Lecap Asset Management Ltd. Invests $2.47 Million in Micron Technology, Inc. (NASDAQ:MU)

Lecap Asset Management Ltd. acquired a new position in shares of Micron Technology, Inc. (NASDAQ:MU) during the 4th quarter, Holdings Channel.com reports. The fund acquired 28,931 shares of the semiconductor manufacturer’s stock, valued at approximately $2,469,000. Micron Technology accounts for approximately 0.9% of Lecap Asset Management Ltd.’s investment portfolio, making the stock its 15th biggest position.

Several other institutional investors also recently modified their holdings of MU. Fortis Capital Advisors LLC acquired a new stake in Micron Technology in the 4th quarter valued at $25,000. OFI Invest Asset Management acquired a new stake in Micron Technology in the 3rd quarter valued at $27,000. Annis Gardner Whiting Capital Advisors LLC acquired a new stake in Micron Technology in the 3rd quarter valued at $28,000. Coppell Advisory Solutions LLC acquired a new stake in Micron Technology in the 2nd quarter valued at $32,000. Finally, VisionPoint Advisory Group LLC boosted its stake in Micron Technology by 68.3% in 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 in the last quarter. Institutional investors and hedge funds own 80.84% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently commented on MU shares. JPMorgan Chase & Co. boosted their price target on Micron Technology from $105.00 to $130.00 and gave the company an “overweight” rating in a research note on Thursday, March 21st. Robert W. Baird boosted their price objective on Micron Technology from $78.00 to $115.00 and gave the stock a “neutral” rating in a research note on Tuesday, March 19th. BMO Capital Markets boosted their price objective on Micron Technology from $80.00 to $90.00 and gave the stock an “outperform” rating in a research note on Monday, December 18th. StockNews.com raised Micron Technology from a “sell” rating to a “hold” rating in a research note on Friday, March 22nd. Finally, Citigroup reissued a “buy” rating and issued a $150.00 price objective on shares of Micron Technology in a research note on Thursday, April 4th. One analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-five have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $121.35.

Insider Activity at Micron Technology

In other Micron Technology news, CEO Sanjay Mehrotra sold 7,000 shares of the company’s stock in a transaction that occurred on Wednesday, January 17th. The stock was sold at an average price of $83.20, for a total value of $582,400.00. Following the sale, the chief executive officer now owns 642,251 shares in the company, valued at $53,435,283.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, EVP April S. Arnzen sold 4,890 shares of the firm’s stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $119.30, for a total transaction of $583,377.00. Following the completion of 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 sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Sanjay Mehrotra sold 7,000 shares of Micron Technology stock in a transaction dated Wednesday, January 17th. The stock was sold at an average price of $83.20, for a total value of $582,400.00. Following the completion of the transaction, the chief executive officer now directly owns 642,251 shares of the company’s stock, valued at $53,435,283.20. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 313,890 shares of company stock valued at $33,354,527. Insiders own 0.32% of the company’s stock.

Micron Technology Stock Down 3.9 %

Shares of MU stock traded down $4.99 on Friday, hitting $122.52. 24,808,212 shares of the stock were exchanged, compared to its average volume of 32,541,834. The company has a current ratio of 3.74, a quick ratio of 2.40 and a debt-to-equity ratio of 0.30. The firm has a market capitalization of $135.67 billion, a P/E ratio of -35.51 and a beta of 1.27. The business has a 50-day moving average of $99.93 and a 200 day moving average of $85.00. Micron Technology, Inc. has a fifty-two week low of $58.03 and a fifty-two week high of $130.54.

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 the consensus estimate 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 analysts’ expectations of $5.35 billion. During the same period in the prior year, the firm earned ($2.03) earnings per share. Micron Technology’s revenue for the quarter was up 57.7% compared to the same quarter last year. Equities analysts anticipate that Micron Technology, Inc. will post 0.24 EPS for the current year.

Micron Technology Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 16th. Investors of record on Monday, April 1st will be given a dividend of $0.115 per share. The ex-dividend date is Thursday, March 28th. This represents a $0.46 annualized dividend and a yield of 0.38%. Micron Technology’s dividend payout ratio (DPR) is presently -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.