Micron Technology, Inc. (NASDAQ:MU) Shares Acquired by Mount Lucas Management LP

Mount Lucas Management LP lifted its position in Micron Technology, Inc. (NASDAQ:MU) by 609.9% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,000 shares of the semiconductor manufacturer’s stock after acquiring an additional 6,014 shares during the period. Mount Lucas Management LP’s holdings in Micron Technology were worth $726,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Hobbs Group Advisors LLC purchased a new position in Micron Technology during the second quarter worth approximately $28,000. Highline Wealth Partners LLC acquired a new position in shares of Micron Technology during the 3rd quarter valued at about $26,000. Richard W. Paul & Associates LLC grew its holdings 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 valued at $34,000 after purchasing an additional 144 shares during the period. LRI Investments LLC increased its position in Micron Technology by 57.2% during the second quarter. LRI Investments LLC now owns 272 shares of the semiconductor manufacturer’s stock worth $36,000 after purchasing an additional 99 shares during the last quarter. Finally, Davis Capital Management purchased a new position in Micron Technology during the third quarter worth about $30,000. 80.84% of the stock is currently owned by hedge funds and other institutional investors.

Micron Technology Price Performance

Shares of NASDAQ MU opened at $96.34 on Monday. The stock’s 50-day simple moving average is $101.33 and its 200-day simple moving average is $112.74. The firm has a market capitalization of $106.82 billion, a PE ratio of 141.68 and a beta of 1.18. Micron Technology, Inc. has a fifty-two week low of $72.93 and a fifty-two week high of $157.54. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.68 and a current ratio of 2.64.

Micron Technology (NASDAQ:MU) last released its quarterly earnings data on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 earnings per share for the quarter, topping analysts’ consensus estimates of $0.97 by $0.21. Micron Technology had a net margin of 3.10% and a return on equity of 1.58%. The company had revenue of $7.75 billion for the quarter, compared to analysts’ expectations of $7.65 billion. During the same quarter last year, the company earned ($1.21) earnings per share. The firm’s revenue for the quarter was up 93.3% on a year-over-year basis. As a group, equities research analysts forecast that Micron Technology, Inc. will post 8.31 EPS for the current fiscal year.

Micron Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 23rd. Shareholders of record on Monday, October 7th were paid a $0.115 dividend. The ex-dividend date of this dividend was Monday, October 7th. This represents a $0.46 annualized dividend and a yield of 0.48%. Micron Technology’s dividend payout ratio is presently 67.65%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on MU. UBS Group cut their price target on shares of Micron Technology from $153.00 to $135.00 and set a “buy” rating for the company in a report on Tuesday, September 17th. Wells Fargo & Company decreased their price objective on shares of Micron Technology from $190.00 to $175.00 and set an “overweight” rating on the stock in a report on Wednesday, September 18th. Citigroup dropped their target price on shares of Micron Technology from $175.00 to $150.00 and set a “buy” rating for the company in a report on Tuesday, September 17th. Needham & Company LLC restated a “buy” rating and set a $140.00 price target on shares of Micron Technology in a research report on Thursday, September 26th. Finally, Rosenblatt Securities boosted their price objective 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 given a hold rating and twenty-six have assigned a buy rating to the company’s stock. According to MarketBeat, Micron Technology currently has a consensus rating of “Moderate Buy” and an average price target of $143.04.

Insiders Place Their Bets

In related news, EVP April S. Arnzen sold 4,890 shares of the company’s stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $113.00, for a total value of $552,570.00. Following the completion of the sale, the executive vice president now owns 135,830 shares in the company, valued at $15,348,790. This represents a 3.47 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 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.