Vega Investment Solutions Takes Position in Micron Technology, Inc. (NASDAQ:MU)

Vega Investment Solutions acquired a new stake in Micron Technology, Inc. (NASDAQ:MU - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 15,606 shares of the semiconductor manufacturer's stock, valued at approximately $1,313,000. Micron Technology comprises 1.1% of Vega Investment Solutions' holdings, making the stock its 20th largest position.

Several other institutional investors and hedge funds have also recently bought and sold shares of MU. Beacon Capital Management LLC increased 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 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 approximately $33,000. Activest Wealth Management increased its position 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. Comprehensive Financial Planning Inc. PA acquired a new position in Micron Technology during the fourth quarter worth approximately $34,000. Finally, Curio Wealth LLC acquired a new position in Micron Technology during the fourth quarter worth approximately $34,000. Institutional investors and hedge funds own 80.84% of the company's stock.

Insiders Place Their Bets

In related news, EVP April S. Arnzen sold 15,000 shares of the stock in a transaction dated 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 completion of the transaction, the executive vice president now owns 164,769 shares in the company, valued at $15,847,482.42. This represents a 8.34% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Mary Pat Mccarthy sold 2,404 shares of the stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $92.93, for a total transaction of $223,403.72. Following the completion of the transaction, the director now owns 27,358 shares of the company's stock, valued at $2,542,378.94. This represents a 8.08% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have 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 Down 1.1%

MU opened at $94.83 on Friday. The stock has a market capitalization of $105.98 billion, a PE ratio of 27.33 and a beta of 1.21. The firm's fifty day moving average price is $82.99 and its 200 day moving average price is $92.56. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.72 and a quick ratio of 1.75. 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 earnings per share for the quarter, topping analysts' consensus estimates of $1.43 by $0.13. The company had revenue of $8.05 billion for 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 was up 38.2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.42 earnings per share. As a group, research analysts expect that Micron Technology, Inc. will post 6.08 EPS for the current fiscal year.

Micron Technology Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were issued a dividend of $0.115 per share. The ex-dividend date of this dividend was Monday, March 31st. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.49%. Micron Technology's dividend payout ratio (DPR) is 11.03%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on MU. China Renaissance downgraded shares of Micron Technology from a "buy" rating to a "hold" rating and set a $84.00 price objective for the company. in a research note on Wednesday, March 26th. Wedbush reiterated an "underperform" rating on shares of Micron Technology in a research note on Monday, April 28th. Rosenblatt Securities decreased their price objective on shares of Micron Technology from $250.00 to $200.00 and set a "buy" rating for the company in a research note on Friday, March 21st. Morgan Stanley decreased 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 note on Wednesday, May 7th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Micron Technology from $145.00 to $135.00 and set an "overweight" rating for the company in a research note on Friday, March 21st. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, Micron Technology currently has an average rating of "Moderate Buy" and an average target price of $126.48.

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.

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