Ring Mountain Capital LLC Acquires New Shares in Micron Technology, Inc. (NASDAQ:MU)

Ring Mountain Capital LLC bought a new position in shares of Micron Technology, Inc. (NASDAQ:MU) in the fourth quarter, HoldingsChannel.com reports. The firm bought 7,814 shares of the semiconductor manufacturer’s stock, valued at approximately $658,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of MU. Stonebrook Private Inc. increased its holdings in shares of Micron Technology by 4.2% in the third quarter. Stonebrook Private Inc. now owns 2,454 shares of the semiconductor manufacturer’s stock worth $255,000 after purchasing an additional 98 shares during the period. John G Ullman & Associates Inc. increased its stake in Micron Technology by 2.5% in the third quarter. John G Ullman & Associates Inc. now owns 4,063 shares of the semiconductor manufacturer’s stock valued at $421,000 after acquiring an additional 100 shares during the last quarter. Trivant Custom Portfolio Group LLC boosted its position in Micron Technology by 20.0% during the fourth quarter. Trivant Custom Portfolio Group LLC now owns 600 shares of the semiconductor manufacturer’s stock valued at $50,000 after buying an additional 100 shares during the period. PDS Planning Inc boosted its position in Micron Technology by 2.4% during the third quarter. PDS Planning Inc now owns 4,382 shares of the semiconductor manufacturer’s stock valued at $454,000 after buying an additional 104 shares during the period. Finally, Xcel Wealth Management LLC boosted its holdings in shares of Micron Technology by 1.8% during the fourth quarter. Xcel Wealth Management LLC now owns 6,157 shares of the semiconductor manufacturer’s stock worth $518,000 after purchasing an additional 108 shares during the period. Institutional investors and hedge funds own 80.84% of the company’s stock.

Micron Technology Trading Down 3.3 %

Shares of Micron Technology stock opened at $90.54 on Tuesday. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.72 and a quick ratio of 1.75. Micron Technology, Inc. has a 1-year low of $83.54 and a 1-year high of $157.54. The company’s fifty day simple moving average is $95.77 and its 200-day simple moving average is $98.75. The stock has a market capitalization of $100.88 billion, a PE ratio of 26.09 and a beta of 1.18.

Micron Technology (NASDAQ:MU) last released its earnings results on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 earnings per share for the quarter, beating analysts’ consensus estimates of $1.60 by $0.19. Micron Technology had a net margin of 13.34% and a return on equity of 8.32%. The company had revenue of $8.71 billion for the quarter, compared to analysts’ expectations of $8.71 billion. During the same quarter in the previous year, the company earned ($0.95) EPS. Micron Technology’s revenue for the quarter was up 84.3% on a year-over-year basis. As a group, equities analysts anticipate that Micron Technology, Inc. will post 6.08 earnings per share for the current year.

Micron Technology Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Monday, December 30th were paid a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.51%. The ex-dividend date of this dividend was Monday, December 30th. Micron Technology’s dividend payout ratio (DPR) is 13.26%.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. Piper Sandler decreased their price target on shares of Micron Technology from $150.00 to $120.00 and set an “overweight” rating for the company in a research note on Thursday, December 19th. Wedbush reaffirmed an “outperform” rating and set a $140.00 target price on shares of Micron Technology in a research note on Tuesday, December 17th. Bank of America downgraded shares of Micron Technology from a “buy” rating to a “neutral” rating and decreased their target price for the company from $125.00 to $110.00 in a research note on Thursday, December 19th. JPMorgan Chase & Co. decreased their target price on shares of Micron Technology from $180.00 to $145.00 and set an “overweight” rating for the company in a research note on Thursday, December 19th. Finally, UBS Group decreased their target price on shares of Micron Technology from $135.00 to $125.00 and set a “buy” rating for the company in a research note on Thursday, December 19th. One analyst has rated the stock with a sell rating, three have given a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $134.96.

Insider Activity at Micron Technology

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of Micron Technology stock in a transaction on Friday, December 20th. The shares were sold at an average price of $85.21, for a total value of $416,676.90. Following the sale, the executive vice president now directly owns 181,223 shares in the company, valued at approximately $15,442,011.83. The trade was a 2.63 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.30% of the stock is owned by corporate 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.