Amundi Dims View on Micron Technology, Trimming Stock Position
Investment management company Amundi significantly lowered its position in shares of Micron Technology, Inc. (NASDAQ:MU) during the fourth quarter of a recent financial year, according to a filing with the Securities and Exchange Commission (SEC). The firm’s holdings decreased by 54.3%, reflecting a strategic shift in its investment portfolio.
Following the reduction, Amundi held 2,804,452 shares of the semiconductor manufacturer, after selling off 3,332,468 shares. At the close of the quarter, the value of Amundi’s remaining stake in Micron Technology totaled approximately $236,023,000 representing about 0.25% of the company.
Institutional Investors Adjust Their Positions
Alongside Amundi’s move, several other institutional investors have recently adjusted their holdings in Micron Technology, indicating ongoing shifts among major market players. Notable changes include:
- Beacon Capital Management LLC: Increased its stake by a substantial 114.9%, now owning 374 shares worth approximately $31,000.
- True Wealth Design LLC: Boosted its holdings significantly, increasing its stake by 1,096.3% to 323 shares valued at $33,000.
- Midwest Capital Advisors LLC: Acquired a new stake in Micron Technology during the quarter, worth approximately $33,000.
- Stone House Investment Management LLC: Increased its holdings by 602.2%, owning 323 shares with a value of $34,000.
- Activest Wealth Management: Increased its holdings substantially, by 583.3%, now holding 410 shares valued at $34,000.
These adjustments highlight a dynamic investment landscape for Micron Technology, with differing views and strategies among institutional investors.
Insider Transactions and Stock Performance
In related news, there have been recent insider transactions involving the sale of company stock.
- EVP April S. Arnzen sold 4,890 shares at an average price of $85.21 in December, for a total value of $416,676.90. Arnzen’s remaining direct ownership is 181,223 shares, representing a 2.63% decrease.
- Director Mary Pat McCarthy sold 2,404 shares at an average price of $92.93 in March, totaling $223,403.72. McCarthy now owns 27,358 shares, an 8.08% decrease in her ownership.
Micron Technology’s stock performance presents a somewhat positive outlook. During mid-day trading on Wednesday, shares traded up $6.59 to reach $95.64. Trading volume was high, with 23,554,716 shares changing hands, surpassing the average volume of 22,192,342. The company’s market capitalization is $106.56 billion. Micron’s price-to-earnings ratio is 27.56, and its beta is 1.23.
Micron’s 52-week performance shows a low of $83.54 and a high of $157.54. The company’s financial health is reflected in its current ratio of 2.72, a quick ratio of 1.75, and a debt-to-equity ratio of 0.28. The stock’s 50-day moving average is $96.35, and its 200-day moving average is $98.06.
Analyst Ratings and Outlook
Analysts have recently adjusted their price targets for Micron Technology. Several firms lowered their target prices, reflecting potentially cautious outlooks.
- Bank of America downgraded Micron Technology from “buy” to “neutral,” reducing the price target from $125.00 to $110.00.
- Stifel Nicolaus reduced its target price from $135.00 to $130.00, maintaining a “buy” rating.
- UBS Group reduced its target from $135.00 to $125.00, also maintaining a “buy” rating.
- Piper Sandler reduced its target from $150.00 to $120.00, giving an “overweight” rating.
- The Goldman Sachs Group lowered its target from $145.00 to $128.00, maintaining a “buy” rating.
The consensus rating on Micron Technology is currently a “Moderate Buy,” with a consensus target price of $134.96, according to MarketBeat.com.
Dividend Information
The company recently declared a quarterly dividend, paid on January 15th, to investors of record on December 30th at a rate of $0.115 per share, totaling $0.46 annually. This yields a 0.48% return. Micron Technology’s payout ratio is 13.26%. “, “image_handling_notes”: “Removed all irrelevant images, promotional images, and images at the end of the article that did not show the main subject. All remaining image descriptions translated to ENGLISH. All image descriptions and captions are in Markdown format.
