Susquehanna Fundamental Investments LLC Takes Position in Micron Technology, Inc. (NASDAQ:MU)

Susquehanna Fundamental Investments LLC acquired a new position in Micron Technology, Inc. (NASDAQ:MU) in the 2nd quarter, Holdings Channel reports. The institutional investor acquired 42,600 shares of the semiconductor manufacturer’s stock, valued at approximately $5,603,000.

Other large investors have also recently bought and sold shares of the company. Steward Partners Investment Advisory LLC grew its position in shares of Micron Technology by 146.7% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 33,622 shares of the semiconductor manufacturer’s stock worth $2,869,000 after buying an additional 19,992 shares during the period. Focus Financial Network Inc. ADV acquired a new stake in Micron Technology during the 4th quarter worth $362,000. J. W. Coons Advisors LLC acquired a new stake in Micron Technology during the 4th quarter worth $213,000. Dorsey & Whitney Trust CO LLC raised its position in shares of Micron Technology by 93.3% during the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 13,406 shares of the semiconductor manufacturer’s stock valued at $1,144,000 after acquiring an additional 6,471 shares during the last quarter. Finally, Rathbones Group PLC boosted its position in shares of Micron Technology by 7.1% in the 4th quarter. Rathbones Group PLC now owns 5,254 shares of the semiconductor manufacturer’s stock worth $448,000 after purchasing an additional 350 shares during the last quarter. Institutional investors and hedge funds own 80.84% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on MU. Wolfe Research upped their price objective on Micron Technology from $150.00 to $200.00 and gave the company an “outperform” rating in a report on Friday, June 21st. JPMorgan Chase & Co. upped their price target on Micron Technology from $130.00 to $180.00 and gave the company an “overweight” rating in a research note on Thursday, June 27th. Stifel Nicolaus reduced their price objective on shares of Micron Technology from $165.00 to $135.00 and set a “buy” rating on the stock in a research note on Thursday, September 19th. Bank of America upped 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. Finally, KeyCorp reduced their price target on shares of Micron Technology from $165.00 to $145.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 6th. One analyst has rated the stock with a sell rating, two have given a hold rating and twenty-five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Micron Technology currently has an average rating of “Moderate Buy” and a consensus price target of $144.38.

Micron Technology Stock Performance

Shares of MU stock opened at $107.50 on Friday. Micron Technology, Inc. has a 12 month low of $63.83 and a 12 month high of $157.54. The company’s fifty day simple moving average is $97.63 and its 200-day simple moving average is $114.81. The firm has a market cap of $119.20 billion, a PE ratio of -75.70, a P/E/G ratio of 0.20 and a beta of 1.17. The company has a quick ratio of 2.16, a current ratio of 3.41 and a debt-to-equity ratio of 0.29.

Micron Technology (NASDAQ:MU) last posted its quarterly earnings data on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 EPS for the quarter, topping analysts’ consensus estimates 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 negative net margin of 7.20% and a negative return on equity of 4.01%. The company’s quarterly revenue was up 93.3% on a year-over-year basis. During the same period in the prior year, the business posted ($1.21) EPS. Equities research analysts expect that Micron Technology, Inc. will post 0.61 EPS for the current fiscal year.

Micron Technology Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 23rd. Shareholders of record on Monday, October 7th will be given a dividend of $0.115 per share. This represents a $0.46 annualized dividend and a dividend yield of 0.43%. The ex-dividend date is Monday, October 7th. Micron Technology’s dividend payout ratio (DPR) is -32.39%.

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.