Stablepoint Partners LLC Has $910,000 Holdings in Micron Technology, Inc. (NASDAQ:MU)

Stablepoint Partners LLC lifted its position in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 54.9% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 10,477 shares of the semiconductor manufacturer's stock after acquiring an additional 3,715 shares during the quarter. Stablepoint Partners LLC's holdings in Micron Technology were worth $910,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in MU. Sunbeam Capital Management LLC acquired a new position in shares of Micron Technology in the 4th quarter valued at about $26,000. Beacon Capital Management LLC grew its position in Micron Technology by 114.9% during the fourth quarter. Beacon Capital Management LLC now owns 374 shares of the semiconductor manufacturer's stock valued at $31,000 after purchasing an additional 200 shares in the last quarter. Midwest Capital Advisors LLC acquired a new position in Micron Technology in the 4th quarter valued at approximately $33,000. Roxbury Financial LLC lifted its position in Micron Technology by 306.1% in the 1st quarter. Roxbury Financial LLC now owns 398 shares of the semiconductor manufacturer's stock worth $37,000 after buying an additional 300 shares in the last quarter. Finally, Comprehensive Financial Planning Inc. PA acquired a new stake in shares of Micron Technology during the 4th quarter valued at $34,000. Institutional investors and hedge funds own 80.84% of the company's stock.

Micron Technology Price Performance

Shares of Micron Technology stock opened at $108.56 on Friday. Micron Technology, Inc. has a twelve month low of $61.54 and a twelve month high of $157.54. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.75 and a current ratio of 2.72. The firm has a market cap of $121.32 billion, a P/E ratio of 31.29 and a beta of 1.28. The firm's 50-day simple moving average is $83.97 and its 200-day simple moving average is $92.17.

Micron Technology (NASDAQ:MU - Get Free Report) last announced its earnings results on Thursday, March 20th. The semiconductor manufacturer reported $1.56 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.43 by $0.13. The business had revenue of $8.05 billion during the quarter, compared to analysts' expectations of $7.93 billion. Micron Technology had a net margin of 13.34% and a return on equity of 8.32%. The firm'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, research analysts expect that Micron Technology, Inc. will post 6.08 EPS for the current fiscal year.

Micron Technology Dividend Announcement

The business also recently announced 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. The ex-dividend date was Monday, March 31st. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.42%. Micron Technology's payout ratio is 11.03%.

Insiders Place Their Bets

In other Micron Technology news, 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 transaction of $192,320.00. Following the completion of the sale, the director now owns 24,954 shares of the company's stock, valued at approximately $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 accessible through the SEC website. 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 transaction of $1,442,700.00. Following the sale, the executive vice president now owns 164,769 shares of the company's stock, valued at $15,847,482.42. The trade was a 8.34% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.30% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on MU shares. Mizuho lifted their price target on Micron Technology from $124.00 to $130.00 and gave the company an "outperform" rating in a report on Thursday. Wall Street Zen cut shares of Micron Technology from a "buy" rating to a "hold" rating in a research note on Saturday, May 24th. Morgan Stanley dropped their price target on shares of Micron Technology from $112.00 to $98.00 and set an "equal weight" rating on the stock in a research note on Wednesday, May 7th. Robert W. Baird lifted their price objective on shares of Micron Technology from $130.00 to $163.00 and gave the company an "outperform" rating in a research note on Friday, March 21st. Finally, Citigroup reduced their target price on Micron Technology from $120.00 to $110.00 and set a "buy" rating for the company in a report on Friday, April 11th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $128.20.

Micron Technology Company 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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