SPX Gestao de Recursos Ltda Invests $4.08 Million in Micron Technology, Inc. (NASDAQ:MU)

SPX Gestao de Recursos Ltda bought a new position in Micron Technology, Inc. (NASDAQ:MU) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 31,000 shares of the semiconductor manufacturer’s stock, valued at approximately $4,077,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Hobbs Group Advisors LLC bought a new stake in Micron Technology during the second quarter valued at approximately $28,000. DecisionPoint Financial LLC bought a new position in shares of Micron Technology in the first quarter worth about $25,000. Valued Wealth Advisors LLC grew its stake in shares of Micron Technology by 230.7% during the 1st quarter. Valued Wealth Advisors LLC now owns 248 shares of the semiconductor manufacturer’s stock valued at $29,000 after acquiring an additional 173 shares during the period. Richard W. Paul & Associates LLC raised 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 worth $34,000 after acquiring an additional 144 shares during the period. Finally, LRI Investments LLC raised its stake in Micron Technology by 57.2% during the 2nd quarter. LRI Investments LLC now owns 272 shares of the semiconductor manufacturer’s stock worth $36,000 after acquiring an additional 99 shares during the period. 80.84% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of the firm’s stock in a transaction 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 sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.32% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research firms recently weighed in on MU. Bank of America lifted their target price on shares of Micron Technology from $110.00 to $125.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. The Goldman Sachs Group increased their target price on Micron Technology from $138.00 to $158.00 and gave the stock a “buy” rating in a research report on Thursday, June 27th. TD Cowen lifted their target price on Micron Technology from $115.00 to $135.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. Citigroup dropped their price target on Micron Technology from $175.00 to $150.00 and set a “buy” rating for the company in a research note on Tuesday, September 17th. Finally, Piper Sandler boosted their target price on shares of Micron Technology from $130.00 to $150.00 and gave the stock an “overweight” rating in a report on Thursday, June 27th. One research analyst has rated the stock with a sell rating, two have given a hold rating and twenty-five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Micron Technology has an average rating of “Moderate Buy” and an average price target of $144.38.

Micron Technology Stock Performance

Shares of NASDAQ MU opened at $103.71 on Tuesday. Micron Technology, Inc. has a 12 month low of $63.88 and a 12 month high of $157.54. The company has a market cap of $115.00 billion, a P/E ratio of -73.04, a P/E/G ratio of 0.20 and a beta of 1.17. The business’s 50 day moving average is $97.40 and its two-hundred day moving average is $115.05. 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, September 25th. The semiconductor manufacturer reported $1.18 earnings per share for the quarter, beating analysts’ consensus estimates of $0.97 by $0.21. Micron Technology had a negative return on equity of 4.01% and a negative net margin of 7.20%. The firm had revenue of $7.75 billion during the quarter, compared to analysts’ expectations of $7.65 billion. During the same period last year, the firm posted ($1.21) EPS. The business’s revenue was up 93.3% on a year-over-year basis. On average, equities analysts expect that Micron Technology, Inc. will post 0.61 EPS for the current year.

Micron Technology Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 23rd. Shareholders of record on Monday, October 7th will be given a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a yield of 0.44%. The ex-dividend date of this dividend is Monday, October 7th. Micron Technology’s dividend payout ratio (DPR) is presently -32.39%.

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.