Flputnam Investment Management Co. Invests $251,000 in Micron Technology, Inc. (NASDAQ:MU)

Flputnam Investment Management Co. bought a new stake in shares of Micron Technology, Inc. (NASDAQ:MU) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 2,936 shares of the semiconductor manufacturer’s stock, valued at approximately $251,000.

Other institutional investors also recently bought and sold shares of the company. Fortis Capital Advisors LLC acquired a new stake in Micron Technology in the fourth quarter worth about $25,000. OFI Invest Asset Management purchased a new position in shares of Micron Technology in the 3rd quarter valued at approximately $27,000. Annis Gardner Whiting Capital Advisors LLC acquired a new stake in Micron Technology in the 3rd quarter worth approximately $28,000. Coppell Advisory Solutions LLC purchased a new stake in Micron Technology during the 2nd quarter worth approximately $32,000. Finally, VisionPoint Advisory Group LLC increased its stake 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 purchasing an additional 198 shares in the last quarter. 80.84% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CEO Sanjay Mehrotra sold 45,000 shares of the business’s stock in a transaction that occurred on Thursday, January 25th. The stock was sold at an average price of $90.00, for a total transaction of $4,050,000.00. Following the completion of the sale, the chief executive officer now directly owns 788,557 shares in the company, valued at $70,970,130. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of the firm’s stock in a transaction that occurred on Wednesday, March 27th. The shares were sold at an average price of $119.30, for a total value of $583,377.00. Following the transaction, the executive vice president now directly owns 148,817 shares of the company’s stock, valued at approximately $17,753,868.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Sanjay Mehrotra sold 45,000 shares of the business’s stock in a transaction that occurred on Thursday, January 25th. The stock was sold at an average price of $90.00, for a total value of $4,050,000.00. Following the transaction, the chief executive officer now owns 788,557 shares in the company, valued at $70,970,130. The disclosure for this sale can be found here. In the last three months, insiders sold 313,890 shares of company stock worth $33,617,027. Corporate insiders own 0.32% of the company’s stock.

Wall Street Analysts Forecast Growth

MU has been the topic of a number of research analyst reports. Evercore ISI boosted their price objective on shares of Micron Technology from $90.00 to $100.00 and gave the company an “outperform” rating in a report on Thursday, December 21st. Rosenblatt Securities restated a “buy” rating and issued a $140.00 price objective on shares of Micron Technology in a research note on Monday, March 18th. Needham & Company LLC upped their target price on Micron Technology from $100.00 to $120.00 and gave the company a “buy” rating in a research report on Thursday, March 21st. Wedbush increased their price target on shares of Micron Technology from $103.00 to $130.00 and gave the stock an “outperform” rating in a report on Thursday, March 21st. Finally, KeyCorp lifted their price objective on shares of Micron Technology from $135.00 to $150.00 and gave the company an “overweight” rating in a research note on Monday, April 8th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $122.20.

Micron Technology Trading Down 3.8 %

Shares of MU stock opened at $111.93 on Friday. Micron Technology, Inc. has a 1-year low of $58.03 and a 1-year high of $130.54. The company has a market cap of $123.95 billion, a price-to-earnings ratio of -32.44 and a beta of 1.27. The company has a debt-to-equity ratio of 0.30, a current ratio of 3.74 and a quick ratio of 2.40. The stock has a 50 day simple moving average of $102.53 and a 200-day simple moving average of $86.40.

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

Micron Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 16th. Investors of record on Monday, April 1st were issued a $0.115 dividend. This represents a $0.46 annualized dividend and a yield of 0.41%. The ex-dividend date of this dividend was Thursday, March 28th. Micron Technology’s payout ratio is -13.33%.

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.