Micron Technology, Inc. (NASDAQ:MU) Position Raised by Sit Investment Associates Inc.

Sit Investment Associates Inc. grew its position in shares of Micron Technology, Inc. (NASDAQ:MU) by 35.4% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 77,065 shares of the semiconductor manufacturer’s stock after purchasing an additional 20,155 shares during the quarter. Sit Investment Associates Inc.’s holdings in Micron Technology were worth $6,486,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently modified their holdings of MU. Beacon Capital Management LLC grew its holdings in 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 acquiring an additional 200 shares during the period. Midwest Capital Advisors LLC bought a new position in shares of Micron Technology during the 4th quarter valued at about $33,000. Comprehensive Financial Planning Inc. PA acquired a new position in shares of Micron Technology in the 4th quarter worth approximately $34,000. Curio Wealth LLC bought a new stake in shares of Micron Technology in the 4th quarter worth approximately $34,000. Finally, Activest Wealth Management boosted its holdings in Micron Technology by 583.3% during the fourth quarter. Activest Wealth Management now owns 410 shares of the semiconductor manufacturer’s stock worth $34,000 after buying an additional 350 shares in the last quarter. Institutional investors own 80.84% of the company’s stock.

Micron Technology Stock Performance

MU stock opened at $64.72 on Friday. The company has a market capitalization of $72.33 billion, a price-to-earnings ratio of 18.65 and a beta of 1.23. The firm has a 50 day moving average of $93.42 and a two-hundred day moving average of $98.16. The company has a quick ratio of 1.75, a current ratio of 2.72 and a debt-to-equity ratio of 0.28. Micron Technology, Inc. has a 12 month low of $63.86 and a 12 month high of $157.54.

Micron Technology (NASDAQ:MU) last posted its earnings results on Thursday, March 20th. The semiconductor manufacturer reported $1.56 EPS for the quarter, topping the consensus estimate of $1.43 by $0.13. Micron Technology had a net margin of 13.34% and a return on equity of 8.32%. The firm had revenue of $8.05 billion for the quarter, compared to the consensus estimate of $7.93 billion. During the same period in the prior year, the business posted $0.42 earnings per share. The business’s quarterly revenue was up 38.2% on a year-over-year basis. As a group, equities analysts anticipate that Micron Technology, Inc. will post 6.08 EPS for the current fiscal year.

Micron Technology Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be issued a $0.115 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.46 annualized dividend and a yield of 0.71%. Micron Technology’s dividend payout ratio (DPR) is currently 11.03%.

Insiders Place Their Bets

In other Micron Technology news, EVP April S. Arnzen sold 15,000 shares of Micron Technology stock in a transaction that occurred on Tuesday, March 25th. The stock was sold at an average price of $96.18, for a total value of $1,442,700.00. Following the transaction, the executive vice president now directly owns 164,769 shares of the company’s stock, valued at $15,847,482.42. The trade was a 8.34 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Mary Pat Mccarthy sold 2,404 shares of the stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $92.93, for a total value of $223,403.72. Following the completion of the sale, the director now directly owns 27,358 shares of the company’s stock, valued at $2,542,378.94. This represents a 8.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.30% of the company’s stock.

Analysts Set New Price Targets

MU has been the topic of several research reports. Stifel Nicolaus dropped their price target on Micron Technology from $135.00 to $130.00 and set a “buy” rating on the stock in a report on Thursday, December 19th. Wells Fargo & Company cut their target price on Micron Technology from $140.00 to $130.00 and set an “overweight” rating on the stock in a research report on Thursday, March 13th. Citigroup dropped their price target on Micron Technology from $150.00 to $120.00 and set a “buy” rating on the stock in a research note on Friday, March 21st. Wedbush restated an “outperform” rating and set a $125.00 price target on shares of Micron Technology in a report on Monday, March 17th. Finally, Morgan Stanley raised their price objective on shares of Micron Technology from $91.00 to $112.00 and gave the stock an “equal weight” rating in a research note on Friday, March 21st. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $129.76.

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.