Mach 1 Financial Group LLC Invests $741,000 in Micron Technology, Inc. (NASDAQ:MU)

Mach 1 Financial Group LLC purchased a new position in shares of Micron Technology, Inc. (NASDAQ:MU) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 8,684 shares of the semiconductor manufacturer’s stock, valued at approximately $741,000.

Several other hedge funds and other institutional investors have also modified their holdings of MU. OFI Invest Asset Management purchased a new position in Micron Technology in the third quarter valued at $27,000. Annis Gardner Whiting Capital Advisors LLC acquired a new stake in Micron Technology in the third quarter valued at $28,000. VisionPoint Advisory Group LLC raised its stake in Micron Technology by 68.3% in the third quarter. VisionPoint Advisory Group LLC now owns 488 shares of the semiconductor manufacturer’s stock valued at $33,000 after buying an additional 198 shares in the last quarter. Cape Investment Advisory Inc. raised its stake in Micron Technology by 51.0% in the third quarter. Cape Investment Advisory Inc. now owns 592 shares of the semiconductor manufacturer’s stock valued at $40,000 after buying an additional 200 shares in the last quarter. Finally, Clear Street Markets LLC increased its position 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 worth $42,000 after purchasing an additional 251 shares in the last quarter. 80.84% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on MU shares. KeyCorp lifted their target price on Micron Technology from $135.00 to $150.00 and gave the stock an “overweight” rating in a research report on Monday, April 8th. Barclays lifted their target price on Micron Technology from $95.00 to $120.00 and gave the stock an “overweight” rating in a research report on Monday, March 18th. JPMorgan Chase & Co. lifted their target price on Micron Technology from $105.00 to $130.00 and gave the stock an “overweight” rating in a research report on Thursday, March 21st. Cantor Fitzgerald lifted their target price on Micron Technology from $135.00 to $150.00 and gave the stock an “overweight” rating in a research report on Monday, April 8th. Finally, Raymond James lifted their target price on Micron Technology from $90.00 to $100.00 and gave the stock an “outperform” rating in a research report on Friday, January 19th. One 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, the company presently has an average rating of “Moderate Buy” and an average price target of $122.20.

Micron Technology Price Performance

MU stock traded down $1.40 on Tuesday, reaching $112.96. The company had a trading volume of 14,819,938 shares, compared to its average volume of 20,418,855. Micron Technology, Inc. has a 1 year low of $59.55 and a 1 year high of $130.54. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.40 and a current ratio of 3.74. The company’s fifty day moving average is $107.28 and its 200 day moving average is $89.05. The company has a market cap of $125.09 billion, a P/E ratio of -32.74 and a beta of 1.27.

Micron Technology (NASDAQ:MU) last posted its earnings results on Wednesday, March 20th. The semiconductor manufacturer reported $0.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.69. Micron Technology had a negative return on equity of 8.98% and a negative net margin of 20.57%. The firm had revenue of $5.82 billion for the quarter, compared to analyst estimates of $5.35 billion. During the same quarter in the prior year, the company earned ($2.03) EPS. Micron Technology’s revenue was up 57.7% on a year-over-year basis. On average, research analysts forecast that Micron Technology, Inc. will post 0.24 earnings per share for the current year.

Micron Technology Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 16th. Investors of record on Monday, April 1st were paid a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a yield of 0.41%. The ex-dividend date was Thursday, March 28th. Micron Technology’s payout ratio is currently -13.33%.

Insider Buying and Selling at Micron Technology

In other Micron Technology news, CEO Sanjay Mehrotra sold 7,000 shares of the business’s stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $84.84, for a total value of $593,880.00. Following the completion of the transaction, the chief executive officer now directly owns 788,557 shares in the company, valued at approximately $66,901,175.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Micron Technology news, CEO Sanjay Mehrotra sold 7,000 shares of the business’s stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $84.84, for a total value of $593,880.00. Following the completion of the transaction, the chief executive officer now directly owns 788,557 shares in the company, valued at approximately $66,901,175.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP April S. Arnzen sold 4,890 shares of the business’s stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $119.30, for a total value of $583,377.00. Following the completion of the transaction, the executive vice president now owns 148,817 shares of the company’s stock, valued at $17,753,868.10. The disclosure for this sale can be found here. In the last three months, insiders sold 261,890 shares of company stock worth $29,129,527. Insiders own 0.32% of the company’s stock.

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.