Chevy Chase Trust Holdings LLC Sells 12,453 Shares of Micron Technology, Inc. (NASDAQ:MU)

Chevy Chase Trust Holdings LLC cut its stake in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 2.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 587,466 shares of the semiconductor manufacturer's stock after selling 12,453 shares during the quarter. Chevy Chase Trust Holdings LLC owned 0.05% of Micron Technology worth $49,441,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of the stock. Highline Wealth Partners LLC purchased a new stake in Micron Technology in the 3rd quarter valued at about $26,000. True Wealth Design LLC increased its position in shares of Micron Technology by 1,096.3% during the third quarter. True Wealth Design LLC now owns 323 shares of the semiconductor manufacturer's stock valued at $33,000 after acquiring an additional 296 shares during the last quarter. DT Investment Partners LLC lifted its holdings in Micron Technology by 261.1% during the third quarter. DT Investment Partners LLC now owns 325 shares of the semiconductor manufacturer's stock worth $34,000 after acquiring an additional 235 shares during the period. Stone House Investment Management LLC boosted its position in Micron Technology by 602.2% in the third quarter. Stone House Investment Management LLC now owns 323 shares of the semiconductor manufacturer's stock worth $34,000 after purchasing an additional 277 shares during the last quarter. Finally, Activest Wealth Management boosted its position in Micron Technology by 583.3% in the fourth quarter. Activest Wealth Management now owns 410 shares of the semiconductor manufacturer's stock worth $34,000 after purchasing an additional 350 shares during the last quarter. Institutional investors own 80.84% of the company's stock.

Insider Activity

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of the stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $85.21, for a total transaction of $416,676.90. Following the transaction, the executive vice president now directly 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 legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.30% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on MU shares. 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 research note on Thursday, December 19th. Barclays lowered their price objective on shares of Micron Technology from $145.00 to $110.00 and set an "overweight" rating on the stock in a research report on Friday, December 20th. Morgan Stanley reduced their target price on shares of Micron Technology from $98.00 to $91.00 and set an "equal weight" rating for the company in a research report on Tuesday, January 28th. Bank of America lowered shares of Micron Technology from a "buy" rating to a "neutral" rating and decreased their price target for the stock from $125.00 to $110.00 in a research note on Thursday, December 19th. Finally, Piper Sandler dropped their price objective on Micron Technology from $150.00 to $120.00 and set an "overweight" rating on the stock in a research note on Thursday, December 19th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-three have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $134.96.

Micron Technology Price Performance

NASDAQ:MU traded up $3.86 during trading hours on Monday, hitting $99.52. 21,261,888 shares of the company's stock traded hands, compared to its average volume of 21,381,818. Micron Technology, Inc. has a 52 week low of $79.15 and a 52 week high of $157.54. The business's fifty day simple moving average is $96.10 and its two-hundred day simple moving average is $98.54. The company has a quick ratio of 1.75, a current ratio of 2.72 and a debt-to-equity ratio of 0.28. The firm has a market cap of $110.88 billion, a P/E ratio of 28.68 and a beta of 1.18.

Micron Technology (NASDAQ:MU - Get Free Report) last issued its quarterly earnings results on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.60 by $0.19. The firm had revenue of $8.71 billion during the quarter, compared to the consensus estimate of $8.71 billion. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. The company's revenue for the quarter was up 84.3% on a year-over-year basis. During the same quarter last year, the company posted ($0.95) EPS. On average, research analysts anticipate that Micron Technology, Inc. will post 6.29 earnings per share 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 issued a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.46%. The ex-dividend date of this dividend was Monday, December 30th. Micron Technology's payout ratio is 13.26%.

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.