Los Angeles Capital Management LLC Buys 21,256 Shares of Micron Technology, Inc. (NASDAQ:MU)

Los Angeles Capital Management LLC grew its stake in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) by 130.2% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 37,586 shares of the semiconductor manufacturer's stock after buying an additional 21,256 shares during the period. Los Angeles Capital Management LLC's holdings in Micron Technology were worth $3,208,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. OFI Invest Asset Management purchased a new stake in Micron Technology during the 3rd quarter worth $27,000. Annis Gardner Whiting Capital Advisors LLC acquired a new position in shares of Micron Technology in the third quarter worth about $28,000. VisionPoint Advisory Group LLC boosted its holdings in Micron Technology by 68.3% in the third quarter. VisionPoint Advisory Group LLC now owns 488 shares of the semiconductor manufacturer's stock valued at $33,000 after purchasing an additional 198 shares during the last quarter. Cape Investment Advisory Inc. grew its stake in Micron Technology by 51.0% during the 3rd quarter. Cape Investment Advisory Inc. now owns 592 shares of the semiconductor manufacturer's stock valued at $40,000 after purchasing an additional 200 shares in the last quarter. Finally, Clear Street Markets LLC increased its holdings in 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 during the last quarter. 80.84% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on MU shares. Robert W. Baird upgraded Micron Technology from a "neutral" rating to an "outperform" rating and raised their price objective for the stock from $115.00 to $150.00 in a research note on Monday. Needham & Company LLC boosted their price objective on shares of Micron Technology from $100.00 to $120.00 and gave the company a "buy" rating in a research report on Thursday, March 21st. Argus upgraded Micron Technology from a "hold" rating to a "buy" rating and set a $140.00 price objective for the company in a research report on Thursday, March 21st. Mizuho raised their target price on Micron Technology from $105.00 to $124.00 and gave the company a "buy" rating in a research note on Thursday, March 21st. Finally, Rosenblatt Securities reaffirmed a "buy" rating and issued a $140.00 price objective on shares of Micron Technology in a report on Monday, March 18th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and twenty-five have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $123.60.

Insider Activity at Micron Technology

In related news, CEO Sanjay Mehrotra sold 7,000 shares of Micron Technology stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $82.03, for a total transaction of $574,210.00. Following the completion of the sale, the chief executive officer now directly owns 788,557 shares of the company's stock, valued at $64,685,330.71. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of Micron Technology stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $119.30, for a total value of $583,377.00. Following the completion of the sale, the executive vice president now 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 available through the SEC website. Also, CEO Sanjay Mehrotra sold 7,000 shares of the stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $82.03, for a total transaction of $574,210.00. Following the transaction, the chief executive officer now owns 788,557 shares in the company, valued at approximately $64,685,330.71. The disclosure for this sale can be found here. Insiders have sold 323,890 shares of company stock worth $36,079,267 over the last ninety days. Company insiders own 0.32% of the company's stock.

Micron Technology Price Performance

Micron Technology stock traded up $5.43 during trading hours on Monday, hitting $120.13. 22,115,618 shares of the stock were exchanged, compared to its average volume of 20,287,666. Micron Technology, Inc. has a 12 month low of $59.55 and a 12 month high of $130.54. The business's 50-day moving average is $109.56 and its two-hundred day moving average is $90.33. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.40 and a current ratio of 3.74. The stock has a market capitalization of $132.62 billion, a P/E ratio of -34.82 and a beta of 1.27.

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

Micron Technology Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 16th. Stockholders of record on Monday, April 1st were given a dividend of $0.115 per share. This represents a $0.46 annualized dividend and a dividend yield of 0.38%. The ex-dividend date was 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.