LHM Inc. Makes New Investment in Micron Technology, Inc. (NASDAQ:MU)

LHM Inc. purchased a new stake in Micron Technology, Inc. (NASDAQ:MU - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 13,491 shares of the semiconductor manufacturer's stock, valued at approximately $1,153,000. Micron Technology accounts for approximately 1.0% of LHM Inc.'s investment portfolio, making the stock its 5th biggest position.

Other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. lifted its stake in Micron Technology by 0.3% in the 3rd quarter. Vanguard Group Inc. now owns 94,229,187 shares of the semiconductor manufacturer's stock worth $6,410,412,000 after acquiring an additional 305,860 shares in the last quarter. State Street Corp boosted its stake in Micron Technology by 2.4% during the first quarter. State Street Corp now owns 45,911,286 shares of the semiconductor manufacturer's stock worth $2,770,316,000 after buying an additional 1,074,820 shares in the last quarter. FMR LLC increased its holdings in Micron Technology by 47.9% in the 3rd quarter. FMR LLC now owns 21,899,184 shares of the semiconductor manufacturer's stock valued at $1,489,801,000 after buying an additional 7,089,790 shares during the period. Geode Capital Management LLC increased its holdings in Micron Technology by 1.3% in the 1st quarter. Geode Capital Management LLC now owns 20,348,845 shares of the semiconductor manufacturer's stock valued at $1,225,181,000 after buying an additional 253,179 shares during the period. Finally, Wellington Management Group LLP increased its holdings in Micron Technology by 43.4% in the 3rd quarter. Wellington Management Group LLP now owns 17,383,628 shares of the semiconductor manufacturer's stock valued at $1,182,608,000 after buying an additional 5,257,201 shares during the period. Institutional investors and hedge funds own 80.84% of the company's stock.

Analyst Ratings Changes

Several research firms have recently weighed in on MU. TD Cowen upped their target price on shares of Micron Technology from $120.00 to $150.00 and gave the stock an "outperform" rating in a report on Thursday, March 21st. Mizuho increased their price objective on shares of Micron Technology from $105.00 to $124.00 and gave the stock a "buy" rating in a report on Thursday, March 21st. Robert W. Baird increased their price objective on shares of Micron Technology from $78.00 to $115.00 and gave the stock a "neutral" rating in a report on Tuesday, March 19th. Needham & Company LLC increased their price objective on shares of Micron Technology from $100.00 to $120.00 and gave the stock a "buy" rating in a report on Thursday, March 21st. Finally, Morgan Stanley increased their price objective on shares of Micron Technology from $78.00 to $98.00 and gave the stock an "underweight" rating in a report on Thursday, March 21st. One research analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-four have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $122.20.

Insider Transactions at Micron Technology

In other news, CEO Sanjay Mehrotra sold 7,000 shares of Micron Technology stock in a transaction on Tuesday, April 9th. The stock was sold at an average price of $122.60, for a total transaction of $858,200.00. Following the completion of the sale, the chief executive officer now owns 728,557 shares of the company's stock, valued at $89,321,088.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Sanjay Mehrotra sold 7,000 shares of Micron Technology stock in a transaction on Tuesday, April 9th. The stock was sold at an average price of $122.60, for a total transaction of $858,200.00. Following the completion of the sale, the chief executive officer now owns 728,557 shares of the company's stock, valued at $89,321,088.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP April S. Arnzen sold 4,890 shares of Micron Technology stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $119.30, for a total value of $583,377.00. Following the sale, the executive vice president now directly owns 148,817 shares of the company's stock, valued at approximately $17,753,868.10. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 313,890 shares of company stock valued at $33,354,527. 0.32% of the stock is currently owned by corporate insiders.

Micron Technology Stock Down 3.9 %

Shares of NASDAQ:MU traded down $4.99 during midday trading on Friday, hitting $122.52. The stock had a trading volume of 24,808,212 shares, compared to its average volume of 32,541,834. Micron Technology, Inc. has a 12 month low of $58.03 and a 12 month high of $130.54. The company has a quick ratio of 2.40, a current ratio of 3.74 and a debt-to-equity ratio of 0.30. The business's 50-day simple moving average is $99.93 and its 200-day simple moving average is $85.24. The company has a market cap of $135.67 billion, a P/E ratio of -35.51 and a beta of 1.27.

Micron Technology (NASDAQ:MU - Get Free Report) last announced its quarterly earnings results on Wednesday, March 20th. The semiconductor manufacturer reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.27) by $0.69. Micron Technology had a negative return on equity of 8.98% and a negative net margin of 20.57%. The business had revenue of $5.82 billion during the quarter, compared to the consensus estimate of $5.35 billion. During the same quarter last year, the firm posted ($2.03) EPS. The company's quarterly revenue was up 57.7% on a year-over-year basis. On average, sell-side analysts forecast that Micron Technology, Inc. will post 0.24 earnings per share for the current fiscal year.

Micron Technology Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 16th. Shareholders of record on Monday, April 1st will be issued a dividend of $0.115 per share. This represents a $0.46 annualized dividend and a yield of 0.38%. The ex-dividend date is Thursday, March 28th. Micron Technology's dividend payout ratio is -13.33%.

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.