Collar Capital Management LLC Makes New $2.60 Million Investment in Micron Technology, Inc. (NASDAQ:MU)

Collar Capital Management LLC purchased a new position in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 30,914 shares of the semiconductor manufacturer's stock, valued at approximately $2,602,000. Micron Technology makes up 2.2% of Collar Capital Management LLC's holdings, making the stock its 13th largest holding.

Other large investors also recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in shares of Micron Technology by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 99,857,205 shares of the semiconductor manufacturer's stock worth $8,403,982,000 after purchasing an additional 888,087 shares in the last quarter. FMR LLC grew its holdings in shares of Micron Technology by 34.6% during the fourth quarter. FMR LLC now owns 47,672,462 shares of the semiconductor manufacturer's stock valued at $4,012,114,000 after buying an additional 12,249,341 shares during the last quarter. Capital World Investors raised its holdings in shares of Micron Technology by 63.7% in the 4th quarter. Capital World Investors now owns 41,096,391 shares of the semiconductor manufacturer's stock worth $3,458,673,000 after acquiring an additional 15,993,036 shares during the last quarter. Geode Capital Management LLC lifted its position in Micron Technology by 3.1% in the 4th quarter. Geode Capital Management LLC now owns 24,449,827 shares of the semiconductor manufacturer's stock valued at $2,052,973,000 after acquiring an additional 726,282 shares in the last quarter. Finally, Norges Bank acquired a new position in Micron Technology during the 4th quarter valued at about $1,470,875,000. Institutional investors and hedge funds own 80.84% of the company's stock.

Insiders Place Their Bets

In related news, EVP April S. Arnzen sold 15,000 shares of the company's stock in a transaction 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 sale, the executive vice president now directly owns 164,769 shares of the company's stock, valued at $15,847,482.42. This represents a 8.34 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Mary Pat Mccarthy sold 2,404 shares of the firm's stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $92.93, for a total value of $223,403.72. Following the transaction, the director now directly owns 27,358 shares of the company's stock, valued at $2,542,378.94. This represents a 8.08 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 19,808 shares of company stock valued at $1,858,424 over the last three months. Insiders own 0.30% of the company's stock.

Wall Street Analyst Weigh In

MU has been the topic of a number of recent research reports. China Renaissance lowered Micron Technology from a "buy" rating to a "hold" rating and set a $84.00 target price on the stock. in a report on Wednesday, March 26th. UBS Group cut their price objective on shares of Micron Technology from $130.00 to $92.00 and set a "buy" rating on the stock in a report on Monday, April 28th. Cantor Fitzgerald reiterated an "overweight" rating and issued a $130.00 target price on shares of Micron Technology in a report on Friday, March 21st. Wedbush restated an "underperform" rating on shares of Micron Technology in a report on Monday, April 28th. Finally, Royal Bank of Canada set a $125.00 price objective on shares of Micron Technology in a research note on Wednesday, March 19th. Two investment 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 company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $127.04.

Micron Technology Stock Performance

NASDAQ MU opened at $80.60 on Wednesday. The company's 50 day simple moving average is $83.06 and its two-hundred day simple moving average is $93.46. The stock has a market capitalization of $90.08 billion, a PE ratio of 23.23 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 1 year low of $61.54 and a 1 year high of $157.54.

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

Micron Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were given a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a yield of 0.57%. The ex-dividend date was Monday, March 31st. Micron Technology's payout ratio is presently 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.

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