Quinn Opportunity Partners LLC Takes $505,000 Position in Micron Technology, Inc. (NASDAQ:MU)

Quinn Opportunity Partners LLC bought a new stake in shares of Micron Technology, Inc. (NASDAQ:MU) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 6,000 shares of the semiconductor manufacturer’s stock, valued at approximately $505,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Beacon Capital Management LLC lifted its stake 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 during the last quarter. Midwest Capital Advisors LLC purchased a new stake in shares of Micron Technology in the fourth quarter worth approximately $33,000. Activest Wealth Management lifted its stake in shares of Micron Technology by 583.3% during the 4th quarter. Activest Wealth Management now owns 410 shares of the semiconductor manufacturer’s stock worth $34,000 after acquiring an additional 350 shares during the last quarter. Comprehensive Financial Planning Inc. PA purchased a new position in Micron Technology during the 4th quarter valued at $34,000. Finally, Curio Wealth LLC purchased a new position in Micron Technology during the 4th quarter valued at $34,000. Hedge funds and other institutional investors own 80.84% of the company’s stock.

Analyst Ratings Changes

MU has been the subject of several research analyst reports. Mizuho decreased their target price on Micron Technology from $135.00 to $115.00 and set an “outperform” rating for the company in a research report on Thursday, December 19th. Wedbush reaffirmed an “outperform” rating and issued a $125.00 price target on shares of Micron Technology in a research note on Monday, March 17th. Stifel Nicolaus lowered their price objective on shares of Micron Technology from $135.00 to $130.00 and set a “buy” rating for the company in a research report on Thursday, December 19th. Citigroup reduced their target price on shares of Micron Technology from $120.00 to $110.00 and set a “buy” rating on the stock in a research report on Friday. Finally, Needham & Company LLC decreased their price target on shares of Micron Technology from $140.00 to $120.00 and set a “buy” rating for the company in a research note on Thursday, December 19th. One analyst has rated the stock with a sell rating, three have given a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Micron Technology presently has an average rating of “Moderate Buy” and a consensus target price of $129.36.

Insiders Place Their Bets

In other Micron Technology news, EVP April S. Arnzen sold 15,000 shares of the firm’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 transaction 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 position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Mary Pat Mccarthy sold 2,404 shares of the 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 completion of the sale, the director now owns 27,358 shares in the company, valued at $2,542,378.94. The trade was a 8.08 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.30% of the company’s stock.

Micron Technology Trading Down 0.7 %

NASDAQ:MU opened at $69.55 on Friday. The stock has a market capitalization of $77.73 billion, a price-to-earnings ratio of 20.04 and a beta of 1.18. Micron Technology, Inc. has a 52 week low of $61.54 and a 52 week high of $157.54. The company has a quick ratio of 1.75, a current ratio of 2.72 and a debt-to-equity ratio of 0.28. The firm has a 50 day moving average of $90.66 and a 200 day moving average of $97.09.

Micron Technology (NASDAQ:MU) last posted its quarterly earnings data 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. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. The firm had revenue of $8.05 billion during the quarter, compared to analysts’ expectations of $7.93 billion. During the same quarter last year, the firm earned $0.42 EPS. The business’s quarterly revenue was up 38.2% on a year-over-year basis. As a group, sell-side analysts anticipate that Micron Technology, Inc. will post 6.08 earnings per share for the current fiscal year.

Micron Technology Announces Dividend

The business 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 dividend of $0.115 per share. The ex-dividend date is Monday, March 31st. This represents a $0.46 dividend on an annualized basis and a yield of 0.66%. Micron Technology’s payout ratio is 11.03%.

Micron Technology 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.