Black Maple Capital Management LP Raises Stock Position in Micron Technology, Inc. (NASDAQ:MU)

Black Maple Capital Management LP raised its stake in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 72.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,500 shares of the semiconductor manufacturer's stock after buying an additional 4,000 shares during the period. Black Maple Capital Management LP's holdings in Micron Technology were worth $800,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Beacon Capital Management LLC grew its holdings in Micron Technology by 114.9% during the 4th quarter. Beacon Capital Management LLC now owns 374 shares of the semiconductor manufacturer's stock worth $31,000 after acquiring an additional 200 shares during the period. Midwest Capital Advisors LLC acquired a new stake in Micron Technology during the fourth quarter worth approximately $33,000. Activest Wealth Management increased its holdings in Micron Technology by 583.3% in the fourth quarter. Activest Wealth Management now owns 410 shares of the semiconductor manufacturer's stock worth $34,000 after purchasing an additional 350 shares in the last quarter. Comprehensive Financial Planning Inc. PA acquired a new position in Micron Technology in the fourth quarter valued at approximately $34,000. Finally, Curio Wealth LLC bought a new position in shares of Micron Technology during the 4th quarter worth approximately $34,000. 80.84% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

MU has been the subject of a number of research analyst reports. Robert W. Baird boosted their target price on Micron Technology from $130.00 to $163.00 and gave the company an "outperform" rating in a research report on Friday, March 21st. Cantor Fitzgerald restated an "overweight" rating and set a $130.00 price objective on shares of Micron Technology in a report on Friday, March 21st. KGI Securities upgraded Micron Technology to a "strong-buy" rating in a report on Friday, February 21st. Rosenblatt Securities decreased their price target 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, JPMorgan Chase & Co. dropped their price objective on shares of Micron Technology from $145.00 to $135.00 and set an "overweight" rating on the stock in a research note on Friday, March 21st. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $127.04.

Insider Transactions at Micron Technology

In related news, EVP April S. Arnzen sold 15,000 shares of the business's stock in a transaction that occurred on 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 completion of the sale, the executive vice president now owns 164,769 shares in the company, valued at $15,847,482.42. The trade was a 8.34 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Mary Pat Mccarthy sold 2,404 shares of the 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 owns 27,358 shares in the company, valued at $2,542,378.94. The trade was a 8.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.30% of the stock is currently owned by insiders.

Micron Technology Price Performance

Shares of MU stock traded down $0.30 on Monday, reaching $80.42. The company's stock had a trading volume of 12,499,628 shares, compared to its average volume of 23,283,197. The company has a market capitalization of $89.88 billion, a P/E ratio of 23.18 and a beta of 1.18. Micron Technology, Inc. has a 12-month low of $61.54 and a 12-month high of $157.54. The stock's 50 day simple moving average is $83.28 and its 200-day simple moving average is $93.55. The company has a quick ratio of 1.75, a current ratio of 2.72 and a debt-to-equity ratio of 0.28.

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

Micron Technology Dividend Announcement

The business 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. This represents a $0.46 annualized dividend and a dividend yield of 0.57%. The ex-dividend date of this dividend was Monday, March 31st. Micron Technology's dividend payout ratio (DPR) is currently 11.03%.

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.