Caprock Group LLC Increases Position in Micron Technology, Inc. (NASDAQ:MU)

Caprock Group LLC increased its holdings in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 9.6% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 39,075 shares of the semiconductor manufacturer's stock after purchasing an additional 3,422 shares during the quarter. Caprock Group LLC's holdings in Micron Technology were worth $3,293,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. State Street Corp raised 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 worth $5,001,592,000 after purchasing an additional 1,434,568 shares during the last quarter. Primecap Management Co. CA increased its stake in Micron Technology by 0.6% during the 3rd quarter. Primecap Management Co. CA now owns 37,631,860 shares of the semiconductor manufacturer's stock worth $3,902,800,000 after buying an additional 206,499 shares in the last quarter. Geode Capital Management LLC increased its stake in Micron Technology by 3.9% during the 3rd quarter. Geode Capital Management LLC now owns 23,723,545 shares of the semiconductor manufacturer's stock worth $2,451,987,000 after buying an additional 892,607 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Micron Technology by 21.7% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 11,326,224 shares of the semiconductor manufacturer's stock valued at $1,174,643,000 after acquiring an additional 2,022,180 shares during the last quarter. Finally, Van ECK Associates Corp lifted its position in shares of Micron Technology by 30.6% in the third quarter. Van ECK Associates Corp now owns 10,564,198 shares of the semiconductor manufacturer's stock valued at $1,109,769,000 after acquiring an additional 2,477,985 shares in the last quarter. Hedge funds and other institutional investors own 80.84% of the company's stock.

Micron Technology Stock Performance

NASDAQ:MU opened at $91.24 on Friday. The stock has a market capitalization of $101.66 billion, a P/E ratio of 26.29 and a beta of 1.18. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.75 and a current ratio of 2.72. Micron Technology, Inc. has a fifty-two week low of $79.15 and a fifty-two week high of $157.54. The company has a 50 day moving average price of $97.65 and a 200 day moving average price of $100.35.

Micron Technology (NASDAQ:MU - Get Free Report) last released its quarterly earnings results on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 EPS for the quarter, topping the consensus estimate of $1.60 by $0.19. The business had revenue of $8.71 billion during the quarter, compared to analyst estimates of $8.71 billion. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. The company's quarterly revenue was up 84.3% on a year-over-year basis. During the same period last year, the business posted ($0.95) earnings per share. Equities research analysts forecast that Micron Technology, Inc. will post 6.29 EPS for the current year.

Micron Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Monday, December 30th were given a dividend of $0.115 per share. The ex-dividend date was Monday, December 30th. This represents a $0.46 annualized dividend and a dividend yield of 0.50%. Micron Technology's dividend payout ratio is presently 13.26%.

Insider Activity

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

Analyst Ratings Changes

MU has been the subject of several recent research reports. Barclays reduced their price objective on Micron Technology from $145.00 to $110.00 and set an "overweight" rating for the company in a research note on Friday, December 20th. Piper Sandler reduced 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 report on Thursday, December 19th. Mizuho lowered 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. Morgan Stanley dropped their price objective on shares of Micron Technology from $98.00 to $91.00 and set an "equal weight" rating for the company in a research note on Tuesday. Finally, UBS Group lowered their target price on Micron Technology from $135.00 to $125.00 and set a "buy" rating on the stock in a report on Thursday, December 19th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-three have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $134.96.

About Micron Technology

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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