Credit Capital Investments LLC Boosts Stake in Micron Technology, Inc. (NASDAQ:MU)

Credit Capital Investments LLC raised its holdings in shares of Micron Technology, Inc. (NASDAQ:MUFree Report) by 1.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 55,001 shares of the semiconductor manufacturer’s stock after acquiring an additional 1,000 shares during the quarter. Micron Technology makes up about 6.5% of Credit Capital Investments LLC’s investment portfolio, making the stock its 4th biggest position. Credit Capital Investments LLC’s holdings in Micron Technology were worth $4,694,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Norges Bank purchased a new position in Micron Technology in the fourth quarter worth about $769,372,000. FMR LLC grew its position in Micron Technology by 47.9% in the third quarter. FMR LLC now owns 21,899,184 shares of the semiconductor manufacturer’s stock worth $1,489,801,000 after acquiring an additional 7,089,790 shares in the last quarter. Wellington Management Group LLP grew its position in Micron Technology by 43.4% in the third quarter. Wellington Management Group LLP now owns 17,383,628 shares of the semiconductor manufacturer’s stock worth $1,182,608,000 after acquiring an additional 5,257,201 shares in the last quarter. Morgan Stanley grew its position in Micron Technology by 19.7% in the third quarter. Morgan Stanley now owns 17,303,400 shares of the semiconductor manufacturer’s stock worth $1,177,151,000 after acquiring an additional 2,852,688 shares in the last quarter. Finally, California Public Employees Retirement System grew its position in Micron Technology by 125.0% in the fourth quarter. California Public Employees Retirement System now owns 4,541,662 shares of the semiconductor manufacturer’s stock worth $387,585,000 after acquiring an additional 2,523,267 shares in the last quarter. 80.84% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, SVP Michael W. Bokan sold 15,000 shares of the stock in a transaction that occurred on Tuesday, April 30th. The shares were sold at an average price of $115.55, for a total transaction of $1,733,250.00. Following the completion of the transaction, the senior vice president now owns 153,387 shares of the company’s stock, valued at approximately $17,723,867.85. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, SVP Michael W. Bokan sold 15,000 shares of the stock in a transaction that occurred on Tuesday, April 30th. The shares were sold at an average price of $115.55, for a total transaction of $1,733,250.00. Following the completion of the transaction, the senior vice president now owns 153,387 shares of the company’s stock, valued at approximately $17,723,867.85. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Manish H. Bhatia sold 53,317 shares of the firm’s stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $119.18, for a total transaction of $6,354,320.06. Following the completion of the transaction, the executive vice president now directly owns 319,119 shares of the company’s stock, valued at approximately $38,032,602.42. The disclosure for this sale can be found here. In the last quarter, insiders sold 365,446 shares of company stock valued at $43,536,203. Company insiders own 0.32% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have issued reports on MU shares. The Goldman Sachs Group boosted their target price on Micron Technology from $122.00 to $138.00 and gave the company a “buy” rating in a research report on Tuesday, June 4th. Citigroup restated a “buy” rating and set a $150.00 target price on shares of Micron Technology in a research report on Thursday, April 4th. Argus upgraded Micron Technology from a “hold” rating to a “buy” rating and set a $140.00 target price for the company in a research report on Thursday, March 21st. Rosenblatt Securities restated a “buy” rating and set a $140.00 target price on shares of Micron Technology in a research report on Monday, March 18th. Finally, Stifel Nicolaus restated a “buy” rating and set a $140.00 target price on shares of Micron Technology in a research report on Friday, April 12th. Two equities research analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company. According to MarketBeat, Micron Technology presently has a consensus rating of “Moderate Buy” and a consensus price target of $130.16.

View Our Latest Stock Analysis on Micron Technology

Micron Technology Stock Performance

NASDAQ:MU traded up $0.25 during mid-day trading on Tuesday, hitting $135.07. The company’s stock had a trading volume of 14,111,397 shares, compared to its average volume of 19,100,109. Micron Technology, Inc. has a 1 year low of $60.50 and a 1 year high of $135.85. 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 market cap of $149.57 billion, a price-to-earnings ratio of -39.15 and a beta of 1.21. The business’s fifty day moving average is $122.50 and its two-hundred day moving average is $100.39.

Micron Technology (NASDAQ:MUGet Free Report) last posted its quarterly earnings results on Wednesday, March 20th. The semiconductor manufacturer reported $0.42 EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $5.35 billion. During the same period in the prior year, the company earned ($2.03) earnings per share. The firm’s revenue was up 57.7% on a year-over-year basis. Analysts anticipate that Micron Technology, Inc. will post 0.29 EPS for the current fiscal year.

Micron Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 16th. Investors of record on Monday, April 1st were given a dividend of $0.115 per share. The ex-dividend date of this dividend was Thursday, March 28th. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.34%. Micron Technology’s payout ratio is currently -13.33%.

About Micron Technology

(Free Report)

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.

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Institutional Ownership by Quarter for Micron Technology (NASDAQ:MU)

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