Deerfield Management Company L.P. Series C Boosts Stock Position in Micron Technology, Inc. (NASDAQ:MU)

Deerfield Management Company L.P. Series C raised its position in Micron Technology, Inc. (NASDAQ:MU) by 78.9% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 6,793 shares of the semiconductor manufacturer’s stock after acquiring an additional 2,996 shares during the quarter. Deerfield Management Company L.P. Series C’s holdings in Micron Technology were worth $893,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Atria Investments Inc raised its stake in shares of Micron Technology by 0.3% in the first quarter. Atria Investments Inc now owns 27,749 shares of the semiconductor manufacturer’s stock valued at $3,269,000 after acquiring an additional 93 shares in the last quarter. Aspect Partners LLC boosted its stake in shares of Micron Technology by 39.8% in the 2nd quarter. Aspect Partners LLC now owns 330 shares of the semiconductor manufacturer’s stock valued at $43,000 after buying an additional 94 shares during the period. Revolve Wealth Partners LLC boosted its stake in shares of Micron Technology by 1.5% in the 1st quarter. Revolve Wealth Partners LLC now owns 6,582 shares of the semiconductor manufacturer’s stock valued at $776,000 after buying an additional 98 shares during the period. Ameritas Advisory Services LLC grew its position in shares of Micron Technology by 1.3% during the second quarter. Ameritas Advisory Services LLC now owns 7,625 shares of the semiconductor manufacturer’s stock worth $1,003,000 after buying an additional 98 shares in the last quarter. Finally, LRI Investments LLC grew its holdings in Micron Technology by 57.2% during the 2nd quarter. LRI Investments LLC now owns 272 shares of the semiconductor manufacturer’s stock worth $36,000 after acquiring an additional 99 shares in the last quarter. 80.84% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on MU shares. Robert W. Baird increased their target price on Micron Technology from $150.00 to $172.00 and gave the company an “outperform” rating in a report on Monday, June 24th. BNP Paribas cut Micron Technology from an “outperform” rating to an “underperform” rating and decreased their target price for the stock from $140.00 to $67.00 in a research note on Thursday, September 12th. TD Cowen increased their price target on shares of Micron Technology from $115.00 to $135.00 and gave the company a “buy” rating in a research note on Thursday. The Goldman Sachs Group boosted their price objective on shares of Micron Technology from $138.00 to $158.00 and gave the stock a “buy” rating in a research report on Thursday, June 27th. Finally, Piper Sandler lifted their price target on shares of Micron Technology from $130.00 to $150.00 and gave the stock an “overweight” rating in a research note on Thursday, June 27th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-five have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $145.23.

Micron Technology Stock Up 14.7 %

MU stock opened at $109.88 on Friday. Micron Technology, Inc. has a one year low of $63.83 and a one year high of $157.54. The stock has a market capitalization of $121.84 billion, a P/E ratio of -77.38, a PEG ratio of 0.20 and a beta of 1.17. The company has a 50 day moving average price of $97.92 and a two-hundred day moving average price of $114.64. 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 released its earnings results on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 EPS for the quarter, beating the consensus estimate of $0.97 by $0.21. Micron Technology had a negative return on equity of 4.01% and a negative net margin of 7.20%. The firm had revenue of $7.75 billion during the quarter, compared to analyst estimates of $7.65 billion. During the same period in the prior year, the firm posted ($1.21) earnings per share. The business’s quarterly revenue was up 93.3% compared to the same quarter last year. As a group, sell-side analysts expect that Micron Technology, Inc. will post 0.61 EPS for the current year.

Micron Technology Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 23rd. Investors of record on Monday, October 7th will be given a $0.115 dividend. The ex-dividend date is Monday, October 7th. This represents a $0.46 annualized dividend and a dividend yield of 0.42%. Micron Technology’s dividend payout ratio is presently -32.39%.

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.