BIT Capital GmbH Acquires 5,853 Shares of Micron Technology, Inc. (NASDAQ:MU)

BIT Capital GmbH increased its holdings in Micron Technology, Inc. (NASDAQ:MU) by 1.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 442,508 shares of the semiconductor manufacturer’s stock after buying an additional 5,853 shares during the period. Micron Technology accounts for 3.0% of BIT Capital GmbH’s investment portfolio, making the stock its 13th biggest position. BIT Capital GmbH’s holdings in Micron Technology were worth $37,241,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the business. Cerity Partners LLC increased its position in shares of Micron Technology by 58.6% during the third quarter. Cerity Partners LLC now owns 94,515 shares of the semiconductor manufacturer’s stock valued at $9,802,000 after buying an additional 34,938 shares during the period. Algert Global LLC grew its stake in Micron Technology by 349.4% during the third quarter. Algert Global LLC now owns 11,092 shares of the semiconductor manufacturer’s stock valued at $1,150,000 after acquiring an additional 8,624 shares in the last quarter. Larson Financial Group LLC grew its stake in Micron Technology by 885.5% during the third quarter. Larson Financial Group LLC now owns 1,360 shares of the semiconductor manufacturer’s stock valued at $141,000 after acquiring an additional 1,222 shares in the last quarter. Fisher Asset Management LLC increased its holdings in Micron Technology by 6.5% during the 3rd quarter. Fisher Asset Management LLC now owns 50,470 shares of the semiconductor manufacturer’s stock worth $5,234,000 after acquiring an additional 3,069 shares during the period. Finally, The Manufacturers Life Insurance Company lifted its stake in Micron Technology by 2.8% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 1,726,755 shares of the semiconductor manufacturer’s stock worth $179,113,000 after purchasing an additional 47,653 shares in the last quarter. 80.84% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Micron Technology

In other Micron Technology news, Director Mary Pat Mccarthy sold 2,404 shares of the firm’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $92.93, for a total transaction of $223,403.72. Following the completion of the transaction, the director now owns 27,358 shares of the company’s stock, valued at approximately $2,542,378.94. This trade represents a 8.08 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.30% of the stock is owned by company insiders.

Micron Technology Stock Performance

Shares of MU stock opened at $92.13 on Thursday. The company has a market capitalization of $102.65 billion, a P/E ratio of 26.55 and a beta of 1.23. Micron Technology, Inc. has a fifty-two week low of $83.54 and a fifty-two week high of $157.54. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.75 and a current ratio of 2.72. The stock has a 50 day moving average price of $96.58 and a two-hundred day moving average price of $98.41.

Micron Technology (NASDAQ:MU) last posted its quarterly earnings results on Thursday, March 20th. The semiconductor manufacturer reported $1.56 EPS for the quarter, beating analysts’ consensus estimates of $1.43 by $0.13. The company had revenue of $8.05 billion during the quarter, compared to analyst estimates of $7.93 billion. Micron Technology had a net margin of 13.34% and a return on equity of 8.32%. The firm’s revenue was up 38.2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.42 EPS. Analysts expect that Micron Technology, Inc. will post 6.08 earnings per share for the current year.

Micron Technology Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be paid a $0.115 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.46 annualized dividend and a dividend yield of 0.50%. Micron Technology’s payout ratio is presently 11.03%.

Analysts Set New Price Targets

Several brokerages have commented on MU. TD Cowen cut their price target on shares of Micron Technology from $135.00 to $125.00 and set a “buy” rating for the company in a report on Thursday, December 19th. China Renaissance cut Micron Technology from a “buy” rating to a “hold” rating and set a $84.00 target price for the company. in a research report on Wednesday. Sanford C. Bernstein decreased their target price on Micron Technology from $140.00 to $120.00 and set an “outperform” rating on the stock in a research note on Wednesday, December 18th. Mizuho dropped their price target on Micron Technology from $135.00 to $115.00 and set an “outperform” rating for the company in a research report on Thursday, December 19th. Finally, UBS Group upped their price objective on shares of Micron Technology from $125.00 to $130.00 and gave the stock a “buy” rating in a research report on Monday, March 17th. One research analyst has rated the stock with a sell rating, three have given a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $129.96.

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.