Sunbeam Capital Management LLC Purchases Shares of 2,956 Micron Technology, Inc. (NASDAQ:MU)

Sunbeam Capital Management LLC bought a new stake in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 2,956 shares of the semiconductor manufacturer's stock, valued at approximately $249,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. E Fund Management Co. Ltd. raised its holdings in Micron Technology by 31.8% in the 4th quarter. E Fund Management Co. Ltd. now owns 36,378 shares of the semiconductor manufacturer's stock worth $3,062,000 after acquiring an additional 8,780 shares during the last quarter. CIBC Private Wealth Group LLC grew its position in Micron Technology by 43.0% in the 4th quarter. CIBC Private Wealth Group LLC now owns 14,178 shares of the semiconductor manufacturer's stock worth $1,193,000 after purchasing an additional 4,264 shares during the period. Stablepoint Partners LLC bought a new stake in Micron Technology in the 4th quarter worth approximately $569,000. Landscape Capital Management L.L.C. grew its position in Micron Technology by 167.0% in the 4th quarter. Landscape Capital Management L.L.C. now owns 45,758 shares of the semiconductor manufacturer's stock worth $3,851,000 after purchasing an additional 28,621 shares during the period. Finally, Duquesne Family Office LLC bought a new stake in Micron Technology in the 4th quarter worth approximately $34,412,000. 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 stock in a transaction that occurred 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 $1,996,320. This represents a 8.79% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP April S. Arnzen sold 15,000 shares of the stock in a transaction that occurred 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 directly 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. In the last quarter, insiders sold 19,808 shares of company stock valued at $1,858,424. Company insiders own 0.30% of the company's stock.

Micron Technology Trading Up 3.2%

MU stock traded up $3.01 during mid-day trading on Tuesday, reaching $96.38. The company had a trading volume of 17,591,651 shares, compared to its average volume of 23,493,475. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.72 and a quick ratio of 1.75. The company has a market capitalization of $107.71 billion, a PE ratio of 27.78 and a beta of 1.21. The firm has a 50 day moving average of $82.65 and a 200 day moving average of $92.07. 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 issued 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 business had revenue of $8.05 billion for the quarter, compared to the consensus estimate of $7.93 billion. Micron Technology had a net margin of 13.34% and a return on equity of 8.32%. The company's revenue for the quarter was up 38.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.42 EPS. On average, equities analysts predict that Micron Technology, Inc. will post 6.08 earnings per share for the current fiscal year.

Micron Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were given a $0.115 dividend. The ex-dividend date was Monday, March 31st. This represents a $0.46 annualized dividend and a dividend yield of 0.48%. Micron Technology's payout ratio is presently 11.03%.

Analyst Ratings Changes

A number of research firms have commented on MU. Rosenblatt Securities cut their target price on shares of Micron Technology from $250.00 to $200.00 and set a "buy" rating for the company in a research report on Friday, March 21st. Wedbush reaffirmed an "underperform" rating on shares of Micron Technology in a research report on Monday, April 28th. UBS Group cut their price objective on shares of Micron Technology from $130.00 to $92.00 and set a "buy" rating for the company in a research report on Monday, April 28th. Morgan Stanley cut their price objective on shares of Micron Technology from $112.00 to $98.00 and set an "equal weight" rating for the company in a research report on Wednesday, May 7th. Finally, Barclays cut their price objective on shares of Micron Technology from $115.00 to $95.00 and set an "overweight" rating for the company in a research report on Tuesday, April 22nd. Two investment analysts have rated the stock with a sell rating, five have given a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Micron Technology presently has a consensus rating of "Moderate Buy" and an average price target of $126.48.

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.