MBB Public Markets I LLC Has $54.94 Million Stock Holdings in Micron Technology, Inc. (NASDAQ:MU)

MBB Public Markets I LLC raised its stake in Micron Technology, Inc. (NASDAQ:MU) by 12.4% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 417,731 shares of the semiconductor manufacturer’s stock after buying an additional 46,156 shares during the period. Micron Technology makes up 1.1% of MBB Public Markets I LLC’s investment portfolio, making the stock its 14th biggest position. MBB Public Markets I LLC’s holdings in Micron Technology were worth $54,944,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Atria Investments Inc increased 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 buying an additional 93 shares during the period. Aspect Partners LLC increased its position in 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 acquiring an additional 94 shares during the period. Revolve Wealth Partners LLC raised its stake in shares of Micron Technology by 1.5% during the first quarter. Revolve Wealth Partners LLC now owns 6,582 shares of the semiconductor manufacturer’s stock valued at $776,000 after acquiring an additional 98 shares during the last quarter. Ameritas Advisory Services LLC lifted its holdings 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 purchasing an additional 98 shares during the period. Finally, LRI Investments LLC grew its stake in shares of Micron Technology by 57.2% in the second quarter. LRI Investments LLC now owns 272 shares of the semiconductor manufacturer’s stock worth $36,000 after purchasing an additional 99 shares during the last quarter. Institutional investors own 80.84% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on MU shares. JPMorgan Chase & Co. lifted their target price on Micron Technology from $130.00 to $180.00 and gave the stock an “overweight” rating in a report on Thursday, June 27th. Cantor Fitzgerald upped their target price on Micron Technology from $150.00 to $180.00 and gave the company an “overweight” rating in a report on Monday, June 17th. Raymond James increased their target price on shares of Micron Technology from $125.00 to $140.00 and gave the company an “outperform” rating in a research report on Thursday. BNP Paribas downgraded shares of Micron Technology from an “outperform” rating to an “underperform” rating and dropped their price target for the stock from $140.00 to $67.00 in a research report on Thursday, September 12th. Finally, Wolfe Research upped their price objective on shares of Micron Technology from $150.00 to $200.00 and gave the company an “outperform” rating in a research note on Friday, June 21st. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $145.23.

Micron Technology Price Performance

Shares of MU opened at $109.88 on Friday. The business’s fifty day moving average is $97.92 and its 200 day moving average is $114.64. Micron Technology, Inc. has a 12-month low of $63.83 and a 12-month high of $157.54. The company has a quick ratio of 2.16, a current ratio of 3.41 and a debt-to-equity ratio of 0.29. The stock has a market cap of $121.84 billion, a P/E ratio of -77.38, a P/E/G ratio of 0.20 and a beta of 1.17.

Micron Technology (NASDAQ:MU) last released its quarterly earnings data on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 earnings per share for the quarter, beating analysts’ consensus estimates of $0.97 by $0.21. The firm had revenue of $7.75 billion for the quarter, compared to analyst estimates of $7.65 billion. Micron Technology had a negative net margin of 7.20% and a negative return on equity of 4.01%. The business’s quarterly revenue was up 93.3% compared to the same quarter last year. During the same period last year, the firm earned ($1.21) earnings per share. Sell-side analysts anticipate that Micron Technology, Inc. will post 0.61 earnings per share for the current fiscal year.

Micron Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 23rd. Shareholders of record on Monday, October 7th will be issued a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a yield of 0.42%. The ex-dividend date is Monday, October 7th. Micron Technology’s dividend payout ratio is currently -32.39%.

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.