Oak Thistle LLC Purchases 6,252 Shares of Micron Technology, Inc. (NASDAQ:MU)

Oak Thistle LLC grew its position in shares of Micron Technology, Inc. (NASDAQ:MU) by 89.1% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor 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 & Exchange Commission.

Several other hedge funds have also recently modified their holdings of MU. Highline Wealth Partners LLC purchased a new stake in shares of Micron Technology during the 3rd quarter worth approximately $26,000. Davis Capital Management purchased a new stake in shares of Micron Technology during the 3rd quarter worth approximately $30,000. True Wealth Design LLC increased its stake in shares of Micron Technology by 1,096.3% during the 3rd 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 last quarter. DT Investment Partners LLC increased its stake in shares of Micron Technology by 261.1% during the 3rd 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 last quarter. Finally, Stone House Investment Management LLC increased its stake in shares of Micron Technology by 602.2% during the 3rd 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 last quarter. Institutional investors own 80.84% of the company’s stock.

Insiders Place Their Bets

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of the business’s stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $85.21, for a total value of $416,676.90. Following the transaction, the executive vice president now owns 181,223 shares in the company, valued at approximately $15,442,011.83. The trade was a 2.63 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.30% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on MU. KeyCorp decreased their price target on shares of Micron Technology from $145.00 to $135.00 and set an “overweight” rating for the company in a research note on Tuesday, October 8th. Bank of America lowered shares of Micron Technology from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $125.00 to $110.00 in a research note on Thursday, December 19th. The Goldman Sachs Group reduced their price objective on shares of Micron Technology from $145.00 to $128.00 and set a “buy” rating for the company in a research note on Thursday, December 19th. Raymond James lifted their price objective on shares of Micron Technology from $125.00 to $140.00 and gave the company an “outperform” rating in a research note on Thursday, September 26th. Finally, Needham & Company LLC reduced 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 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 issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $135.24.

Micron Technology Stock Performance

NASDAQ MU opened at $97.36 on Wednesday. Micron Technology, Inc. has a 52-week low of $79.15 and a 52-week high of $157.54. 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 market capitalization of $108.46 billion, a P/E ratio of 143.18 and a beta of 1.16. The company has a fifty day moving average of $98.39 and a 200-day moving average of $102.65.

Micron Technology (NASDAQ:MU) last posted its quarterly 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 business 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%. The firm’s revenue for the quarter was up 84.3% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.95) earnings per share. As a group, equities research analysts predict that Micron Technology, Inc. will post 8.31 EPS for the current fiscal year.

Micron Technology Announces Dividend

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

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.