Barings LLC Increases Position in Micron Technology, Inc. (NASDAQ:MU)

Barings LLC grew its holdings in shares of Micron Technology, Inc. (NASDAQ:MU) by 14.4% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 4,575 shares of the semiconductor manufacturer’s stock after purchasing an additional 575 shares during the period. Barings LLC’s holdings in Micron Technology were worth $390,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. OFI Invest Asset Management bought a new position in shares of Micron Technology in the third quarter worth approximately $27,000. Annis Gardner Whiting Capital Advisors LLC purchased a new stake in Micron Technology during the 3rd quarter valued at $28,000. VisionPoint Advisory Group LLC increased its holdings in shares of Micron Technology by 68.3% in the 3rd quarter. VisionPoint Advisory Group LLC now owns 488 shares of the semiconductor manufacturer’s stock worth $33,000 after purchasing an additional 198 shares in the last quarter. Cape Investment Advisory Inc. raised its position in Micron Technology by 51.0% in the 3rd quarter. Cape Investment Advisory Inc. now owns 592 shares of the semiconductor manufacturer’s stock worth $40,000 after buying an additional 200 shares during the last quarter. Finally, Clear Street Markets LLC boosted its holdings in shares of Micron Technology by 67.5% during the 3rd quarter. Clear Street Markets LLC now owns 623 shares of the semiconductor manufacturer’s stock valued at $42,000 after acquiring an additional 251 shares during the last quarter. 80.84% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Micron Technology news, CEO Sanjay Mehrotra sold 7,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $80.44, for a total transaction of $563,080.00. Following the sale, the chief executive officer now owns 788,557 shares of the company’s stock, valued at approximately $63,431,525.08. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Micron Technology news, CEO Sanjay Mehrotra sold 7,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $80.44, for a total transaction of $563,080.00. Following the completion of the transaction, the chief executive officer now directly owns 788,557 shares of the company’s stock, valued at approximately $63,431,525.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP April S. Arnzen sold 4,890 shares of the company’s stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $119.30, for a total transaction of $583,377.00. Following the completion of the sale, the executive vice president now directly owns 148,817 shares in the company, valued at $17,753,868.10. The disclosure for this sale can be found here. Insiders have sold a total of 417,446 shares of company stock worth $47,867,783 in the last ninety days. 0.32% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Cantor Fitzgerald boosted their price target on Micron Technology from $135.00 to $150.00 and gave the company an “overweight” rating in a research note on Monday, April 8th. Rosenblatt Securities reaffirmed a “buy” rating and set a $140.00 target price on shares of Micron Technology in a report on Monday, March 18th. Raymond James lifted their price target on shares of Micron Technology from $90.00 to $100.00 and gave the stock an “outperform” rating in a research note on Friday, January 19th. TD Cowen upped their price objective on Micron Technology from $120.00 to $150.00 and gave the stock an “outperform” rating in a research note on Thursday, March 21st. Finally, UBS Group lifted their target price on Micron Technology from $95.00 to $120.00 and gave the company a “buy” rating in a research report on Tuesday, March 19th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and twenty-five have given a buy rating to the stock. According to data from MarketBeat, Micron Technology currently has an average rating of “Moderate Buy” and an average price target of $125.64.

Micron Technology Stock Down 0.4 %

Micron Technology stock traded down $0.56 during midday trading on Friday, hitting $127.33. 3,557,695 shares of the company’s stock were exchanged, compared to its average volume of 19,559,936. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.40 and a current ratio of 3.74. The company has a market cap of $141.00 billion, a PE ratio of -37.07 and a beta of 1.27. The firm has a 50-day moving average of $114.14 and a two-hundred day moving average of $93.12. Micron Technology, Inc. has a 12 month low of $60.50 and a 12 month high of $130.54.

Micron Technology (NASDAQ:MU) last announced its earnings results on Wednesday, March 20th. The semiconductor manufacturer reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.27) by $0.69. The business had revenue of $5.82 billion for the quarter, compared to analysts’ expectations of $5.35 billion. Micron Technology had a negative return on equity of 8.98% and a negative net margin of 20.57%. The business’s revenue for the quarter was up 57.7% on a year-over-year basis. During the same quarter last year, the firm earned ($2.03) EPS. As a group, analysts expect that Micron Technology, Inc. will post 0.24 earnings per share for the current fiscal year.

Micron Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 16th. Stockholders of record on Monday, April 1st were issued a dividend of $0.115 per share. The ex-dividend date of this dividend was Thursday, March 28th. This represents a $0.46 annualized dividend and a dividend yield of 0.36%. Micron Technology’s dividend payout ratio is presently -13.33%.

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.