Sierra Ocean LLC Acquires Shares of 768 Micron Technology, Inc. (NASDAQ:MU)

Sierra Ocean LLC acquired a new stake in Micron Technology, Inc. (NASDAQ:MU) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 768 shares of the semiconductor manufacturer’s stock, valued at approximately $65,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of MU. Highline Wealth Partners LLC bought a new position in shares of Micron Technology during the third quarter worth $26,000. Beacon Capital Management LLC boosted its position in shares of Micron Technology by 114.9% during the fourth quarter. Beacon Capital Management LLC now owns 374 shares of the semiconductor manufacturer’s stock worth $31,000 after purchasing an additional 200 shares in the last quarter. True Wealth Design LLC raised its holdings in shares of Micron Technology by 1,096.3% during the third quarter. True Wealth Design LLC now owns 323 shares of the semiconductor manufacturer’s stock worth $33,000 after acquiring an additional 296 shares during the period. DT Investment Partners LLC raised its holdings in shares of Micron Technology by 261.1% during 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 during the period. Finally, Stone House Investment Management LLC raised its holdings in shares of Micron Technology by 602.2% during the third quarter. Stone House Investment Management LLC now owns 323 shares of the semiconductor manufacturer’s stock worth $34,000 after acquiring an additional 277 shares during the period. 80.84% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently commented on MU shares. Piper Sandler dropped their price objective on shares of Micron Technology from $150.00 to $120.00 and set an “overweight” rating on the stock in a report on Thursday, December 19th. Sanford C. Bernstein dropped their price objective on shares of Micron Technology from $140.00 to $120.00 and set an “outperform” rating on the stock in a report on Wednesday, December 18th. The Goldman Sachs Group dropped their price objective on shares of Micron Technology from $145.00 to $128.00 and set a “buy” rating on the stock in a report on Thursday, December 19th. Bank of America lowered shares of Micron Technology from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $125.00 to $110.00 in a report on Thursday, December 19th. Finally, Needham & Company LLC lowered their price target on shares of Micron Technology from $140.00 to $120.00 and set a “buy” rating on the stock in a research note on Thursday, December 19th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-three have issued a buy rating to the stock. According to data from MarketBeat.com, Micron Technology presently has a consensus rating of “Moderate Buy” and a consensus target price of $134.96.

Micron Technology Stock Up 4.0 %

MU stock opened at $99.52 on Tuesday. The company has a current ratio of 2.72, a quick ratio of 1.75 and a debt-to-equity ratio of 0.28. The firm has a market capitalization of $110.88 billion, a PE ratio of 28.68 and a beta of 1.18. Micron Technology, Inc. has a 1-year low of $79.15 and a 1-year high of $157.54. The business’s 50 day simple moving average is $96.10 and its 200 day simple moving average is $98.54.

Micron Technology (NASDAQ:MU) last released its quarterly earnings results on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.60 by $0.19. The business had revenue of $8.71 billion during the quarter, compared to the consensus estimate of $8.71 billion. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. The firm’s quarterly revenue was up 84.3% on a year-over-year basis. During the same period in the previous year, the company posted ($0.95) EPS. As a group, research analysts anticipate that Micron Technology, Inc. will post 6.29 EPS for the current year.

Micron Technology Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Monday, December 30th were given a dividend of $0.115 per share. The ex-dividend date was Monday, December 30th. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.46%. Micron Technology’s payout ratio is 13.26%.

Insider Buying and Selling

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of the company’s stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $85.21, for a total value of $416,676.90. Following the completion of the transaction, the executive vice president now owns 181,223 shares of the company’s stock, valued at $15,442,011.83. This represents a 2.63 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.30% of the stock is owned by corporate insiders.

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.