Dantai Capital Ltd Increases Holdings in Micron Technology, Inc. (NASDAQ:MU)

Dantai Capital Ltd lifted its position in shares of Micron Technology, Inc. (NASDAQ:MU) by 25.0% during the 3rd quarter, Holdings Channel.com reports. The fund owned 22,945 shares of the semiconductor manufacturer’s stock after buying an additional 4,590 shares during the period. Micron Technology makes up 3.0% of Dantai Capital Ltd’s holdings, making the stock its 12th largest holding. Dantai Capital Ltd’s holdings in Micron Technology were worth $2,380,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently modified their holdings of the company. Highline Wealth Partners LLC acquired a new position in shares of Micron Technology during the 3rd quarter worth approximately $26,000. Hobbs Group Advisors LLC acquired a new position in shares of Micron Technology during the 2nd quarter worth approximately $28,000. Davis Capital Management acquired a new position in shares of Micron Technology during the 3rd quarter worth approximately $30,000. True Wealth Design LLC raised its position in shares of 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 last quarter. Finally, Richard W. Paul & Associates LLC raised its holdings in Micron Technology by 128.6% in the 2nd quarter. Richard W. Paul & Associates LLC now owns 256 shares of the semiconductor manufacturer’s stock valued at $34,000 after acquiring an additional 144 shares during the last quarter. 80.84% of the stock is currently owned by institutional investors and hedge funds.

Micron Technology Stock Up 2.6 %

Shares of Micron Technology stock opened at $100.84 on Friday. The business has a 50-day moving average of $103.57 and a 200-day moving average of $109.87. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.64 and a quick ratio of 1.68. The company has a market capitalization of $112.34 billion, a PE ratio of 144.47 and a beta of 1.16. Micron Technology, Inc. has a 1-year low of $78.63 and a 1-year high of $157.54.

Micron Technology (NASDAQ:MU) last announced its earnings results on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 earnings per share for the quarter, beating the consensus estimate of $0.97 by $0.21. The company had revenue of $7.75 billion during the quarter, compared to the consensus estimate of $7.65 billion. Micron Technology had a return on equity of 1.58% and a net margin of 3.10%. The company’s revenue was up 93.3% on a year-over-year basis. During the same period last year, the firm earned ($1.21) earnings per share. As a group, equities analysts forecast that Micron Technology, Inc. will post 8.31 EPS for the current fiscal year.

Micron Technology Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 23rd. Investors of record on Monday, October 7th were paid a $0.115 dividend. The ex-dividend date was Monday, October 7th. This represents a $0.46 dividend on an annualized basis and a yield of 0.46%. Micron Technology’s dividend payout ratio (DPR) is 67.65%.

Insider Buying and Selling

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of the firm’s stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $113.00, for a total value of $552,570.00. Following the transaction, the executive vice president now owns 135,830 shares of the company’s stock, valued at $15,348,790. This trade represents a 3.47 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.30% of the company’s stock.

Analyst Ratings Changes

MU has been the subject of several analyst reports. Susquehanna cut their price target on Micron Technology from $175.00 to $165.00 and set a “positive” rating for the company in a report on Thursday, September 26th. Bank of America boosted their price target on Micron Technology from $110.00 to $125.00 and gave the company a “buy” rating in a report on Thursday, September 26th. BNP Paribas downgraded Micron Technology from an “outperform” rating to an “underperform” rating and cut their price target for the company from $140.00 to $67.00 in a report on Thursday, September 12th. Citigroup cut their price target on Micron Technology from $175.00 to $150.00 and set a “buy” rating for the company in a report on Tuesday, September 17th. Finally, TD Cowen boosted their price target on Micron Technology from $115.00 to $135.00 and gave the company a “buy” rating in a report on Thursday, September 26th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and twenty-six have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $143.04.

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.