Gateway Investment Advisers LLC Has $5.39 Million Stock Position in Micron Technology, Inc. (NASDAQ:MU)

Gateway Investment Advisers LLC raised its position in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 10.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 64,052 shares of the semiconductor manufacturer's stock after purchasing an additional 6,085 shares during the quarter. Gateway Investment Advisers LLC's holdings in Micron Technology were worth $5,391,000 at the end of the most recent quarter.

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

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on MU. Sanford C. Bernstein reduced their price objective on shares of Micron Technology from $140.00 to $120.00 and set an "outperform" rating for the company in a research note on Wednesday, December 18th. TD Cowen decreased their price target on shares of Micron Technology from $135.00 to $125.00 and set a "buy" rating for the company in a report on Thursday, December 19th. Morgan Stanley dropped their price objective on Micron Technology from $114.00 to $98.00 and set an "equal weight" rating on the stock in a research note on Thursday, December 19th. Stifel Nicolaus decreased their target price on Micron Technology from $135.00 to $130.00 and set a "buy" rating for the company in a research note on Thursday, December 19th. Finally, Piper Sandler lowered their target price on Micron Technology from $150.00 to $120.00 and set an "overweight" 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 issued a hold rating and twenty-three have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $135.24.

Insider Activity at Micron Technology

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of Micron Technology stock in a transaction dated Friday, December 20th. The stock was 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 approximately $15,442,011.83. The trade was a 2.63 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.30% of the stock is currently owned by corporate insiders.

Micron Technology Trading Up 3.1 %

MU traded up $3.15 during mid-day trading on Friday, reaching $105.75. The stock had a trading volume of 18,832,956 shares, compared to its average volume of 29,325,942. The firm's fifty day simple moving average is $97.87 and its two-hundred day simple moving average is $102.48. The stock has a market capitalization of $117.82 billion, a P/E ratio of 30.48 and a beta of 1.18. Micron Technology, Inc. has a 52 week low of $79.15 and a 52 week high of $157.54. 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 (NASDAQ:MU - Get Free Report) last issued 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. Micron Technology had a net margin of 13.34% and a return on equity of 8.32%. The company had revenue of $8.71 billion during the quarter, compared to analysts' expectations of $8.71 billion. During the same quarter in the previous year, the company earned ($0.95) EPS. Micron Technology's revenue was up 84.3% on a year-over-year basis. On average, equities analysts predict that Micron Technology, Inc. will post 6.25 EPS for the current 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 $0.115 dividend. The ex-dividend date was Monday, December 30th. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.43%. Micron Technology's dividend payout ratio (DPR) is presently 13.26%.

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.