Duquesne Family Office LLC Purchases Shares of 408,885 Micron Technology, Inc. (NASDAQ:MU)

Duquesne Family Office LLC acquired a new position in Micron Technology, Inc. (NASDAQ:MU) during the 4th quarter, Holdings Channel.com reports. The institutional investor acquired 408,885 shares of the semiconductor manufacturer’s stock, valued at approximately $34,412,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in 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 valued at $31,000 after buying an additional 200 shares in the last quarter. Midwest Capital Advisors LLC acquired a new stake in shares of Micron Technology during the fourth quarter worth approximately $33,000. Activest Wealth Management grew its position in Micron Technology by 583.3% during the fourth quarter. Activest Wealth Management now owns 410 shares of the semiconductor manufacturer’s stock valued at $34,000 after purchasing an additional 350 shares in the last quarter. Comprehensive Financial Planning Inc. PA acquired a new position in Micron Technology in the 4th quarter valued at approximately $34,000. Finally, Curio Wealth LLC purchased a new stake in Micron Technology in the 4th quarter worth approximately $34,000. 80.84% of the stock is currently owned by institutional investors.

Micron Technology Stock Performance

Shares of NASDAQ MU opened at $80.60 on Wednesday. Micron Technology, Inc. has a 12 month low of $61.54 and a 12 month high of $157.54. The company has a market cap of $90.08 billion, a P/E ratio of 23.23 and a beta of 1.21. The business’s 50 day moving average is $83.06 and its two-hundred day moving average is $93.46. The company has a quick ratio of 1.75, a current ratio of 2.72 and a debt-to-equity ratio of 0.28.

Micron Technology (NASDAQ:MU) last released its earnings results on Thursday, March 20th. The semiconductor manufacturer reported $1.56 EPS for the quarter, beating the consensus estimate of $1.43 by $0.13. The firm had revenue of $8.05 billion during the quarter, compared to analysts’ expectations of $7.93 billion. Micron Technology had a net margin of 13.34% and a return on equity of 8.32%. The business’s quarterly revenue was up 38.2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.42 EPS. On average, equities analysts expect that Micron Technology, Inc. will post 6.08 EPS for the current year.

Micron Technology Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were given a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a yield of 0.57%. The ex-dividend date was Monday, March 31st. Micron Technology’s dividend payout ratio (DPR) is presently 11.03%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on MU. KGI Securities upgraded shares of Micron Technology to a “strong-buy” rating in a report on Friday, February 21st. Citigroup lowered their target price on Micron Technology from $120.00 to $110.00 and set a “buy” rating on the stock in a research note on Friday, April 11th. Morgan Stanley upped their target price on Micron Technology from $91.00 to $112.00 and gave the stock an “equal weight” rating in a research report on Friday, March 21st. JPMorgan Chase & Co. reduced their price target on Micron Technology from $145.00 to $135.00 and set an “overweight” rating for the company in a report on Friday, March 21st. Finally, Robert W. Baird increased their price objective on Micron Technology from $130.00 to $163.00 and gave the stock an “outperform” rating in a report on Friday, March 21st. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $127.04.

Insider Activity at Micron Technology

In other Micron Technology news, EVP April S. Arnzen sold 15,000 shares of the firm’s stock in a transaction dated Tuesday, March 25th. The shares were sold at an average price of $96.18, for a total transaction of $1,442,700.00. Following the completion of the transaction, the executive vice president now owns 164,769 shares in the company, valued at $15,847,482.42. This trade represents a 8.34 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Mary Pat Mccarthy sold 2,404 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $92.93, for a total value 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. This represents a 8.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 19,808 shares of company stock worth $1,858,424 over the last three months. Company insiders own 0.30% of the company’s stock.

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.