Headlands Technologies LLC Buys Shares of 14,108 Micron Technology, Inc. (NASDAQ:MU)

Headlands Technologies LLC bought a new stake in Micron Technology, Inc. (NASDAQ:MU) in the 4th quarter, Holdings Channel reports. The institutional investor bought 14,108 shares of the semiconductor manufacturer’s stock, valued at approximately $1,204,000.

Several other large investors have also recently bought and sold shares of MU. OFI Invest Asset Management bought a new position in Micron Technology in the third quarter valued at about $27,000. Annis Gardner Whiting Capital Advisors LLC bought a new position in shares of Micron Technology during the third quarter worth about $28,000. VisionPoint Advisory Group LLC raised its position in shares of Micron Technology by 68.3% during the third quarter. VisionPoint Advisory Group LLC now owns 488 shares of the semiconductor manufacturer’s stock worth $33,000 after acquiring an additional 198 shares during the last quarter. Cape Investment Advisory Inc. raised its position in shares of Micron Technology by 51.0% during the third quarter. Cape Investment Advisory Inc. now owns 592 shares of the semiconductor manufacturer’s stock worth $40,000 after acquiring an additional 200 shares during the last quarter. Finally, Clear Street Markets LLC raised its position in shares of Micron Technology by 67.5% during the third quarter. Clear Street Markets LLC now owns 623 shares of the semiconductor manufacturer’s stock worth $42,000 after acquiring an additional 251 shares during the last quarter. 80.84% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

MU has been the subject of a number of analyst reports. Barclays raised their price objective on Micron Technology from $95.00 to $120.00 and gave the stock an “overweight” rating in a research report on Monday, March 18th. Needham & Company LLC raised their price objective on Micron Technology from $100.00 to $120.00 and gave the stock a “buy” rating in a research report on Thursday, March 21st. JPMorgan Chase & Co. raised their price objective on Micron Technology from $105.00 to $130.00 and gave the stock an “overweight” rating in a research report on Thursday, March 21st. Morgan Stanley boosted their price target on Micron Technology from $78.00 to $98.00 and gave the company an “underweight” rating in a research note on Thursday, March 21st. Finally, 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. One research analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $122.20.

Micron Technology Trading Up 2.9 %

Shares of Micron Technology stock opened at $114.84 on Friday. The stock has a fifty day simple moving average of $105.94 and a 200 day simple moving average of $88.30. Micron Technology, Inc. has a 12-month low of $59.55 and a 12-month high of $130.54. The company has a market capitalization of $127.17 billion, a P/E ratio of -33.29 and a beta of 1.27. The company has a current ratio of 3.74, a quick ratio of 2.40 and a debt-to-equity ratio of 0.30.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings results on Wednesday, March 20th. The semiconductor manufacturer reported $0.42 earnings per share (EPS) 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 business had revenue of $5.82 billion during the quarter, compared to the consensus estimate of $5.35 billion. During the same quarter in the prior year, the company posted ($2.03) earnings per share. Micron Technology’s revenue was up 57.7% compared to the same quarter last year. On average, sell-side analysts anticipate that Micron Technology, Inc. will post 0.24 earnings per share for the current fiscal year.

Micron Technology Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 16th. Investors of record on Monday, April 1st were issued 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 currently -13.33%.

Insider Buying and Selling

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of the company’s stock in a transaction 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 transaction, the executive vice president now owns 148,817 shares in the company, valued at approximately $17,753,868.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of the company’s stock in a transaction 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 transaction, the executive vice president now owns 148,817 shares in the company, valued at approximately $17,753,868.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Sanjay Mehrotra sold 7,000 shares of the company’s stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $87.02, for a total value of $609,140.00. Following the completion of the transaction, the chief executive officer now owns 788,557 shares of the company’s stock, valued at approximately $68,620,230.14. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 268,890 shares of company stock worth $29,738,667. 0.32% of the stock is owned by corporate insiders.

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.