Straightline Group LLC Makes New Investment in Micron Technology, Inc. (NASDAQ:MU)

Straightline Group LLC bought a new position in Micron Technology, Inc. (NASDAQ:MU - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 4,828 shares of the semiconductor manufacturer's stock, valued at approximately $406,000. Micron Technology comprises about 0.3% of Straightline Group LLC's portfolio, making the stock its 23rd biggest position.

A number of other institutional investors and hedge funds also recently modified their holdings of MU. Bernard Wealth Management Corp. acquired a new position in shares of Micron Technology in the fourth quarter worth $43,000. Rathbones Group PLC increased its position in Micron Technology by 14.1% in the 4th quarter. Rathbones Group PLC now owns 6,492 shares of the semiconductor manufacturer's stock worth $546,000 after purchasing an additional 800 shares during the last quarter. Twin Capital Management Inc. raised its stake in shares of Micron Technology by 0.5% during the 4th quarter. Twin Capital Management Inc. now owns 20,062 shares of the semiconductor manufacturer's stock worth $1,688,000 after purchasing an additional 108 shares in the last quarter. Invesco Ltd. lifted its holdings in shares of Micron Technology by 1.7% during the 4th quarter. Invesco Ltd. now owns 10,207,903 shares of the semiconductor manufacturer's stock valued at $859,097,000 after buying an additional 175,187 shares during the last quarter. Finally, Concentrum Wealth Management grew its stake in shares of Micron Technology by 21.5% in the 4th quarter. Concentrum Wealth Management now owns 8,130 shares of the semiconductor manufacturer's stock valued at $684,000 after buying an additional 1,438 shares in the last quarter. 80.84% of the stock is owned by institutional investors and hedge funds.

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Analyst Ratings Changes

MU has been the subject of a number of recent research reports. KGI Securities upgraded shares of Micron Technology to a "strong-buy" rating in a report on Friday, February 21st. TD Cowen decreased their price target on Micron Technology from $135.00 to $125.00 and set a "buy" rating for the company in a research note on Thursday, December 19th. Stifel Nicolaus lowered their price objective on Micron Technology from $135.00 to $130.00 and set a "buy" rating on the stock in a report on Thursday, December 19th. Morgan Stanley boosted their target price on Micron Technology from $91.00 to $112.00 and gave the stock an "equal weight" rating in a report on Friday, March 21st. Finally, Wedbush reiterated an "outperform" rating and set a $125.00 price target on shares of Micron Technology in a report on Monday, March 17th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Micron Technology has a consensus rating of "Moderate Buy" and a consensus target price of $129.36.

Insiders Place Their Bets

In other news, EVP April S. Arnzen sold 15,000 shares of the business's stock in a transaction dated Tuesday, March 25th. The stock was sold at an average price of $96.18, for a total transaction of $1,442,700.00. Following the completion of the transaction, the executive vice president now owns 164,769 shares of the company's stock, valued at approximately $15,847,482.42. The trade was a 8.34 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Mary Pat Mccarthy sold 2,404 shares of Micron Technology stock in a transaction that occurred 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 sale, the director now owns 27,358 shares of the company's stock, valued at approximately $2,542,378.94. The trade was a 8.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.30% of the company's stock.

Micron Technology Stock Down 0.7 %

Shares of NASDAQ:MU traded down $0.50 during mid-day trading on Friday, hitting $69.55. 30,755,036 shares of the company traded hands, compared to its average volume of 23,245,779. 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 stock has a market cap of $77.73 billion, a P/E ratio of 20.04 and a beta of 1.18. The stock has a 50-day moving average price of $90.66 and a two-hundred day moving average price of $97.09. 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 issued its quarterly earnings results on Thursday, March 20th. The semiconductor manufacturer reported $1.56 EPS for the quarter, topping analysts' consensus estimates of $1.43 by $0.13. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. The business had revenue of $8.05 billion for the quarter, compared to analyst estimates of $7.93 billion. During the same period last year, the company posted $0.42 earnings per share. Micron Technology's quarterly revenue was up 38.2% compared to the same quarter last year. On average, equities research analysts forecast that Micron Technology, Inc. will post 6.08 earnings per share for the current year.

Micron Technology Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be issued a dividend of $0.115 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.46 dividend on an annualized basis and a yield of 0.66%. Micron Technology's payout ratio is 11.03%.

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.