256,500 Shares in Micron Technology, Inc. (NASDAQ:MU) Bought by Gladstone Capital Management LLP

Gladstone Capital Management LLP bought a new stake in Micron Technology, Inc. (NASDAQ:MU) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 256,500 shares of the semiconductor manufacturer’s stock, valued at approximately $33,737,000. Micron Technology comprises approximately 3.0% of Gladstone Capital Management LLP’s investment portfolio, making the stock its 12th biggest position.

A number of other hedge funds have also recently made changes to their positions in MU. TrinityPoint Wealth LLC raised its position in shares of Micron Technology by 33.9% during the fourth quarter. TrinityPoint Wealth LLC now owns 34,540 shares of the semiconductor manufacturer’s stock worth $2,948,000 after acquiring an additional 8,736 shares during the last quarter. Cambridge Investment Research Advisors Inc. boosted its holdings in Micron Technology by 2.3% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 136,458 shares of the semiconductor manufacturer’s stock valued at $11,645,000 after acquiring an additional 3,046 shares during the last quarter. SageView Advisory Group LLC acquired a new stake in Micron Technology during the 4th quarter valued at approximately $587,000. Avantax Planning Partners Inc. bought a new position in Micron Technology during the 4th quarter worth approximately $221,000. Finally, Orion Portfolio Solutions LLC lifted its position in shares of Micron Technology by 9.9% in the 4th quarter. Orion Portfolio Solutions LLC now owns 61,749 shares of the semiconductor manufacturer’s stock worth $5,246,000 after purchasing an additional 5,576 shares during the period. 80.84% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on MU shares. Wells Fargo & Company dropped their price objective on Micron Technology from $190.00 to $175.00 and set an “overweight” rating on the stock in a research note on Wednesday, September 18th. Mizuho increased their price target on Micron Technology from $150.00 to $155.00 and gave the stock a “buy” rating in a report on Friday, May 31st. Susquehanna lowered their price objective on shares of Micron Technology from $185.00 to $175.00 and set a “positive” rating for the company in a research note on Thursday, August 22nd. Stifel Nicolaus cut their target price on shares of Micron Technology from $165.00 to $135.00 and set a “buy” rating on the stock in a research note on Thursday. Finally, Bank of America lifted their price target on shares of Micron Technology from $144.00 to $170.00 and gave the company a “buy” rating in a research note on Monday, June 17th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and twenty-five have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $145.65.

Micron Technology Price Performance

Micron Technology stock opened at $90.90 on Monday. The stock has a market cap of $100.79 billion, a P/E ratio of -64.01 and a beta of 1.17. The company has a quick ratio of 2.16, a current ratio of 3.41 and a debt-to-equity ratio of 0.29. The company’s 50 day moving average price is $99.81 and its two-hundred day moving average price is $114.83. Micron Technology, Inc. has a 52 week low of $63.83 and a 52 week high of $157.54.

Micron Technology (NASDAQ:MU) last posted its quarterly earnings data on Wednesday, June 26th. The semiconductor manufacturer reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.14. Micron Technology had a negative return on equity of 4.01% and a negative net margin of 7.20%. The business had revenue of $6.81 billion for the quarter, compared to analysts’ expectations of $6.67 billion. During the same quarter in the previous year, the firm earned ($1.57) earnings per share. The business’s revenue was up 81.5% on a year-over-year basis. On average, equities analysts predict that Micron Technology, Inc. will post 0.61 earnings per share for the current year.

Micron Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 23rd. Investors of record on Monday, July 8th were issued a dividend of $0.115 per share. The ex-dividend date of this dividend was Monday, July 8th. This represents a $0.46 dividend on an annualized basis and a yield of 0.51%. Micron Technology’s dividend payout ratio (DPR) is presently -32.39%.

Insider Buying and Selling

In other news, EVP April S. Arnzen sold 4,890 shares of the stock in a transaction that occurred on Thursday, June 27th. The shares were sold at an average price of $135.86, for a total transaction of $664,355.40. Following the completion of the transaction, the executive vice president now directly owns 142,321 shares of the company’s stock, valued at approximately $19,335,731.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.32% of the stock is currently owned by corporate insiders.

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.