Syon Capital LLC Has $909,000 Stake in Micron Technology, Inc. (NASDAQ:MU)

Syon Capital LLC raised its holdings in Micron Technology, Inc. (NASDAQ:MU) by 44.8% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 10,655 shares of the semiconductor manufacturer’s stock after buying an additional 3,295 shares during the quarter. Syon Capital LLC’s holdings in Micron Technology were worth $909,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Exchange Traded Concepts LLC lifted its position in shares of Micron Technology by 411.2% during the 3rd quarter. Exchange Traded Concepts LLC now owns 4,657 shares of the semiconductor manufacturer’s stock valued at $317,000 after acquiring an additional 3,746 shares during the period. CX Institutional raised its holdings in shares of Micron Technology by 4.4% during the third quarter. CX Institutional now owns 6,370 shares of the semiconductor manufacturer’s stock valued at $433,000 after purchasing an additional 271 shares during the period. Czech National Bank boosted its position in shares of Micron Technology by 47.7% during the 3rd quarter. Czech National Bank now owns 191,408 shares of the semiconductor manufacturer’s stock worth $13,021,000 after purchasing an additional 61,854 shares in the last quarter. Asset Management One Co. Ltd. grew its stake in shares of Micron Technology by 0.4% in the 3rd quarter. Asset Management One Co. Ltd. now owns 456,840 shares of the semiconductor manufacturer’s stock valued at $31,079,000 after buying an additional 1,621 shares during the period. Finally, Handelsbanken Fonder AB increased its position in Micron Technology by 5.5% in the 3rd quarter. Handelsbanken Fonder AB now owns 330,961 shares of the semiconductor manufacturer’s stock valued at $22,515,000 after buying an additional 17,287 shares in the last quarter. 80.84% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Citigroup reiterated a “buy” rating and issued a $150.00 price target on shares of Micron Technology in a report on Thursday, April 4th. Stifel Nicolaus reissued a “buy” rating and set a $140.00 target price on shares of Micron Technology in a research report on Friday, April 12th. Barclays lifted their price objective on shares of Micron Technology from $95.00 to $120.00 and gave the stock an “overweight” rating in a report on Monday, March 18th. Wedbush upped their target price on Micron Technology from $103.00 to $130.00 and gave the company an “outperform” rating in a report on Thursday, March 21st. Finally, JPMorgan Chase & Co. raised their price objective on shares of Micron Technology from $105.00 to $130.00 and gave the stock an “overweight” rating in a report on Thursday, March 21st. One analyst has rated the stock with a sell rating, two have given a hold rating and twenty-four have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $122.20.

Micron Technology Trading Up 2.9 %

Shares of Micron Technology stock traded up $3.26 on Friday, hitting $114.84. The stock had a trading volume of 20,488,832 shares, compared to its average volume of 20,552,070. The company has a quick ratio of 2.40, a current ratio of 3.74 and a debt-to-equity ratio of 0.30. Micron Technology, Inc. has a one year low of $59.55 and a one year high of $130.54. The stock’s 50-day simple moving average is $105.24 and its two-hundred day simple moving average is $87.85. The stock has a market cap of $127.17 billion, a price-to-earnings ratio of -32.79 and a beta of 1.27.

Micron Technology (NASDAQ:MU) last released its quarterly earnings data on Wednesday, March 20th. The semiconductor manufacturer reported $0.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.69. The firm had revenue of $5.82 billion for 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 company’s revenue for the quarter was up 57.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($2.03) earnings per share. As a group, sell-side analysts predict that Micron Technology, Inc. will post 0.24 EPS for the current year.

Micron Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 16th. Shareholders of record on Monday, April 1st were issued a $0.115 dividend. This represents a $0.46 annualized dividend and a yield of 0.40%. The ex-dividend date was Thursday, March 28th. Micron Technology’s dividend payout ratio (DPR) is currently -13.33%.

Insider Activity

In other news, CEO Sanjay Mehrotra sold 45,000 shares of the firm’s stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $130.00, for a total value of $5,850,000.00. Following the completion of the sale, the chief executive officer now directly owns 728,557 shares of the company’s stock, valued at approximately $94,712,410. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, EVP April S. Arnzen sold 4,890 shares of the company’s stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $119.30, for a total value of $583,377.00. Following the transaction, the executive vice president now directly owns 148,817 shares of the company’s stock, valued at approximately $17,753,868.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Sanjay Mehrotra sold 45,000 shares of Micron Technology stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of $130.00, for a total transaction of $5,850,000.00. Following the completion of the sale, the chief executive officer now directly owns 728,557 shares of the company’s stock, valued at approximately $94,712,410. The disclosure for this sale can be found here. Over the last three months, insiders have sold 268,890 shares of company stock valued at $29,738,667. Company insiders own 0.32% of the company’s stock.

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.