Murphy & Mullick Capital Management Corp Makes New Investment in Micron Technology, Inc. (NASDAQ:MU)

Murphy & Mullick Capital Management Corp bought a new stake in Micron Technology, Inc. (NASDAQ:MU) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 2,160 shares of the semiconductor manufacturer’s stock, valued at approximately $182,000.

Several other institutional investors also recently made changes to their positions in MU. Cerity Partners LLC increased its holdings in Micron Technology by 58.6% during the 3rd quarter. Cerity Partners LLC now owns 94,515 shares of the semiconductor manufacturer’s stock valued at $9,802,000 after acquiring an additional 34,938 shares in the last quarter. Algert Global LLC lifted its stake in shares of Micron Technology by 349.4% during the 3rd quarter. Algert Global LLC now owns 11,092 shares of the semiconductor manufacturer’s stock worth $1,150,000 after purchasing an additional 8,624 shares during the period. Larson Financial Group LLC boosted its holdings in shares of Micron Technology by 885.5% during the third quarter. Larson Financial Group LLC now owns 1,360 shares of the semiconductor manufacturer’s stock worth $141,000 after purchasing an additional 1,222 shares during the last quarter. Fisher Asset Management LLC lifted its position in Micron Technology by 6.5% during the third quarter. Fisher Asset Management LLC now owns 50,470 shares of the semiconductor manufacturer’s stock worth $5,234,000 after buying an additional 3,069 shares during the period. Finally, The Manufacturers Life Insurance Company boosted its stake in Micron Technology by 2.8% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 1,726,755 shares of the semiconductor manufacturer’s stock worth $179,113,000 after buying an additional 47,653 shares during the last quarter. 80.84% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Mary Pat Mccarthy sold 2,404 shares of Micron Technology stock in a transaction that occurred 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 owns 27,358 shares of the company’s stock, valued at approximately $2,542,378.94. The trade was a 8.08 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.30% of the company’s stock.

Micron Technology Price Performance

MU opened at $92.13 on Thursday. 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 company’s 50-day moving average price is $96.58 and its 200 day moving average price is $98.41. Micron Technology, Inc. has a fifty-two week low of $83.54 and a fifty-two week high of $157.54. The firm has a market cap of $102.65 billion, a price-to-earnings ratio of 26.55 and a beta of 1.23.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings results 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 business had revenue of $8.05 billion for the quarter, compared to analysts’ expectations of $7.93 billion. During the same period in the prior 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 expect that Micron Technology, Inc. will post 6.08 earnings per share for the current year.

Micron Technology Dividend Announcement

The business also recently announced 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. This represents a $0.46 dividend on an annualized basis and a yield of 0.50%. The ex-dividend date is Monday, March 31st. Micron Technology’s payout ratio is 11.03%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on MU. Mizuho dropped their price objective on Micron Technology from $135.00 to $115.00 and set an “outperform” rating for the company in a report on Thursday, December 19th. Morgan Stanley boosted their target price on shares of Micron Technology from $91.00 to $112.00 and gave the stock an “equal weight” rating in a research report on Friday, March 21st. UBS Group raised their price target on shares of Micron Technology from $125.00 to $130.00 and gave the company a “buy” rating in a report on Monday, March 17th. Wells Fargo & Company decreased their price objective on shares of Micron Technology from $140.00 to $130.00 and set an “overweight” rating for the company in a research report on Thursday, March 13th. Finally, Sanford C. Bernstein dropped their target price on Micron Technology from $140.00 to $120.00 and set an “outperform” rating on the stock in a research report on Wednesday, December 18th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $129.96.

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.