Trust Point Inc. acquired a new position in Micron Technology, Inc. (NASDAQ:MU – Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 3,877 shares of the semiconductor manufacturer’s stock, valued at approximately $331,000.
Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Northern Trust Corp raised its stake in Micron Technology by 0.7% in the 3rd quarter. Northern Trust Corp now owns 10,833,670 shares of the semiconductor manufacturer’s stock worth $737,015,000 after acquiring an additional 80,345 shares during the last quarter. L2 Asset Management LLC raised its stake in Micron Technology by 492.3% in the 3rd quarter. L2 Asset Management LLC now owns 26,444 shares of the semiconductor manufacturer’s stock worth $1,799,000 after acquiring an additional 21,979 shares during the last quarter. Invesco Ltd. raised its stake in Micron Technology by 11.8% in the 3rd quarter. Invesco Ltd. now owns 8,807,926 shares of the semiconductor manufacturer’s stock worth $599,203,000 after acquiring an additional 927,302 shares during the last quarter. Merlin Capital Inc purchased a new position in Micron Technology in the 3rd quarter worth $407,000. Finally, Amitell Capital Pte Ltd raised its stake in Micron Technology by 97.9% in the 3rd quarter. Amitell Capital Pte Ltd now owns 95,210 shares of the semiconductor manufacturer’s stock worth $6,477,000 after acquiring an additional 47,105 shares during the last quarter. Institutional investors own 80.84% of the company’s stock.
Insider Activity at Micron Technology
In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of the business’s stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $119.30, for a total value of $583,377.00. Following the sale, the executive vice president now owns 148,817 shares of the company’s stock, valued at $17,753,868.10. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of the business’s stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $119.30, for a total value of $583,377.00. Following the sale, the executive vice president now owns 148,817 shares of the company’s stock, valued at $17,753,868.10. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Sanjay Mehrotra sold 45,000 shares of the business’s stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of $130.00, for a total value of $5,850,000.00. Following the completion of the sale, the chief executive officer now directly owns 728,557 shares in the company, valued at approximately $94,712,410. The disclosure for this sale can be found here. Over the last three months, insiders have sold 313,890 shares of company stock worth $33,081,737. Insiders own 0.32% of the company’s stock.
Micron Technology Trading Down 0.4 %
MU opened at $123.58 on Friday. Micron Technology, Inc. has a one year low of $56.80 and a one year high of $130.54. The stock has a market capitalization of $136.85 billion, a PE ratio of -35.82 and a beta of 1.27. The business’s 50 day moving average price is $96.24 and its 200 day moving average price is $83.20. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.40 and a current ratio of 3.74.
Micron Technology (NASDAQ:MU – Get Free Report) last released its quarterly earnings data on Wednesday, March 20th. The semiconductor manufacturer reported $0.42 EPS for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.69. Micron Technology had a negative return on equity of 8.98% and a negative net margin of 20.57%. The firm had revenue of $5.82 billion for the quarter, compared to analysts’ expectations of $5.35 billion. During the same period in the prior year, the firm posted ($2.03) earnings per share. The firm’s quarterly revenue was up 57.7% on a year-over-year basis. As a group, equities research analysts expect that Micron Technology, Inc. will post 0.24 EPS for the current year.
Micron Technology Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 16th. Investors of record on Monday, April 1st will be issued a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a yield of 0.37%. The ex-dividend date of this dividend is Thursday, March 28th. Micron Technology’s dividend payout ratio is presently -13.33%.
Analyst Upgrades and Downgrades
A number of equities analysts recently issued reports on the company. JPMorgan Chase & Co. raised their target price on Micron Technology from $105.00 to $130.00 and gave the stock an “overweight” rating in a research note on Thursday, March 21st. Wedbush increased their price target on Micron Technology from $103.00 to $130.00 and gave the stock an “outperform” rating in a research report on Thursday, March 21st. Rosenblatt Securities reaffirmed a “buy” rating and set a $140.00 price target on shares of Micron Technology in a research report on Monday, March 18th. Needham & Company LLC increased their price target on Micron Technology from $100.00 to $120.00 and gave the stock a “buy” rating in a research report on Thursday, March 21st. Finally, Fox Advisors raised Micron Technology from an “equal weight” rating to an “overweight” rating in a research report on Thursday, March 21st. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-five have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $119.62.
Get Our Latest Analysis on Micron Technology
Micron Technology Company Profile
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.
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