Aspire Growth Partners LLC Takes Position in Micron Technology, Inc. (NASDAQ:MU)

Aspire Growth Partners LLC bought a new stake in Micron Technology, Inc. (NASDAQ:MU) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 3,390 shares of the semiconductor manufacturer’s stock, valued at approximately $295,000.

A number of other large investors have also added to or reduced their stakes in the company. E Fund Management Co. Ltd. grew its position in shares of Micron Technology by 31.8% during the fourth quarter. E Fund Management Co. Ltd. now owns 36,378 shares of the semiconductor manufacturer’s stock worth $3,062,000 after buying an additional 8,780 shares in the last quarter. CIBC Private Wealth Group LLC increased its position in shares of Micron Technology by 43.0% in the 4th quarter. CIBC Private Wealth Group LLC now owns 14,178 shares of the semiconductor manufacturer’s stock worth $1,193,000 after purchasing an additional 4,264 shares during the last quarter. Stablepoint Partners LLC bought a new stake in shares of Micron Technology in the 4th quarter worth about $569,000. Landscape Capital Management L.L.C. raised its stake in shares of Micron Technology by 167.0% in the 4th quarter. Landscape Capital Management L.L.C. now owns 45,758 shares of the semiconductor manufacturer’s stock valued at $3,851,000 after purchasing an additional 28,621 shares in the last quarter. Finally, Fort Washington Investment Advisors Inc. OH lifted its position in shares of Micron Technology by 11.7% during the fourth quarter. Fort Washington Investment Advisors Inc. OH now owns 502,374 shares of the semiconductor manufacturer’s stock worth $42,280,000 after purchasing an additional 52,729 shares during the last quarter. 80.84% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Micron Technology

In related news, Director Mary Pat Mccarthy sold 2,404 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $92.93, for a total value of $223,403.72. Following the completion of the transaction, the director now owns 27,358 shares in the company, valued at $2,542,378.94. This trade represents a 8.08 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP April S. Arnzen sold 15,000 shares of the business’s stock in a transaction dated Tuesday, March 25th. The stock was sold at an average price of $96.18, for a total value of $1,442,700.00. Following the sale, the executive vice president now owns 164,769 shares in the company, valued at approximately $15,847,482.42. The trade was a 8.34 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.30% of the company’s stock.

Micron Technology Trading Up 3.8 %

Micron Technology stock opened at $80.72 on Friday. Micron Technology, Inc. has a 12-month low of $61.54 and a 12-month high of $157.54. The stock has a market capitalization of $90.21 billion, a PE ratio of 23.26 and a beta of 1.18. The firm has a 50 day simple moving average of $83.63 and a 200-day simple moving average of $94.00. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.72 and a quick ratio of 1.75.

Micron Technology (NASDAQ:MU) last issued its quarterly earnings results on Thursday, March 20th. The semiconductor manufacturer reported $1.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.43 by $0.13. The company had revenue of $8.05 billion for the quarter, compared to analysts’ expectations of $7.93 billion. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. The firm’s revenue for the quarter was up 38.2% on a year-over-year basis. During the same period last year, the firm earned $0.42 EPS. As a group, equities research analysts expect that Micron Technology, Inc. will post 6.08 EPS for the current fiscal year.

Micron Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were given a dividend of $0.115 per share. The ex-dividend date was Monday, March 31st. This represents a $0.46 annualized dividend and a dividend yield of 0.57%. Micron Technology’s dividend payout ratio (DPR) is 11.03%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on MU shares. KGI Securities upgraded Micron Technology to a “strong-buy” rating in a research note on Friday, February 21st. JPMorgan Chase & Co. dropped their price target on Micron Technology from $145.00 to $135.00 and set an “overweight” rating on the stock in a research report on Friday, March 21st. China Renaissance downgraded shares of Micron Technology from a “buy” rating to a “hold” rating and set a $84.00 price objective for the company. in a report on Wednesday, March 26th. Wells Fargo & Company reissued an “equal weight” rating on shares of Micron Technology in a report on Monday. Finally, Citigroup decreased their price target on shares of Micron Technology from $120.00 to $110.00 and set a “buy” rating for the company in a report on Friday, April 11th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Micron Technology currently has a consensus rating of “Moderate Buy” and a consensus target price of $127.04.

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.