Hodges Capital Management Inc. Purchases 35,480 Shares of Micron Technology, Inc. (NASDAQ:MU)

Hodges Capital Management Inc. grew its position in Micron Technology, Inc. (NASDAQ:MU) by 23.3% in the fourth quarter, HoldingsChannel.com reports. The fund owned 187,902 shares of the semiconductor manufacturer’s stock after buying an additional 35,480 shares during the period. Hodges Capital Management Inc.’s holdings in Micron Technology were worth $15,814,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. Czech National Bank boosted its position in Micron Technology by 7.1% during the third quarter. Czech National Bank now owns 225,924 shares of the semiconductor manufacturer’s stock worth $23,431,000 after purchasing an additional 14,902 shares during the period. Mirador Capital Partners LP acquired a new stake in shares of Micron Technology during the 3rd quarter worth about $482,000. Handelsbanken Fonder AB boosted its holdings in shares of Micron Technology by 2.4% during the 3rd quarter. Handelsbanken Fonder AB now owns 434,596 shares of the semiconductor manufacturer’s stock worth $45,072,000 after buying an additional 9,992 shares during the period. GAMMA Investing LLC boosted its holdings in shares of Micron Technology by 12.1% during the 3rd quarter. GAMMA Investing LLC now owns 15,599 shares of the semiconductor manufacturer’s stock worth $1,618,000 after buying an additional 1,689 shares during the period. Finally, Diversified Trust Co grew its stake in Micron Technology by 37.0% in the 3rd quarter. Diversified Trust Co now owns 22,202 shares of the semiconductor manufacturer’s stock valued at $2,303,000 after buying an additional 5,995 shares during the last quarter. 80.84% of the stock is currently owned by institutional investors and hedge funds.

Micron Technology Trading Down 1.4 %

Shares of Micron Technology stock opened at $91.24 on Monday. The firm has a market capitalization of $101.66 billion, a PE ratio of 26.29 and a beta of 1.18. 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’s 50 day moving average is $97.43 and its 200 day moving average is $99.74. Micron Technology, Inc. has a 1 year low of $79.15 and a 1 year high of $157.54.

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

Micron Technology Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Monday, December 30th were paid a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.50%. The ex-dividend date of this dividend was Monday, December 30th. Micron Technology’s payout ratio is 13.26%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Bank of America downgraded shares of Micron Technology from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $125.00 to $110.00 in a research report on Thursday, December 19th. Rosenblatt Securities reissued a “buy” rating and set a $250.00 price target on shares of Micron Technology in a report on Wednesday, December 18th. The Goldman Sachs Group decreased their price objective on Micron Technology from $145.00 to $128.00 and set a “buy” rating on the stock in a report on Thursday, December 19th. Wedbush reissued an “outperform” rating and set a $140.00 target price on shares of Micron Technology in a report on Tuesday, December 17th. Finally, Needham & Company LLC decreased 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 investment 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 company. According to data from MarketBeat, Micron Technology currently has a consensus rating of “Moderate Buy” and a consensus price target of $134.96.

Insider Transactions at Micron Technology

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of Micron Technology stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $85.21, for a total transaction of $416,676.90. Following the transaction, the executive vice president now directly owns 181,223 shares of the company’s stock, valued at approximately $15,442,011.83. The trade was a 2.63 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.30% 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.