Sycomore Asset Management Buys 22,300 Shares of Micron Technology, Inc. (NASDAQ:MU)

Sycomore Asset Management raised its stake in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 29.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 96,782 shares of the semiconductor manufacturer's stock after acquiring an additional 22,300 shares during the quarter. Micron Technology comprises 1.8% of Sycomore Asset Management's holdings, making the stock its 15th largest position. Sycomore Asset Management's holdings in Micron Technology were worth $8,387,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently bought and sold shares of the stock. Annis Gardner Whiting Capital Advisors LLC acquired a new position in shares of Micron Technology during the 3rd quarter worth approximately $28,000. OFI Invest Asset Management acquired a new position in shares of Micron Technology during the 3rd quarter worth approximately $27,000. VisionPoint Advisory Group LLC grew its position in shares of Micron Technology by 68.3% during the 3rd quarter. VisionPoint Advisory Group LLC now owns 488 shares of the semiconductor manufacturer's stock worth $33,000 after purchasing an additional 198 shares in the last quarter. Cape Investment Advisory Inc. grew its position in shares of Micron Technology by 51.0% during the 3rd quarter. Cape Investment Advisory Inc. now owns 592 shares of the semiconductor manufacturer's stock worth $40,000 after purchasing an additional 200 shares in the last quarter. Finally, Clear Street Markets LLC grew its position in shares of Micron Technology by 67.5% during the 3rd quarter. Clear Street Markets LLC now owns 623 shares of the semiconductor manufacturer's stock worth $42,000 after purchasing an additional 251 shares in the last quarter. 80.84% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on MU shares. UBS Group increased their price target on shares of Micron Technology from $95.00 to $120.00 and gave the stock a "buy" rating in a research report on Tuesday, March 19th. Raymond James raised their target price on shares of Micron Technology from $90.00 to $100.00 and gave the company an "outperform" rating in a research report on Friday, January 19th. JPMorgan Chase & Co. raised their target price on shares of Micron Technology from $105.00 to $130.00 and gave the company an "overweight" rating in a research report on Thursday, March 21st. Bank of America raised their target price on shares of Micron Technology from $120.00 to $144.00 and gave the company a "buy" rating in a research report on Monday, April 1st. Finally, Wells Fargo & Company raised their target price on shares of Micron Technology from $125.00 to $135.00 and gave the company an "overweight" rating in a research report on Thursday, March 21st. One investment analyst has rated the stock with a sell rating, two have given a hold rating and twenty-four have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $122.20.

Insider Activity at Micron Technology

In related news, EVP April S. Arnzen sold 4,890 shares of the company's stock in a transaction that occurred on Wednesday, March 27th. The shares were sold at an average price of $119.30, for a total transaction of $583,377.00. Following the sale, the executive vice president now directly owns 148,817 shares in the company, valued at approximately $17,753,868.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of the stock in a transaction that occurred on Wednesday, March 27th. The shares were 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 in the company, valued at approximately $17,753,868.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Sanjay Mehrotra sold 7,000 shares of the stock in a transaction that occurred on Tuesday, April 16th. The stock was sold at an average price of $120.70, for a total transaction of $844,900.00. Following the completion of the sale, the chief executive officer now owns 719,049 shares in the company, valued at $86,789,214.30. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 306,890 shares of company stock worth $33,005,157. 0.32% of the stock is owned by corporate insiders.

Micron Technology Stock Down 0.6 %

MU stock traded down $0.68 during trading on Wednesday, reaching $111.78. The stock had a trading volume of 20,454,959 shares, compared to its average volume of 20,588,799. Micron Technology, Inc. has a one year low of $58.03 and a one year 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 company's 50 day moving average is $104.64 and its two-hundred day moving average is $87.69. The company has a market capitalization of $123.78 billion, a price-to-earnings ratio of -32.40 and a beta of 1.27.

Micron Technology (NASDAQ:MU - Get Free Report) last issued its quarterly earnings data on Wednesday, March 20th. The semiconductor manufacturer reported $0.42 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.27) by $0.69. Micron Technology had a negative net margin of 20.57% and a negative return on equity of 8.98%. The business had revenue of $5.82 billion during the quarter, compared to the consensus estimate of $5.35 billion. During the same period in the prior year, the firm posted ($2.03) EPS. The firm's quarterly revenue was up 57.7% compared to the same quarter last year. Equities research analysts forecast that Micron Technology, Inc. will post 0.24 EPS for the current year.

Micron Technology Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 16th. Investors of record on Monday, April 1st were paid a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.41%. The ex-dividend date of this dividend was Thursday, March 28th. Micron Technology's payout ratio is currently -13.33%.

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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