Ewa LLC Invests $206,000 in Micron Technology, Inc. (NASDAQ:MU)

Ewa LLC purchased a new position in shares of Micron Technology, Inc. (NASDAQ:MU) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 2,379 shares of the semiconductor manufacturer’s stock, valued at approximately $206,000.

Other institutional investors have also modified their holdings of the company. Exchange Traded Concepts LLC raised its holdings in Micron Technology by 411.2% in the 3rd quarter. Exchange Traded Concepts LLC now owns 4,657 shares of the semiconductor manufacturer’s stock valued at $317,000 after buying an additional 3,746 shares during the period. Valeo Financial Advisors LLC raised its holdings in Micron Technology by 78.9% in the 3rd quarter. Valeo Financial Advisors LLC now owns 10,124 shares of the semiconductor manufacturer’s stock valued at $689,000 after buying an additional 4,465 shares during the period. Avestar Capital LLC purchased a new stake in Micron Technology in the 3rd quarter valued at about $213,000. Compagnie Lombard Odier SCmA raised its holdings in Micron Technology by 28.2% in the 3rd quarter. Compagnie Lombard Odier SCmA now owns 4,548 shares of the semiconductor manufacturer’s stock valued at $309,000 after buying an additional 1,000 shares during the period. Finally, Aquila Investment Management LLC raised its holdings in Micron Technology by 33.3% in the 3rd quarter. Aquila Investment Management LLC now owns 36,000 shares of the semiconductor manufacturer’s stock valued at $2,449,000 after buying an additional 9,000 shares during the period. Hedge funds and other institutional investors own 80.84% of the company’s stock.

Insider Transactions at Micron Technology

In related news, EVP April S. Arnzen sold 4,890 shares of the firm’s stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $119.30, for a total transaction of $583,377.00. Following the sale, the executive vice president now directly owns 148,817 shares in the company, valued at approximately $17,753,868.10. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, EVP April S. Arnzen sold 4,890 shares of the firm’s stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $119.30, for a total transaction of $583,377.00. Following the sale, the executive vice president now directly owns 148,817 shares in the company, valued at approximately $17,753,868.10. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Sanjay Mehrotra sold 7,000 shares of the firm’s stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $111.93, for a total value of $783,510.00. Following the sale, the chief executive officer now owns 719,049 shares in the company, valued at $80,483,154.57. The disclosure for this sale can be found here. Insiders have sold a total of 268,890 shares of company stock worth $29,738,667 in the last three months. 0.32% of the stock is currently owned by company insiders.

Micron Technology Trading Down 0.7 %

NASDAQ MU traded down $0.82 during trading hours on Monday, hitting $114.02. 9,425,420 shares of the company’s stock were exchanged, compared to its average volume of 20,421,184. The business’s 50 day moving average is $105.94 and its 200-day moving average is $88.43. Micron Technology, Inc. has a 12-month low of $59.55 and a 12-month high of $130.54. The firm has a market capitalization of $126.26 billion, a P/E ratio of -32.94 and a beta of 1.27. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.40 and a current ratio of 3.74.

Micron Technology (NASDAQ:MU) last released its earnings results on Wednesday, March 20th. The semiconductor manufacturer reported $0.42 earnings per share for the quarter, topping the consensus estimate of ($0.27) by $0.69. Micron Technology had a negative return on equity of 8.98% and a negative net margin of 20.57%. The firm had revenue of $5.82 billion for the quarter, compared to the consensus estimate of $5.35 billion. During the same period in the prior year, the business posted ($2.03) earnings per share. The firm’s revenue for the quarter was up 57.7% compared to the same quarter last year. As a group, analysts anticipate that Micron Technology, Inc. will post 0.24 EPS for the current fiscal year.

Micron Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 16th. Stockholders of record on Monday, April 1st were issued a $0.115 dividend. The ex-dividend date of this dividend was Thursday, March 28th. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.40%. Micron Technology’s dividend payout ratio (DPR) is -13.33%.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. JPMorgan Chase & Co. lifted their target price on Micron Technology from $105.00 to $130.00 and gave the company an “overweight” rating in a research report on Thursday, March 21st. Rosenblatt Securities reiterated a “buy” rating and issued a $140.00 price objective on shares of Micron Technology in a research note on Monday, March 18th. Cantor Fitzgerald boosted their price objective on Micron Technology from $135.00 to $150.00 and gave the company an “overweight” rating in a research note on Monday, April 8th. Raymond James boosted their price objective on Micron Technology from $90.00 to $100.00 and gave the company an “outperform” rating in a research note on Friday, January 19th. Finally, Robert W. Baird boosted their price objective on Micron Technology from $78.00 to $115.00 and gave the company a “neutral” rating in a research note on Tuesday, March 19th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and twenty-four have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $122.20.

About Micron Technology

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.