Sage Capital Advisors llc Purchases Shares of 2,391 Micron Technology, Inc. (NASDAQ:MU)

Sage Capital Advisors llc acquired a new position in Micron Technology, Inc. (NASDAQ:MU) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 2,391 shares of the semiconductor manufacturer’s stock, valued at approximately $248,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. grew its position in shares of Micron Technology by 1.8% in the 1st quarter. Vanguard Group Inc. now owns 96,666,590 shares of the semiconductor manufacturer’s stock worth $11,396,024,000 after buying an additional 1,681,815 shares during the last quarter. Capital World Investors lifted its stake in Micron Technology by 6.6% in the first quarter. Capital World Investors now owns 22,748,381 shares of the semiconductor manufacturer’s stock worth $2,681,807,000 after acquiring an additional 1,400,154 shares during the period. Capital International Investors boosted its holdings in Micron Technology by 15.1% in the first quarter. Capital International Investors now owns 18,303,506 shares of the semiconductor manufacturer’s stock valued at $2,157,800,000 after acquiring an additional 2,397,885 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in Micron Technology by 22.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 18,243,633 shares of the semiconductor manufacturer’s stock valued at $2,150,743,000 after purchasing an additional 3,315,988 shares during the period. Finally, Van ECK Associates Corp raised its holdings in Micron Technology by 6.9% in the 2nd quarter. Van ECK Associates Corp now owns 8,086,213 shares of the semiconductor manufacturer’s stock worth $1,063,580,000 after purchasing an additional 519,641 shares in the last quarter. Institutional investors own 80.84% of the company’s stock.

Analyst Upgrades and Downgrades

MU has been the subject of several research reports. Stifel Nicolaus lowered their target price on Micron Technology from $165.00 to $135.00 and set a “buy” rating for the company in a research note on Thursday, September 19th. Susquehanna decreased their price objective on shares of Micron Technology from $175.00 to $165.00 and set a “positive” rating for the company in a report on Thursday, September 26th. Needham & Company LLC reaffirmed a “buy” rating and set a $140.00 price target on shares of Micron Technology in a report on Thursday, September 26th. Rosenblatt Securities increased their price objective on shares of Micron Technology from $225.00 to $250.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Micron Technology from $130.00 to $180.00 and gave the stock an “overweight” rating in a research report on Thursday, June 27th. One equities 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. According to MarketBeat, Micron Technology presently has an average rating of “Moderate Buy” and a consensus price target of $142.85.

Insider Activity at Micron Technology

In other news, EVP April S. Arnzen sold 4,890 shares of the company’s stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $113.00, for a total value of $552,570.00. Following the completion of the sale, the executive vice president now owns 135,830 shares of the company’s stock, valued at approximately $15,348,790. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.32% of the stock is currently owned by corporate insiders.

Micron Technology Price Performance

Micron Technology stock opened at $102.54 on Wednesday. The company has a current ratio of 3.41, a quick ratio of 2.16 and a debt-to-equity ratio of 0.29. Micron Technology, Inc. has a 12-month low of $63.88 and a 12-month high of $157.54. The firm has a market capitalization of $113.70 billion, a PE ratio of -72.21, a price-to-earnings-growth ratio of 0.20 and a beta of 1.18. The firm has a 50-day moving average price of $96.56 and a 200-day moving average price of $115.19.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings data on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 EPS for the quarter, beating the consensus estimate of $0.97 by $0.21. The company had revenue of $7.75 billion for the quarter, compared to the consensus estimate of $7.65 billion. Micron Technology had a negative return on equity of 4.01% and a negative net margin of 7.20%. Micron Technology’s quarterly revenue was up 93.3% on a year-over-year basis. During the same quarter in the prior year, the company posted ($1.21) EPS. As a group, equities research analysts forecast that Micron Technology, Inc. will post 0.61 EPS for the current year.

Micron Technology Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 23rd. Stockholders of record on Monday, October 7th will be paid a dividend of $0.115 per share. The ex-dividend date of this dividend is Monday, October 7th. This represents a $0.46 annualized dividend and a dividend yield of 0.45%. Micron Technology’s dividend payout ratio is currently -32.39%.

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.