GAMMA Investing LLC Makes New $709,000 Investment in Micron Technology, Inc. (NASDAQ:MU)

GAMMA Investing LLC acquired a new position in Micron Technology, Inc. (NASDAQ:MU) during the 4th quarter, according to its most recent filing with the SEC. The fund acquired 8,263 shares of the semiconductor manufacturer’s stock, valued at approximately $709,000.

Several other institutional investors have also recently added to or reduced their stakes in MU. Annis Gardner Whiting Capital Advisors LLC purchased a new stake in shares of Micron Technology during the 3rd quarter worth about $28,000. OFI Invest Asset Management purchased a new position in shares of Micron Technology during the 3rd quarter valued at approximately $27,000. VisionPoint Advisory Group LLC raised its position in shares of Micron Technology by 68.3% during the 3rd quarter. VisionPoint Advisory Group LLC now owns 488 shares of the semiconductor manufacturer’s stock valued at $33,000 after acquiring an additional 198 shares in the last quarter. Cape Investment Advisory Inc. boosted its holdings in shares of Micron Technology by 51.0% during the third quarter. Cape Investment Advisory Inc. now owns 592 shares of the semiconductor manufacturer’s stock valued at $40,000 after acquiring an additional 200 shares during the period. Finally, Clear Street Markets LLC raised its stake in shares of Micron Technology by 67.5% during the third quarter. Clear Street Markets LLC now owns 623 shares of the semiconductor manufacturer’s stock valued at $42,000 after purchasing an additional 251 shares in the last quarter. Institutional investors and hedge funds own 80.84% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on MU shares. Bank of America lifted their price objective on shares of Micron Technology from $120.00 to $144.00 and gave the company a “buy” rating in a research note on Monday, April 1st. Fox Advisors upgraded shares of Micron Technology from an “equal weight” rating to an “overweight” rating in a research report on Thursday, March 21st. Wedbush boosted their price target on shares of Micron Technology from $103.00 to $130.00 and gave the stock an “outperform” rating in a research report on Thursday, March 21st. Mizuho boosted their price target on shares of Micron Technology from $105.00 to $124.00 and gave the stock a “buy” rating in a research report on Thursday, March 21st. Finally, Needham & Company LLC boosted their price target on shares of Micron Technology from $100.00 to $120.00 and gave the stock a “buy” rating in a research report on Thursday, March 21st. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-four have given a buy rating to the stock. According to MarketBeat.com, Micron Technology currently has an average rating of “Moderate Buy” and an average price target of $122.20.

Insider Activity at Micron Technology

In other Micron Technology news, CEO Sanjay Mehrotra sold 7,000 shares of the company’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $80.44, for a total value of $563,080.00. Following the sale, the chief executive officer now directly owns 788,557 shares in the company, valued at $63,431,525.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, 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 transaction of $583,377.00. Following the sale, the executive vice president now owns 148,817 shares in the company, valued at $17,753,868.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Sanjay Mehrotra sold 7,000 shares of the firm’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $80.44, for a total value of $563,080.00. Following the completion of the transaction, the chief executive officer now owns 788,557 shares in the company, valued at approximately $63,431,525.08. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 306,890 shares of company stock worth $33,005,157. 0.32% of the stock is owned by corporate insiders.

Micron Technology Stock Performance

Micron Technology stock traded up $3.34 during trading hours on Tuesday, reaching $112.46. 17,854,605 shares of the company were exchanged, compared to its average volume of 20,590,105. The firm has a market cap of $124.53 billion, a price-to-earnings ratio of -32.60 and a beta of 1.27. The company has a current ratio of 3.74, a quick ratio of 2.40 and a debt-to-equity ratio of 0.30. The stock has a 50-day moving average of $103.42 and a 200 day moving average of $87.22. Micron Technology, Inc. has a 12 month low of $58.03 and a 12 month high of $130.54.

Micron Technology (NASDAQ:MU) last announced its earnings results on Wednesday, March 20th. The semiconductor manufacturer reported $0.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.69. The firm had revenue of $5.82 billion during the quarter, compared to analysts’ expectations of $5.35 billion. Micron Technology had a negative return on equity of 8.98% and a negative net margin of 20.57%. The company’s revenue was up 57.7% on a year-over-year basis. During the same quarter in the prior year, the business earned ($2.03) earnings per share. As a group, research analysts anticipate that Micron Technology, Inc. will post 0.24 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 16th. Stockholders of record on Monday, April 1st were issued a dividend of $0.115 per share. The ex-dividend date was Thursday, March 28th. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.41%. Micron Technology’s dividend payout ratio (DPR) is presently -13.33%.

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.