GAMMA Investing LLC Boosts Stock Position in Micron Technology, Inc. (NASDAQ:MU)

GAMMA Investing LLC boosted its holdings in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 10,369.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,873,435 shares of the semiconductor manufacturer's stock after acquiring an additional 1,855,541 shares during the quarter. GAMMA Investing LLC owned 0.17% of Micron Technology worth $162,783,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in MU. Norges Bank acquired a new position in shares of Micron Technology during the fourth quarter worth approximately $1,470,875,000. Capital World Investors raised its stake in shares of Micron Technology by 63.7% during the fourth quarter. Capital World Investors now owns 41,096,391 shares of the semiconductor manufacturer's stock worth $3,458,673,000 after buying an additional 15,993,036 shares during the last quarter. FMR LLC raised its stake 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 worth $4,012,114,000 after buying an additional 12,249,341 shares during the last quarter. Capital Research Global Investors raised its stake in shares of Micron Technology by 139.7% during the fourth quarter. Capital Research Global Investors now owns 16,281,620 shares of the semiconductor manufacturer's stock worth $1,370,280,000 after buying an additional 9,489,579 shares during the last quarter. Finally, Capital International Investors raised its stake in shares of Micron Technology by 36.3% during the fourth quarter. Capital International Investors now owns 16,437,080 shares of the semiconductor manufacturer's stock worth $1,383,442,000 after buying an additional 4,375,232 shares during the last quarter. Institutional investors own 80.84% of the company's stock.

Insiders Place Their Bets

In other news, Director Mary Pat Mccarthy sold 2,404 shares of the company's stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $80.00, for a total value of $192,320.00. Following the transaction, the director now owns 24,954 shares of the company's stock, valued at $1,996,320. This represents a 8.79% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP April S. Arnzen sold 15,000 shares of the company's stock in a transaction on 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 completion of the transaction, the executive vice president now directly owns 164,769 shares in the company, valued at approximately $15,847,482.42. This trade represents a 8.34% decrease in their position. The disclosure for this sale can be found here. 0.30% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on MU shares. Wall Street Zen downgraded shares of Micron Technology from a "buy" rating to a "hold" rating in a research note on Saturday, May 24th. Wedbush reiterated an "underperform" rating on shares of Micron Technology in a report on Monday, April 28th. JPMorgan Chase & Co. cut their target price on shares of Micron Technology from $145.00 to $135.00 and set an "overweight" rating on the stock in a report on Friday, March 21st. Wells Fargo & Company reiterated an "equal weight" rating on shares of Micron Technology in a report on Monday, April 28th. Finally, UBS Group cut their target price 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. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $126.48.

Micron Technology Stock Performance

Shares of NASDAQ:MU traded up $0.92 during trading on Wednesday, hitting $103.17. The stock had a trading volume of 8,352,184 shares, compared to its average volume of 23,474,733. 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 $115.30 billion, a price-to-earnings ratio of 29.73 and a beta of 1.21. The company has a quick ratio of 1.75, a current ratio of 2.72 and a debt-to-equity ratio of 0.28. The stock has a 50-day simple moving average of $82.89 and a two-hundred day simple moving average of $91.96.

Micron Technology (NASDAQ:MU - Get Free Report) last announced its quarterly earnings results on Thursday, March 20th. The semiconductor manufacturer reported $1.56 earnings per share for the quarter, beating the consensus estimate of $1.43 by $0.13. The company had revenue of $8.05 billion during 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%. Micron Technology's quarterly revenue was up 38.2% on a year-over-year basis. During the same period last year, the business earned $0.42 earnings per share. On average, equities research analysts expect that Micron Technology, Inc. will post 6.08 earnings per share for the current fiscal year.

Micron Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were paid a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a yield of 0.45%. 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.