Micron Technology, Inc. (NASDAQ:MU) Shares Acquired by Artemis Investment Management LLP

Artemis Investment Management LLP raised its holdings in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) by 15.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 269,891 shares of the semiconductor manufacturer's stock after buying an additional 36,914 shares during the quarter. Artemis Investment Management LLP's holdings in Micron Technology were worth $22,714,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of MU. Harmony Asset Management LLC lifted its position in Micron Technology by 75.6% during the third quarter. Harmony Asset Management LLC now owns 11,889 shares of the semiconductor manufacturer's stock worth $1,233,000 after buying an additional 5,120 shares in the last quarter. Lazard Freres Gestion S.A.S. increased its stake in shares of Micron Technology by 241.7% in the 3rd quarter. Lazard Freres Gestion S.A.S. now owns 41,000 shares of the semiconductor manufacturer's stock worth $4,252,000 after acquiring an additional 29,000 shares during the last quarter. Chartwell Investment Partners LLC raised its holdings in shares of Micron Technology by 26.4% during the 3rd quarter. Chartwell Investment Partners LLC now owns 195,115 shares of the semiconductor manufacturer's stock worth $20,236,000 after acquiring an additional 40,802 shares during the period. State Street Corp boosted its position in shares of Micron Technology by 3.1% during the 3rd quarter. State Street Corp now owns 48,226,710 shares of the semiconductor manufacturer's stock valued at $5,001,592,000 after acquiring an additional 1,434,568 shares during the last quarter. Finally, Global X Japan Co. Ltd. boosted its position in shares of Micron Technology by 23.1% during the 3rd quarter. Global X Japan Co. Ltd. now owns 51,832 shares of the semiconductor manufacturer's stock valued at $5,375,000 after acquiring an additional 9,735 shares during the last quarter. 80.84% of the stock is currently owned by institutional investors and hedge funds.

Micron Technology Stock Performance

Shares of MU traded up $3.15 during midday trading on Friday, reaching $105.75. 18,832,956 shares of the stock were exchanged, compared to its average volume of 29,325,942. The company has a market capitalization of $117.82 billion, a price-to-earnings ratio of 30.48 and a beta of 1.18. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.72 and a quick ratio of 1.75. Micron Technology, Inc. has a twelve month low of $79.15 and a twelve month high of $157.54. The business's 50-day moving average price is $97.87 and its 200 day moving average price is $102.27.

Micron Technology (NASDAQ:MU - Get Free Report) last announced its earnings results on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 EPS for the quarter, beating analysts' consensus estimates of $1.60 by $0.19. The business had revenue of $8.71 billion for the quarter, compared to analysts' expectations of $8.71 billion. Micron Technology had a net margin of 13.34% and a return on equity of 8.32%. The company's quarterly revenue was up 84.3% on a year-over-year basis. During the same period in the previous year, the company posted ($0.95) EPS. On average, sell-side analysts expect that Micron Technology, Inc. will post 6.25 EPS for the current fiscal year.

Micron Technology Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Monday, December 30th were paid a dividend of $0.115 per share. This represents a $0.46 annualized dividend and a dividend yield of 0.43%. The ex-dividend date of this dividend was Monday, December 30th. Micron Technology's dividend payout ratio (DPR) is presently 13.26%.

Wall Street Analyst Weigh In

Several research firms have recently commented on MU. Mizuho reduced their price target on shares of Micron Technology from $135.00 to $115.00 and set an "outperform" rating on the stock in a research report on Thursday, December 19th. Rosenblatt Securities restated a "buy" rating and issued a $250.00 target price on shares of Micron Technology in a research report on Wednesday, December 18th. Wedbush reiterated an "outperform" rating and set a $140.00 price target on shares of Micron Technology in a report on Tuesday, December 17th. The Goldman Sachs Group reduced their price objective on shares of Micron Technology from $145.00 to $128.00 and set a "buy" rating on the stock in a report on Thursday, December 19th. Finally, Piper Sandler lowered their target price on shares of Micron Technology from $150.00 to $120.00 and set an "overweight" rating for the company in a research note on Thursday, December 19th. One analyst has rated the stock with a sell rating, three have given a hold rating and twenty-three have given a buy rating to the stock. According to MarketBeat, Micron Technology has an average rating of "Moderate Buy" and a consensus price target of $135.24.

Insider Buying and Selling

In related news, EVP April S. Arnzen sold 4,890 shares of the firm's stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $85.21, for a total value of $416,676.90. Following the completion of the sale, the executive vice president now owns 181,223 shares in the company, valued at $15,442,011.83. This trade represents a 2.63 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.30% of the company's stock.

Micron Technology 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.