Keel Point LLC Acquires New Position in Micron Technology, Inc. (NASDAQ:MU)

Keel Point LLC bought a new stake in Micron Technology, Inc. (NASDAQ:MU) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 3,041 shares of the semiconductor manufacturer’s stock, valued at approximately $260,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in MU. Annis Gardner Whiting Capital Advisors LLC acquired a new stake in shares of Micron Technology during the third quarter worth about $28,000. OFI Invest Asset Management bought a new position in Micron Technology in the third quarter valued at approximately $27,000. VisionPoint Advisory Group LLC increased its position in shares of Micron Technology by 68.3% during the third quarter. VisionPoint Advisory Group LLC now owns 488 shares of the semiconductor manufacturer’s stock worth $33,000 after acquiring an additional 198 shares in the last quarter. Coppell Advisory Solutions LLC acquired a new stake in shares of Micron Technology during the second quarter worth $32,000. Finally, Fortis Capital Advisors LLC bought a new stake in Micron Technology in the 4th quarter valued at $25,000. Institutional investors own 80.84% of the company’s stock.

Wall Street Analyst Weigh In

MU has been the subject of a number of recent research reports. TD Cowen upped their price target on Micron Technology from $120.00 to $150.00 and gave the stock an “outperform” rating in a research report on Thursday, March 21st. Mizuho raised their target price on shares of Micron Technology from $105.00 to $124.00 and gave the company a “buy” rating in a research report on Thursday, March 21st. Needham & Company LLC boosted their price target on shares of Micron Technology from $100.00 to $120.00 and gave the stock a “buy” rating in a research report on Thursday, March 21st. Evercore ISI increased their price objective on shares of Micron Technology from $90.00 to $100.00 and gave the stock an “outperform” rating in a research note on Thursday, December 21st. Finally, UBS Group lifted their target price on Micron Technology from $95.00 to $120.00 and gave the company a “buy” rating in a research report on Tuesday, March 19th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-four have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $122.20.

Insider Activity

In other Micron Technology news, CEO Sanjay Mehrotra sold 45,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 25th. The shares were sold at an average price of $90.00, for a total value of $4,050,000.00. Following the sale, the chief executive officer now owns 788,557 shares in the company, valued at $70,970,130. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Micron Technology news, CEO Sanjay Mehrotra sold 45,000 shares of the company’s stock in a transaction dated Thursday, January 25th. The stock was sold at an average price of $90.00, for a total value of $4,050,000.00. Following the completion of the transaction, the chief executive officer now owns 788,557 shares of the company’s stock, valued at approximately $70,970,130. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP April S. Arnzen sold 4,890 shares of the stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $119.30, for a total value of $583,377.00. Following the completion of the transaction, the executive vice president now owns 148,817 shares of the company’s stock, valued at $17,753,868.10. The disclosure for this sale can be found here. In the last three months, insiders have sold 306,890 shares of company stock worth $32,772,127. Corporate insiders own 0.32% of the company’s stock.

Micron Technology Price Performance

NASDAQ:MU opened at $121.77 on Wednesday. Micron Technology, Inc. has a fifty-two week low of $58.03 and a fifty-two week high of $130.54. The company has a current ratio of 3.74, a quick ratio of 2.40 and a debt-to-equity ratio of 0.30. The stock has a fifty day moving average price of $101.36 and a 200-day moving average price of $86.01.

Micron Technology (NASDAQ:MU) last issued its earnings results on Wednesday, March 20th. The semiconductor manufacturer reported $0.42 EPS for the quarter, beating the consensus estimate of ($0.27) by $0.69. The company had revenue of $5.82 billion during the quarter, compared to analysts’ expectations of $5.35 billion. Micron Technology had a negative net margin of 20.57% and a negative return on equity of 8.98%. The business’s revenue for the quarter was up 57.7% compared to the same quarter last year. During the same period in the previous year, the company earned ($2.03) EPS. As a group, research analysts forecast that Micron Technology, Inc. will post 0.24 earnings per share for the current year.

Micron Technology Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 16th. Stockholders of record on Monday, April 1st were issued a $0.115 dividend. The ex-dividend date of this dividend was Thursday, March 28th. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.38%. Micron Technology’s dividend payout ratio (DPR) is currently -13.33%.

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.