NEOS Investment Management LLC Buys 28,108 Shares of Micron Technology, Inc. (NASDAQ:MU)

NEOS Investment Management LLC boosted its stake in shares of Micron Technology, Inc. (NASDAQ:MU) by 25.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 140,358 shares of the semiconductor manufacturer’s stock after acquiring an additional 28,108 shares during the quarter. NEOS Investment Management LLC’s holdings in Micron Technology were worth $11,813,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of MU. Beacon Capital Management LLC raised its stake in shares of Micron Technology by 114.9% during the fourth quarter. Beacon Capital Management LLC now owns 374 shares of the semiconductor manufacturer’s stock valued at $31,000 after acquiring an additional 200 shares during the last quarter. True Wealth Design LLC raised 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 valued at $33,000 after purchasing an additional 296 shares during the last quarter. Midwest Capital Advisors LLC purchased a new stake in Micron Technology in the 4th quarter worth approximately $33,000. Stone House Investment Management LLC grew its position 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 worth $34,000 after buying an additional 277 shares during the last quarter. Finally, Activest Wealth Management increased its stake in shares of Micron Technology by 583.3% during 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 during the period. 80.84% of the stock is currently owned by institutional investors.

Insider Activity

In other Micron Technology news, Director Mary Pat Mccarthy sold 2,404 shares of the firm’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $92.93, for a total value of $223,403.72. Following the transaction, 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 sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.30% of the stock is owned by corporate insiders.

Micron Technology Stock Performance

MU stock opened at $92.13 on Thursday. The stock’s 50 day simple moving average is $96.58 and its 200 day simple moving average is $98.41. 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, Inc. has a 12-month low of $83.54 and a 12-month high of $157.54. The stock has a market capitalization of $102.65 billion, a PE 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 (EPS) for the quarter, beating 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 firm had revenue of $8.05 billion for the quarter, compared to the consensus estimate of $7.93 billion. During the same period in the prior year, the company posted $0.42 earnings per share. The company’s quarterly revenue was up 38.2% on a year-over-year basis. As a group, research analysts forecast that Micron Technology, Inc. will post 6.08 earnings per share for the current fiscal year.

Micron Technology Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be paid a $0.115 dividend. The ex-dividend date is Monday, March 31st. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.50%. Micron Technology’s dividend payout ratio is presently 11.03%.

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. Mizuho cut their price target on shares of Micron Technology from $135.00 to $115.00 and set an “outperform” rating on the stock in a report on Thursday, December 19th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $130.00 target price on shares of Micron Technology in a research note on Friday, March 21st. Bank of America downgraded shares of Micron Technology from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $125.00 to $110.00 in a research note on Thursday, December 19th. JPMorgan Chase & Co. cut their price objective on Micron Technology from $145.00 to $135.00 and set an “overweight” rating on the stock in a research report on Friday, March 21st. Finally, Rosenblatt Securities decreased their target price on Micron Technology from $250.00 to $200.00 and set a “buy” rating for the company in a research report on Friday, March 21st. One investment analyst has rated the stock with a sell rating, three have given a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Micron Technology has an average rating of “Moderate Buy” and an average target price of $129.96.

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.