Tenere Capital LLC Invests $3.45 Million in Micron Technology, Inc. (NASDAQ:MU)

Tenere Capital LLC acquired a new stake in shares of Micron Technology, Inc. (NASDAQ:MUGet Rating) in the 1st quarter, Holdings Channel.com reports. The institutional investor acquired 39,100 shares of the semiconductor manufacturer’s stock, valued at approximately $3,449,000. Micron Technology accounts for about 2.0% of Tenere Capital LLC’s holdings, making the stock its 22nd largest position.

Other hedge funds have also recently made changes to their positions in the company. Concorde Financial Corp purchased a new stake in shares of Micron Technology during the 4th quarter valued at about $27,000. SOA Wealth Advisors LLC. raised its position in Micron Technology by 144.9% in the first quarter. SOA Wealth Advisors LLC. now owns 338 shares of the semiconductor manufacturer’s stock worth $26,000 after acquiring an additional 200 shares during the period. Vectors Research Management LLC boosted its stake in shares of Micron Technology by 60.3% during the 4th quarter. Vectors Research Management LLC now owns 372 shares of the semiconductor manufacturer’s stock worth $35,000 after acquiring an additional 140 shares during the last quarter. Core Alternative Capital grew its position in shares of Micron Technology by 912.5% during the 1st quarter. Core Alternative Capital now owns 405 shares of the semiconductor manufacturer’s stock valued at $32,000 after acquiring an additional 365 shares during the period. Finally, BDO Wealth Advisors LLC increased its stake in shares of Micron Technology by 46.7% in the 1st quarter. BDO Wealth Advisors LLC now owns 440 shares of the semiconductor manufacturer’s stock worth $34,000 after purchasing an additional 140 shares in the last quarter. 79.66% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Micron Technology

In other news, SVP Michael W. Bokan sold 16,600 shares of the stock in a transaction on Tuesday, August 16th. The shares were sold at an average price of $63.82, for a total value of $1,059,412.00. Following the sale, the senior vice president now owns 119,126 shares of the company’s stock, valued at $7,602,621.32. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.32% of the stock is owned by company insiders.

Analysts Set New Price Targets

MU has been the topic of a number of recent research reports. Rosenblatt Securities decreased their target price on Micron Technology from $165.00 to $100.00 and set a “buy” rating on the stock in a report on Friday, July 1st. Summit Insights downgraded Micron Technology from a “buy” rating to a “hold” rating in a research note on Sunday, June 12th. StockNews.com upgraded shares of Micron Technology from a “hold” rating to a “buy” rating in a research note on Wednesday. Citigroup dropped their price target on shares of Micron Technology from $80.00 to $75.00 and set a “buy” rating for the company in a research report on Wednesday, August 10th. Finally, Morgan Stanley downgraded shares of Micron Technology from an “equal weight” rating to an “underweight” rating and set a $56.00 price objective on the stock. in a research report on Friday, July 22nd. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and twenty-three have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $86.54.

Micron Technology Price Performance

MU stock opened at $57.44 on Friday. Micron Technology, Inc. has a 52 week low of $51.40 and a 52 week high of $98.45. The company has a quick ratio of 2.44, a current ratio of 3.24 and a debt-to-equity ratio of 0.14. The company has a fifty day simple moving average of $59.90 and a two-hundred day simple moving average of $67.47. The firm has a market capitalization of $63.36 billion, a P/E ratio of 6.55, a price-to-earnings-growth ratio of 0.79 and a beta of 1.30.

Micron Technology (NASDAQ:MUGet Rating) last released its quarterly earnings data on Thursday, June 30th. The semiconductor manufacturer reported $2.50 EPS for the quarter, beating the consensus estimate of $2.33 by $0.17. Micron Technology had a net margin of 30.61% and a return on equity of 21.91%. The business had revenue of $8.64 billion during the quarter, compared to analyst estimates of $8.66 billion. During the same quarter last year, the business earned $1.81 earnings per share. Micron Technology’s quarterly revenue was up 16.4% compared to the same quarter last year. Analysts anticipate that Micron Technology, Inc. will post 8 earnings per share for the current fiscal year.

Micron Technology Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 26th. Shareholders of record on Monday, July 11th were given a dividend of $0.115 per share. The ex-dividend date of this dividend was Friday, July 8th. This represents a $0.46 annualized dividend and a yield of 0.80%. This is a positive change from Micron Technology’s previous quarterly dividend of $0.10. Micron Technology’s dividend payout ratio (DPR) is 5.25%.

About Micron Technology

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Micron Technology, Inc designs, manufactures, and sells memory and storage products worldwide. The company operates through four segments: Compute and Networking Business Unit, Mobile Business Unit, Storage Business Unit, and Embedded Business Unit. It provides memory and storage technologies comprises DRAM products, which are dynamic random access memory semiconductor devices with low latency that provide high-speed data retrieval; NAND products that are non-volatile and re-writeable semiconductor storage devices; and NOR memory products, which are non-volatile re-writable semiconductor memory devices that provide fast read speeds under the Micron and Crucial brands, as well as through private labels.

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Institutional Ownership by Quarter for Micron Technology (NASDAQ:MU)

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