CHURCHILL MANAGEMENT Corp Purchases New Holdings in Micron Technology, Inc. (NASDAQ:MU)

CHURCHILL MANAGEMENT Corp purchased a new stake in Micron Technology, Inc. (NASDAQ:MU) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 114,333 shares of the semiconductor manufacturer’s stock, valued at approximately $9,622,000.

Several other large investors have also recently added to or reduced their stakes in the company. Stonebrook Private Inc. raised its stake in shares of Micron Technology by 4.2% in the 3rd quarter. Stonebrook Private Inc. now owns 2,454 shares of the semiconductor manufacturer’s stock valued at $255,000 after purchasing an additional 98 shares during the period. John G Ullman & Associates Inc. raised its holdings in shares of Micron Technology by 2.5% during the 3rd quarter. John G Ullman & Associates Inc. now owns 4,063 shares of the semiconductor manufacturer’s stock worth $421,000 after buying an additional 100 shares in the last quarter. Trust Co. of Vermont boosted its holdings in shares of Micron Technology by 14.3% during the 3rd quarter. Trust Co. of Vermont now owns 821 shares of the semiconductor manufacturer’s stock valued at $85,000 after acquiring an additional 103 shares in the last quarter. PDS Planning Inc raised its position in shares of Micron Technology by 2.4% during the third quarter. PDS Planning Inc now owns 4,382 shares of the semiconductor manufacturer’s stock worth $454,000 after acquiring an additional 104 shares during the last quarter. Finally, Legacy Financial Advisors Inc. lifted its stake in Micron Technology by 5.3% in the second quarter. Legacy Financial Advisors Inc. now owns 2,357 shares of the semiconductor manufacturer’s stock valued at $310,000 after buying an additional 118 shares during the period. 80.84% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

MU has been the subject of several analyst reports. Morgan Stanley decreased their price objective on shares of Micron Technology from $114.00 to $98.00 and set an “equal weight” rating for the company in a research note on Thursday, December 19th. Raymond James lifted their target price on shares of Micron Technology from $125.00 to $140.00 and gave the company an “outperform” rating in a research report on Thursday, September 26th. Wells Fargo & Company reduced their price target on Micron Technology from $175.00 to $140.00 and set an “overweight” rating on the stock in a research report on Thursday, December 19th. Needham & Company LLC decreased their target price on Micron Technology from $140.00 to $120.00 and set a “buy” rating for the company in a research report on Thursday, December 19th. Finally, Stifel Nicolaus dropped their price target on Micron Technology from $135.00 to $130.00 and set a “buy” rating on the stock in a research note on Thursday, December 19th. One 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 data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $135.24.

Micron Technology Stock Performance

MU opened at $103.19 on Thursday. Micron Technology, Inc. has a 12-month low of $79.15 and a 12-month high of $157.54. The stock has a market cap of $114.97 billion, a price-to-earnings ratio of 151.75 and a beta of 1.18. The business has a 50 day moving average of $98.39 and a 200-day moving average of $102.65. The company has a quick ratio of 1.68, a current ratio of 2.64 and a debt-to-equity ratio of 0.29.

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

Micron Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Monday, December 30th were paid a $0.115 dividend. The ex-dividend date of this dividend was Monday, December 30th. This represents a $0.46 annualized dividend and a yield of 0.45%. Micron Technology’s payout ratio is 13.26%.

Insider Activity

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

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.