Samlyn Capital LLC Makes New $17.79 Million Investment in Micron Technology, Inc. (NASDAQ:MU)

Samlyn Capital LLC purchased a new position in shares of Micron Technology, Inc. (NASDAQ:MU) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 135,270 shares of the semiconductor manufacturer’s stock, valued at approximately $17,792,000.

Several other institutional investors also recently added to or reduced their stakes in MU. Atria Investments Inc grew its stake in shares of Micron Technology by 0.3% in the 1st quarter. Atria Investments Inc now owns 27,749 shares of the semiconductor manufacturer’s stock valued at $3,269,000 after purchasing an additional 93 shares during the last quarter. Aspect Partners LLC grew its stake in shares of Micron Technology by 39.8% in the 2nd quarter. Aspect Partners LLC now owns 330 shares of the semiconductor manufacturer’s stock valued at $43,000 after purchasing an additional 94 shares during the last quarter. Revolve Wealth Partners LLC grew its stake in shares of Micron Technology by 1.5% in the 1st quarter. Revolve Wealth Partners LLC now owns 6,582 shares of the semiconductor manufacturer’s stock valued at $776,000 after purchasing an additional 98 shares during the last quarter. Ameritas Advisory Services LLC grew its stake in shares of Micron Technology by 1.3% in the 2nd quarter. Ameritas Advisory Services LLC now owns 7,625 shares of the semiconductor manufacturer’s stock valued at $1,003,000 after purchasing an additional 98 shares during the last quarter. Finally, LRI Investments LLC grew its stake in shares of Micron Technology by 57.2% in the 2nd quarter. LRI Investments LLC now owns 272 shares of the semiconductor manufacturer’s stock valued at $36,000 after purchasing an additional 99 shares during the last quarter. Institutional investors and hedge funds own 80.84% of the company’s stock.

Insider Activity at Micron Technology

In related news, EVP April S. Arnzen sold 4,890 shares of the company’s stock in a transaction on Thursday, June 27th. The stock was sold at an average price of $135.86, for a total value of $664,355.40. Following the completion of the transaction, the executive vice president now directly owns 142,321 shares in the company, valued at $19,335,731.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.32% of the company’s stock.

Micron Technology Stock Performance

NASDAQ MU opened at $93.57 on Tuesday. Micron Technology, Inc. has a fifty-two week low of $63.83 and a fifty-two week high of $157.54. The stock has a market cap of $103.75 billion, a price-to-earnings ratio of -65.89 and a beta of 1.17. The business has a fifty day moving average of $99.06 and a 200-day moving average of $114.79. The company has a quick ratio of 2.16, a current ratio of 3.41 and a debt-to-equity ratio of 0.29.

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

Micron Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 23rd. Investors of record on Monday, July 8th were paid a $0.115 dividend. The ex-dividend date was Monday, July 8th. This represents a $0.46 annualized dividend and a yield of 0.49%. Micron Technology’s payout ratio is currently -32.39%.

Analyst Ratings Changes

A number of research firms recently weighed in on MU. Robert W. Baird lifted their price target on Micron Technology from $150.00 to $172.00 and gave the company an “outperform” rating in a research note on Monday, June 24th. Susquehanna decreased their price target on Micron Technology from $185.00 to $175.00 and set a “positive” rating on the stock in a research note on Thursday, August 22nd. Morgan Stanley decreased their price target on Micron Technology from $140.00 to $100.00 and set an “equal weight” rating on the stock in a research note on Monday, September 16th. Needham & Company LLC decreased their price target on Micron Technology from $150.00 to $140.00 and set a “buy” rating on the stock in a research note on Monday, August 26th. Finally, BNP Paribas downgraded Micron Technology from an “outperform” rating to an “underperform” rating and decreased their price target for the company from $140.00 to $67.00 in a research note on Thursday, September 12th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-five have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $145.65.

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.