Sora Investors LLC Buys New Stake in Micron Technology, Inc. (NASDAQ:MU)

Sora Investors LLC acquired a new stake in Micron Technology, Inc. (NASDAQ:MU) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 180,000 shares of the semiconductor manufacturer’s stock, valued at approximately $18,668,000. Micron Technology makes up about 3.3% of Sora Investors LLC’s portfolio, making the stock its 7th largest position.

Other hedge funds also recently made changes to their positions in the company. Hobbs Group Advisors LLC purchased a new stake in shares of Micron Technology in the second quarter valued at about $28,000. Highline Wealth Partners LLC acquired a new stake in Micron Technology during the 3rd quarter worth approximately $26,000. Richard W. Paul & Associates LLC grew its stake in shares of Micron Technology by 128.6% in the 2nd quarter. Richard W. Paul & Associates LLC now owns 256 shares of the semiconductor manufacturer’s stock valued at $34,000 after purchasing an additional 144 shares during the last quarter. LRI Investments LLC increased its holdings 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 valued at $36,000 after purchasing an additional 99 shares during the period. Finally, Davis Capital Management purchased a new stake in shares of Micron Technology during the third quarter worth approximately $30,000. Hedge funds and other institutional investors own 80.84% of the company’s stock.

Analyst Upgrades and Downgrades

MU has been the subject of a number of analyst reports. Wedbush reissued an “outperform” rating and set a $140.00 target price on shares of Micron Technology in a research note on Thursday, September 26th. Needham & Company LLC reissued a “buy” rating and issued a $140.00 target price on shares of Micron Technology in a report on Thursday, September 26th. Robert W. Baird lowered their price target on shares of Micron Technology from $172.00 to $150.00 and set an “outperform” rating on the stock in a research note on Friday, September 27th. UBS Group reduced their price objective on shares of Micron Technology from $153.00 to $135.00 and set a “buy” rating for the company in a research note on Tuesday, September 17th. Finally, Raymond James upped their target price on shares of Micron Technology from $125.00 to $140.00 and gave the stock an “outperform” rating in a research report on Thursday, September 26th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-six have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $143.04.

Micron Technology Stock Down 2.3 %

Shares of Micron Technology stock opened at $100.87 on Friday. Micron Technology, Inc. has a twelve month low of $72.93 and a twelve month high of $157.54. The stock has a market cap of $112.37 billion, a price-to-earnings ratio of 148.34 and a beta of 1.16. The company has a current ratio of 2.64, a quick ratio of 1.68 and a debt-to-equity ratio of 0.29. The company has a fifty day moving average price of $103.79 and a 200 day moving average price of $110.81.

Micron Technology (NASDAQ:MU) last released its quarterly earnings results on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 earnings per share for the quarter, topping analysts’ consensus estimates of $0.97 by $0.21. The firm had revenue of $7.75 billion during the quarter, compared to analysts’ expectations of $7.65 billion. Micron Technology had a return on equity of 1.58% and a net margin of 3.10%. Micron Technology’s quarterly revenue was up 93.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($1.21) EPS. Equities research analysts forecast that Micron Technology, Inc. will post 8.31 earnings per share for the current fiscal year.

Micron Technology Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 23rd. Stockholders of record on Monday, October 7th were paid a $0.115 dividend. The ex-dividend date was Monday, October 7th. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.46%. Micron Technology’s dividend payout ratio (DPR) is presently 67.65%.

Insider Buying and Selling

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of the stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $113.00, for a total transaction of $552,570.00. Following the sale, the executive vice president now directly owns 135,830 shares of the company’s stock, valued at approximately $15,348,790. This represents a 3.47 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.30% of the company’s stock.

Micron Technology Company 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.