Mariner LLC Purchases 8,846 Shares of Micron Technology, Inc. (NASDAQ:MU)

Mariner LLC raised its position in shares of Micron Technology, Inc. (NASDAQ:MU) by 4.2% in the fourth quarter, Holdings Channel reports. The firm owned 220,722 shares of the semiconductor manufacturer’s stock after acquiring an additional 8,846 shares during the quarter. Mariner LLC’s holdings in Micron Technology were worth $18,576,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Beacon Capital Management LLC raised its position in Micron Technology by 114.9% in the 4th quarter. Beacon Capital Management LLC now owns 374 shares of the semiconductor manufacturer’s stock worth $31,000 after buying an additional 200 shares during the last quarter. Midwest Capital Advisors LLC purchased a new position in shares of Micron Technology during the fourth quarter valued at approximately $33,000. Activest Wealth Management raised its holdings in shares of Micron Technology by 583.3% during the fourth quarter. Activest Wealth Management now owns 410 shares of the semiconductor manufacturer’s stock valued at $34,000 after purchasing an additional 350 shares during the last quarter. Comprehensive Financial Planning Inc. PA bought a new position in Micron Technology during the fourth quarter valued at approximately $34,000. Finally, Curio Wealth LLC bought a new stake in Micron Technology in the 4th quarter worth approximately $34,000. 80.84% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Micron Technology

In other Micron Technology news, EVP April S. Arnzen sold 15,000 shares of the company’s stock in a transaction on Tuesday, March 25th. The stock was sold at an average price of $96.18, for a total value of $1,442,700.00. Following the transaction, the executive vice president now owns 164,769 shares of the company’s stock, valued at $15,847,482.42. This represents a 8.34 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Mary Pat Mccarthy sold 2,404 shares of Micron Technology stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $92.93, for a total value of $223,403.72. Following the sale, the director now owns 27,358 shares of the company’s stock, valued at approximately $2,542,378.94. This trade represents a 8.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.30% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on MU. Barclays increased their price target on Micron Technology from $110.00 to $115.00 and gave the company an “overweight” rating in a report on Friday, March 21st. Wedbush reiterated an “outperform” rating and issued a $125.00 price objective on shares of Micron Technology in a research note on Monday, March 17th. Robert W. Baird boosted their target price on shares of Micron Technology from $130.00 to $163.00 and gave the company an “outperform” rating in a research report on Friday, March 21st. UBS Group increased their price target on shares of Micron Technology from $125.00 to $130.00 and gave the stock a “buy” rating in a research report on Monday, March 17th. Finally, Needham & Company LLC cut their price objective on shares of Micron Technology from $140.00 to $120.00 and set a “buy” rating for the company in a research report on Thursday, December 19th. One research analyst has rated the stock with a sell rating, three have given a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Micron Technology currently has a consensus rating of “Moderate Buy” and an average price target of $129.36.

Micron Technology Stock Down 2.4 %

NASDAQ MU opened at $69.33 on Thursday. The stock has a 50 day moving average price of $89.28 and a 200-day moving average price of $96.38. Micron Technology, Inc. has a one year low of $61.54 and a one year high of $157.54. 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 company has a market capitalization of $77.48 billion, a P/E ratio of 19.98 and a beta of 1.18.

Micron Technology (NASDAQ:MU) last issued its quarterly earnings data on Thursday, March 20th. The semiconductor manufacturer reported $1.56 EPS for the quarter, topping analysts’ consensus estimates of $1.43 by $0.13. The business had revenue of $8.05 billion during the quarter, compared to analysts’ expectations of $7.93 billion. Micron Technology had a net margin of 13.34% and a return on equity of 8.32%. The business’s revenue was up 38.2% on a year-over-year basis. During the same period last year, the company posted $0.42 EPS. As a group, equities analysts predict that Micron Technology, Inc. will post 6.08 EPS for the current fiscal year.

Micron Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were paid a $0.115 dividend. This represents a $0.46 annualized dividend and a dividend yield of 0.66%. The ex-dividend date was Monday, March 31st. Micron Technology’s payout ratio is 11.03%.

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.