HUB Investment Partners LLC Has $637,000 Stock Position in Micron Technology, Inc. (NASDAQ:MU)

HUB Investment Partners LLC raised its holdings in shares of Micron Technology, Inc. (NASDAQ:MU) by 255.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,568 shares of the semiconductor manufacturer’s stock after buying an additional 5,441 shares during the quarter. HUB Investment Partners LLC’s holdings in Micron Technology were worth $637,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. Stonebrook Private Inc. increased its stake in shares of Micron Technology by 4.2% in the 3rd quarter. Stonebrook Private Inc. now owns 2,454 shares of the semiconductor manufacturer’s stock valued at $255,000 after acquiring an additional 98 shares during the last quarter. Trivant Custom Portfolio Group LLC grew its holdings in Micron Technology by 20.0% during the fourth quarter. Trivant Custom Portfolio Group LLC now owns 600 shares of the semiconductor manufacturer’s stock valued at $50,000 after purchasing an additional 100 shares during the period. Xcel Wealth Management LLC increased its stake in Micron Technology by 1.8% in the fourth quarter. Xcel Wealth Management LLC now owns 6,157 shares of the semiconductor manufacturer’s stock valued at $518,000 after purchasing an additional 108 shares in the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors raised its holdings in Micron Technology by 3.8% in the fourth quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 2,973 shares of the semiconductor manufacturer’s stock worth $250,000 after purchasing an additional 108 shares during the period. Finally, Lebenthal Global Advisors LLC boosted its position in shares of Micron Technology by 1.5% during the fourth quarter. Lebenthal Global Advisors LLC now owns 7,474 shares of the semiconductor manufacturer’s stock worth $629,000 after purchasing an additional 114 shares in the last quarter. 80.84% of the stock is owned by institutional investors.

Insider Transactions at Micron Technology

In related news, Director Mary Pat Mccarthy sold 2,404 shares of the company’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $92.93, for a total value of $223,403.72. Following the transaction, the director now directly owns 27,358 shares in the company, valued at approximately $2,542,378.94. This represents a 8.08 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.30% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. Morgan Stanley raised their price objective on Micron Technology from $91.00 to $112.00 and gave the stock an “equal weight” rating in a research note on Friday. Stifel Nicolaus dropped their target price on shares of Micron Technology from $135.00 to $130.00 and set a “buy” rating on the stock in a report on Thursday, December 19th. UBS Group increased their price objective on shares of Micron Technology from $125.00 to $130.00 and gave the stock a “buy” rating in a research report on Monday, March 17th. Robert W. Baird boosted their price objective on shares of Micron Technology from $130.00 to $163.00 and gave the company an “outperform” rating in a research report on Friday. Finally, JPMorgan Chase & Co. dropped their price target on Micron Technology from $145.00 to $135.00 and set an “overweight” rating on the stock in a research note on Friday. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $132.63.

Micron Technology Stock Performance

Shares of NASDAQ MU opened at $94.72 on Friday. 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 company has a market capitalization of $105.53 billion, a P/E ratio of 27.30 and a beta of 1.23. Micron Technology, Inc. has a 12 month low of $83.54 and a 12 month high of $157.54. The stock has a 50 day moving average of $96.82 and a 200-day moving average of $98.21.

Micron Technology (NASDAQ:MU) last released its quarterly earnings data on Thursday, March 20th. The semiconductor manufacturer reported $1.56 EPS for the quarter, topping analysts’ consensus estimates of $1.43 by $0.13. The firm had revenue of $8.05 billion during the quarter, compared to analysts’ expectations of $7.93 billion. Micron Technology had a net margin of 13.34% and a return on equity of 8.32%. The company’s revenue for the quarter was up 38.2% compared to the same quarter last year. During the same period in the previous year, the business posted $0.42 earnings per share. As a group, equities research analysts predict that Micron Technology, Inc. will post 6.08 EPS for the current year.

Micron Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be given a dividend of $0.115 per share. The ex-dividend date is Monday, March 31st. This represents a $0.46 annualized dividend and a yield of 0.49%. Micron Technology’s dividend payout ratio (DPR) is presently 13.26%.

Micron Technology Company 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.