Micron Technology, Inc. (NASDAQ:MU) Shares Purchased by Stevens Capital Management LP

Key Points

• Stevens Capital Management LP increased its stake in Micron Technology by 103.3%, now owning 50,611 shares worth approximately $4.4 million.
• Micron Technology reported a Q3 EPS of $1.91, exceeding analyst expectations of $1.57, and a revenue of $9.3 billion compared to estimates of $8.83 billion.
• The company announced a quarterly dividend of $0.115 per share, yielding 0.41%, reflecting a payout ratio of 8.29%.

Stevens Capital Management LP increased its holdings in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 103.3% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 50,611 shares of the semiconductor manufacturer's stock after purchasing an additional 25,715 shares during the period. Micron Technology makes up about 1.1% of Stevens Capital Management LP's investment portfolio, making the stock its 26th largest position. Stevens Capital Management LP's holdings in Micron Technology were worth $4,398,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of MU. Brighton Jones LLC grew its position in Micron Technology by 18.3% in the 4th quarter. Brighton Jones LLC now owns 6,318 shares of the semiconductor manufacturer's stock valued at $532,000 after acquiring an additional 976 shares during the last quarter. Bank Pictet & Cie Europe AG grew its holdings in shares of Micron Technology by 19.5% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 85,722 shares of the semiconductor manufacturer's stock worth $7,214,000 after purchasing an additional 13,985 shares during the last quarter. LPL Financial LLC grew its holdings in shares of Micron Technology by 5.0% in the fourth quarter. LPL Financial LLC now owns 734,517 shares of the semiconductor manufacturer's stock worth $61,817,000 after purchasing an additional 35,163 shares during the last quarter. FineMark National Bank & Trust grew its stake in Micron Technology by 3.9% in the 4th quarter. FineMark National Bank & Trust now owns 3,640 shares of the semiconductor manufacturer's stock worth $306,000 after acquiring an additional 136 shares in the last quarter. Finally, Murphy & Mullick Capital Management Corp bought a new position in Micron Technology in the 4th quarter worth about $182,000. Institutional investors own 80.84% of the company's stock.

Micron Technology Stock Performance

Shares of MU stock traded down $0.47 on Friday, hitting $111.26. The company had a trading volume of 16,240,251 shares, compared to its average volume of 22,703,478. The company has a quick ratio of 1.89, a current ratio of 2.75 and a debt-to-equity ratio of 0.30. The company has a 50-day moving average price of $112.94 and a 200-day moving average price of $97.56. Micron Technology, Inc. has a twelve month low of $61.54 and a twelve month high of $129.85. The firm has a market cap of $124.51 billion, a P/E ratio of 20.05 and a beta of 1.35.

Micron Technology (NASDAQ:MU - Get Free Report) last posted its quarterly earnings data on Wednesday, June 25th. The semiconductor manufacturer reported $1.91 earnings per share for the quarter, topping analysts' consensus estimates of $1.57 by $0.34. Micron Technology had a net margin of 18.41% and a return on equity of 13.60%. The company had revenue of $9.30 billion during the quarter, compared to analysts' expectations of $8.83 billion. During the same period in the prior year, the business posted $0.62 earnings per share. As a group, equities research analysts predict that Micron Technology, Inc. will post 6.08 earnings per share for the current fiscal year.

Micron Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 22nd. Shareholders of record on Monday, July 7th were issued a $0.115 dividend. The ex-dividend date of this dividend was Monday, July 7th. This represents a $0.46 dividend on an annualized basis and a yield of 0.41%. Micron Technology's payout ratio is 8.29%.

Wall Street Analyst Weigh In

MU has been the topic of a number of research analyst reports. Needham & Company LLC upped their target price on shares of Micron Technology from $120.00 to $150.00 and gave the stock a "buy" rating in a research note on Thursday, June 26th. JPMorgan Chase & Co. increased their price objective on Micron Technology from $135.00 to $165.00 and gave the stock an "overweight" rating in a research note on Thursday, June 26th. KeyCorp increased their price target on Micron Technology from $135.00 to $160.00 and gave the stock an "overweight" rating in a research report on Thursday, June 26th. Susquehanna increased their price target on Micron Technology from $150.00 to $160.00 and gave the stock a "positive" rating in a research report on Thursday, June 26th. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of Micron Technology in a report on Thursday, July 10th. They set a "buy" rating and a $150.00 target price on the stock. One analyst has rated the stock with a sell rating, four have assigned a hold rating, twenty have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $146.44.

Insiders Place Their Bets

In related news, CFO Mark J. Murphy sold 34,000 shares of Micron Technology stock in a transaction that occurred on Tuesday, July 22nd. The shares were sold at an average price of $109.32, for a total value of $3,716,880.00. Following the completion of the transaction, the chief financial officer owned 264,036 shares in the company, valued at approximately $28,864,415.52. The trade was a 11.41% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Sumit Sadana sold 92,638 shares of the business's stock in a transaction on Friday, June 27th. The stock was sold at an average price of $125.49, for a total transaction of $11,625,142.62. Following the completion of the transaction, the executive vice president owned 201,326 shares of the company's stock, valued at approximately $25,264,399.74. This trade represents a 31.51% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 288,446 shares of company stock worth $34,871,597. 0.30% of the stock is currently owned by company insiders.

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.