Dantai Capital Ltd Raises Holdings in Micron Technology, Inc. (NASDAQ:MU)

Dantai Capital Ltd lifted its stake in Micron Technology, Inc. (NASDAQ:MU) by 25.0% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 22,945 shares of the semiconductor manufacturer’s stock after buying an additional 4,590 shares during the quarter. Micron Technology makes up 3.0% of Dantai Capital Ltd’s holdings, making the stock its 12th largest position. Dantai Capital Ltd’s holdings in Micron Technology were worth $2,380,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Hobbs Group Advisors LLC acquired a new position in Micron Technology in the 2nd quarter worth about $28,000. Highline Wealth Partners LLC acquired a new position in Micron Technology in the 3rd quarter worth about $26,000. Richard W. Paul & Associates LLC raised its holdings in Micron Technology by 128.6% in the 2nd quarter. Richard W. Paul & Associates LLC now owns 256 shares of the semiconductor manufacturer’s stock worth $34,000 after purchasing an additional 144 shares during the period. LRI Investments LLC raised its holdings in Micron Technology by 57.2% in the 2nd quarter. LRI Investments LLC now owns 272 shares of the semiconductor manufacturer’s stock worth $36,000 after purchasing an additional 99 shares during the period. Finally, Davis Capital Management acquired a new position in shares of Micron Technology during the third quarter valued at approximately $30,000. Hedge funds and other institutional investors own 80.84% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on MU. Bank of America increased their target price on Micron Technology from $110.00 to $125.00 and gave the company a “buy” rating in a report on Thursday, September 26th. UBS Group cut their price target on Micron Technology from $153.00 to $135.00 and set a “buy” rating for the company in a report on Tuesday, September 17th. China Renaissance initiated coverage on Micron Technology in a report on Monday, October 28th. They issued a “buy” rating and a $148.00 price target for the company. Rosenblatt Securities increased their price target on Micron Technology from $225.00 to $250.00 and gave the company a “buy” rating in a report on Thursday, September 26th. Finally, Susquehanna lowered their price objective on Micron Technology from $175.00 to $165.00 and set a “positive” rating for the company in a research report on Thursday, September 26th. 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, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $143.04.

Micron Technology Stock Up 2.6 %

MU opened at $100.84 on Friday. The business’s 50-day simple moving average is $103.57 and its 200-day simple moving average is $109.87. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.68 and a current ratio of 2.64. Micron Technology, Inc. has a one year low of $78.63 and a one year high of $157.54. The stock has a market capitalization of $112.34 billion, a P/E ratio of 144.47 and a beta of 1.16.

Micron Technology (NASDAQ:MU) last posted its earnings results on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 EPS for the quarter, topping analysts’ consensus estimates of $0.97 by $0.21. Micron Technology had a return on equity of 1.58% and a net margin of 3.10%. The business had revenue of $7.75 billion for the quarter, compared to analysts’ expectations of $7.65 billion. During the same quarter in the previous year, the firm earned ($1.21) earnings per share. The business’s revenue was up 93.3% compared to the same quarter last year. Analysts anticipate that Micron Technology, Inc. will post 8.31 EPS for the current year.

Micron Technology Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 23rd. Investors of record on Monday, October 7th were issued a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.46%. The ex-dividend date of this dividend was Monday, October 7th. Micron Technology’s dividend payout ratio is currently 67.65%.

Insider Buying and Selling

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of Micron Technology 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 sale, the executive vice president now owns 135,830 shares of the company’s stock, valued at approximately $15,348,790. The trade was a 3.47 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through 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.