Los Angeles Capital Management LLC Has $3.21 Million Stock Holdings in Micron Technology, Inc. (NASDAQ:MU)

Los Angeles Capital Management LLC grew its stake in shares of Micron Technology, Inc. (NASDAQ:MU) by 130.2% during the 4th quarter, Holdings Channel reports. The firm owned 37,586 shares of the semiconductor manufacturer’s stock after buying an additional 21,256 shares during the period. Los Angeles Capital Management LLC’s holdings in Micron Technology were worth $3,208,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in MU. Stratos Wealth Partners LTD. lifted its position in shares of Micron Technology by 10.2% in the third quarter. Stratos Wealth Partners LTD. now owns 14,636 shares of the semiconductor manufacturer’s stock valued at $996,000 after buying an additional 1,355 shares during the last quarter. Brown Advisory Inc. increased its holdings in shares of Micron Technology by 32.3% in the third quarter. Brown Advisory Inc. now owns 99,448 shares of the semiconductor manufacturer’s stock valued at $6,765,000 after purchasing an additional 24,277 shares during the last quarter. Lindbrook Capital LLC raised its position in shares of Micron Technology by 12.2% in the third quarter. Lindbrook Capital LLC now owns 4,150 shares of the semiconductor manufacturer’s stock valued at $282,000 after purchasing an additional 451 shares during the period. Pinnacle Wealth Management Advisory Group LLC boosted its holdings in shares of Micron Technology by 13.1% during the 3rd quarter. Pinnacle Wealth Management Advisory Group LLC now owns 4,411 shares of the semiconductor manufacturer’s stock worth $300,000 after buying an additional 510 shares during the period. Finally, Calamos Advisors LLC raised its holdings in Micron Technology by 9.7% in the 3rd quarter. Calamos Advisors LLC now owns 574,151 shares of the semiconductor manufacturer’s stock valued at $39,059,000 after acquiring an additional 50,618 shares during the period. Institutional investors own 80.84% of the company’s stock.

Analysts Set New Price Targets

MU has been the topic of a number of recent research reports. Wells Fargo & Company increased their target price on Micron Technology from $125.00 to $135.00 and gave the stock an “overweight” rating in a research note on Thursday, March 21st. Fox Advisors upgraded shares of Micron Technology from an “equal weight” rating to an “overweight” rating in a research note on Thursday, March 21st. Citigroup restated a “buy” rating and set a $150.00 target price on shares of Micron Technology in a research report on Thursday, April 4th. Raymond James increased their price target on Micron Technology from $90.00 to $100.00 and gave the stock an “outperform” rating in a research report on Friday, January 19th. Finally, StockNews.com upgraded Micron Technology from a “sell” rating to a “hold” rating in a research report on Friday, March 22nd. One investment analyst has rated the stock with a sell rating, two have given a hold rating and twenty-four have given a buy rating to the company’s stock. According to data from MarketBeat, Micron Technology has an average rating of “Moderate Buy” and a consensus price target of $122.20.

Micron Technology Stock Performance

NASDAQ:MU opened at $114.70 on Monday. The company has a market capitalization of $126.63 billion, a PE ratio of -33.25 and a beta of 1.27. Micron Technology, Inc. has a fifty-two week low of $59.55 and a fifty-two week high of $130.54. 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 50 day simple moving average of $108.95 and a two-hundred day simple moving average of $89.96.

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

Micron Technology Announces Dividend

The business 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. This represents a $0.46 dividend on an annualized basis and a yield of 0.40%. The ex-dividend date of this dividend was Thursday, March 28th. Micron Technology’s payout ratio is -13.33%.

Insider Activity

In other Micron Technology news, CEO Sanjay Mehrotra sold 7,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $82.03, for a total value of $574,210.00. Following the completion of the sale, the chief executive officer now owns 788,557 shares of the company’s stock, valued at $64,685,330.71. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Micron Technology news, CEO Sanjay Mehrotra sold 7,000 shares of the firm’s stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $82.03, for a total value of $574,210.00. Following the transaction, the chief executive officer now directly owns 788,557 shares of the company’s stock, valued at $64,685,330.71. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP April S. Arnzen sold 4,890 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at $17,753,868.10. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 323,890 shares of company stock worth $36,079,267. Company insiders own 0.32% of the company’s stock.

About Micron Technology

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.