AJOVista LLC Takes Position in Micron Technology, Inc. (NASDAQ:MU)

AJOVista LLC acquired a new stake in Micron Technology, Inc. (NASDAQ:MU) in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 1,050 shares of the semiconductor manufacturer’s stock, valued at approximately $90,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in Micron Technology by 0.3% in the third quarter. Vanguard Group Inc. now owns 94,229,187 shares of the semiconductor manufacturer’s stock worth $6,410,412,000 after purchasing an additional 305,860 shares during the last quarter. FMR LLC raised its stake in shares of Micron Technology by 47.9% in the third quarter. FMR LLC now owns 21,899,184 shares of the semiconductor manufacturer’s stock worth $1,489,801,000 after buying an additional 7,089,790 shares during the period. Wellington Management Group LLP raised its stake in shares of Micron Technology by 43.4% in the third quarter. Wellington Management Group LLP now owns 17,383,628 shares of the semiconductor manufacturer’s stock worth $1,182,608,000 after buying an additional 5,257,201 shares during the period. Morgan Stanley raised its stake in shares of Micron Technology by 19.7% in the third quarter. Morgan Stanley now owns 17,303,400 shares of the semiconductor manufacturer’s stock worth $1,177,151,000 after buying an additional 2,852,688 shares during the period. Finally, Northern Trust Corp raised its stake in shares of Micron Technology by 0.7% in the third quarter. Northern Trust Corp now owns 10,833,670 shares of the semiconductor manufacturer’s stock worth $737,015,000 after buying an additional 80,345 shares during the period. Institutional investors own 80.84% of the company’s stock.

Insider Buying and Selling

In related news, CEO Sanjay Mehrotra sold 45,000 shares of the stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $100.00, for a total value of $4,500,000.00. Following the completion of the transaction, the chief executive officer now directly owns 773,557 shares of the company’s stock, valued at approximately $77,355,700. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of the company’s stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $119.30, for a total value of $583,377.00. Following the completion of the sale, the executive vice president now directly owns 148,817 shares in the company, valued at $17,753,868.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Sanjay Mehrotra sold 45,000 shares of the business’s stock in a transaction on Friday, March 8th. The stock was sold at an average price of $100.00, for a total value of $4,500,000.00. Following the completion of the sale, the chief executive officer now directly owns 773,557 shares in the company, valued at approximately $77,355,700. The disclosure for this sale can be found here. Insiders have sold a total of 323,890 shares of company stock worth $36,079,267 over the last quarter. 0.32% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research analysts have recently commented on MU shares. Barclays boosted their price target on Micron Technology from $95.00 to $120.00 and gave the stock an “overweight” rating in a research report on Monday, March 18th. Rosenblatt Securities reissued a “buy” rating and issued a $140.00 price target on shares of Micron Technology in a research report on Monday, March 18th. Wedbush upped 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. JPMorgan Chase & Co. boosted their price target on Micron Technology from $105.00 to $130.00 and gave the company an “overweight” rating in a research note on Thursday, March 21st. Finally, Raymond James boosted their price target on Micron Technology from $90.00 to $100.00 and gave the company an “outperform” rating in a research note on Friday, January 19th. One analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-four have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $122.20.

Micron Technology Stock Up 2.1 %

Shares of MU stock traded up $2.37 on Friday, hitting $114.70. The stock had a trading volume of 15,564,363 shares, compared to its average volume of 21,228,284. Micron Technology, Inc. has a 52-week low of $59.55 and a 52-week high of $130.54. The firm has a market capitalization of $126.63 billion, a price-to-earnings ratio of -33.25 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. The stock’s 50 day moving average is $108.95 and its 200-day moving average is $89.67.

Micron Technology (NASDAQ:MU) last issued its earnings results on Wednesday, March 20th. The semiconductor manufacturer reported $0.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 business had revenue of $5.82 billion for the quarter, compared to analyst estimates of $5.35 billion. During the same quarter in the prior year, the business posted ($2.03) EPS. The company’s revenue for the quarter was up 57.7% on a year-over-year basis. As a group, research analysts expect that Micron Technology, Inc. will post 0.24 earnings per share for the current year.

Micron Technology Dividend Announcement

The firm also recently disclosed 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 annualized dividend and a yield of 0.40%. Micron Technology’s dividend payout ratio (DPR) is -13.33%.

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.