Versant Capital Management Inc Raises Stock Holdings in Micron Technology, Inc. (NASDAQ:MU)

Versant Capital Management Inc boosted its holdings in shares of Micron Technology, Inc. (NASDAQ:MU) by 80.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,662 shares of the semiconductor manufacturer’s stock after acquiring an additional 1,188 shares during the quarter. Versant Capital Management Inc’s holdings in Micron Technology were worth $224,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the business. Financial Counselors Inc. bought a new position in Micron Technology in the second quarter worth approximately $211,000. Foundations Investment Advisors LLC grew its position in shares of Micron Technology by 20.6% during the 2nd quarter. Foundations Investment Advisors LLC now owns 6,615 shares of the semiconductor manufacturer’s stock worth $870,000 after buying an additional 1,131 shares in the last quarter. FineMark National Bank & Trust increased its stake in shares of Micron Technology by 4.1% during the second quarter. FineMark National Bank & Trust now owns 3,696 shares of the semiconductor manufacturer’s stock valued at $486,000 after buying an additional 147 shares during the period. TD Asset Management Inc raised its holdings in shares of Micron Technology by 2.6% in the second quarter. TD Asset Management Inc now owns 550,866 shares of the semiconductor manufacturer’s stock valued at $72,455,000 after acquiring an additional 13,728 shares in the last quarter. Finally, Columbia Asset Management raised its holdings in shares of Micron Technology by 26.2% in the second quarter. Columbia Asset Management now owns 4,992 shares of the semiconductor manufacturer’s stock valued at $657,000 after acquiring an additional 1,037 shares in the last quarter. Institutional investors own 80.84% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on MU shares. Bank of America downgraded shares of Micron Technology from a “buy” rating to a “neutral” rating and cut their target price for the company from $125.00 to $110.00 in a research report on Thursday, December 19th. Needham & Company LLC cut their price objective on shares of Micron Technology from $140.00 to $120.00 and set a “buy” rating on the stock in a report on Thursday, December 19th. Wells Fargo & Company lowered their target price on Micron Technology from $175.00 to $140.00 and set an “overweight” rating for the company in a report on Thursday, December 19th. Citigroup dropped their target price on Micron Technology from $175.00 to $150.00 and set a “buy” rating on the stock in a research report on Tuesday, September 17th. Finally, UBS Group reduced their price target on Micron Technology from $135.00 to $125.00 and set a “buy” rating for the company in a research report on Thursday, December 19th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-three have assigned a buy rating to the stock. Based on data from MarketBeat.com, Micron Technology presently has a consensus rating of “Moderate Buy” and a consensus target price of $135.24.

Micron Technology Stock Up 2.9 %

MU stock opened at $89.87 on Friday. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.64 and a quick ratio of 1.68. The firm’s fifty day simple moving average is $99.42 and its 200-day simple moving average is $105.69. Micron Technology, Inc. has a 12 month low of $79.15 and a 12 month high of $157.54. The company has a market capitalization of $100.13 billion, a P/E ratio of 132.16 and a beta of 1.18.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings results on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 earnings per share for the quarter, topping the consensus estimate of $1.60 by $0.19. Micron Technology had a return on equity of 1.58% and a net margin of 3.10%. The company had revenue of $8.71 billion for the quarter, compared to the consensus estimate of $8.71 billion. During the same period last year, the firm earned ($0.95) EPS. The firm’s revenue for the quarter was up 84.3% compared to the same quarter last year. As a group, equities research analysts forecast that Micron Technology, Inc. will post 8.31 earnings per share for the current year.

Micron Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Monday, December 30th will be paid a dividend of $0.115 per share. The ex-dividend date is Monday, December 30th. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.51%. Micron Technology’s payout ratio is 13.26%.

Insider Activity

In other news, EVP April S. Arnzen sold 4,890 shares of the firm’s stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $85.21, for a total transaction of $416,676.90. Following the sale, the executive vice president now directly owns 181,223 shares in the company, valued at $15,442,011.83. This trade represents a 2.63 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.30% of the company’s stock.

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.