Beck Capital Management LLC Invests $3.13 Million in Micron Technology, Inc. (NASDAQ:MU)

Beck Capital Management LLC purchased a new position in Micron Technology, Inc. (NASDAQ:MU) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 23,766 shares of the semiconductor manufacturer’s stock, valued at approximately $3,126,000.

Other institutional investors have also modified their holdings of the company. DecisionPoint Financial LLC purchased a new stake in shares of Micron Technology in the first quarter valued at approximately $25,000. Pingora Partners LLC acquired a new position in Micron Technology during the fourth quarter worth $26,000. Hobbs Group Advisors LLC purchased a new stake in Micron Technology in the 2nd quarter valued at $28,000. Frank Rimerman Advisors LLC acquired a new stake in shares of Micron Technology in the 4th quarter worth $29,000. Finally, Valued Wealth Advisors LLC increased its stake in shares of Micron Technology by 230.7% in the 1st quarter. Valued Wealth Advisors LLC now owns 248 shares of the semiconductor manufacturer’s stock worth $29,000 after acquiring an additional 173 shares during the last quarter. Institutional investors and hedge funds own 80.84% of the company’s stock.

Insiders Place Their Bets

In other Micron Technology 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 value of $664,355.40. Following the transaction, the executive vice president now directly owns 142,321 shares in the company, valued at $19,335,731.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.32% of the stock is owned by company insiders.

Micron Technology Stock Performance

Shares of Micron Technology stock opened at $90.90 on Monday. The business has a 50-day simple moving average of $99.81 and a 200-day simple moving average of $114.83. The company has a market cap of $100.79 billion, a PE ratio of -64.01 and a beta of 1.17. Micron Technology, Inc. has a one year low of $63.83 and a one year high of $157.54. The company has a debt-to-equity ratio of 0.29, a quick ratio of 2.16 and a current ratio of 3.41.

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

Micron Technology Announces Dividend

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

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the stock. Needham & Company LLC decreased their target price on shares of Micron Technology from $150.00 to $140.00 and set a “buy” rating on the stock in a report on Monday, August 26th. Wolfe Research upped their price objective on Micron Technology from $150.00 to $200.00 and gave the company an “outperform” rating in a report on Friday, June 21st. Morgan Stanley cut their target price on Micron Technology from $140.00 to $100.00 and set an “equal weight” rating for the company in a research note on Monday, September 16th. BNP Paribas lowered 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. Finally, UBS Group lowered their price target on Micron Technology from $153.00 to $135.00 and set a “buy” rating for the company in a report on Tuesday, September 17th. One equities 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. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $145.65.

About Micron Technology

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.