Mach 1 Financial Group LLC Takes Position in Micron Technology, Inc. (NASDAQ:MU)

Mach 1 Financial Group LLC acquired a new stake in Micron Technology, Inc. (NASDAQ:MU - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 8,684 shares of the semiconductor manufacturer's stock, valued at approximately $741,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. OFI Invest Asset Management acquired a new stake in shares of Micron Technology during the 3rd quarter worth approximately $27,000. Annis Gardner Whiting Capital Advisors LLC acquired a new stake in shares of Micron Technology during the 3rd quarter worth approximately $28,000. 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 buying an additional 198 shares during the period. 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 buying an additional 200 shares during the period. 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 buying an additional 251 shares during the period. Institutional investors and hedge funds own 80.84% of the company's stock.

Insiders Place Their Bets

In other news, CEO Sanjay Mehrotra sold 45,000 shares of Micron Technology stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $100.00, for a total value of $4,500,000.00. Following the completion of the transaction, the chief executive officer now owns 773,557 shares in the company, valued at approximately $77,355,700. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, CEO Sanjay Mehrotra sold 45,000 shares of Micron Technology stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $100.00, for a total value of $4,500,000.00. Following the completion of the transaction, the chief executive officer now owns 773,557 shares in the company, valued at approximately $77,355,700. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP April S. Arnzen sold 4,890 shares of Micron Technology stock in a transaction that occurred 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 completion of the transaction, the executive vice president now 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. Insiders have sold a total of 261,890 shares of company stock valued at $29,129,527 in the last quarter. 0.32% of the stock is currently owned by insiders.

Micron Technology Stock Performance

MU traded down $1.40 during midday trading on Tuesday, reaching $112.96. The company had a trading volume of 14,819,938 shares, compared to its average volume of 20,418,855. 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 has a 50-day moving average of $107.28 and a two-hundred day moving average of $89.05. The company has a market cap of $125.09 billion, a P/E ratio of -32.74 and a beta of 1.27. Micron Technology, Inc. has a 1 year low of $59.55 and a 1 year high of $130.54.

Micron Technology (NASDAQ:MU - Get Free Report) last released its earnings results on Wednesday, March 20th. The semiconductor manufacturer reported $0.42 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $5.82 billion during the quarter, compared to analysts' expectations of $5.35 billion. During the same quarter last year, the business posted ($2.03) earnings per share. The firm's revenue was up 57.7% on a year-over-year basis. As a group, equities research analysts predict that Micron Technology, Inc. will post 0.24 earnings per share for the current fiscal year.

Micron Technology Dividend Announcement

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

Analyst Ratings Changes

MU has been the topic of a number of recent research reports. Wells Fargo & Company increased their target price on Micron Technology from $125.00 to $135.00 and gave the stock an "overweight" rating in a report on Thursday, March 21st. Morgan Stanley increased their target price on Micron Technology from $78.00 to $98.00 and gave the stock an "underweight" rating in a report on Thursday, March 21st. Fox Advisors upgraded Micron Technology from an "equal weight" rating to an "overweight" rating in a research note on Thursday, March 21st. Piper Sandler raised their price objective on Micron Technology from $95.00 to $130.00 and gave the company an "overweight" rating in a research note on Thursday, March 21st. Finally, Citigroup restated a "buy" rating and set a $150.00 price objective on shares of Micron Technology in a research note on Thursday, April 4th. One 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 stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $122.20.

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.

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