HUB Investment Partners LLC Buys 5,441 Shares of Micron Technology, Inc. (NASDAQ:MU)

HUB Investment Partners LLC increased its stake in Micron Technology, Inc. (NASDAQ:MU) by 255.8% during the fourth quarter, Holdings Channel reports. The firm owned 7,568 shares of the semiconductor manufacturer’s stock after acquiring an additional 5,441 shares during the period. HUB Investment Partners LLC’s holdings in Micron Technology were worth $637,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of MU. Beacon Capital Management LLC lifted its stake in Micron Technology by 114.9% during the fourth quarter. Beacon Capital Management LLC now owns 374 shares of the semiconductor manufacturer’s stock worth $31,000 after purchasing an additional 200 shares during the last quarter. True Wealth Design LLC lifted 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 buying an additional 296 shares during the last quarter. Midwest Capital Advisors LLC acquired a new stake in Micron Technology in the fourth quarter valued at about $33,000. Stone House Investment Management LLC raised its stake 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 worth $34,000 after acquiring an additional 277 shares in the last quarter. Finally, Activest Wealth Management lifted its holdings in shares of Micron Technology by 583.3% in the fourth quarter. Activest Wealth Management now owns 410 shares of the semiconductor manufacturer’s stock worth $34,000 after acquiring an additional 350 shares during the last quarter. Institutional investors and hedge funds own 80.84% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on MU shares. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $130.00 price target on shares of Micron Technology in a report on Friday. Robert W. Baird upped their price target on shares of Micron Technology from $130.00 to $163.00 and gave the stock an “outperform” rating in a report on Friday. KGI Securities raised Micron Technology to a “strong-buy” rating in a report on Friday, February 21st. Wells Fargo & Company lowered their target price on Micron Technology from $140.00 to $130.00 and set an “overweight” rating for the company in a report on Thursday, March 13th. Finally, UBS Group lifted their price target on Micron Technology from $125.00 to $130.00 and gave the company a “buy” rating in a research note on Monday, March 17th. One research analyst has rated the stock with a sell rating, three have given a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $132.63.

Insider Activity

In other Micron Technology news, Director Mary Pat Mccarthy sold 2,404 shares of the business’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $92.93, for a total transaction of $223,403.72. Following the completion of the sale, the director now owns 27,358 shares in the company, valued at approximately $2,542,378.94. The trade was a 8.08 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.30% of the stock is currently owned by company insiders.

Micron Technology Price Performance

Shares of MU opened at $94.72 on Friday. The firm has a market cap of $105.53 billion, a PE ratio of 27.30 and a beta of 1.23. Micron Technology, Inc. has a 52-week low of $83.54 and a 52-week high of $157.54. The business’s 50 day moving average price is $96.82 and its two-hundred day moving average price is $98.21. 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 released its 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. The company had revenue of $8.05 billion for the quarter, compared to the consensus estimate of $7.93 billion. Micron Technology had a net margin of 13.34% and a return on equity of 8.32%. Micron Technology’s quarterly revenue was up 38.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.42 EPS. On average, equities analysts anticipate that Micron Technology, Inc. will post 6.08 EPS for the current year.

Micron Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be given a dividend of $0.115 per share. The ex-dividend date is Monday, March 31st. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.49%. Micron Technology’s dividend payout ratio (DPR) is presently 13.26%.

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.