Polianta Ltd Makes New Investment in Micron Technology, Inc. (NASDAQ:MU)

Polianta Ltd bought a new position in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 13,100 shares of the semiconductor manufacturer's stock, valued at approximately $1,102,000.

Several other hedge funds also recently made changes to their positions in the business. Stonebrook Private Inc. increased its stake in Micron Technology by 4.2% in the third quarter. Stonebrook Private Inc. now owns 2,454 shares of the semiconductor manufacturer's stock valued at $255,000 after acquiring an additional 98 shares during the last quarter. John G Ullman & Associates Inc. increased its stake in shares of Micron Technology by 2.5% in the 3rd quarter. John G Ullman & Associates Inc. now owns 4,063 shares of the semiconductor manufacturer's stock valued at $421,000 after purchasing an additional 100 shares during the last quarter. Trivant Custom Portfolio Group LLC raised its holdings in shares of Micron Technology by 20.0% during the 4th quarter. Trivant Custom Portfolio Group LLC now owns 600 shares of the semiconductor manufacturer's stock worth $50,000 after buying an additional 100 shares in the last quarter. Trust Co. of Vermont lifted its position in shares of Micron Technology by 14.3% during the 3rd quarter. Trust Co. of Vermont now owns 821 shares of the semiconductor manufacturer's stock worth $85,000 after buying an additional 103 shares during the last quarter. Finally, PDS Planning Inc boosted its stake in Micron Technology by 2.4% in the third quarter. PDS Planning Inc now owns 4,382 shares of the semiconductor manufacturer's stock valued at $454,000 after buying an additional 104 shares in the last quarter. 80.84% of the stock is owned by institutional investors.

Micron Technology Stock Up 3.1 %

Micron Technology stock traded up $3.15 during trading on Friday, hitting $105.75. 18,832,956 shares of the company were exchanged, compared to its average volume of 29,325,942. The company has a current ratio of 2.72, a quick ratio of 1.75 and a debt-to-equity ratio of 0.28. The business's 50 day moving average is $97.87 and its 200 day moving average is $102.27. Micron Technology, Inc. has a 52 week low of $79.15 and a 52 week high of $157.54. The company has a market capitalization of $117.82 billion, a P/E ratio of 30.48 and a beta of 1.18.

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 (EPS) for the quarter, topping the consensus estimate of $1.60 by $0.19. Micron Technology had a net margin of 13.34% and a return on equity of 8.32%. The firm had revenue of $8.71 billion during the quarter, compared to analyst estimates of $8.71 billion. During the same quarter in the prior year, the business posted ($0.95) EPS. The business's revenue was up 84.3% compared to the same quarter last year. Analysts predict that Micron Technology, Inc. will post 6.25 earnings per share for the current year.

Micron Technology Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Monday, December 30th were given a dividend of $0.115 per share. The ex-dividend date was Monday, December 30th. This represents a $0.46 annualized dividend and a dividend yield of 0.43%. Micron Technology's dividend payout ratio is currently 13.26%.

Analyst Ratings Changes

MU has been the topic of several research reports. Barclays decreased their price target on shares of Micron Technology from $145.00 to $110.00 and set an "overweight" rating on the stock in a report on Friday, December 20th. China Renaissance initiated coverage on shares of Micron Technology in a research note on Monday, October 28th. They set a "buy" rating and a $148.00 target price on the stock. Bank of America cut Micron Technology from a "buy" rating to a "neutral" rating and dropped their price target for the company from $125.00 to $110.00 in a research note on Thursday, December 19th. TD Cowen reduced their price objective on Micron Technology from $135.00 to $125.00 and set a "buy" rating on the stock in a research report on Thursday, December 19th. Finally, UBS Group lowered their target price on Micron Technology from $135.00 to $125.00 and set a "buy" rating for the company in a report on Thursday, December 19th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and twenty-three have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $135.24.

Insider Transactions at Micron Technology

In related news, EVP April S. Arnzen sold 4,890 shares of the stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $85.21, for a total transaction of $416,676.90. Following the completion of the transaction, the executive vice president now owns 181,223 shares in the company, valued at approximately $15,442,011.83. This represents a 2.63 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.30% 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.