Delta Capital Management LLC Has $3.27 Million Stake in Micron Technology, Inc. (NASDAQ:MU)

Delta Capital Management LLC trimmed its holdings in shares of Micron Technology, Inc. (NASDAQ:MU) by 3.8% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 37,655 shares of the semiconductor manufacturer’s stock after selling 1,490 shares during the period. Micron Technology comprises about 1.3% of Delta Capital Management LLC’s portfolio, making the stock its 21st biggest holding. Delta Capital Management LLC’s holdings in Micron Technology were worth $3,272,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of MU. Sunbeam Capital Management LLC bought a new stake in shares of Micron Technology in the fourth quarter valued at about $26,000. Beacon Capital Management LLC lifted its stake in shares of Micron Technology by 114.9% in the fourth quarter. Beacon Capital Management LLC now owns 374 shares of the semiconductor manufacturer’s stock valued at $31,000 after buying an additional 200 shares during the period. Midwest Capital Advisors LLC bought a new stake in shares of Micron Technology in the fourth quarter valued at about $33,000. Curio Wealth LLC bought a new stake in shares of Micron Technology in the fourth quarter valued at about $34,000. Finally, Hurley Capital LLC bought a new stake in shares of Micron Technology in the fourth quarter valued at about $37,000. 80.84% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director Mary Pat Mccarthy sold 2,404 shares of the stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $80.00, for a total value of $192,320.00. Following the completion of the transaction, the director now owns 24,954 shares of the company’s stock, valued at $1,996,320. This represents a 8.79% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP April S. Arnzen sold 15,000 shares of the stock in a transaction on Tuesday, March 25th. The stock was sold at an average price of $96.18, for a total transaction of $1,442,700.00. Following the sale, the executive vice president now 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 disclosure for this sale can be found here. Insiders have sold 44,904 shares of company stock valued at $4,665,124 in the last three months. 0.30% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research firms recently weighed in on MU. KGI Securities upgraded shares of Micron Technology to a “strong-buy” rating in a research note on Friday, February 21st. Citigroup increased their target price on shares of Micron Technology from $110.00 to $130.00 and gave the company a “buy” rating in a research note on Monday. UBS Group increased their price target on shares of Micron Technology from $92.00 to $120.00 and gave the stock a “buy” rating in a research report on Thursday, June 5th. China Renaissance lowered shares of Micron Technology from a “buy” rating to a “hold” rating and set a $84.00 price target for the company. in a research report on Wednesday, March 26th. Finally, Morgan Stanley dropped their price target on shares of Micron Technology from $112.00 to $98.00 and set an “equal weight” rating for the company in a research report on Wednesday, May 7th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $129.00.

Micron Technology Trading Up 0.1%

MU opened at $116.18 on Friday. The stock has a market capitalization of $129.84 billion, a P/E ratio of 33.48 and a beta of 1.28. Micron Technology, Inc. has a 12 month low of $61.54 and a 12 month high of $157.54. The firm’s fifty day simple moving average is $87.20 and its 200 day simple moving average is $92.51. The company has a current ratio of 2.72, a quick ratio of 1.75 and a debt-to-equity ratio of 0.28.

Micron Technology (NASDAQ:MU) last issued its quarterly earnings results on Thursday, March 20th. The semiconductor manufacturer reported $1.56 EPS for the quarter, topping the consensus estimate of $1.43 by $0.13. Micron Technology had a net margin of 13.34% and a return on equity of 8.32%. The firm had revenue of $8.05 billion for the quarter, compared to analysts’ expectations of $7.93 billion. During the same period in the previous year, the firm posted $0.42 EPS. The company’s revenue for the quarter was up 38.2% on a year-over-year basis. As a group, research analysts anticipate 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 was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were given a dividend of $0.115 per share. The ex-dividend date of this dividend was Monday, March 31st. This represents a $0.46 annualized dividend and a yield of 0.40%. Micron Technology’s dividend payout ratio (DPR) is presently 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.