Norden Group LLC Invests $212,000 in Micron Technology, Inc. (NASDAQ:MU)

Norden Group LLC purchased a new stake in Micron Technology, Inc. (NASDAQ:MU) during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 2,486 shares of the semiconductor manufacturer’s stock, valued at approximately $212,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in MU. Kestra Private Wealth Services LLC boosted its stake in Micron Technology by 2.9% during the 4th quarter. Kestra Private Wealth Services LLC now owns 77,854 shares of the semiconductor manufacturer’s stock worth $6,644,000 after purchasing an additional 2,196 shares during the last quarter. Van ECK Associates Corp boosted its position in Micron Technology by 19.3% during the fourth quarter. Van ECK Associates Corp now owns 5,870,696 shares of the semiconductor manufacturer’s stock worth $501,005,000 after acquiring an additional 951,286 shares during the last quarter. Adell Harriman & Carpenter Inc. grew its stake in Micron Technology by 2.8% during the 4th quarter. Adell Harriman & Carpenter Inc. now owns 36,945 shares of the semiconductor manufacturer’s stock valued at $3,153,000 after acquiring an additional 1,015 shares in the last quarter. Intrust Bank NA raised its holdings in Micron Technology by 3.3% in the 4th quarter. Intrust Bank NA now owns 21,382 shares of the semiconductor manufacturer’s stock valued at $1,825,000 after acquiring an additional 686 shares during the last quarter. Finally, EWA LLC purchased a new position in Micron Technology in the fourth quarter worth approximately $206,000. Hedge funds and other institutional investors own 80.84% of the company’s stock.

Wall Street Analysts Forecast Growth

MU has been the topic of several recent analyst reports. Rosenblatt Securities reaffirmed a “buy” rating and issued a $140.00 price target on shares of Micron Technology in a research note on Monday, March 18th. Bank of America increased their target price on shares of Micron Technology from $120.00 to $144.00 and gave the stock a “buy” rating in a research note on Monday, April 1st. Stifel Nicolaus reissued a “buy” rating and issued a $140.00 price target on shares of Micron Technology in a research note on Friday, April 12th. Morgan Stanley increased their price objective on shares of Micron Technology from $78.00 to $98.00 and gave the stock an “underweight” rating in a research report on Thursday, March 21st. Finally, Wedbush boosted their target price on Micron Technology from $103.00 to $130.00 and gave the company an “outperform” rating in a research report on Thursday, March 21st. One analyst has rated the stock with a sell rating, two have given a hold rating and twenty-four have assigned a buy rating to the company. Based on data from MarketBeat.com, Micron Technology has a consensus rating of “Moderate Buy” and a consensus target price of $122.20.

Micron Technology Trading Down 2.9 %

MU stock opened at $109.70 on Thursday. The company has a debt-to-equity ratio of 0.30, a current ratio of 3.74 and a quick ratio of 2.40. Micron Technology, Inc. has a twelve month low of $59.55 and a twelve month high of $130.54. The company’s 50 day moving average is $107.85 and its two-hundred day moving average is $89.19.

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

Micron Technology Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 16th. Investors of record on Monday, April 1st were paid a dividend of $0.115 per share. The ex-dividend date was Thursday, March 28th. This represents a $0.46 dividend on an annualized basis and a yield of 0.42%. Micron Technology’s dividend payout ratio is presently -13.33%.

Insiders Place Their Bets

In other news, CEO Sanjay Mehrotra sold 7,000 shares of the stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $111.93, for a total value of $783,510.00. Following the completion of the sale, the chief executive officer now directly owns 719,049 shares of the company’s stock, valued at $80,483,154.57. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Micron Technology news, CEO Sanjay Mehrotra sold 7,000 shares of Micron Technology stock in a transaction on Tuesday, April 23rd. The shares were sold at an average price of $111.93, for a total value of $783,510.00. Following the transaction, the chief executive officer now directly owns 719,049 shares in the company, valued at $80,483,154.57. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP April S. Arnzen sold 4,890 shares of the 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 owns 148,817 shares of the company’s stock, valued at approximately $17,753,868.10. The disclosure for this sale can be found here. Insiders have sold a total of 261,890 shares of company stock valued at $29,129,527 over the last quarter. Company insiders own 0.32% of the company’s stock.

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.