Micron Technology, Inc. (NASDAQ:MU) Stake Boosted by Horizon Investments LLC

Horizon Investments LLC increased its position in shares of Micron Technology, Inc. (NASDAQ:MU) by 65.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 45,663 shares of the semiconductor manufacturer’s stock after acquiring an additional 18,143 shares during the period. Horizon Investments LLC’s holdings in Micron Technology were worth $3,843,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of MU. Swedbank AB grew its position in Micron Technology by 30.4% in the third quarter. Swedbank AB now owns 3,455,819 shares of the semiconductor manufacturer’s stock worth $358,403,000 after acquiring an additional 806,639 shares in the last quarter. Mount Lucas Management LP boosted its holdings in Micron Technology by 609.9% in the third quarter. Mount Lucas Management LP now owns 7,000 shares of the semiconductor manufacturer’s stock worth $726,000 after purchasing an additional 6,014 shares in the last quarter. Claro Advisors LLC boosted its holdings in Micron Technology by 21.7% in the third quarter. Claro Advisors LLC now owns 3,436 shares of the semiconductor manufacturer’s stock worth $356,000 after purchasing an additional 612 shares in the last quarter. TrinityPoint Wealth LLC increased its position in Micron Technology by 3.5% during the third quarter. TrinityPoint Wealth LLC now owns 57,986 shares of the semiconductor manufacturer’s stock worth $6,014,000 after buying an additional 1,959 shares during the last quarter. Finally, Quest Partners LLC raised its holdings in Micron Technology by 1,485.2% during the third quarter. Quest Partners LLC now owns 8,243 shares of the semiconductor manufacturer’s stock valued at $855,000 after buying an additional 7,723 shares in the last quarter. Institutional investors and hedge funds own 80.84% of the company’s stock.

Insider Buying and Selling at Micron Technology

In related news, EVP April S. Arnzen sold 4,890 shares of the company’s stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $85.21, for a total value of $416,676.90. Following the completion of the sale, the executive vice president now owns 181,223 shares in the company, valued at approximately $15,442,011.83. This represents a 2.63 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Mary Pat Mccarthy sold 2,404 shares of the firm’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $92.93, for a total value of $223,403.72. Following the transaction, the director now owns 27,358 shares in the company, valued at approximately $2,542,378.94. This trade represents a 8.08 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.30% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on MU shares. Wedbush reissued an “outperform” rating and set a $125.00 price objective on shares of Micron Technology in a report on Monday. Barclays decreased their price objective on shares of Micron Technology from $145.00 to $110.00 and set an “overweight” rating for the company in a report on Friday, December 20th. Stifel Nicolaus dropped their target price on shares of Micron Technology from $135.00 to $130.00 and set a “buy” rating on the stock in a report on Thursday, December 19th. Sanford C. Bernstein lowered their price target on Micron Technology from $140.00 to $120.00 and set an “outperform” rating on the stock in a research report on Wednesday, December 18th. Finally, KGI Securities raised Micron Technology to a “strong-buy” rating in a research report on Friday, February 21st. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $134.16.

Micron Technology Price Performance

Micron Technology stock opened at $103.11 on Tuesday. The business’s fifty day moving average is $96.80 and its two-hundred day moving average is $98.13. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.75 and a current ratio of 2.72. The firm has a market cap of $114.88 billion, a P/E ratio of 29.71 and a beta of 1.23. Micron Technology, Inc. has a 52 week low of $83.54 and a 52 week high of $157.54.

Micron Technology (NASDAQ:MU) last issued its quarterly earnings data on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 EPS 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 analyst estimates of $8.71 billion. During the same quarter in the prior year, the firm earned ($0.95) EPS. The company’s revenue was up 84.3% on a year-over-year basis. Equities research analysts forecast that Micron Technology, Inc. will post 6.08 earnings per share for the current fiscal year.

Micron Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Monday, December 30th were issued a dividend of $0.115 per share. The ex-dividend date of this dividend was Monday, December 30th. This represents a $0.46 annualized dividend and a yield of 0.45%. Micron Technology’s dividend payout ratio is currently 13.26%.

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.