Simon Quick Advisors LLC Has $361,000 Stake in Micron Technology, Inc. (NASDAQ:MU)

Simon Quick Advisors LLC raised its position in Micron Technology, Inc. (NASDAQ:MU) by 6.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,294 shares of the semiconductor manufacturer’s stock after buying an additional 253 shares during the quarter. Simon Quick Advisors LLC’s holdings in Micron Technology were worth $361,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in MU. Gabelli Funds LLC grew its position in Micron Technology by 1.8% in the second quarter. Gabelli Funds LLC now owns 22,705 shares of the semiconductor manufacturer’s stock valued at $2,986,000 after acquiring an additional 405 shares during the last quarter. Public Sector Pension Investment Board grew its holdings in shares of Micron Technology by 73.2% during the 2nd quarter. Public Sector Pension Investment Board now owns 42,583 shares of the semiconductor manufacturer’s stock valued at $5,601,000 after purchasing an additional 17,997 shares during the last quarter. Magnetar Financial LLC acquired a new position in Micron Technology during the 2nd quarter worth approximately $231,000. Insigneo Advisory Services LLC lifted its stake in Micron Technology by 21.8% in the 2nd quarter. Insigneo Advisory Services LLC now owns 10,463 shares of the semiconductor manufacturer’s stock valued at $1,376,000 after purchasing an additional 1,874 shares during the last quarter. Finally, AlTi Global Inc. boosted its position in Micron Technology by 4.8% in the second quarter. AlTi Global Inc. now owns 3,766 shares of the semiconductor manufacturer’s stock valued at $495,000 after buying an additional 172 shares in the last quarter. 80.84% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

MU has been the subject of a number of research reports. Robert W. Baird dropped their price target on Micron Technology from $150.00 to $130.00 and set an “outperform” rating for the company in a research note on Thursday, December 19th. The Goldman Sachs Group dropped their target price on Micron Technology from $145.00 to $128.00 and set a “buy” rating for the company in a research report on Thursday, December 19th. Raymond James boosted their price target on Micron Technology from $125.00 to $140.00 and gave the stock an “outperform” rating in a report on Thursday, September 26th. Rosenblatt Securities reiterated a “buy” rating and set a $250.00 target price on shares of Micron Technology in a research report on Wednesday, December 18th. Finally, KeyCorp reduced their target price on shares of Micron Technology from $145.00 to $135.00 and set an “overweight” rating on the stock in a report on Tuesday, October 8th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-three have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $135.24.

Micron Technology Price Performance

Shares of NASDAQ MU opened at $104.84 on Friday. 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 firm’s 50-day moving average price is $98.11 and its 200-day moving average price is $101.70. The firm has a market capitalization of $116.81 billion, a P/E ratio of 30.21 and a beta of 1.18. Micron Technology, Inc. has a 1-year low of $79.15 and a 1-year high of $157.54.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings results on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.60 by $0.19. The business had revenue of $8.71 billion for the quarter, compared to analyst estimates of $8.71 billion. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. The company’s quarterly revenue was up 84.3% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.95) earnings per share. Equities research analysts anticipate that Micron Technology, Inc. will post 6.25 earnings per share for the current fiscal year.

Micron Technology Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Monday, December 30th were paid a dividend of $0.115 per share. The ex-dividend date of this dividend was Monday, December 30th. This represents a $0.46 dividend on an annualized basis and a yield of 0.44%. Micron Technology’s dividend payout ratio (DPR) is presently 13.26%.

Insiders Place Their Bets

In related news, EVP April S. Arnzen sold 4,890 shares of Micron Technology stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $85.21, for a total transaction of $416,676.90. Following the transaction, the executive vice president now owns 181,223 shares of the company’s stock, valued at $15,442,011.83. The trade was a 2.63 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.30% of the company’s stock.

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.