Oak Thistle LLC Increases Stake in Micron Technology, Inc. (NASDAQ:MU)

Oak Thistle LLC lifted its stake in shares of Micron Technology, Inc. (NASDAQ:MU) by 89.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 13,266 shares of the semiconductor manufacturer’s stock after buying an additional 6,252 shares during the quarter. Oak Thistle LLC’s holdings in Micron Technology were worth $1,116,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently modified their holdings of the company. Highline Wealth Partners LLC purchased a new position in shares of Micron Technology during the third quarter valued at about $26,000. Davis Capital Management purchased a new stake in Micron Technology in the third quarter worth about $30,000. True Wealth Design LLC grew its holdings in Micron Technology by 1,096.3% in the third quarter. True Wealth Design LLC now owns 323 shares of the semiconductor manufacturer’s stock worth $33,000 after purchasing an additional 296 shares during the period. DT Investment Partners LLC grew its holdings in Micron Technology by 261.1% in the third quarter. DT Investment Partners LLC now owns 325 shares of the semiconductor manufacturer’s stock worth $34,000 after purchasing an additional 235 shares during the period. Finally, Stone House Investment Management LLC grew its holdings in Micron Technology by 602.2% in the third quarter. Stone House Investment Management LLC now owns 323 shares of the semiconductor manufacturer’s stock worth $34,000 after purchasing an additional 277 shares during the period. Hedge funds and other institutional investors own 80.84% of the company’s stock.

Micron Technology Trading Up 2.4 %

Shares of Micron Technology stock opened at $97.36 on Wednesday. The company has a market capitalization of $108.46 billion, a P/E ratio of 143.18 and a beta of 1.16. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.68 and a current ratio of 2.64. The company has a fifty day moving average of $98.39 and a 200 day moving average of $102.65. Micron Technology, Inc. has a fifty-two week low of $79.15 and a fifty-two week high of $157.54.

Micron Technology (NASDAQ:MU) last issued its earnings results on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 earnings per share for the quarter, topping the consensus estimate of $1.60 by $0.19. The company had revenue of $8.71 billion during the quarter, compared to the consensus estimate of $8.71 billion. Micron Technology had a net margin of 3.10% and a return on equity of 1.58%. Micron Technology’s quarterly revenue was up 84.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.95) EPS. On average, sell-side analysts anticipate that Micron Technology, Inc. will post 8.31 earnings per share for the current fiscal year.

Micron Technology Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Monday, December 30th will be issued a $0.115 dividend. This represents a $0.46 annualized dividend and a yield of 0.47%. The ex-dividend date is Monday, December 30th. Micron Technology’s dividend payout ratio is currently 67.65%.

Insider Buying and Selling at Micron Technology

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of the stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $85.21, for a total transaction of $416,676.90. Following the completion of the transaction, the executive vice president now owns 181,223 shares of the company’s stock, valued at $15,442,011.83. This represents a 2.63 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.30% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on MU shares. Morgan Stanley cut their price objective on shares of Micron Technology from $114.00 to $98.00 and set an “equal weight” rating on the stock in a report on Thursday, December 19th. JPMorgan Chase & Co. cut their price objective on shares of Micron Technology from $180.00 to $145.00 and set an “overweight” rating on the stock in a report on Thursday, December 19th. Cantor Fitzgerald dropped their target price on shares of Micron Technology from $150.00 to $130.00 and set an “overweight” rating on the stock in a research note on Thursday, December 19th. Susquehanna dropped their target price on shares of Micron Technology from $175.00 to $165.00 and set a “positive” rating on the stock in a research note on Thursday, September 26th. Finally, The Goldman Sachs Group dropped their target price on shares of Micron Technology from $145.00 to $128.00 and set a “buy” rating on the stock in a research note on Thursday, December 19th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and twenty-three have given a buy rating to the stock. According to MarketBeat, Micron Technology presently has a consensus rating of “Moderate Buy” and a consensus target price of $135.24.

Micron Technology 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.