Nemes Rush Group LLC Purchases New Position in Micron Technology, Inc. (NASDAQ:MU)

Nemes Rush Group LLC acquired a new position in shares of Micron Technology, Inc. (NASDAQ:MU) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 475 shares of the semiconductor manufacturer’s stock, valued at approximately $40,000.

Other hedge funds also recently modified their holdings of the company. E Fund Management Co. Ltd. lifted its position in Micron Technology by 31.8% during the 4th quarter. E Fund Management Co. Ltd. now owns 36,378 shares of the semiconductor manufacturer’s stock worth $3,062,000 after buying an additional 8,780 shares in the last quarter. Stablepoint Partners LLC acquired a new position in shares of Micron Technology during the fourth quarter worth approximately $569,000. State Street Corp grew its stake in shares of Micron Technology by 3.1% during the third quarter. State Street Corp now owns 48,226,710 shares of the semiconductor manufacturer’s stock valued at $5,001,592,000 after purchasing an additional 1,434,568 shares during the last quarter. Main Management ETF Advisors LLC acquired a new stake in shares of Micron Technology in the third quarter valued at approximately $2,414,000. Finally, Fort Washington Investment Advisors Inc. OH raised its position in Micron Technology by 11.7% in the 4th quarter. Fort Washington Investment Advisors Inc. OH now owns 502,374 shares of the semiconductor manufacturer’s stock worth $42,280,000 after purchasing an additional 52,729 shares during the last quarter. Institutional investors and hedge funds own 80.84% of the company’s stock.

Micron Technology Stock Performance

MU opened at $88.60 on Thursday. The company has a market capitalization of $99.02 billion, a price-to-earnings ratio of 25.53 and a beta of 1.23. The business’s 50-day moving average price is $94.80 and its two-hundred day moving average price is $98.42. Micron Technology, Inc. has a 1 year low of $82.42 and a 1 year high of $157.54. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.72 and a quick ratio of 1.75.

Micron Technology (NASDAQ:MU) last released its earnings results on Thursday, March 20th. The semiconductor manufacturer reported $1.56 EPS for the quarter, beating the consensus estimate of $1.43 by $0.13. The firm had revenue of $8.05 billion for the quarter, compared to analysts’ expectations of $7.93 billion. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. The business’s quarterly revenue was up 38.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.42 EPS. Equities analysts expect that Micron Technology, Inc. will post 6.08 EPS for the current fiscal year.

Micron Technology Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be paid a $0.115 dividend. The ex-dividend date is Monday, March 31st. This represents a $0.46 annualized dividend and a yield of 0.52%. Micron Technology’s payout ratio is currently 11.03%.

Wall Street Analysts Forecast Growth

MU has been the subject of several research reports. KGI Securities raised Micron Technology to a “strong-buy” rating in a research note on Friday, February 21st. The Goldman Sachs Group lowered their price objective 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. Morgan Stanley upped their target price on shares of Micron Technology from $91.00 to $112.00 and gave the company an “equal weight” rating in a research report on Friday, March 21st. JPMorgan Chase & Co. lowered their price target on shares of Micron Technology from $145.00 to $135.00 and set an “overweight” rating for the company in a research report on Friday, March 21st. Finally, Wedbush restated an “outperform” rating and issued a $125.00 price objective on shares of Micron Technology in a report on Monday, March 17th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Micron Technology has an average rating of “Moderate Buy” and an average target price of $129.76.

Insiders Place Their Bets

In related news, EVP April S. Arnzen sold 15,000 shares of the firm’s stock in a transaction 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 transaction, the executive vice president now directly owns 164,769 shares of the company’s stock, valued at approximately $15,847,482.42. This trade represents a 8.34 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Mary Pat Mccarthy sold 2,404 shares of the company’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $92.93, for a total transaction of $223,403.72. Following the sale, the director now directly owns 27,358 shares in the company, 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. Insiders own 0.30% of the company’s stock.

About Micron Technology

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.