Sivia Capital Partners LLC Makes New Investment in Micron Technology, Inc. (NASDAQ:MU)

Sivia Capital Partners LLC purchased a new stake in Micron Technology, Inc. (NASDAQ:MU - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 2,900 shares of the semiconductor manufacturer's stock, valued at approximately $252,000.

Several other hedge funds have also modified their holdings of MU. Sunbeam Capital Management LLC acquired a new stake in shares of Micron Technology in the 4th quarter valued at approximately $26,000. Beacon Capital Management LLC raised its holdings in Micron Technology by 114.9% during the fourth quarter. Beacon Capital Management LLC now owns 374 shares of the semiconductor manufacturer's stock worth $31,000 after purchasing an additional 200 shares during the last quarter. Midwest Capital Advisors LLC acquired a new position in Micron Technology during the fourth quarter worth $33,000. Activest Wealth Management raised its holdings in Micron Technology by 583.3% during 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 during the last quarter. Finally, Comprehensive Financial Planning Inc. PA acquired a new position in Micron Technology during the fourth quarter worth $34,000. 80.84% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Robert W. Baird lifted their price objective on Micron Technology from $130.00 to $163.00 and gave the stock an "outperform" rating in a report on Friday, March 21st. Mizuho lifted their price objective on Micron Technology from $124.00 to $130.00 and gave the stock an "outperform" rating in a report on Thursday, June 5th. Wall Street Zen cut Micron Technology from a "buy" rating to a "hold" rating in a report on Saturday, May 24th. Barclays reduced their price objective on Micron Technology from $115.00 to $95.00 and set an "overweight" rating for the company in a report on Tuesday, April 22nd. Finally, KGI Securities raised Micron Technology to a "strong-buy" rating in a research report on Friday, February 21st. Two analysts have rated the stock with a sell rating, five have issued a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $129.00.

Insider Activity at Micron Technology

In related news, EVP April S. Arnzen sold 15,000 shares of Micron Technology 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 transaction, the executive vice president now owns 164,769 shares in the company, valued at approximately $15,847,482.42. This trade represents a 8.34% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Mary Pat Mccarthy sold 2,404 shares of Micron Technology stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $80.00, for a total value 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 disclosure for this sale can be found here. Over the last 90 days, insiders have sold 44,904 shares of company stock worth $4,665,124. 0.30% of the stock is owned by insiders.

Micron Technology Trading Up 1.7%

Shares of NASDAQ:MU traded up $1.89 during midday trading on Wednesday, reaching $116.03. The company's stock had a trading volume of 21,558,700 shares, compared to its average volume of 23,683,958. The firm has a market cap of $129.67 billion, a price-to-earnings ratio of 33.44 and a beta of 1.28. 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 1 year low of $61.54 and a 1 year high of $157.54. The business has a 50 day moving average price of $86.24 and a 200 day moving average price of $92.43.

Micron Technology (NASDAQ:MU - Get Free Report) last announced its quarterly earnings data on Thursday, March 20th. The semiconductor manufacturer reported $1.56 EPS for the quarter, beating 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 return on equity of 8.32% and a net margin of 13.34%. The business's revenue for the quarter was up 38.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.42 earnings per share. Research analysts forecast that Micron Technology, Inc. will post 6.08 EPS for the current year.

Micron Technology Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were issued a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a yield of 0.40%. The ex-dividend date of this dividend was Monday, March 31st. Micron Technology's payout ratio is currently 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.