Several investment firms have recently adjusted their holdings in Micron Technology, Inc. (NASDAQ:MU), according to recent filings with the Securities and Exchange Commission. Korea Investment CORP reduced its stake in MU by 8.8% in the fourth quarter. The fund, as of its most recent filing, owns approximately 1,025,666 shares of the semiconductor manufacturer’s stock. This holding is valued at approximately $86.32 million.
Other institutional investors have also been active with shares of Micron. Beacon Capital Management LLC increased its holdings by 114.9% in the fourth quarter, now holding 374 shares worth around $31,000. True Wealth Design LLC lifted its holdings by 1,096.3% during the third quarter, owning 323 shares now with a total value of $33,000. Midwest Capital Advisors LLC initiated a new position in the fourth quarter. Stone House Investment Management LLC’s stake grew by 602.2% in the third quarter, and the firm now owns 323 shares valued at $34,000. Finally, Activest Wealth Management increased its holdings by 583.3% in the fourth quarter, and now owns 410 shares worth $34,000.
Insiders within Micron have also made moves. Director Mary Pat McCarthy sold 2,404 shares of Micron Technology stock on March 3rd at an average price of $92.93 per share, totaling approximately $223,403.72. Following this transaction, Mccarthy now holds 27,358 shares valued at approximately $2,542,378.94.
As of the most recent data, institutional investors and hedge funds hold 80.84% of the company’s stock, while company insiders own 0.30% of the stock.
Micron Technology opened at $92.13 on Thursday, currently boasting a market capitalization of $102.65 billion. The company’s price-to-earnings ratio stands at 26.55, with a beta of 1.23. Micron’s 12-month low is $83.54 and its 12-month high is $157.54. The firm has a current ratio of 2.72, a quick ratio of 1.75, and a debt-to-equity ratio of 0.28.
In its latest earnings report released on March 20th, Micron Technology posted an EPS of $1.56, surpassing analysts’ estimates of $1.43. The company’s revenue reached $8.05 billion, exceeding the consensus estimate of $7.93 billion. Micron Technology reported a net margin of 13.34% and a return on equity of 8.32%. Impressively, quarterly revenue increased by 38.2% year-over-year, compared to the $0.42 EPS reported in the same period last year. Currently, analysts anticipate that Micron Technology, Inc. will achieve earnings per share of $6.08 for the current year.
The company has also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th, to shareholders of record on Monday, March 31st. The dividend will be $0.115 per share, translating to an annualized dividend of $0.46 and a yield of 0.50%. The ex-dividend date is Monday, March 31st. Micron Technology’s dividend payout ratio (DPR) is currently 11.03%.
Several analysts have also weighed in on the stock. Wedbush maintained an “outperform” rating with a price target of $125.00. Morgan Stanley increased its price target from $91.00 to $112.00 with an “equal weight” rating. Citigroup dropped its price target from $150.00 to $120.00 with a “buy” rating. KGI Securities upgraded shares to a “strong-buy” rating, and TD Cowen lowered its price target from $135.00 to $125.00, while still maintaining a “buy” rating.
Based on current data, the consensus rating for Micron Technology is “Moderate Buy,” with an average price target of $129.96, according to MarketBeat.com.
Micron Technology, Inc. designs, develops, manufactures, and sells memory and storage products worldwide. The company operates through the Compute and Networking Business Unit, Mobile Business Unit, Embedded Business Unit, and Storage Business Unit. It provides memory and storage technologies including dynamic random access memory semiconductor devices, non-volatile and re-writeable semiconductor storage devices, and non-volatile re-writable semiconductor memory devices.
