Syon Capital LLC Grows Holdings in Micron Technology, Inc. (NASDAQ:MU)

Syon Capital LLC boosted its stake in Micron Technology, Inc. (NASDAQ:MU) by 44.8% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 10,655 shares of the semiconductor manufacturer’s stock after purchasing an additional 3,295 shares during the period. Syon Capital LLC’s holdings in Micron Technology were worth $909,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Exchange Traded Concepts LLC lifted its position in shares of Micron Technology by 411.2% during the third quarter. Exchange Traded Concepts LLC now owns 4,657 shares of the semiconductor manufacturer’s stock worth $317,000 after purchasing an additional 3,746 shares in the last quarter. CX Institutional boosted its position in Micron Technology by 4.4% in the 3rd quarter. CX Institutional now owns 6,370 shares of the semiconductor manufacturer’s stock valued at $433,000 after buying an additional 271 shares during the period. Czech National Bank grew its stake in shares of Micron Technology by 47.7% in the third quarter. Czech National Bank now owns 191,408 shares of the semiconductor manufacturer’s stock worth $13,021,000 after acquiring an additional 61,854 shares in the last quarter. Asset Management One Co. Ltd. increased its position in shares of Micron Technology by 0.4% during the third quarter. Asset Management One Co. Ltd. now owns 456,840 shares of the semiconductor manufacturer’s stock worth $31,079,000 after acquiring an additional 1,621 shares during the period. Finally, Handelsbanken Fonder AB raised its stake in shares of Micron Technology by 5.5% in the third quarter. Handelsbanken Fonder AB now owns 330,961 shares of the semiconductor manufacturer’s stock valued at $22,515,000 after acquiring an additional 17,287 shares in the last quarter. Hedge funds and other institutional investors own 80.84% of the company’s stock.

Insiders Place Their Bets

In other Micron Technology news, CEO Sanjay Mehrotra sold 7,000 shares of the business’s stock in a transaction dated Tuesday, April 23rd. The stock was sold at an average price of $111.93, for a total transaction of $783,510.00. Following the transaction, the chief executive officer now owns 719,049 shares in the company, valued at $80,483,154.57. The sale was disclosed in a legal filing with the SEC, which is available at 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 Tuesday, April 23rd. The stock was sold at an average price of $111.93, for a total transaction of $783,510.00. Following the completion of the sale, the chief executive officer now owns 719,049 shares in the company, valued at approximately $80,483,154.57. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP April S. Arnzen sold 4,890 shares of the firm’s stock in a transaction 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 transaction, the executive vice president now directly owns 148,817 shares of the company’s stock, valued at $17,753,868.10. The disclosure for this sale can be found here. Insiders have sold a total of 268,890 shares of company stock valued at $29,738,667 over the last quarter. Company insiders own 0.32% of the company’s stock.

Micron Technology Stock Performance

Shares of Micron Technology stock traded up $3.26 on Friday, reaching $114.84. 20,488,832 shares of the stock were exchanged, compared to its average volume of 20,552,070. The company has a current ratio of 3.74, a quick ratio of 2.40 and a debt-to-equity ratio of 0.30. The business has a fifty day moving average price of $105.24 and a two-hundred day moving average price of $87.85. Micron Technology, Inc. has a 1-year low of $59.55 and a 1-year high of $130.54. The firm has a market capitalization of $127.17 billion, a PE ratio of -32.79 and a beta of 1.27.

Micron Technology (NASDAQ:MU) last released its quarterly earnings data on Wednesday, March 20th. The semiconductor manufacturer reported $0.42 EPS for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.69. The firm had revenue of $5.82 billion for the quarter, compared to the consensus estimate of $5.35 billion. Micron Technology had a negative net margin of 20.57% and a negative return on equity of 8.98%. The firm’s revenue was up 57.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($2.03) earnings per share. As a group, research analysts anticipate that Micron Technology, Inc. will post 0.24 earnings per share for the current fiscal 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 issued a $0.115 dividend. The ex-dividend date of this dividend was Thursday, March 28th. This represents a $0.46 annualized dividend and a yield of 0.40%. Micron Technology’s dividend payout ratio (DPR) is presently -13.33%.

Wall Street Analysts Forecast Growth

MU has been the topic of a number of recent analyst reports. Barclays increased their price objective on shares of Micron Technology from $95.00 to $120.00 and gave the company an “overweight” rating in a research report on Monday, March 18th. UBS Group raised their price target on Micron Technology from $95.00 to $120.00 and gave the company a “buy” rating in a research note on Tuesday, March 19th. Argus raised Micron Technology from a “hold” rating to a “buy” rating and set a $140.00 price objective for the company in a research report on Thursday, March 21st. Wells Fargo & Company increased their price objective on Micron Technology from $125.00 to $135.00 and gave the company an “overweight” rating in a report on Thursday, March 21st. Finally, Robert W. Baird boosted their target price on Micron Technology from $78.00 to $115.00 and gave the stock a “neutral” rating in a research note on Tuesday, March 19th. One analyst has rated the stock with a sell rating, two have given a hold rating and twenty-four have assigned a buy rating to the company. Based on data from MarketBeat, Micron Technology currently has an average rating of “Moderate Buy” and a consensus price target of $122.20.

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.