Postrock Partners LLC Makes New $464,000 Investment in Micron Technology, Inc. (NASDAQ:MU)

Postrock Partners LLC bought a new stake in Micron Technology, Inc. (NASDAQ:MU) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 5,510 shares of the semiconductor manufacturer’s stock, valued at approximately $464,000.

A number of other institutional investors have also modified their holdings of MU. Beacon Capital Management LLC raised its holdings in Micron Technology by 114.9% during 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 in the last quarter. True Wealth Design LLC increased its position in Micron Technology by 1,096.3% during the 3rd quarter. True Wealth Design LLC now owns 323 shares of the semiconductor manufacturer’s stock worth $33,000 after purchasing an additional 296 shares during the period. Midwest Capital Advisors LLC purchased a new position in shares of Micron Technology during the 4th quarter worth approximately $33,000. Stone House Investment Management LLC lifted its holdings in shares of Micron Technology by 602.2% in the 3rd quarter. Stone House Investment Management LLC now owns 323 shares of the semiconductor manufacturer’s stock valued at $34,000 after buying an additional 277 shares during the period. Finally, Activest Wealth Management boosted its stake in shares of Micron Technology by 583.3% in the fourth quarter. Activest Wealth Management now owns 410 shares of the semiconductor manufacturer’s stock valued at $34,000 after buying an additional 350 shares in the last quarter. Institutional investors and hedge funds own 80.84% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have issued reports on MU shares. Rosenblatt Securities reiterated a “buy” rating and issued a $250.00 price objective on shares of Micron Technology in a research report on Wednesday, December 18th. Morgan Stanley cut their price target on shares of Micron Technology from $98.00 to $91.00 and set an “equal weight” rating for the company in a report on Tuesday, January 28th. TD Cowen decreased their price objective on shares of Micron Technology from $135.00 to $125.00 and set a “buy” rating on the stock in a report on Thursday, December 19th. Robert W. Baird dropped their target price on shares of Micron Technology from $150.00 to $130.00 and set an “outperform” rating for the company in a report on Thursday, December 19th. Finally, UBS Group decreased their price target on Micron Technology from $135.00 to $125.00 and set a “buy” rating on the stock in a research note on Thursday, December 19th. One research analyst has rated the stock with a sell rating, three have given a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $134.56.

Insider Activity at Micron Technology

In other news, EVP April S. Arnzen sold 4,890 shares of the firm’s stock in a transaction on Friday, December 20th. The shares were sold at an average price of $85.21, for a total value of $416,676.90. Following the transaction, the executive vice president now owns 181,223 shares of the company’s stock, valued at approximately $15,442,011.83. This trade represents a 2.63 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Mary Pat Mccarthy sold 2,404 shares of the company’s 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 sale, the director now directly owns 27,358 shares of the company’s stock, valued at approximately $2,542,378.94. This trade represents a 8.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.30% of the stock is owned by insiders.

Micron Technology Stock Performance

Micron Technology stock opened at $94.88 on Friday. The stock has a fifty day moving average price of $96.50 and a 200 day moving average price of $98.04. Micron Technology, Inc. has a 52 week low of $83.54 and a 52 week high of $157.54. The firm has a market capitalization of $105.71 billion, a P/E ratio of 27.34 and a beta of 1.23. 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 posted its quarterly earnings data on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 EPS for the quarter, beating analysts’ consensus estimates of $1.60 by $0.19. Micron Technology had a net margin of 13.34% and a return on equity of 8.32%. The company had revenue of $8.71 billion during the quarter, compared to the consensus estimate of $8.71 billion. During the same quarter in the prior year, the company posted ($0.95) EPS. The company’s quarterly revenue was up 84.3% compared to the same quarter last year. Equities research analysts anticipate that Micron Technology, Inc. will post 6.08 earnings per share for the current year.

Micron Technology Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Monday, December 30th were issued a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a yield of 0.48%. The ex-dividend date was Monday, December 30th. Micron Technology’s payout ratio is currently 13.26%.

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.