Privium Fund Management B.V. Makes New Investment in Micron Technology, Inc. (NASDAQ:MU)
Privium Fund Management B.V. bought a new stake in Micron Technology, Inc. (NASDAQ:MU - Get Rating) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 12,500 shares of the semiconductor manufacturer's stock, valued at approximately $625,000.
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Other hedge funds have also made changes to their positions in the company. Ensign Peak Advisors Inc raised its stake in shares of Micron Technology by 12.1% during the 2nd quarter. Ensign Peak Advisors Inc now owns 979,255 shares of the semiconductor manufacturer's stock worth $54,134,000 after buying an additional 105,788 shares in the last quarter. Whittier Trust Co. of Nevada Inc. increased its holdings in shares of Micron Technology by 29.0% in the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 1,711 shares of the semiconductor manufacturer's stock valued at $86,000 after purchasing an additional 385 shares in the last quarter. Dupont Capital Management Corp lifted its stake in shares of Micron Technology by 118.1% in the second quarter. Dupont Capital Management Corp now owns 21,775 shares of the semiconductor manufacturer's stock valued at $1,204,000 after purchasing an additional 11,789 shares during the period. First Hawaiian Bank boosted its holdings in Micron Technology by 26.7% during the second quarter. First Hawaiian Bank now owns 7,517 shares of the semiconductor manufacturer's stock worth $416,000 after buying an additional 1,584 shares in the last quarter. Finally, Meiji Yasuda Life Insurance Co grew its position in Micron Technology by 46.5% during the second quarter. Meiji Yasuda Life Insurance Co now owns 15,968 shares of the semiconductor manufacturer's stock worth $883,000 after buying an additional 5,069 shares during the period. Institutional investors and hedge funds own 78.02% of the company's stock.
Wall Street Analysts Forecast Growth
MU has been the topic of a number of research analyst reports. Mizuho decreased their target price on Micron Technology from $50.00 to $48.00 and set a "neutral" rating on the stock in a research report on Thursday, December 22nd. Morgan Stanley lowered their price objective on shares of Micron Technology from $49.00 to $46.00 and set an "underweight" rating on the stock in a research note on Thursday, December 22nd. Piper Sandler cut their target price on shares of Micron Technology from $50.00 to $45.00 and set an "underweight" rating for the company in a research report on Friday, September 30th. StockNews.com began coverage on shares of Micron Technology in a research report on Wednesday, October 12th. They issued a "hold" rating on the stock. Finally, UBS Group cut their price objective on Micron Technology from $75.00 to $70.00 and set a "buy" rating for the company in a research report on Thursday, December 22nd. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and twenty-two have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $66.21.
Micron Technology Stock Performance
MU stock traded up $0.97 on Friday, reaching $57.33. The company's stock had a trading volume of 351,648 shares, compared to its average volume of 14,622,278. Micron Technology, Inc. has a 52 week low of $48.43 and a 52 week high of $96.50. The company has a debt-to-equity ratio of 0.20, a current ratio of 3.51 and a quick ratio of 2.23. The company has a market capitalization of $62.56 billion, a P/E ratio of 10.23 and a beta of 1.30. The firm has a fifty day moving average of $55.14 and a two-hundred day moving average of $56.28.
Micron Technology (NASDAQ:MU - Get Rating) last released its earnings results on Wednesday, December 21st. The semiconductor manufacturer reported ($0.04) EPS for the quarter, missing analysts' consensus estimates of $0.04 by ($0.08). Micron Technology had a return on equity of 13.26% and a net margin of 22.78%. The business had revenue of $4.09 billion during the quarter, compared to the consensus estimate of $4.14 billion. During the same quarter in the previous year, the firm earned $2.07 earnings per share. The firm's revenue for the quarter was down 46.9% compared to the same quarter last year. As a group, analysts predict that Micron Technology, Inc. will post -2.51 EPS for the current fiscal year.
Micron Technology Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Thursday, January 19th. Shareholders of record on Tuesday, January 3rd were paid a $0.115 dividend. The ex-dividend date was Friday, December 30th. This represents a $0.46 dividend on an annualized basis and a yield of 0.80%. Micron Technology's dividend payout ratio (DPR) is currently 8.35%.
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 comprises DRAM products, which are dynamic random access memory semiconductor devices with low latency that provide high-speed data retrieval; NAND products that are non-volatile and re-writeable semiconductor storage devices; and NOR memory products, which are non-volatile re-writable semiconductor memory devices that provide fast read speeds under the Micron and Crucial brands, as well as through private labels.
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