Oak Thistle LLC Raises Stock Position in Micron Technology, Inc. (NASDAQ:MU)

Oak Thistle LLC lifted its stake in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) by 89.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 13,266 shares of the semiconductor manufacturer's stock after purchasing an additional 6,252 shares during the period. Oak Thistle LLC's holdings in Micron Technology were worth $1,116,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the stock. Van ECK Associates Corp raised its position in shares of Micron Technology by 30.6% during the 3rd quarter. Van ECK Associates Corp now owns 10,564,198 shares of the semiconductor manufacturer's stock valued at $1,109,769,000 after buying an additional 2,477,985 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Micron Technology by 21.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 11,326,224 shares of the semiconductor manufacturer's stock valued at $1,174,643,000 after purchasing an additional 2,022,180 shares during the last quarter. State Street Corp grew its holdings in shares of Micron Technology by 3.1% during the 3rd quarter. State Street Corp now owns 48,226,710 shares of the semiconductor manufacturer's stock worth $5,001,592,000 after purchasing an additional 1,434,568 shares during the period. Worldquant Millennium Advisors LLC increased its position in shares of Micron Technology by 254.4% during the 3rd quarter. Worldquant Millennium Advisors LLC now owns 1,859,416 shares of the semiconductor manufacturer's stock worth $192,840,000 after purchasing an additional 1,334,690 shares during the last quarter. Finally, International Assets Investment Management LLC raised its holdings in Micron Technology by 1,233.7% in the 3rd quarter. International Assets Investment Management LLC now owns 1,430,619 shares of the semiconductor manufacturer's stock valued at $145,470,000 after buying an additional 1,323,352 shares during the period. 80.84% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. Wedbush reiterated an "outperform" rating and set a $140.00 price target on shares of Micron Technology in a research report on Tuesday, December 17th. Barclays cut their target price on Micron Technology from $145.00 to $110.00 and set an "overweight" rating on the stock in a research report on Friday, December 20th. Robert W. Baird lowered their price target on Micron Technology from $150.00 to $130.00 and set an "outperform" rating for the company in a research report on Thursday, December 19th. JPMorgan Chase & Co. cut their price objective on Micron Technology from $180.00 to $145.00 and set an "overweight" rating on the stock in a report on Thursday, December 19th. Finally, Wells Fargo & Company lowered their target price on Micron Technology from $175.00 to $140.00 and set an "overweight" rating for the company in a report on Thursday, December 19th. One research analyst has rated the stock with a sell rating, three have given a hold rating and twenty-three have assigned a buy rating to the stock. According to data from MarketBeat, Micron Technology has a consensus rating of "Moderate Buy" and an average target price of $135.24.

Insiders Place Their Bets

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of the business's stock in a transaction on Friday, December 20th. The shares were sold at an average price of $85.21, for a total value of $416,676.90. Following the transaction, the executive vice president now directly owns 181,223 shares of the company's stock, valued at approximately $15,442,011.83. The trade was a 2.63 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.30% of the stock is currently owned by insiders.

Micron Technology Stock Performance

MU traded up $5.83 on Wednesday, reaching $103.19. The company had a trading volume of 27,494,895 shares, compared to its average volume of 28,404,734. The company has a quick ratio of 1.68, a current ratio of 2.64 and a debt-to-equity ratio of 0.29. Micron Technology, Inc. has a 1 year low of $79.15 and a 1 year high of $157.54. The stock has a market capitalization of $114.97 billion, a PE ratio of 151.75 and a beta of 1.18. The stock has a 50-day moving average price of $98.39 and a 200-day moving average price of $102.65.

Micron Technology (NASDAQ:MU - Get Free Report) last posted its earnings results on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 earnings per share for the quarter, beating the consensus estimate of $1.60 by $0.19. The business had revenue of $8.71 billion during the quarter, compared to the consensus estimate of $8.71 billion. Micron Technology had a return on equity of 1.58% and a net margin of 3.10%. The business's quarterly revenue was up 84.3% on a year-over-year basis. During the same period in the previous year, the business earned ($0.95) EPS. As a group, research analysts forecast that Micron Technology, Inc. will post 8.31 EPS for the current fiscal year.

Micron Technology Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Monday, December 30th will be paid a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a yield of 0.45%. The ex-dividend date is Monday, December 30th. Micron Technology's dividend payout ratio is currently 13.26%.

About Micron Technology

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.