Stablepoint Partners LLC Purchases Shares of 6,762 Micron Technology, Inc. (NASDAQ:MU)

Stablepoint Partners LLC bought a new stake in Micron Technology, Inc. (NASDAQ:MU - Free Report) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 6,762 shares of the semiconductor manufacturer's stock, valued at approximately $569,000.

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

Micron Technology Stock Performance

NASDAQ:MU traded down $12.11 during midday trading on Monday, reaching $91.09. The stock had a trading volume of 50,553,235 shares, compared to its average volume of 26,710,658. The stock has a market cap of $101.48 billion, a P/E ratio of 26.25 and a beta of 1.18. The company has a quick ratio of 1.75, a current ratio of 2.72 and a debt-to-equity ratio of 0.28. Micron Technology, Inc. has a 12-month low of $79.15 and a 12-month high of $157.54. The firm has a fifty day simple moving average of $98.36 and a two-hundred day simple moving average of $101.08.

Micron Technology (NASDAQ:MU - Get Free Report) last released 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 return on equity of 8.32% and a net margin of 13.34%. The company had revenue of $8.71 billion for the quarter, compared to analysts' expectations of $8.71 billion. During the same quarter in the previous year, the firm posted ($0.95) EPS. The firm's quarterly revenue was up 84.3% on a year-over-year basis. On average, equities analysts expect that Micron Technology, Inc. will post 6.29 EPS for the current year.

Micron Technology Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Monday, December 30th were issued a $0.115 dividend. The ex-dividend date of this dividend was Monday, December 30th. This represents a $0.46 dividend on an annualized basis and a yield of 0.51%. Micron Technology's dividend payout ratio (DPR) is presently 13.26%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on MU. Stifel Nicolaus reduced their price target on shares of Micron Technology from $135.00 to $130.00 and set a "buy" rating on the stock in a research report on Thursday, December 19th. Wedbush restated an "outperform" rating and issued a $140.00 target price on shares of Micron Technology in a research report on Tuesday, December 17th. Sanford C. Bernstein decreased their price target on Micron Technology from $140.00 to $120.00 and set an "outperform" rating on the stock in a research note on Wednesday, December 18th. Piper Sandler cut their price objective on Micron Technology from $150.00 to $120.00 and set an "overweight" rating for the company in a research report on Thursday, December 19th. Finally, China Renaissance initiated coverage on shares of Micron Technology in a research report on Monday, October 28th. They issued a "buy" rating and a $148.00 target price on the stock. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-three have issued a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $135.24.

Insider Transactions at Micron Technology

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of the company's stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $85.21, for a total value of $416,676.90. Following the sale, the executive vice president now owns 181,223 shares of the company's stock, valued at $15,442,011.83. This represents a 2.63 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.30% of the company's stock.

Micron Technology Company 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.