M & L Capital Management Ltd Invests $12.78 Million in Micron Technology, Inc. (NASDAQ:MU)

M & L Capital Management Ltd bought a new stake in Micron Technology, Inc. (NASDAQ:MU) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 151,800 shares of the semiconductor manufacturer’s stock, valued at approximately $12,775,000. Micron Technology accounts for about 3.1% of M & L Capital Management Ltd’s portfolio, making the stock its 8th largest holding.

Other institutional investors have also recently added to or reduced their stakes in the company. Harmony Asset Management LLC boosted its position in shares of Micron Technology by 75.6% in the 3rd quarter. Harmony Asset Management LLC now owns 11,889 shares of the semiconductor manufacturer’s stock valued at $1,233,000 after purchasing an additional 5,120 shares during the period. Lazard Freres Gestion S.A.S. lifted its stake in Micron Technology by 241.7% in the third quarter. Lazard Freres Gestion S.A.S. now owns 41,000 shares of the semiconductor manufacturer’s stock valued at $4,252,000 after acquiring an additional 29,000 shares during the last quarter. E Fund Management Co. Ltd. lifted its position in shares of Micron Technology by 31.8% in the fourth quarter. E Fund Management Co. Ltd. now owns 36,378 shares of the semiconductor manufacturer’s stock worth $3,062,000 after buying an additional 8,780 shares during the last quarter. Stablepoint Partners LLC acquired a new stake in Micron Technology in the 4th quarter worth approximately $569,000. Finally, State Street Corp lifted its position in Micron Technology by 3.1% during the 3rd quarter. State Street Corp now owns 48,226,710 shares of the semiconductor manufacturer’s stock worth $5,001,592,000 after acquiring an additional 1,434,568 shares during the last quarter. 80.84% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. Needham & Company LLC reduced their price objective on Micron Technology from $140.00 to $120.00 and set a “buy” rating for the company in a research report on Thursday, December 19th. Wells Fargo & Company decreased their target price on Micron Technology from $140.00 to $130.00 and set an “overweight” rating on the stock in a report on Thursday. Morgan Stanley reduced their price objective on Micron Technology from $98.00 to $91.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 28th. Piper Sandler cut their price objective on shares of Micron Technology from $150.00 to $120.00 and set an “overweight” rating on the stock in a report on Thursday, December 19th. Finally, Robert W. Baird cut their price target on shares of Micron Technology from $150.00 to $130.00 and set an “outperform” rating on the stock in a research report on Thursday, December 19th. One analyst has rated the stock with a sell rating, three have given a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $134.56.

Micron Technology Stock Up 6.2 %

Shares of MU opened at $100.79 on Friday. The stock’s 50-day moving average price is $96.72 and its 200-day moving average price is $98.05. 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, Inc. has a 52 week low of $83.54 and a 52 week high of $157.54. The company has a market capitalization of $112.30 billion, a price-to-earnings ratio of 29.05 and a beta of 1.23.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings data on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.60 by $0.19. Micron Technology had a net margin of 13.34% and a return on equity of 8.32%. The company had revenue of $8.71 billion during the quarter, compared to analysts’ expectations of $8.71 billion. During the same quarter in the prior year, the company earned ($0.95) EPS. Micron Technology’s revenue was up 84.3% compared to the same quarter last year. On average, sell-side analysts predict that Micron Technology, Inc. will post 6.08 EPS for the current year.

Micron Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Monday, December 30th were paid a dividend of $0.115 per share. This represents a $0.46 annualized dividend and a yield of 0.46%. The ex-dividend date was Monday, December 30th. Micron Technology’s payout ratio is currently 13.26%.

Insider Transactions at Micron Technology

In related news, Director Mary Pat Mccarthy sold 2,404 shares of Micron Technology stock in a transaction that occurred on Monday, March 3rd. The stock was 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 $2,542,378.94. The trade was a 8.08 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP April S. Arnzen sold 4,890 shares of the business’s stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $85.21, for a total transaction of $416,676.90. Following the sale, the executive vice president now directly owns 181,223 shares in the company, valued at approximately $15,442,011.83. This represents a 2.63 % decrease in their position. The disclosure for this sale can be found here. Corporate 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.