Micron Technology, Inc. (NASDAQ:MU) Position Boosted by Sycomore Asset Management

Sycomore Asset Management lifted its position in shares of Micron Technology, Inc. (NASDAQ:MU) by 147.1% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 135,667 shares of the semiconductor manufacturer’s stock after buying an additional 80,758 shares during the period. Micron Technology accounts for approximately 2.2% of Sycomore Asset Management’s portfolio, making the stock its 10th largest holding. Sycomore Asset Management’s holdings in Micron Technology were worth $14,907,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Highline Wealth Partners LLC acquired a new position in Micron Technology during the third quarter worth approximately $26,000. Hobbs Group Advisors LLC acquired a new stake in shares of Micron Technology in the second quarter worth $28,000. Davis Capital Management acquired a new stake in shares of Micron Technology in the third quarter worth $30,000. Richard W. Paul & Associates LLC increased 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 acquiring an additional 144 shares in the last quarter. Finally, DT Investment Partners LLC increased its position in shares of Micron Technology by 261.1% in the third quarter. DT Investment Partners LLC now owns 325 shares of the semiconductor manufacturer’s stock worth $34,000 after acquiring an additional 235 shares in the last quarter. Hedge funds and other institutional investors own 80.84% of the company’s stock.

Wall Street Analysts Forecast Growth

MU has been the subject of a number of recent analyst reports. Stifel Nicolaus lowered their price target on shares of Micron Technology from $165.00 to $135.00 and set a “buy” rating for the company in a report on Thursday, September 19th. Wells Fargo & Company cut their price objective on shares of Micron Technology from $190.00 to $175.00 and set an “overweight” rating on the stock in a research report on Wednesday, September 18th. Susquehanna lowered their target price on shares of Micron Technology from $175.00 to $165.00 and set a “positive” rating on the stock in a research note on Thursday, September 26th. Robert W. Baird decreased their target price on shares of Micron Technology from $172.00 to $150.00 and set an “outperform” rating for the company in a report on Friday, September 27th. Finally, TD Cowen lifted 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. One analyst has rated the stock with a sell rating, two have given a hold rating and twenty-six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $143.04.

Insider Transactions at Micron Technology

In related news, EVP April S. Arnzen sold 4,890 shares of Micron Technology stock in a transaction that occurred on Thursday, September 26th. The stock was sold at an average price of $113.00, for a total transaction of $552,570.00. Following the sale, the executive vice president now directly owns 135,830 shares in the company, valued at $15,348,790. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.32% of the company’s stock.

Micron Technology Trading Up 0.0 %

MU traded up $0.01 during trading on Thursday, hitting $99.93. The company’s stock had a trading volume of 7,032,438 shares, compared to its average volume of 21,641,297. Micron Technology, Inc. has a twelve month low of $72.93 and a twelve month high of $157.54. The company has a quick ratio of 1.68, a current ratio of 2.64 and a debt-to-equity ratio of 0.29. The stock’s fifty day moving average price is $100.93 and its 200-day moving average price is $112.94. The firm has a market capitalization of $110.80 billion, a P/E ratio of 148.53 and a beta of 1.18.

Micron Technology (NASDAQ:MU) last issued its earnings results on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 EPS for the quarter, topping the consensus estimate of $0.97 by $0.21. The business had revenue of $7.75 billion during the quarter, compared to the consensus estimate of $7.65 billion. Micron Technology had a return on equity of 1.58% and a net margin of 3.10%. The firm’s revenue was up 93.3% compared to the same quarter last year. During the same quarter last year, the company earned ($1.21) EPS. 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 was paid on Wednesday, October 23rd. Stockholders of record on Monday, October 7th were given a $0.115 dividend. The ex-dividend date was Monday, October 7th. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.46%. Micron Technology’s dividend payout ratio is currently 67.65%.

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.