Norden Group LLC Takes $212,000 Position in Micron Technology, Inc. (NASDAQ:MU)

Norden Group LLC acquired a new position in shares of Micron Technology, Inc. (NASDAQ:MU) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 2,486 shares of the semiconductor manufacturer’s stock, valued at approximately $212,000.

Other institutional investors have also added to or reduced their stakes in the company. OFI Invest Asset Management purchased a new position in Micron Technology in the 3rd quarter worth approximately $27,000. Annis Gardner Whiting Capital Advisors LLC purchased a new position in shares of Micron Technology in the third quarter worth $28,000. VisionPoint Advisory Group LLC raised its holdings in Micron Technology by 68.3% during the 3rd quarter. VisionPoint Advisory Group LLC now owns 488 shares of the semiconductor manufacturer’s stock valued at $33,000 after buying an additional 198 shares during the last quarter. Cape Investment Advisory Inc. boosted its position in Micron Technology by 51.0% during the 3rd quarter. Cape Investment Advisory Inc. now owns 592 shares of the semiconductor manufacturer’s stock valued at $40,000 after buying an additional 200 shares during the period. Finally, Clear Street Markets LLC grew its holdings in Micron Technology by 67.5% in the 3rd quarter. Clear Street Markets LLC now owns 623 shares of the semiconductor manufacturer’s stock worth $42,000 after acquiring an additional 251 shares during the last quarter. Institutional investors own 80.84% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Sanjay Mehrotra sold 7,000 shares of the firm’s stock in a transaction on Tuesday, April 23rd. The shares were sold at an average price of $111.93, for a total transaction of $783,510.00. Following the completion of the transaction, the chief executive officer now directly owns 719,049 shares of the company’s stock, valued at $80,483,154.57. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Micron Technology news, CEO Sanjay Mehrotra sold 7,000 shares of the firm’s stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $111.93, for a total transaction of $783,510.00. Following the completion of the transaction, the chief executive officer now owns 719,049 shares in the company, valued at approximately $80,483,154.57. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP April S. Arnzen sold 4,890 shares of the company’s stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $119.30, for a total value of $583,377.00. Following the sale, the executive vice president now directly owns 148,817 shares in the company, valued at $17,753,868.10. The disclosure for this sale can be found here. Insiders sold 261,890 shares of company stock worth $29,129,527 in the last three months. 0.32% of the stock is owned by company insiders.

Micron Technology Stock Performance

Shares of MU stock opened at $109.70 on Thursday. Micron Technology, Inc. has a 1 year low of $59.55 and a 1 year high of $130.54. The firm has a fifty day moving average price of $107.85 and a 200-day moving average price of $89.19. The company has a debt-to-equity ratio of 0.30, a current ratio of 3.74 and a quick ratio of 2.40.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings data on Wednesday, March 20th. The semiconductor manufacturer reported $0.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.69. Micron Technology had a negative return on equity of 8.98% and a negative net margin of 20.57%. The company had revenue of $5.82 billion during the quarter, compared to the consensus estimate of $5.35 billion. During the same period in the previous year, the company posted ($2.03) EPS. The firm’s revenue was up 57.7% on a year-over-year basis. As a group, sell-side analysts anticipate that Micron Technology, Inc. will post 0.24 earnings per share for the current year.

Micron Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 16th. Investors of record on Monday, April 1st were issued a $0.115 dividend. The ex-dividend date of this dividend was Thursday, March 28th. This represents a $0.46 dividend on an annualized basis and a yield of 0.42%. Micron Technology’s dividend payout ratio is presently -13.33%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. Raymond James lifted their target price on shares of Micron Technology from $90.00 to $100.00 and gave the company an “outperform” rating in a research note on Friday, January 19th. Argus raised Micron Technology from a “hold” rating to a “buy” rating and set a $140.00 price objective on the stock in a research report on Thursday, March 21st. JPMorgan Chase & Co. increased their target price on Micron Technology from $105.00 to $130.00 and gave the stock an “overweight” rating in a research report on Thursday, March 21st. Bank of America lifted their price target on Micron Technology from $120.00 to $144.00 and gave the company a “buy” rating in a research report on Monday, April 1st. Finally, Robert W. Baird increased their price objective on Micron Technology from $78.00 to $115.00 and gave the stock a “neutral” rating in a report on Tuesday, March 19th. One research analyst has rated the stock with a sell rating, two have given a hold rating and twenty-four have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $122.20.

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.