Kempner Capital Management Inc. Raises Stake in Micron Technology, Inc. (NASDAQ:MU)

Kempner Capital Management Inc. boosted its holdings in Micron Technology, Inc. (NASDAQ:MU) by 16.8% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 94,192 shares of the semiconductor manufacturer’s stock after buying an additional 13,581 shares during the quarter. Micron Technology accounts for about 5.0% of Kempner Capital Management Inc.’s investment portfolio, making the stock its largest position. Kempner Capital Management Inc.’s holdings in Micron Technology were worth $9,769,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently modified their holdings of the company. DecisionPoint Financial LLC purchased a new stake in shares of Micron Technology during the first quarter worth $25,000. Hobbs Group Advisors LLC bought a new position in shares of Micron Technology during the 2nd quarter valued at $28,000. Valued Wealth Advisors LLC boosted its holdings in Micron Technology by 230.7% in the first quarter. Valued Wealth Advisors LLC now owns 248 shares of the semiconductor manufacturer’s stock worth $29,000 after purchasing an additional 173 shares in the last quarter. Davis Capital Management acquired a new stake in shares of Micron Technology in the third quarter worth about $30,000. Finally, Richard W. Paul & Associates LLC lifted its position in shares of Micron Technology by 128.6% in the second quarter. Richard W. Paul & Associates LLC now owns 256 shares of the semiconductor manufacturer’s stock worth $34,000 after buying an additional 144 shares during the last quarter. Institutional investors and hedge funds own 80.84% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Bank of America raised their target price on shares of Micron Technology from $110.00 to $125.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. Piper Sandler increased their price objective on Micron Technology from $130.00 to $150.00 and gave the company an “overweight” rating in a research report on Thursday, June 27th. KeyCorp reduced their price target on shares of Micron Technology from $145.00 to $135.00 and set an “overweight” rating for the company in a report on Tuesday, October 8th. TD Cowen increased their target price on shares of Micron Technology from $115.00 to $135.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. Finally, Rosenblatt Securities upped their price target on Micron Technology from $225.00 to $250.00 and gave the company a “buy” rating in a report on Thursday, September 26th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $142.85.

Insider Buying and Selling

In other news, EVP April S. Arnzen sold 4,890 shares of the firm’s stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $113.00, for a total value of $552,570.00. Following the completion of the transaction, the executive vice president now owns 135,830 shares in the company, valued at $15,348,790. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.32% of the stock is currently owned by corporate insiders.

Micron Technology Trading Down 2.3 %

Shares of NASDAQ MU traded down $2.54 during midday trading on Tuesday, hitting $106.54. The stock had a trading volume of 5,869,453 shares, compared to its average volume of 22,168,266. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.64 and a quick ratio of 1.68. Micron Technology, Inc. has a fifty-two week low of $63.88 and a fifty-two week high of $157.54. The firm has a market cap of $118.14 billion, a P/E ratio of -75.20 and a beta of 1.18. The company’s 50-day simple moving average is $98.93 and its 200 day simple moving average is $114.28.

Micron Technology (NASDAQ:MU) last issued its quarterly earnings data on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.97 by $0.21. The company had revenue of $7.75 billion during the quarter, compared to the consensus estimate of $7.65 billion. Micron Technology had a net margin of 3.10% and a return on equity of 1.58%. The firm’s revenue was up 93.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($1.21) earnings per share. Research analysts anticipate that Micron Technology, Inc. will post 8.31 EPS for the current year.

Micron Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 23rd. Stockholders of record on Monday, October 7th will be issued a $0.115 dividend. The ex-dividend date is Monday, October 7th. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.43%. Micron Technology’s dividend payout ratio (DPR) is presently -32.39%.

Micron Technology 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.