.

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.