Micron Technology, Inc. (NASDAQ:MU) is Intellectus Partners LLC’s 7th Largest Position

Intellectus Partners LLC increased its position in shares of Micron Technology, Inc. (NASDAQ:MU) by 26.1% in the fourth quarter, Holdings Channel.com reports. The firm owned 68,015 shares of the semiconductor manufacturer’s stock after purchasing an additional 14,095 shares during the quarter. Micron Technology comprises approximately 1.7% of Intellectus Partners LLC’s investment portfolio, making the stock its 7th biggest position. Intellectus Partners LLC’s holdings in Micron Technology were worth $5,812,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently made changes to their positions in MU. Annis Gardner Whiting Capital Advisors LLC purchased a new stake in Micron Technology in the 3rd quarter valued at about $28,000. OFI Invest Asset Management purchased a new stake in Micron Technology in the 3rd quarter valued at about $27,000. VisionPoint Advisory Group LLC boosted its position in Micron Technology by 68.3% in the 3rd quarter. VisionPoint Advisory Group LLC now owns 488 shares of the semiconductor manufacturer’s stock valued at $33,000 after buying an additional 198 shares during the period. Cape Investment Advisory Inc. boosted its position in Micron Technology by 51.0% in the 3rd quarter. Cape Investment Advisory Inc. now owns 592 shares of the semiconductor manufacturer’s stock valued at $40,000 after buying an additional 200 shares during the period. Finally, Clear Street Markets LLC boosted its position in Micron Technology by 67.5% in the 3rd quarter. Clear Street Markets LLC now owns 623 shares of the semiconductor manufacturer’s stock valued at $42,000 after buying an additional 251 shares during the period. 80.84% of the stock is owned by hedge funds and other institutional investors.

Micron Technology Stock Performance

Shares of MU stock traded up $3.26 during trading hours on Friday, hitting $114.84. The company’s stock had a trading volume of 20,612,299 shares, compared to its average volume of 24,401,036. The company has a 50 day moving average of $105.94 and a 200 day moving average of $88.30. The stock has a market cap of $127.17 billion, a PE ratio of -33.29 and a beta of 1.27. The company has a current ratio of 3.74, a quick ratio of 2.40 and a debt-to-equity ratio of 0.30. Micron Technology, Inc. has a 12-month low of $59.55 and a 12-month high of $130.54.

Micron Technology (NASDAQ:MU) last released its quarterly earnings data 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 business had revenue of $5.82 billion for the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period in the prior year, the firm earned ($2.03) EPS. On average, sell-side analysts forecast that Micron Technology, Inc. will post 0.24 EPS for the current fiscal year.

Micron Technology Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 16th. Investors of record on Monday, April 1st were issued a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a yield of 0.40%. The ex-dividend date of this dividend was Thursday, March 28th. Micron Technology’s dividend payout ratio (DPR) is presently -13.33%.

Analysts Set New Price Targets

MU has been the subject of several recent research reports. Stifel Nicolaus restated a “buy” rating and issued a $140.00 price target on shares of Micron Technology in a report on Friday, April 12th. Needham & Company LLC boosted their price target on shares of Micron Technology from $100.00 to $120.00 and gave the company a “buy” rating in a report on Thursday, March 21st. Piper Sandler boosted their price target on shares of Micron Technology from $95.00 to $130.00 and gave the company an “overweight” rating in a report on Thursday, March 21st. Barclays boosted their price target on shares of Micron Technology from $95.00 to $120.00 and gave the company an “overweight” rating in a report on Monday, March 18th. Finally, UBS Group boosted their price target on shares of Micron Technology from $95.00 to $120.00 and gave the company a “buy” rating in a report on Tuesday, March 19th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-four have assigned a buy rating to the company. Based on data from MarketBeat, Micron Technology presently has a consensus rating of “Moderate Buy” and a consensus price target of $122.20.

Insider Buying and Selling

In related news, EVP April S. Arnzen sold 4,890 shares of the stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $119.30, for a total transaction of $583,377.00. Following the sale, the executive vice president now directly owns 148,817 shares of the company’s stock, valued at $17,753,868.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, EVP April S. Arnzen sold 4,890 shares of the stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $119.30, for a total transaction of $583,377.00. Following the sale, the executive vice president now directly owns 148,817 shares of the company’s stock, valued at $17,753,868.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Sanjay Mehrotra sold 7,000 shares of the stock in a transaction on Tuesday, April 23rd. The shares were sold at an average price of $111.93, for a total transaction of $783,510.00. Following the transaction, the chief executive officer now directly owns 719,049 shares in the company, valued at $80,483,154.57. 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. Corporate insiders own 0.32% 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.