Triumph Capital Management Has $589,000 Holdings in Micron Technology, Inc. (NASDAQ:MU)

Triumph Capital Management increased its stake in Micron Technology, Inc. (NASDAQ:MU) by 214.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 7,000 shares of the semiconductor manufacturer’s stock after purchasing an additional 4,776 shares during the period. Triumph Capital Management’s holdings in Micron Technology were worth $589,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of MU. Vanguard Group Inc. grew its holdings in shares of Micron Technology by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 99,857,205 shares of the semiconductor manufacturer’s stock valued at $8,403,982,000 after acquiring an additional 888,087 shares in the last quarter. FMR LLC lifted its stake in Micron Technology by 34.6% in the fourth quarter. FMR LLC now owns 47,672,462 shares of the semiconductor manufacturer’s stock valued at $4,012,114,000 after acquiring an additional 12,249,341 shares during the last quarter. Capital World Investors raised its holdings in shares of Micron Technology by 63.7% in the 4th quarter. Capital World Investors now owns 41,096,391 shares of the semiconductor manufacturer’s stock valued at $3,458,673,000 after purchasing an additional 15,993,036 shares during the period. Geode Capital Management LLC increased its position in Micron Technology by 3.1% during the fourth quarter. Geode Capital Management LLC now owns 24,449,827 shares of the semiconductor manufacturer’s stock worth $2,052,973,000 after buying an additional 726,282 shares during the last quarter. Finally, Norges Bank bought a new position in shares of Micron Technology during the 4th quarter worth approximately $1,470,875,000. Institutional investors and hedge funds own 80.84% of the company’s stock.

Insider Buying and Selling at Micron Technology

In other Micron Technology news, EVP April S. Arnzen sold 15,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 25th. The stock was sold at an average price of $96.18, for a total value of $1,442,700.00. Following the transaction, the executive vice president now directly owns 164,769 shares of the company’s stock, valued at approximately $15,847,482.42. The trade was a 8.34 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Mary Pat Mccarthy sold 2,404 shares of Micron Technology stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $92.93, for a total transaction of $223,403.72. Following the completion of the sale, the director now owns 27,358 shares of the company’s stock, valued at $2,542,378.94. This represents a 8.08 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.30% of the company’s stock.

Micron Technology Price Performance

Shares of MU stock opened at $76.95 on Thursday. The company has a quick ratio of 1.75, a current ratio of 2.72 and a debt-to-equity ratio of 0.28. The company has a market cap of $86.00 billion, a P/E ratio of 22.18 and a beta of 1.18. Micron Technology, Inc. has a twelve month low of $61.54 and a twelve month high of $157.54. The business has a fifty day simple moving average of $84.23 and a 200 day simple moving average of $94.38.

Micron Technology (NASDAQ:MU) last released its quarterly earnings data on Thursday, March 20th. The semiconductor manufacturer reported $1.56 earnings per share for the quarter, beating the consensus estimate of $1.43 by $0.13. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. The company had revenue of $8.05 billion for the quarter, compared to the consensus estimate of $7.93 billion. During the same quarter last year, the business posted $0.42 EPS. Micron Technology’s revenue for the quarter was up 38.2% on a year-over-year basis. On average, sell-side analysts forecast that Micron Technology, Inc. will post 6.08 EPS for the current fiscal year.

Micron Technology Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were given a dividend of $0.115 per share. This represents a $0.46 annualized dividend and a yield of 0.60%. The ex-dividend date of this dividend was Monday, March 31st. Micron Technology’s dividend payout ratio is currently 11.03%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on MU shares. Wells Fargo & Company reaffirmed an “equal weight” rating on shares of Micron Technology in a report on Monday. KGI Securities upgraded shares of Micron Technology to a “strong-buy” rating in a research note on Friday, February 21st. China Renaissance lowered shares of Micron Technology from a “buy” rating to a “hold” rating and set a $84.00 price target on the stock. in a research note on Wednesday, March 26th. Rosenblatt Securities cut their price objective on shares of Micron Technology from $250.00 to $200.00 and set a “buy” rating for the company in a research report on Friday, March 21st. Finally, UBS Group reduced their price objective on Micron Technology from $130.00 to $92.00 and set a “buy” rating for the company in a report on Monday. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Micron Technology presently has a consensus rating of “Moderate Buy” and an average target price of $127.04.

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.