Lee Johnson Capital Management LLC Takes Position in Micron Technology, Inc. (NASDAQ:MU)

Lee Johnson Capital Management LLC bought a new stake in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 22,607 shares of the semiconductor manufacturer's stock, valued at approximately $2,345,000. Micron Technology makes up about 1.2% of Lee Johnson Capital Management LLC's investment portfolio, making the stock its 22nd biggest position.

Other large investors have also made changes to their positions in the company. CHICAGO TRUST Co NA lifted its stake in shares of Micron Technology by 10.0% in the 1st quarter. CHICAGO TRUST Co NA now owns 4,078 shares of the semiconductor manufacturer's stock valued at $481,000 after purchasing an additional 372 shares during the last quarter. Global Assets Advisory LLC acquired a new stake in shares of Micron Technology during the first quarter worth about $29,307,000. Wealth Management Partners LLC lifted its stake in Micron Technology by 5.8% in the first quarter. Wealth Management Partners LLC now owns 7,759 shares of the semiconductor manufacturer's stock valued at $915,000 after buying an additional 423 shares during the last quarter. Central Valley Advisors LLC purchased a new position in shares of Micron Technology during the first quarter worth approximately $207,000. Finally, Annex Advisory Services LLC grew its position in shares of Micron Technology by 4.7% during the first quarter. Annex Advisory Services LLC now owns 12,411 shares of the semiconductor manufacturer's stock worth $1,463,000 after acquiring an additional 558 shares during the last quarter. 80.84% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Micron Technology

In related news, EVP April S. Arnzen sold 4,890 shares of the stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $113.00, for a total value of $552,570.00. Following the completion of the sale, the executive vice president now directly owns 135,830 shares of the company's stock, valued at approximately $15,348,790. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.32% of the company's stock.

Micron Technology Price Performance

NASDAQ MU traded down $0.90 on Friday, reaching $111.15. The company's stock had a trading volume of 16,700,370 shares, compared to its average volume of 22,285,250. Micron Technology, Inc. has a twelve month low of $63.88 and a twelve month high of $157.54. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.68 and a current ratio of 2.64. The firm's 50 day moving average is $98.64 and its two-hundred day moving average is $114.38. The stock has a market cap of $123.25 billion, a PE ratio of -78.27 and a beta of 1.18.

Micron Technology (NASDAQ:MU - Get Free Report) last announced its quarterly earnings data on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 EPS for the quarter, beating analysts' consensus estimates of $0.97 by $0.21. The company had revenue of $7.75 billion during the quarter, compared to the consensus estimate of $7.65 billion. Micron Technology had a return on equity of 1.58% and a net margin of 3.10%. The company's quarterly revenue was up 93.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($1.21) EPS. As a group, sell-side analysts predict that Micron Technology, Inc. will post 8.31 EPS for the current year.

Micron Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 23rd. Shareholders of record on Monday, October 7th will be given a dividend of $0.115 per share. This represents a $0.46 annualized dividend and a yield of 0.41%. The ex-dividend date of this dividend is Monday, October 7th. Micron Technology's payout ratio is -32.39%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on MU shares. Raymond James lifted their price objective on Micron Technology from $125.00 to $140.00 and gave the company an "outperform" rating in a report on Thursday, September 26th. JPMorgan Chase & Co. upped their price objective on Micron Technology from $130.00 to $180.00 and gave the stock an "overweight" rating in a report on Thursday, June 27th. Robert W. Baird reduced their target price on Micron Technology from $172.00 to $150.00 and set an "outperform" rating for the company in a report on Friday, September 27th. Wells Fargo & Company lowered their target price on shares of Micron Technology from $190.00 to $175.00 and set an "overweight" rating on the stock in a research report on Wednesday, September 18th. Finally, Morgan Stanley raised their target price on shares of Micron Technology from $100.00 to $114.00 and gave the company an "equal weight" rating in a report on Thursday, September 26th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and twenty-five have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $142.85.

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.