Inceptionr LLC Purchases Shares of 6,575 Micron Technology, Inc. (NASDAQ:MU)

Inceptionr LLC bought a new position in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) during the 4th quarter, according to its most recent disclosure with the SEC. The fund bought 6,575 shares of the semiconductor manufacturer's stock, valued at approximately $561,000.

Several other hedge funds have also recently made changes to their positions in the business. FMR LLC lifted its holdings in shares of Micron Technology by 47.9% in the third quarter. FMR LLC now owns 21,899,184 shares of the semiconductor manufacturer's stock worth $1,489,801,000 after buying an additional 7,089,790 shares in the last quarter. Wellington Management Group LLP lifted its stake in Micron Technology by 43.4% in the third quarter. Wellington Management Group LLP now owns 17,383,628 shares of the semiconductor manufacturer's stock worth $1,182,608,000 after acquiring an additional 5,257,201 shares during the period. Morgan Stanley lifted its position in Micron Technology by 19.7% during the third quarter. Morgan Stanley now owns 17,303,400 shares of the semiconductor manufacturer's stock valued at $1,177,151,000 after buying an additional 2,852,688 shares during the period. California Public Employees Retirement System raised its position in shares of Micron Technology by 125.0% in the 4th quarter. California Public Employees Retirement System now owns 4,541,662 shares of the semiconductor manufacturer's stock worth $387,585,000 after purchasing an additional 2,523,267 shares during the last quarter. Finally, Phoenix Holdings Ltd. increased its holdings in Micron Technology by 8,336.6% in the 3rd quarter. Phoenix Holdings Ltd. now owns 1,732,231 shares of the semiconductor manufacturer's stock worth $117,762,000 after buying an additional 1,753,262 shares in the last quarter. 80.84% of the stock is owned by institutional investors.

Micron Technology Stock Performance

NASDAQ MU traded down $2.60 during trading on Friday, hitting $125.29. 13,767,504 shares of the company's stock traded hands, compared to its average volume of 19,670,023. The stock has a market capitalization of $138.74 billion, a price-to-earnings ratio of -36.32 and a beta of 1.27. Micron Technology, Inc. has a 12-month low of $60.50 and a 12-month high of $130.54. 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 business has a 50 day moving average of $114.14 and a 200-day moving average of $93.12.

Micron Technology (NASDAQ:MU - Get Free Report) last announced its quarterly earnings results on Wednesday, March 20th. The semiconductor manufacturer reported $0.42 EPS for the quarter, topping 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 revenue was up 57.7% on a year-over-year basis. During the same quarter last year, the firm posted ($2.03) earnings per share. As a group, equities research analysts anticipate that Micron Technology, Inc. will post 0.24 earnings per share for the current fiscal year.

Micron Technology Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 16th. Shareholders of record on Monday, April 1st were issued a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.37%. The ex-dividend date of this dividend was Thursday, March 28th. Micron Technology's payout ratio is -13.33%.

Insider Transactions at Micron Technology

In related news, SVP Michael W. Bokan sold 15,000 shares of the company's stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $123.42, for a total transaction of $1,851,300.00. Following the completion of the sale, the senior vice president now owns 138,387 shares in the company, valued at $17,079,723.54. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Micron Technology news, SVP Michael W. Bokan sold 15,000 shares of the company's stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $123.42, for a total value of $1,851,300.00. Following the completion of the transaction, the senior vice president now directly owns 138,387 shares in the company, valued at $17,079,723.54. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP April S. Arnzen sold 4,890 shares of the 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 completion of the sale, 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 sold 417,446 shares of company stock worth $47,867,783 over the last quarter. 0.32% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on MU shares. Wells Fargo & Company upped their price objective on Micron Technology from $125.00 to $135.00 and gave the stock an "overweight" rating in a report on Thursday, March 21st. Piper Sandler increased their price target on Micron Technology from $95.00 to $130.00 and gave the company an "overweight" rating in a research note on Thursday, March 21st. Argus raised Micron Technology from a "hold" rating to a "buy" rating and set a $140.00 target price on the stock in a report on Thursday, March 21st. TD Cowen boosted their price target on Micron Technology from $120.00 to $150.00 and gave the stock an "outperform" rating in a research report on Thursday, March 21st. Finally, JPMorgan Chase & Co. boosted their price objective on Micron Technology from $105.00 to $130.00 and gave the stock an "overweight" rating in a research note on Thursday, March 21st. One analyst has rated the stock with a sell rating, one has assigned a hold rating and twenty-five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $125.64.

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.