Sapient Capital LLC Increases Stock Position in Micron Technology, Inc. (NASDAQ:MU)

Sapient Capital LLC lifted its holdings in Micron Technology, Inc. (NASDAQ:MU) by 5.8% in the 4th quarter, Holdings Channel.com reports. The firm owned 4,343 shares of the semiconductor manufacturer’s stock after acquiring an additional 240 shares during the quarter. Sapient Capital LLC’s holdings in Micron Technology were worth $366,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the business. Highline Wealth Partners LLC purchased a new stake in Micron Technology during the third quarter valued at approximately $26,000. Stone House Investment Management LLC lifted its position in Micron Technology by 602.2% during the third quarter. Stone House Investment Management LLC now owns 323 shares of the semiconductor manufacturer’s stock valued at $34,000 after acquiring an additional 277 shares during the last quarter. True Wealth Design LLC lifted its position in Micron Technology by 1,096.3% during the third quarter. True Wealth Design LLC now owns 323 shares of the semiconductor manufacturer’s stock valued at $33,000 after acquiring an additional 296 shares during the last quarter. DT Investment Partners LLC lifted its position in Micron Technology by 261.1% during the third quarter. DT Investment Partners LLC now owns 325 shares of the semiconductor manufacturer’s stock valued at $34,000 after acquiring an additional 235 shares during the last quarter. Finally, Darwin Wealth Management LLC purchased a new stake in Micron Technology during the third quarter valued at approximately $39,000. Hedge funds and other institutional investors own 80.84% of the company’s stock.

Micron Technology Stock Performance

Shares of NASDAQ MU opened at $94.08 on Wednesday. The company’s fifty day moving average price is $96.58 and its 200 day moving average price is $98.88. Micron Technology, Inc. has a 1 year low of $79.15 and a 1 year high of $157.54. The company has a market capitalization of $104.82 billion, a PE ratio of 27.11 and a beta of 1.18. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.75 and a current ratio of 2.72.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings results on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $8.71 billion for the quarter, compared to the consensus estimate of $8.71 billion. During the same period in the prior year, the firm posted ($0.95) earnings per share. The firm’s quarterly revenue was up 84.3% compared to the same quarter last year. On average, research analysts predict that Micron Technology, Inc. will post 6.29 earnings per share for the current year.

Micron Technology Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Monday, December 30th were issued a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a yield of 0.49%. The ex-dividend date was Monday, December 30th. Micron Technology’s dividend payout ratio (DPR) is presently 13.26%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. Piper Sandler decreased their target price on shares of Micron Technology from $150.00 to $120.00 and set an “overweight” rating for the company in a research report on Thursday, December 19th. Wedbush restated an “outperform” rating and set a $140.00 price target on shares of Micron Technology in a research note on Tuesday, December 17th. China Renaissance assumed coverage on shares of Micron Technology in a research note on Monday, October 28th. They set a “buy” rating and a $148.00 price target on the stock. Robert W. Baird cut their price target on shares of Micron Technology from $150.00 to $130.00 and set an “outperform” rating on the stock in a research note on Thursday, December 19th. Finally, UBS Group cut their price target on shares of 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 investment analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-three have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $134.96.

Insider Buying and Selling at Micron Technology

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of the stock in a transaction on Friday, December 20th. The shares were sold at an average price of $85.21, for a total transaction of $416,676.90. Following the transaction, the executive vice president now directly owns 181,223 shares of the company’s stock, valued at $15,442,011.83. This trade represents a 2.63 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.30% 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.