Micron Technology, Inc. (NASDAQ:MU) Stake Boosted by Kempner Capital Management Inc.

Kempner Capital Management Inc. increased its stake in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 16.8% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 94,192 shares of the semiconductor manufacturer's stock after acquiring an additional 13,581 shares during the quarter. Micron Technology comprises 5.0% of Kempner Capital Management Inc.'s holdings, making the stock its largest holding. Kempner Capital Management Inc.'s holdings in Micron Technology were worth $9,769,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Annex Advisory Services LLC grew its holdings in Micron Technology by 4.7% during the 1st 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 period. Riverview Trust Co acquired a new stake in Micron Technology during the first quarter worth approximately $39,000. Prentice Wealth Management LLC acquired a new stake in Micron Technology during the first quarter worth approximately $334,000. Sound Income Strategies LLC increased its holdings in Micron Technology by 40.3% in the first quarter. Sound Income Strategies LLC now owns 1,358 shares of the semiconductor manufacturer's stock worth $160,000 after purchasing an additional 390 shares in the last quarter. Finally, CIC Wealth LLC lifted its stake in Micron Technology by 5.3% in the first quarter. CIC Wealth LLC now owns 3,215 shares of the semiconductor manufacturer's stock valued at $379,000 after buying an additional 161 shares during the period. 80.84% of the stock is currently owned by institutional investors.

Micron Technology Price Performance

NASDAQ MU traded down $1.26 during trading on Tuesday, reaching $107.82. The company's stock had a trading volume of 13,742,530 shares, compared to its average volume of 22,206,008. The firm has a fifty day moving average of $99.14 and a 200 day moving average of $114.17. Micron Technology, Inc. has a one year low of $63.88 and a one year high of $157.54. The stock has a market capitalization of $119.56 billion, a PE ratio of -75.93 and a beta of 1.18. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.64 and a quick ratio of 1.68.

Micron Technology (NASDAQ:MU - Get Free Report) last released its quarterly earnings results on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 EPS for the quarter, topping analysts' consensus estimates of $0.97 by $0.21. The business had revenue of $7.75 billion during the quarter, compared to analysts' expectations of $7.65 billion. Micron Technology had a net margin of 3.10% and a return on equity of 1.58%. The business's quarterly revenue was up 93.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($1.21) EPS. Analysts expect that Micron Technology, Inc. will post 8.31 EPS for the current fiscal year.

Micron Technology Dividend Announcement

The firm also recently declared 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. The ex-dividend date is Monday, October 7th. This represents a $0.46 annualized dividend and a yield of 0.43%. Micron Technology's payout ratio is -32.39%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on MU shares. Susquehanna cut their price objective on shares of Micron Technology from $175.00 to $165.00 and set a "positive" rating on the stock in a research report on Thursday, September 26th. TD Cowen increased their target price on Micron Technology from $115.00 to $135.00 and gave the stock a "buy" rating in a report on Thursday, September 26th. The Goldman Sachs Group boosted their price target on shares of Micron Technology from $138.00 to $158.00 and gave the company a "buy" rating in a research note on Thursday, June 27th. Morgan Stanley boosted their target price on shares of Micron Technology from $100.00 to $114.00 and gave the stock an "equal weight" rating in a research report on Thursday, September 26th. Finally, Bank of America lifted their price target on Micron Technology from $110.00 to $125.00 and gave the company a "buy" rating in a research note on Thursday, September 26th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-five have given a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $142.85.

Insider Activity

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of Micron Technology stock in a transaction that occurred on Thursday, September 26th. The stock was sold at an average price of $113.00, for a total value of $552,570.00. Following the transaction, the executive vice president now directly owns 135,830 shares of the company's stock, valued at $15,348,790. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.32% of the company's stock.

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.