Future Fund LLC Raises Stock Holdings in Micron Technology, Inc. (NASDAQ:MU)

Future Fund LLC increased its position in shares of Micron Technology, Inc. (NASDAQ:MU) by 49.4% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 14,022 shares of the semiconductor manufacturer’s stock after acquiring an additional 4,639 shares during the period. Micron Technology comprises about 4.2% of Future Fund LLC’s portfolio, making the stock its 7th biggest position. Future Fund LLC’s holdings in Micron Technology were worth $1,398,000 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 the company. Hobbs Group Advisors LLC bought a new stake in shares of Micron Technology in the 2nd quarter valued at about $28,000. Highline Wealth Partners LLC bought a new stake in shares of Micron Technology in the 3rd quarter valued at about $26,000. Richard W. Paul & Associates LLC lifted its stake in shares of 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 purchasing an additional 144 shares during the period. LRI Investments LLC lifted its stake in shares of Micron Technology by 57.2% in the 2nd quarter. LRI Investments LLC now owns 272 shares of the semiconductor manufacturer’s stock valued at $36,000 after purchasing an additional 99 shares during the period. Finally, Davis Capital Management acquired a new position in shares of Micron Technology in the 3rd quarter valued at about $30,000. Institutional investors own 80.84% of the company’s stock.

Micron Technology Trading Down 4.2 %

NASDAQ:MU opened at $104.10 on Wednesday. The company has a 50-day moving average price of $100.41 and a 200-day moving average price of $113.11. Micron Technology, Inc. has a 12 month low of $72.93 and a 12 month high of $157.54. The company has a current ratio of 2.64, a quick ratio of 1.68 and a debt-to-equity ratio of 0.29. The stock has a market cap of $115.42 billion, a price-to-earnings ratio of 153.09 and a beta of 1.18.

Micron Technology (NASDAQ:MU) last issued its quarterly earnings results on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.97 by $0.21. The company had revenue of $7.75 billion during the quarter, compared to analyst estimates of $7.65 billion. Micron Technology had a net margin of 3.10% and a return on equity of 1.58%. Micron Technology’s quarterly revenue was up 93.3% compared to the same quarter last year. During the same period last year, the business earned ($1.21) EPS. Equities analysts predict that Micron Technology, Inc. will post 8.31 EPS for the current year.

Micron Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 23rd. Shareholders of record on Monday, October 7th were paid a dividend of $0.115 per share. The ex-dividend date was Monday, October 7th. This represents a $0.46 dividend on an annualized basis and a yield of 0.44%. Micron Technology’s dividend payout ratio is currently 67.65%.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on MU shares. Bank of America boosted their price objective on Micron Technology from $110.00 to $125.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $150.00 price target on shares of Micron Technology in a report on Tuesday, October 1st. Susquehanna cut their price target on Micron Technology from $175.00 to $165.00 and set a “positive” rating on the stock in a report on Thursday, September 26th. Rosenblatt Securities upped their price objective on shares of Micron Technology from $225.00 to $250.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. Finally, Stifel Nicolaus lowered their price objective on shares of Micron Technology from $165.00 to $135.00 and set a “buy” rating on the stock in a report on Thursday, September 19th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and twenty-six have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $143.04.

Insider Buying and Selling at Micron Technology

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 transaction of $552,570.00. Following the completion of the sale, the executive vice president now directly owns 135,830 shares in the company, valued at approximately $15,348,790. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.32% of the stock is owned by company insiders.

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.