Hurley Capital LLC Makes New Investment in Micron Technology, Inc. (NASDAQ:MU)

Hurley Capital LLC bought a new stake in Micron Technology, Inc. (NASDAQ:MU) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 410 shares of the semiconductor manufacturer’s stock, valued at approximately $37,000.

Several other hedge funds and other institutional investors have also modified their holdings of the business. E Fund Management Co. Ltd. grew its position in 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 valued at $3,062,000 after purchasing an additional 8,780 shares in the last quarter. Stablepoint Partners LLC purchased a new position in shares of Micron Technology during the 4th quarter valued at $569,000. CIBC Private Wealth Group LLC raised its holdings in shares of Micron Technology by 43.0% during the fourth quarter. CIBC Private Wealth Group LLC now owns 14,178 shares of the semiconductor manufacturer’s stock worth $1,193,000 after acquiring an additional 4,264 shares in the last quarter. Main Management ETF Advisors LLC acquired a new stake in Micron Technology during the third quarter valued at $2,414,000. Finally, Landscape Capital Management L.L.C. grew its stake in Micron Technology by 167.0% in the fourth 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. Institutional investors and hedge funds own 80.84% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. Wedbush reiterated an “outperform” rating and set a $125.00 price target on shares of Micron Technology in a report on Monday, March 17th. Cantor Fitzgerald reissued an “overweight” rating and issued a $130.00 target price on shares of Micron Technology in a research report on Friday, March 21st. Barclays increased their price target on shares of Micron Technology from $110.00 to $115.00 and gave the stock an “overweight” rating in a research note on Friday, March 21st. Rosenblatt Securities reduced their price objective on shares of Micron Technology from $250.00 to $200.00 and set a “buy” rating for the company in a research note on Friday, March 21st. Finally, Morgan Stanley raised their target price on Micron Technology from $91.00 to $112.00 and gave the company an “equal weight” rating in a report on Friday, March 21st. One analyst has rated the stock with a sell rating, three have issued a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Micron Technology currently has a consensus rating of “Moderate Buy” and an average price target of $129.76.

Insider Buying and Selling at Micron Technology

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

Micron Technology Stock Performance

MU stock opened at $64.72 on Friday. Micron Technology, Inc. has a 1-year low of $63.86 and a 1-year high of $157.54. The company has a current ratio of 2.72, a quick ratio of 1.75 and a debt-to-equity ratio of 0.28. The firm has a market cap of $72.33 billion, a PE ratio of 18.65 and a beta of 1.23. The business’s 50-day moving average price is $93.42 and its two-hundred day moving average price is $98.16.

Micron Technology (NASDAQ:MU) last issued its quarterly earnings data 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. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. The business had revenue of $8.05 billion during the quarter, compared to analyst estimates of $7.93 billion. During the same period in the previous year, the firm earned $0.42 EPS. Micron Technology’s quarterly revenue was up 38.2% compared to the same quarter last year. As a group, research analysts forecast that Micron Technology, Inc. will post 6.08 earnings per share for the current year.

Micron Technology Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be issued a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a yield of 0.71%. The ex-dividend date of this dividend is Monday, March 31st. Micron Technology’s dividend payout ratio (DPR) is presently 11.03%.

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.