Quantinno Capital Management LP Has $11.25 Million Position in Micron Technology, Inc. (NASDAQ:MU)

Quantinno Capital Management LP lifted its stake in Micron Technology, Inc. (NASDAQ:MU) by 82.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 133,619 shares of the semiconductor manufacturer’s stock after acquiring an additional 60,468 shares during the quarter. Quantinno Capital Management LP’s holdings in Micron Technology were worth $11,245,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Pathstone Holdings LLC lifted its stake in shares of Micron Technology by 0.3% in the fourth quarter. Pathstone Holdings LLC now owns 209,326 shares of the semiconductor manufacturer’s stock valued at $17,621,000 after buying an additional 643 shares during the period. Mufg Securities Americas Inc. acquired a new stake in shares of Micron Technology in the fourth quarter valued at approximately $1,377,000. Nearwater Capital Markets Ltd bought a new position in Micron Technology in the fourth quarter valued at approximately $37,030,000. NorthRock Partners LLC boosted its position in shares of Micron Technology by 190.0% during the fourth quarter. NorthRock Partners LLC now owns 8,163 shares of the semiconductor manufacturer’s stock worth $687,000 after purchasing an additional 5,348 shares in the last quarter. Finally, OMERS ADMINISTRATION Corp boosted its position in shares of Micron Technology by 20.8% during the fourth quarter. OMERS ADMINISTRATION Corp now owns 46,375 shares of the semiconductor manufacturer’s stock worth $3,903,000 after purchasing an additional 7,983 shares in the last quarter. 80.84% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Micron Technology

In other Micron Technology news, EVP April S. Arnzen sold 15,000 shares of the company’s stock in a transaction on Tuesday, March 25th. The stock was sold at an average price of $96.18, for a total value of $1,442,700.00. Following the sale, the executive vice president now owns 164,769 shares of the company’s stock, valued at approximately $15,847,482.42. This represents a 8.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Mary Pat Mccarthy sold 2,404 shares of the stock in a transaction 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 sale, the director now directly 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 disclosure for this sale can be found here. Over the last quarter, insiders sold 19,808 shares of company stock worth $1,858,424. 0.30% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. JPMorgan Chase & Co. lowered 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 note on Friday, March 21st. Rosenblatt Securities decreased their price target on shares of Micron Technology from $250.00 to $200.00 and set a “buy” rating on the stock in a research note on Friday, March 21st. Royal Bank of Canada set a $125.00 price objective on shares of Micron Technology in a report on Wednesday, March 19th. UBS Group cut their price target on shares of Micron Technology from $130.00 to $92.00 and set a “buy” rating for the company in a report on Monday, April 28th. Finally, Citigroup dropped their price objective on shares of Micron Technology from $120.00 to $110.00 and set a “buy” rating for the company in a research note on Friday, April 11th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $126.48.

Micron Technology Stock Down 1.7%

Shares of NASDAQ:MU opened at $95.32 on Thursday. The company has a market capitalization of $106.53 billion, a price-to-earnings ratio of 27.47 and a beta of 1.21. The company has a current ratio of 2.72, a quick ratio of 1.75 and a debt-to-equity ratio of 0.28. The business has a 50-day moving average price of $82.78 and a 200 day moving average price of $92.83. Micron Technology, Inc. has a 12-month low of $61.54 and a 12-month high of $157.54.

Micron Technology (NASDAQ:MU) last announced its quarterly 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 firm had revenue of $8.05 billion during the quarter, compared to the consensus estimate of $7.93 billion. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. The firm’s quarterly revenue was up 38.2% compared to the same quarter last year. During the same period in the prior year, the company posted $0.42 earnings per share. Sell-side analysts expect that Micron Technology, Inc. will post 6.08 EPS for the current year.

Micron Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were paid a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a yield of 0.48%. The ex-dividend date of this dividend was Monday, March 31st. Micron Technology’s dividend payout ratio is currently 11.03%.

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.