Wexford Capital LP Grows Stake in Micron Technology, Inc. (NASDAQ:MU)

Wexford Capital LP grew its position in Micron Technology, Inc. (NASDAQ:MU) by 1,997.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 45,268 shares of the semiconductor manufacturer’s stock after buying an additional 43,110 shares during the quarter. Micron Technology accounts for 1.1% of Wexford Capital LP’s holdings, making the stock its 23rd largest holding. Wexford Capital LP’s holdings in Micron Technology were worth $4,695,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Highline Wealth Partners LLC acquired a new stake in Micron Technology in the 3rd quarter worth approximately $26,000. Hobbs Group Advisors LLC purchased a new stake in shares of Micron Technology during the second quarter valued at $28,000. Davis Capital Management acquired a new position in shares of Micron Technology in the 3rd quarter valued at $30,000. True Wealth Design LLC raised its stake in Micron Technology by 1,096.3% in the 3rd quarter. True Wealth Design LLC now owns 323 shares of the semiconductor manufacturer’s stock worth $33,000 after acquiring an additional 296 shares during the last quarter. Finally, Richard W. Paul & Associates LLC grew its stake in Micron Technology by 128.6% during 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 last quarter. Institutional investors own 80.84% of the company’s stock.

Micron Technology Price Performance

Micron Technology stock opened at $100.87 on Friday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.68 and a current ratio of 2.64. The company has a market cap of $112.37 billion, a price-to-earnings ratio of 148.34 and a beta of 1.16. Micron Technology, Inc. has a 1 year low of $72.93 and a 1 year high of $157.54. The firm has a 50 day moving average price of $103.79 and a 200 day moving average price of $110.81.

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

Micron Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 23rd. Stockholders 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 dividend yield of 0.46%. Micron Technology’s dividend payout ratio is currently 67.65%.

Wall Street Analysts Forecast Growth

MU has been the topic of several analyst reports. Stifel Nicolaus dropped their target price on Micron Technology from $165.00 to $135.00 and set a “buy” rating on the stock in a report on Thursday, September 19th. China Renaissance started coverage on shares of Micron Technology in a research note on Monday, October 28th. They set a “buy” rating and a $148.00 price objective on the stock. Robert W. Baird decreased their target price on shares of Micron Technology from $172.00 to $150.00 and set an “outperform” rating for the company in a research note on Friday, September 27th. Bank of America raised their price target on shares of Micron Technology from $110.00 to $125.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. Finally, KeyCorp decreased their price objective on shares of Micron Technology from $145.00 to $135.00 and set an “overweight” rating for the company in a research report on Tuesday, October 8th. One analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-six have assigned a buy rating to the stock. Based on data from MarketBeat.com, Micron Technology presently has an average rating of “Moderate Buy” and an average price target of $143.04.

Insider Transactions at Micron Technology

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of the company’s stock in a transaction that occurred on Thursday, September 26th. The stock was sold at an average price of $113.00, for a total value of $552,570.00. Following the transaction, the executive vice president now directly owns 135,830 shares of the company’s stock, valued at $15,348,790. This represents a 3.47 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 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.