Sapient Capital LLC Takes Position in Micron Technology, Inc. (NASDAQ:MU)

Sapient Capital LLC purchased a new position in shares of Micron Technology, Inc. (NASDAQ:MU) during the 4th quarter, HoldingsChannel reports. The institutional investor purchased 3,410 shares of the semiconductor manufacturer’s stock, valued at approximately $291,000.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Sei Investments Co. boosted its holdings in Micron Technology by 12.8% during the first quarter. Sei Investments Co. now owns 350,644 shares of the semiconductor manufacturer’s stock worth $27,314,000 after buying an additional 39,693 shares during the last quarter. Prudential PLC acquired a new position in Micron Technology during the first quarter valued at approximately $1,672,000. Brighton Jones LLC increased its stake in Micron Technology by 12.3% in the first quarter. Brighton Jones LLC now owns 2,909 shares of the semiconductor manufacturer’s stock valued at $227,000 after purchasing an additional 318 shares in the last quarter. Baird Financial Group Inc. raised its holdings in Micron Technology by 9.2% in the first quarter. Baird Financial Group Inc. now owns 200,423 shares of the semiconductor manufacturer’s stock worth $15,611,000 after purchasing an additional 16,953 shares during the period. Finally, Zions Bancorporation N.A. boosted its position in shares of Micron Technology by 52.5% during the first quarter. Zions Bancorporation N.A. now owns 2,121 shares of the semiconductor manufacturer’s stock worth $165,000 after purchasing an additional 730 shares in the last quarter. Institutional investors own 80.84% of the company’s stock.

Micron Technology Stock Down 0.9 %

Micron Technology stock opened at $121.37 on Tuesday. The company has a debt-to-equity ratio of 0.30, a current ratio of 3.74 and a quick ratio of 2.40. The company’s 50-day moving average is $100.62 and its 200-day moving average is $85.63. The firm has a market capitalization of $134.40 billion, a PE ratio of -35.18 and a beta of 1.27. Micron Technology, Inc. has a fifty-two week low of $58.03 and a fifty-two week high of $130.54.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings results on Wednesday, March 20th. The semiconductor manufacturer reported $0.42 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.69. Micron Technology had a negative return on equity of 8.98% and a negative net margin of 20.57%. The firm had revenue of $5.82 billion for the quarter, compared to the consensus estimate of $5.35 billion. During the same quarter in the previous year, the business earned ($2.03) earnings per share. The business’s revenue was up 57.7% compared to the same quarter last year. Sell-side 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 disclosed a quarterly dividend, which will be paid on Tuesday, April 16th. Shareholders of record on Monday, April 1st will be issued a $0.115 dividend. The ex-dividend date of this dividend is Thursday, March 28th. This represents a $0.46 annualized dividend and a dividend yield of 0.38%. Micron Technology’s dividend payout ratio is currently -13.33%.

Insider Transactions at Micron Technology

In other news, CEO Sanjay Mehrotra sold 7,000 shares of the company’s stock in a transaction that occurred on Tuesday, April 9th. The stock was sold at an average price of $122.60, for a total value of $858,200.00. Following the transaction, the chief executive officer now owns 728,557 shares of the company’s stock, valued at $89,321,088.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of Micron Technology stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $119.30, for a total value of $583,377.00. Following the completion of the sale, the executive vice president now owns 148,817 shares in the company, valued at approximately $17,753,868.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Sanjay Mehrotra sold 7,000 shares of the business’s stock in a transaction dated Tuesday, April 9th. The shares were sold at an average price of $122.60, for a total transaction of $858,200.00. Following the completion of the sale, the chief executive officer now directly owns 728,557 shares of the company’s stock, valued at approximately $89,321,088.20. The disclosure for this sale can be found here. In the last 90 days, insiders sold 313,890 shares of company stock worth $33,354,527. 0.32% of the stock is owned by insiders.

Analysts Set New Price Targets

Several brokerages recently commented on MU. JPMorgan Chase & Co. raised their price objective on Micron Technology from $105.00 to $130.00 and gave the stock an “overweight” rating in a research note on Thursday, March 21st. Robert W. Baird boosted their price objective on Micron Technology from $78.00 to $115.00 and gave the company a “neutral” rating in a research report on Tuesday, March 19th. Deutsche Bank Aktiengesellschaft raised their target price on shares of Micron Technology from $85.00 to $90.00 and gave the stock a “buy” rating in a report on Thursday, December 21st. Bank of America raised their price objective on shares of Micron Technology from $120.00 to $144.00 and gave the stock a “buy” rating in a report on Monday, April 1st. Finally, BMO Capital Markets increased their target price on Micron Technology from $80.00 to $90.00 and gave the stock an “outperform” rating in a report on Monday, December 18th. One analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-four have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $122.20.

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.