Quinn Opportunity Partners LLC Invests $505,000 in Micron Technology, Inc. (NASDAQ:MU)

Quinn Opportunity Partners LLC acquired a new position in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 6,000 shares of the semiconductor manufacturer's stock, valued at approximately $505,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Trivant Custom Portfolio Group LLC lifted its stake in shares of Micron Technology by 20.0% in the fourth quarter. Trivant Custom Portfolio Group LLC now owns 600 shares of the semiconductor manufacturer's stock valued at $50,000 after buying an additional 100 shares in the last quarter. Xcel Wealth Management LLC increased its position in shares of Micron Technology by 1.8% during the fourth quarter. Xcel Wealth Management LLC now owns 6,157 shares of the semiconductor manufacturer's stock valued at $518,000 after acquiring an additional 108 shares during the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors boosted its holdings in shares of Micron Technology by 3.8% in the 4th quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 2,973 shares of the semiconductor manufacturer's stock worth $250,000 after buying an additional 108 shares during the last quarter. Twin Capital Management Inc. boosted its stake in Micron Technology by 0.5% in the fourth quarter. Twin Capital Management Inc. now owns 20,062 shares of the semiconductor manufacturer's stock valued at $1,688,000 after acquiring an additional 108 shares during the last quarter. Finally, Lebenthal Global Advisors LLC raised its holdings in shares of Micron Technology by 1.5% in the 4th quarter. Lebenthal Global Advisors LLC now owns 7,474 shares of the semiconductor manufacturer's stock worth $629,000 after purchasing an additional 114 shares during the period. Institutional investors own 80.84% of the company's stock.

Remove Ads

Micron Technology Stock Up 0.0 %

Shares of MU stock traded up $0.02 during trading hours on Tuesday, hitting $71.04. 18,493,519 shares of the company's stock traded hands, compared to its average volume of 23,257,973. The company has a quick ratio of 1.75, a current ratio of 2.72 and a debt-to-equity ratio of 0.28. The stock has a market cap of $79.39 billion, a price-to-earnings ratio of 20.47 and a beta of 1.18. The stock's fifty day simple moving average is $90.21 and its two-hundred day simple moving average is $96.75. Micron Technology, Inc. has a 12-month low of $61.54 and a 12-month high of $157.54.

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, topping the consensus estimate of $1.43 by $0.13. The business had revenue of $8.05 billion for the quarter, compared to the consensus estimate of $7.93 billion. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. The company's revenue for the quarter was up 38.2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.42 earnings per share. On average, analysts expect that Micron Technology, Inc. will post 6.08 EPS for the current year.

Micron Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be given a dividend of $0.115 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.46 annualized dividend and a dividend yield of 0.65%. Micron Technology's dividend payout ratio (DPR) is presently 11.03%.

Insiders Place Their Bets

In other Micron Technology news, EVP April S. Arnzen sold 15,000 shares of the company's stock in a transaction that occurred on Tuesday, March 25th. The shares were 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 represents a 8.34 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Mary Pat Mccarthy sold 2,404 shares of Micron Technology stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $92.93, for a total transaction of $223,403.72. Following the transaction, the director now owns 27,358 shares in the company, valued at approximately $2,542,378.94. This trade represents a 8.08 % decrease in their position. The disclosure for this sale can be found here. 0.30% of the stock is currently owned by insiders.

Analyst Ratings Changes

MU has been the topic of a number of recent research reports. Royal Bank of Canada set a $125.00 price target on Micron Technology in a research report on Wednesday, March 19th. TD Cowen reduced their target price on shares of Micron Technology from $135.00 to $125.00 and set a "buy" rating for the company in a research note on Thursday, December 19th. Citigroup cut their price objective on shares of Micron Technology from $120.00 to $110.00 and set a "buy" rating for the company in a report on Friday. KGI Securities upgraded Micron Technology to a "strong-buy" rating in a research report on Friday, February 21st. Finally, UBS Group boosted their price objective on Micron Technology from $125.00 to $130.00 and gave the company a "buy" rating in a research note on Monday, March 17th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $129.36.

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.