Napatree Capital LLC Purchases New Holdings in Micron Technology, Inc. (NASDAQ:MU)

Napatree Capital LLC acquired a new position in Micron Technology, Inc. (NASDAQ:MU) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 8,012 shares of the semiconductor manufacturer’s stock, valued at approximately $684,000.

Several other large investors have also modified their holdings of the business. Norges Bank purchased a new stake in Micron Technology in the 4th quarter valued at about $769,372,000. FMR LLC raised its stake in shares of Micron Technology by 47.9% during the third quarter. FMR LLC now owns 21,899,184 shares of the semiconductor manufacturer’s stock valued at $1,489,801,000 after acquiring an additional 7,089,790 shares in the last quarter. Wellington Management Group LLP boosted its holdings in shares of Micron Technology by 43.4% in the third quarter. Wellington Management Group LLP now owns 17,383,628 shares of the semiconductor manufacturer’s stock valued at $1,182,608,000 after purchasing an additional 5,257,201 shares during the period. Morgan Stanley grew its stake in Micron Technology by 19.7% in the third quarter. Morgan Stanley now owns 17,303,400 shares of the semiconductor manufacturer’s stock worth $1,177,151,000 after purchasing an additional 2,852,688 shares in the last quarter. Finally, California Public Employees Retirement System grew its stake in Micron Technology by 125.0% in the fourth quarter. California Public Employees Retirement System now owns 4,541,662 shares of the semiconductor manufacturer’s stock worth $387,585,000 after purchasing an additional 2,523,267 shares in the last quarter. Hedge funds and other institutional investors own 80.84% of the company’s stock.

Insider Buying and Selling at Micron Technology

In other news, EVP April S. Arnzen sold 4,890 shares of the stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $119.30, for a total value of $583,377.00. Following the sale, the executive vice president now owns 148,817 shares in the company, valued at $17,753,868.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Micron Technology news, EVP Scott J. Deboer sold 40,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $110.31, for a total value of $4,412,400.00. Following the completion of the transaction, the executive vice president now directly owns 158,617 shares of the company’s stock, valued at $17,497,041.27. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP April S. Arnzen sold 4,890 shares of the firm’s stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $119.30, for a total transaction of $583,377.00. Following the sale, the executive vice president now directly owns 148,817 shares in the company, valued at approximately $17,753,868.10. The disclosure for this sale can be found here. In the last ninety days, insiders sold 365,446 shares of company stock worth $43,826,633. Company insiders own 0.32% of the company’s stock.

Micron Technology Price Performance

Shares of MU opened at $151.81 on Tuesday. The company has a debt-to-equity ratio of 0.30, a current ratio of 3.74 and a quick ratio of 2.40. The company’s fifty day moving average price is $123.99 and its 200-day moving average price is $102.27. Micron Technology, Inc. has a 1-year low of $60.50 and a 1-year high of $151.81. The firm has a market capitalization of $168.11 billion, a PE ratio of -42.85 and a beta of 1.21.

Micron Technology (NASDAQ:MU) last posted its quarterly earnings results on Wednesday, March 20th. The semiconductor manufacturer reported $0.42 earnings per share for the quarter, beating the consensus estimate of ($0.27) by $0.69. Micron Technology had a negative return on equity of 8.98% and a negative net margin of 20.57%. The business had revenue of $5.82 billion for the quarter, compared to the consensus estimate of $5.35 billion. During the same quarter in the previous year, the business earned ($2.03) EPS. The company’s quarterly revenue was up 57.7% compared to the same quarter last year. On average, equities research analysts predict that Micron Technology, Inc. will post 0.29 EPS for the current year.

Micron Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 16th. Shareholders of record on Monday, April 1st were given a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a yield of 0.30%. The ex-dividend date of this dividend was Thursday, March 28th. Micron Technology’s dividend payout ratio is presently -13.33%.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Wells Fargo & Company upped their target price on Micron Technology from $125.00 to $135.00 and gave the stock an “overweight” rating in a report on Thursday, March 21st. JPMorgan Chase & Co. upped their price objective on shares of Micron Technology from $105.00 to $130.00 and gave the stock an “overweight” rating in a research note on Thursday, March 21st. Wedbush raised their target price on shares of Micron Technology from $130.00 to $170.00 and gave the company an “outperform” rating in a research report on Tuesday. Stifel Nicolaus upped their price target on shares of Micron Technology from $140.00 to $165.00 and gave the stock a “buy” rating in a research report on Tuesday. Finally, UBS Group increased their price objective on shares of Micron Technology from $125.00 to $155.00 and gave the company a “buy” rating in a research note on Monday, June 10th. Two research analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $137.92.

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.