Eagle Rock Investment Company LLC Acquires 365 Shares of Micron Technology, Inc. (NASDAQ:MU)

Eagle Rock Investment Company LLC lifted its holdings in Micron Technology, Inc. (NASDAQ:MU) by 0.6% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 64,467 shares of the semiconductor manufacturer’s stock after purchasing an additional 365 shares during the quarter. Eagle Rock Investment Company LLC’s holdings in Micron Technology were worth $5,426,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Highline Wealth Partners LLC acquired a new stake in shares of Micron Technology in the 3rd quarter valued at about $26,000. Davis Capital Management bought a new position in shares of Micron Technology during the third quarter worth about $30,000. True Wealth Design LLC raised its position in Micron Technology by 1,096.3% in the 3rd quarter. True Wealth Design LLC now owns 323 shares of the semiconductor manufacturer’s stock valued at $33,000 after buying an additional 296 shares during the last quarter. DT Investment Partners LLC lifted its stake in Micron Technology by 261.1% in the 3rd 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 in the last quarter. Finally, Stone House Investment Management LLC boosted its position in Micron Technology by 602.2% during the 3rd quarter. Stone House Investment Management LLC now owns 323 shares of the semiconductor manufacturer’s stock worth $34,000 after acquiring an additional 277 shares during the last quarter. 80.84% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

MU has been the topic of a number of research reports. Barclays cut their price objective on shares of Micron Technology from $145.00 to $110.00 and set an “overweight” rating on the stock in a research report on Friday, December 20th. KeyCorp cut their price target on shares of Micron Technology from $145.00 to $135.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 8th. Bank of America cut Micron Technology from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $125.00 to $110.00 in a report on Thursday, December 19th. Cantor Fitzgerald reduced their price target on Micron Technology from $150.00 to $130.00 and set an “overweight” rating for the company in a research report on Thursday, December 19th. Finally, China Renaissance assumed coverage on Micron Technology in a research note on Monday, October 28th. They issued a “buy” rating and a $148.00 price target for the company. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-three have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $135.24.

Micron Technology Stock Performance

NASDAQ:MU opened at $102.60 on Friday. The stock has a 50 day simple moving average of $98.21 and a 200 day simple moving average of $102.66. The stock has a market cap of $114.31 billion, a P/E ratio of 29.57 and a beta of 1.18. Micron Technology, Inc. has a 1-year low of $79.15 and a 1-year high of $157.54. 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 earnings results on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 earnings per share for the quarter, topping analysts’ consensus estimates of $1.60 by $0.19. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. The company had revenue of $8.71 billion during the quarter, compared to the consensus estimate of $8.71 billion. During the same quarter last year, the firm earned ($0.95) earnings per share. The company’s revenue was up 84.3% on a year-over-year basis. Research analysts anticipate that Micron Technology, Inc. will post 6.25 earnings per share for the current year.

Micron Technology Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Monday, December 30th were issued a dividend of $0.115 per share. The ex-dividend date was Monday, December 30th. This represents a $0.46 annualized dividend and a dividend yield of 0.45%. Micron Technology’s dividend payout ratio is presently 13.26%.

Insider Activity

In related news, EVP April S. Arnzen sold 4,890 shares of the business’s stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $85.21, for a total value of $416,676.90. Following the completion of the transaction, the executive vice president now owns 181,223 shares of the company’s stock, valued at $15,442,011.83. The trade was a 2.63 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.30% of the stock is owned by company insiders.

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.