JB Capital LLC Purchases Shares of 32,989 Micron Technology, Inc. (NASDAQ:MU)

JB Capital LLC bought a new position in shares of Micron Technology, Inc. (NASDAQ:MU) in the fourth quarter, according to the company in its most recent filing with the SEC. The fund bought 32,989 shares of the semiconductor manufacturer’s stock, valued at approximately $2,776,000.

A number of other hedge funds have also made changes to their positions in the business. Deepwater Asset Management LLC lifted its holdings in Micron Technology by 7.7% in the fourth quarter. Deepwater Asset Management LLC now owns 160,781 shares of the semiconductor manufacturer’s stock worth $13,531,000 after acquiring an additional 11,445 shares during the last quarter. Alterna Wealth Management Inc. raised its holdings in Micron Technology by 31.6% during the fourth quarter. Alterna Wealth Management Inc. now owns 3,897 shares of the semiconductor manufacturer’s stock worth $328,000 after purchasing an additional 935 shares in the last quarter. U.S. Capital Wealth Advisors LLC lifted its holdings in shares of Micron Technology by 20.2% in the fourth quarter. U.S. Capital Wealth Advisors LLC now owns 9,976 shares of the semiconductor manufacturer’s stock valued at $840,000 after buying an additional 1,674 shares during the period. Greenleaf Trust lifted its holdings in Micron Technology by 1.6% in the 4th quarter. Greenleaf Trust now owns 31,775 shares of the semiconductor manufacturer’s stock valued at $2,674,000 after acquiring an additional 499 shares during the last quarter. Finally, Golden State Equity Partners grew its position in Micron Technology by 1,115.0% in the fourth quarter. Golden State Equity Partners now owns 7,351 shares of the semiconductor manufacturer’s stock worth $619,000 after buying an additional 6,746 shares during the last quarter. Hedge funds and other institutional investors own 80.84% of the company’s stock.

Micron Technology Stock Down 1.4 %

MU opened at $91.24 on Monday. The stock has a fifty day moving average of $97.43 and a 200-day moving average of $99.88. The company has a market capitalization of $101.66 billion, a P/E ratio of 26.29 and a beta of 1.18. Micron Technology, Inc. has a fifty-two week low of $79.15 and a fifty-two week high of $157.54. 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 posted its quarterly earnings data on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 EPS for the quarter, topping analysts’ consensus estimates of $1.60 by $0.19. The firm had revenue of $8.71 billion for the quarter, compared to analyst estimates of $8.71 billion. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. The company’s revenue was up 84.3% on a year-over-year basis. During the same quarter last year, the company earned ($0.95) EPS. On average, equities analysts expect that Micron Technology, Inc. will post 6.29 EPS for the current year.

Micron Technology Dividend Announcement

The business 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 annualized dividend and a dividend yield of 0.50%. The ex-dividend date was Monday, December 30th. Micron Technology’s dividend payout ratio (DPR) is presently 13.26%.

Analyst Ratings Changes

A number of analysts have issued reports on MU shares. Needham & Company LLC reduced their target price on shares of Micron Technology from $140.00 to $120.00 and set a “buy” rating for the company in a research note on Thursday, December 19th. KeyCorp dropped their price objective on shares of Micron Technology from $145.00 to $135.00 and set an “overweight” rating for the company in a research note on Tuesday, October 8th. Rosenblatt Securities restated a “buy” rating and set a $250.00 price target on shares of Micron Technology in a research note on Wednesday, December 18th. Bank of America lowered Micron Technology from a “buy” rating to a “neutral” rating and decreased their price target for the company from $125.00 to $110.00 in a research note on Thursday, December 19th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $140.00 target price on shares of Micron Technology in a report on Tuesday, December 17th. One analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $134.96.

Insider Buying and Selling

In related news, EVP April S. Arnzen sold 4,890 shares of the business’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 sale, 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 sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.30% of the stock is owned by corporate 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.