Corebridge Financial Inc. Has $29.27 Million Stake in Micron Technology, Inc. (NASDAQ:MU)

Corebridge Financial Inc. trimmed its holdings in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) by 3.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 347,806 shares of the semiconductor manufacturer's stock after selling 12,287 shares during the period. Corebridge Financial Inc.'s holdings in Micron Technology were worth $29,271,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of MU. Vanguard Group Inc. boosted its stake in shares of Micron Technology by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 99,857,205 shares of the semiconductor manufacturer's stock valued at $8,403,982,000 after buying an additional 888,087 shares during the period. LPL Financial LLC boosted its position in Micron Technology by 5.0% during the fourth quarter. LPL Financial LLC now owns 734,517 shares of the semiconductor manufacturer's stock valued at $61,817,000 after purchasing an additional 35,163 shares during the last quarter. KLP Kapitalforvaltning AS purchased a new position in Micron Technology in the fourth quarter valued at about $31,656,000. Runnymede Capital Advisors Inc. acquired a new position in Micron Technology in the 4th quarter worth about $1,887,000. Finally, Mizuho Securities USA LLC raised its stake in shares of Micron Technology by 46.1% during the 4th quarter. Mizuho Securities USA LLC now owns 105,084 shares of the semiconductor manufacturer's stock worth $8,844,000 after purchasing an additional 33,182 shares in the last quarter. 80.84% of the stock is owned by institutional investors and hedge funds.

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Wall Street Analyst Weigh In

A number of research firms have issued reports on MU. The Goldman Sachs Group reduced their target price on shares of Micron Technology from $145.00 to $128.00 and set a "buy" rating for the company in a research note on Thursday, December 19th. Morgan Stanley upped their price objective on shares of Micron Technology from $91.00 to $112.00 and gave the stock an "equal weight" rating in a report on Friday, March 21st. UBS Group raised their target price on Micron Technology from $125.00 to $130.00 and gave the company a "buy" rating in a report on Monday, March 17th. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $130.00 price target on shares of Micron Technology in a research report on Friday, March 21st. Finally, Bank of America lowered Micron Technology from a "buy" rating to a "neutral" rating and lowered their price objective for the company from $125.00 to $110.00 in a report on Thursday, December 19th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $129.96.

Insider Activity at Micron Technology

In other news, Director Mary Pat Mccarthy sold 2,404 shares of Micron Technology stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $92.93, for a total value of $223,403.72. Following the completion of the transaction, the director now owns 27,358 shares of the company's stock, valued at $2,542,378.94. This trade represents a 8.08 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP April S. Arnzen sold 15,000 shares of Micron Technology stock in a transaction dated Tuesday, March 25th. The stock was sold at an average price of $96.18, for a total value of $1,442,700.00. Following the transaction, the executive vice president now owns 164,769 shares of the company's stock, valued at $15,847,482.42. The trade was a 8.34 % decrease in their position. The disclosure for this sale can be found here. 0.30% of the stock is owned by insiders.

Micron Technology Trading Down 1.1 %

Shares of Micron Technology stock traded down $0.97 during trading hours on Thursday, hitting $91.16. The company's stock had a trading volume of 15,634,046 shares, compared to its average volume of 22,262,514. The company has a market capitalization of $101.88 billion, a PE ratio of 26.27 and a beta of 1.23. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.72 and a quick ratio of 1.75. The stock has a 50 day moving average of $96.35 and a 200 day moving average of $98.36. Micron Technology, Inc. has a 12 month low of $83.54 and a 12 month high of $157.54.

Micron Technology (NASDAQ:MU - Get Free Report) last posted its earnings results on Thursday, March 20th. The semiconductor manufacturer reported $1.56 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.43 by $0.13. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. The business had revenue of $8.05 billion during the quarter, compared to analysts' expectations of $7.93 billion. During the same period in the prior year, the business earned $0.42 EPS. Micron Technology's revenue for the quarter was up 38.2% compared to the same quarter last year. Analysts predict that Micron Technology, Inc. will post 6.08 earnings per share for the current year.

Micron Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be given a dividend of $0.115 per share. The ex-dividend date is Monday, March 31st. This represents a $0.46 annualized dividend and a dividend yield of 0.50%. Micron Technology's dividend payout ratio is currently 11.03%.

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.