Kempner Capital Management Inc. Increases Stock Position in Micron Technology, Inc. (NASDAQ:MU)

Kempner Capital Management Inc. boosted its stake in Micron Technology, Inc. (NASDAQ:MU) by 16.8% in the third quarter, Holdings Channel reports. The firm owned 94,192 shares of the semiconductor manufacturer’s stock after purchasing an additional 13,581 shares during the quarter. Micron Technology accounts for about 5.0% of Kempner Capital Management Inc.’s investment portfolio, making the stock its largest position. Kempner Capital Management Inc.’s holdings in Micron Technology were worth $9,769,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. DecisionPoint Financial LLC acquired a new stake in shares of Micron Technology in the 1st quarter valued at $25,000. Hobbs Group Advisors LLC bought a new stake in shares of Micron Technology during the 2nd quarter worth $28,000. Valued Wealth Advisors LLC lifted its position in shares of Micron Technology by 230.7% during the 1st quarter. Valued Wealth Advisors LLC now owns 248 shares of the semiconductor manufacturer’s stock worth $29,000 after buying an additional 173 shares during the last quarter. Davis Capital Management acquired a new stake in Micron Technology in the third quarter valued at about $30,000. Finally, Richard W. Paul & Associates LLC grew its position in Micron Technology by 128.6% in the second quarter. Richard W. Paul & Associates LLC now owns 256 shares of the semiconductor manufacturer’s stock valued at $34,000 after acquiring an additional 144 shares during the last quarter. Institutional investors and hedge funds own 80.84% of the company’s stock.

Micron Technology Stock Down 2.3 %

Shares of NASDAQ MU traded down $2.54 during trading on Tuesday, hitting $106.54. 5,869,453 shares of the company traded hands, compared to its average volume of 22,168,266. The firm has a market capitalization of $118.14 billion, a price-to-earnings ratio of -75.20 and a beta of 1.18. The business’s fifty day moving average is $98.93 and its 200 day moving average is $114.28. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.68 and a current ratio of 2.64. Micron Technology, Inc. has a fifty-two week low of $63.88 and a fifty-two week high of $157.54.

Micron Technology (NASDAQ:MU) last posted its quarterly earnings results on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 earnings per share for the quarter, topping analysts’ consensus estimates of $0.97 by $0.21. Micron Technology had a return on equity of 1.58% and a net margin of 3.10%. The business had revenue of $7.75 billion for the quarter, compared to the consensus estimate of $7.65 billion. During the same period in the prior year, the business earned ($1.21) EPS. The firm’s revenue for the quarter was up 93.3% on a year-over-year basis. Equities research analysts predict that Micron Technology, Inc. will post 8.31 earnings per share for the current fiscal year.

Micron Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 23rd. Shareholders of record on Monday, October 7th will be given a $0.115 dividend. This represents a $0.46 annualized dividend and a yield of 0.43%. The ex-dividend date is Monday, October 7th. Micron Technology’s dividend payout ratio is -32.39%.

Insider Buying and Selling at Micron Technology

In related news, EVP April S. Arnzen sold 4,890 shares of Micron Technology stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $113.00, for a total value of $552,570.00. Following the completion of the sale, the executive vice president now owns 135,830 shares of the company’s stock, valued at approximately $15,348,790. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.32% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. JPMorgan Chase & Co. upped their price objective on shares of Micron Technology from $130.00 to $180.00 and gave the stock an “overweight” rating in a research report on Thursday, June 27th. Wedbush reiterated an “outperform” rating and set a $140.00 price target on shares of Micron Technology in a report on Thursday, September 26th. Cantor Fitzgerald reissued an “overweight” rating and set a $150.00 price objective on shares of Micron Technology in a report on Tuesday, October 1st. Rosenblatt Securities upped their target price on Micron Technology from $225.00 to $250.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. Finally, The Goldman Sachs Group upped their price objective on Micron Technology from $138.00 to $158.00 and gave the company a “buy” rating in a research note on Thursday, June 27th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-five have issued a buy rating to the company. According to MarketBeat.com, Micron Technology presently has a consensus rating of “Moderate Buy” and a consensus target price of $142.85.

Micron Technology Company 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.