Banco Santander S.A. boosted its investment in Micron Technology, Inc. (NASDAQ:MU) during the fourth quarter, according to recent filings with the Securities & Exchange Commission. The firm increased its holdings by 37.3%, adding 61,293 shares for a total of 225,671 shares of the semiconductor manufacturer’s stock. The value of Banco Santander S.A.’s Micron Technology holdings was approximately $18,992,000 as of the latest SEC filing.
Several other institutional investors have also adjusted their positions in Micron Technology stock recently. Beacon Capital Management LLC raised its holdings significantly, by 114.9%, owning 374 shares valued at $31,000 after purchasing an additional 200 shares. True Wealth Design LLC increased its position by 1,096.3% in the third quarter, now owning 323 shares valued at $33,000. Midwest Capital Advisors LLC acquired a new position in the fourth quarter, valued at $33,000. Stone House Investment Management LLC increased its holdings by 602.2% during the third quarter, owning 323 shares worth $34,000. Additionally, Activest Wealth Management increased its stake by 583.3% in the 4th quarter, owning 410 shares valued at $34,000. Institutional investors collectively own 80.84% of Micron Technology’s stock.
Analyst ratings on Micron Technology have varied recently. Cantor Fitzgerald lowered its price objective from $150.00 to $130.00 but maintained an “overweight” rating on December 19th. Similarly, UBS Group reduced its price target from $135.00 to $125.00 while maintaining a “buy” rating on the same date. Piper Sandler decreased its price target from $150.00 to $120.00 and kept an “overweight” rating, also on December 19th. TD Cowen lowered its price objective to $125.00 from $135.00, maintaining a “buy” rating on December 19th. Wedbush reaffirmed an “outperform” rating and issued a $140.00 target price on December 17th. The consensus rating for the stock is currently a “Moderate Buy,” with a consensus price target of $134.96, according to MarketBeat.com.
In other company news, there have been insider transactions. Director Mary Pat Mccarthy sold 2,404 shares on March 3rd at an average price of $92.93, totaling $223,403.72. Following this sale, Mccarthy owns 27,358 shares, approximately $2,542,378.94 worth of stock, representing an 8.08% decrease in ownership. Executive Vice President April S. Arnzen sold 4,890 shares on December 20th at an average price of $85.21, for a total transaction of $416,676.90. After the sale, Arnzen owns 181,223 shares, with a value of approximately $15,442,011.83, a 2.63% decrease. Corporate insiders hold 0.30% of the company’s stock.
On Tuesday, Micron Technology (MU) traded at $89.05, up $1.97. The trading volume for the day was over 21.5 million shares.
Micron Technology 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.
