Susquehanna Fundamental Investments LLC Makes New $17.03 Million Investment in Micron Technology, Inc. (NASDAQ:MU)

Susquehanna Fundamental Investments LLC bought a new position in Micron Technology, Inc. (NASDAQ:MU - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 202,347 shares of the semiconductor manufacturer's stock, valued at approximately $17,030,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Beacon Capital Management LLC boosted its holdings in Micron Technology by 114.9% in the fourth quarter. Beacon Capital Management LLC now owns 374 shares of the semiconductor manufacturer's stock worth $31,000 after purchasing an additional 200 shares in the last quarter. Midwest Capital Advisors LLC acquired a new position in shares of Micron Technology during the 4th quarter valued at about $33,000. Activest Wealth Management grew its holdings in Micron Technology by 583.3% during the fourth quarter. Activest Wealth Management now owns 410 shares of the semiconductor manufacturer's stock valued at $34,000 after purchasing an additional 350 shares during the last quarter. Comprehensive Financial Planning Inc. PA bought a new position in shares of Micron Technology in the fourth quarter valued at approximately $34,000. Finally, Curio Wealth LLC bought a new stake in shares of Micron Technology during the 4th quarter worth $34,000. 80.84% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently commented on MU shares. UBS Group dropped their target price on shares of Micron Technology from $130.00 to $92.00 and set a "buy" rating on the stock in a report on Monday. Barclays decreased their target price on Micron Technology from $115.00 to $95.00 and set an "overweight" rating for the company in a research note on Tuesday, April 22nd. Wedbush reaffirmed an "underperform" rating on shares of Micron Technology in a report on Monday. Citigroup cut their price target on Micron Technology from $120.00 to $110.00 and set a "buy" rating for the company in a report on Friday, April 11th. Finally, Royal Bank of Canada set a $125.00 price objective on shares of Micron Technology in a research note on Wednesday, March 19th. Two analysts have rated the stock with a sell rating, four have given a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $127.04.

Insider Buying and Selling

In other Micron Technology news, EVP April S. Arnzen sold 15,000 shares of the company's stock in a transaction that occurred on Tuesday, March 25th. The shares were sold at an average price of $96.18, for a total value of $1,442,700.00. Following the completion of the sale, the executive vice president now owns 164,769 shares of the company's stock, valued at approximately $15,847,482.42. This represents a 8.34 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Mary Pat Mccarthy sold 2,404 shares of the stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $92.93, for a total value of $223,403.72. Following the completion of the sale, the director now owns 27,358 shares of the company's stock, valued at $2,542,378.94. This trade represents a 8.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.30% of the stock is currently owned by insiders.

Micron Technology Price Performance

Shares of Micron Technology stock traded down $1.58 during midday trading on Wednesday, reaching $75.30. The company had a trading volume of 11,014,298 shares, compared to its average volume of 23,220,025. The company has a current ratio of 2.72, a quick ratio of 1.75 and a debt-to-equity ratio of 0.28. The stock has a fifty day simple moving average of $84.67 and a 200 day simple moving average of $94.50. Micron Technology, Inc. has a 1-year low of $61.54 and a 1-year high of $157.54. The company has a market capitalization of $84.15 billion, a price-to-earnings ratio of 21.70 and a beta of 1.18.

Micron Technology (NASDAQ:MU - Get Free Report) last released its earnings results on Thursday, March 20th. The semiconductor manufacturer reported $1.56 earnings per share for the quarter, topping analysts' consensus estimates of $1.43 by $0.13. The company had revenue of $8.05 billion during the quarter, compared to the consensus estimate of $7.93 billion. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. The firm's quarterly revenue was up 38.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.42 earnings per share. As a group, equities research analysts forecast that Micron Technology, Inc. will post 6.08 earnings per share for the current year.

Micron Technology Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were given a dividend of $0.115 per share. This represents a $0.46 annualized dividend and a dividend yield of 0.61%. The ex-dividend date was Monday, March 31st. Micron Technology's dividend payout ratio is 11.03%.

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.