V Square Quantitative Management LLC Increases Stake in Micron Technology
V Square Quantitative Management LLC has significantly increased its position in Micron Technology, Inc. (NASDAQ: MU), now holding shares worth $769,000. The firm grew its stake in the semiconductor giant by an astonishing 210.4% during the fourth quarter, solidifying its trust in Micron Technology’s growth potential.
Sunpointe LLC also acquired a new stake in Micron Technology during the same period, worth approximately $234,000.
V Square’s Holdings have surged to 9,015 shares, up by 6,111 shares from its prior stance, marking a substantial investment commitment. Spouting Rock Asset Management LLC echoed a similar sentiment by increasing its holdings by 26.0%, now owning 4,193 shares worth $358,000.
Other Major Institutional Moves
GLOBALT Investments LLC made notable waves with a new $4,310,000 position in Micron Technology. Concurrently, Bluefin Capital Management LLC initiated a stake valued at $1,342,000. In an even more significant move, Occudo Quantitative Strategies LP established a new position worth $6,018,000. Large-scale institutional investors and hedge funds now own a hefty 80.84% of Micron Technology’s stock.
Analyst Ratings and Price Targets
Wall Street Analysts are overwhelmingly bullish on Micron Technology. Major firms have revised their price targets favorably:
- TD Cowen: Raised from $120.00 to $150.00 with an “outperform” rating.
- UBS Group: Increased from $125.00 to $155.00, maintaining a “buy” rating.
- Fox Advisors: Upgraded to “overweight” from “equal weight”.
- Citigroup: Reaffirmed a “buy” rating with a target of $150.00.
- Argus: Moved from “hold” to “buy” with a $140.00 price target.
Of the analysts covering Micron Technology, twenty-five have issued a buy rating, resulting in a consensus rating of “Moderate Buy” with a consensus target price of $130.16.
Insider Transactions
Recent insider transactions reveal top executives selling shares:
- CEO Sanjay Mehrotra sold 7,000 shares at an average price of $134.57, totaling $941,990.
- EVP April S. Arnzen sold 4,890 shares at $119.30, totaling $583,377.
In the last quarter, insiders unloaded 372,446 shares, valued at $44,478,193. Corporate insiders currently hold 0.32% of the company’s stock.
Stock Performance and Financial Highlights
Shares of NASDAQ: MU opened at $141.36, with a 52-week low of $60.50 and a high of $144.22. Metrics highlight a debt-to-equity ratio of 0.30, a quick ratio of 2.40, and a current ratio of 3.74. The stock's 50-day moving average stands at $123.49, with a 200-day moving average of $101.41.
Micron Technology recently released its earnings results for Q4. The company posted EPS of $0.42, outperforming consensus estimates by $0.69. Despite a negative net margin of -20.57% and negative return on equity of -8.98%, revenue surged 57.7% year-over-year to $5.82 billion.
Dividend News
Micron Technology declared a quarterly dividend of $0.115 per share, paid on April 16th. With a yield of 0.33%, this brings the annualized dividend to $0.46, maintaining a payout ratio of -13.33%.
Company Profile
Micron Technology, Inc. is a leading developer and manufacturer of memory and storage solutions. The company operates through four segments: Compute and Networking Business Unit, Mobile Business Unit, Embedded Business Unit, and Storage Business Unit.
For more details, visit the Micron Technology website.
Market analysts and investors continue to watch Micron Technology closely as it navigates a rapidly evolving semiconductor industry landscape.
Stay updated with the latest in financial news and stock market trends by following our comprehensive coverage.
