Infinitum Asset Management LLC Buys New Position in Micron Technology, Inc. (NASDAQ:MU)

Infinitum Asset Management LLC acquired a new position in Micron Technology, Inc. (NASDAQ:MU - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 80,000 shares of the semiconductor manufacturer's stock, valued at approximately $6,733,000. Micron Technology comprises about 3.6% of Infinitum Asset Management LLC's portfolio, making the stock its 11th biggest position.

Other large investors also recently added to or reduced their stakes in the company. Xcel Wealth Management LLC raised its holdings in Micron Technology by 1.8% in the fourth quarter. Xcel Wealth Management LLC now owns 6,157 shares of the semiconductor manufacturer's stock worth $518,000 after purchasing an additional 108 shares in the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors grew its stake in shares of Micron Technology by 3.8% in the fourth quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 2,973 shares of the semiconductor manufacturer's stock worth $250,000 after acquiring an additional 108 shares during the last quarter. Twin Capital Management Inc. grew its stake in shares of Micron Technology by 0.5% in the fourth quarter. Twin Capital Management Inc. now owns 20,062 shares of the semiconductor manufacturer's stock worth $1,688,000 after acquiring an additional 108 shares during the last quarter. Lebenthal Global Advisors LLC grew its stake in shares of Micron Technology by 1.5% in the fourth quarter. Lebenthal Global Advisors LLC now owns 7,474 shares of the semiconductor manufacturer's stock worth $629,000 after acquiring an additional 114 shares during the last quarter. Finally, Cim Investment Management Inc. grew its stake in shares of Micron Technology by 0.5% in the fourth quarter. Cim Investment Management Inc. now owns 23,062 shares of the semiconductor manufacturer's stock worth $1,941,000 after acquiring an additional 114 shares during the last quarter. Hedge funds and other institutional investors own 80.84% of the company's stock.

Insider Transactions at Micron Technology

In related news, Director Mary Pat Mccarthy sold 2,404 shares of the business's stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $80.00, for a total transaction of $192,320.00. Following the completion of the transaction, the director now owns 24,954 shares in the company, valued at $1,996,320. The trade was a 8.79% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP April S. Arnzen sold 15,000 shares of the business'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 transaction, the executive vice president now owns 164,769 shares of the company's stock, valued at approximately $15,847,482.42. The trade was a 8.34% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 19,808 shares of company stock worth $1,858,424. 0.30% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research firms have recently commented on MU. Wedbush reissued an "underperform" rating on shares of Micron Technology in a research note on Monday, April 28th. Barclays cut their target price on Micron Technology from $115.00 to $95.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 22nd. Robert W. Baird increased their target price on Micron Technology from $130.00 to $163.00 and gave the stock an "outperform" rating in a research note on Friday, March 21st. Citigroup dropped their price objective on Micron Technology from $120.00 to $110.00 and set a "buy" rating on the stock in a research report on Friday, April 11th. Finally, Rosenblatt Securities dropped their target price on Micron Technology from $250.00 to $200.00 and set a "buy" rating on the stock in a research report on Friday, March 21st. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Micron Technology has a consensus rating of "Moderate Buy" and a consensus price target of $126.48.

Micron Technology Price Performance

NASDAQ MU traded up $1.02 during trading on Thursday, hitting $97.20. 8,178,182 shares of the stock traded hands, compared to its average volume of 23,419,097. The company has a market capitalization of $108.63 billion, a P/E ratio of 28.07 and a beta of 1.21. The firm has a 50-day simple moving average of $82.54 and a 200-day simple moving average of $92.13. 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, Inc. has a 12-month low of $61.54 and a 12-month high of $157.54.

Micron Technology (NASDAQ:MU - Get Free Report) last announced its 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. The firm 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%. The company's quarterly revenue was up 38.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.42 EPS. As a group, analysts predict that Micron Technology, Inc. will post 6.08 EPS for the current year.

Micron Technology Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were issued a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.47%. The ex-dividend date of this dividend was Monday, March 31st. Micron Technology's dividend payout ratio (DPR) is 11.03%.

About Micron Technology

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.