Duquesne Family Office LLC Buys New Position in Micron Technology, Inc. (NASDAQ:MU)

Duquesne Family Office LLC acquired a new stake in Micron Technology, Inc. (NASDAQ:MU - Free Report) during the 4th quarter, according to its most recent disclosure with the SEC. The fund acquired 408,885 shares of the semiconductor manufacturer's stock, valued at approximately $34,412,000.

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

Analysts Set New Price Targets

MU has been the topic of several recent research reports. UBS Group lowered their price objective on Micron Technology from $130.00 to $92.00 and set a "buy" rating on the stock in a research report on Monday, April 28th. Citigroup cut their price objective 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. Rosenblatt Securities lowered their target price on Micron Technology from $250.00 to $200.00 and set a "buy" rating for the company in a report on Friday, March 21st. Royal Bank of Canada set a $125.00 price target on Micron Technology in a research note on Wednesday, March 19th. Finally, China Renaissance downgraded Micron Technology from a "buy" rating to a "hold" rating and set a $84.00 price objective for the company. in a research note on Wednesday, March 26th. Two analysts have rated the stock with a sell rating, four have issued a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $126.48.

Micron Technology Stock Up 0.8 %

Shares of MU stock traded up $0.71 during trading hours on Friday, reaching $85.86. The company had a trading volume of 13,006,441 shares, compared to its average volume of 23,325,824. The company has a market cap of $95.95 billion, a price-to-earnings ratio of 24.74 and a beta of 1.21. 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, Inc. has a 12 month low of $61.54 and a 12 month high of $157.54. The business has a fifty day simple moving average of $82.62 and a 200-day simple moving average of $92.99.

Micron Technology (NASDAQ:MU - Get Free Report) last issued its quarterly earnings data on Thursday, March 20th. The semiconductor manufacturer reported $1.56 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.43 by $0.13. The business had revenue of $8.05 billion during the quarter, compared to the consensus estimate of $7.93 billion. Micron Technology had a net margin of 13.34% and a return on equity of 8.32%. The firm's quarterly revenue was up 38.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.42 EPS. On average, research analysts expect that Micron Technology, Inc. will post 6.08 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 15th. Investors of record on Monday, March 31st were issued a $0.115 dividend. The ex-dividend date of this dividend was Monday, March 31st. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.54%. Micron Technology's dividend payout ratio (DPR) is presently 11.03%.

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 value of $1,442,700.00. Following the sale, the executive vice president now directly owns 164,769 shares of the company's stock, valued at approximately $15,847,482.42. This represents a 8.34 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Mary Pat Mccarthy sold 2,404 shares of the business's stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $92.93, for a total transaction of $223,403.72. Following the transaction, the director now directly owns 27,358 shares of the company's stock, 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. Over the last ninety days, insiders sold 19,808 shares of company stock valued at $1,858,424. Company insiders own 0.30% of the company's stock.

Micron Technology 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.