Generali Powszechne Towarzystwo Emerytalne Invests $7.57 Million in Micron Technology, Inc. (NASDAQ:MU)

Generali Powszechne Towarzystwo Emerytalne purchased a new stake in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 90,000 shares of the semiconductor manufacturer's stock, valued at approximately $7,574,000. Micron Technology accounts for about 2.5% of Generali Powszechne Towarzystwo Emerytalne's investment portfolio, making the stock its 14th biggest position.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Trivant Custom Portfolio Group LLC increased its stake in Micron Technology by 20.0% in the fourth quarter. Trivant Custom Portfolio Group LLC now owns 600 shares of the semiconductor manufacturer's stock valued at $50,000 after acquiring an additional 100 shares during the period. Xcel Wealth Management LLC boosted its stake in Micron Technology by 1.8% in the 4th quarter. Xcel Wealth Management LLC now owns 6,157 shares of the semiconductor manufacturer's stock valued at $518,000 after buying an additional 108 shares in the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors grew its position in Micron Technology by 3.8% in the fourth quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 2,973 shares of the semiconductor manufacturer's stock valued at $250,000 after acquiring an additional 108 shares during the period. Lebenthal Global Advisors LLC lifted its holdings in shares of Micron Technology by 1.5% during the fourth quarter. Lebenthal Global Advisors LLC now owns 7,474 shares of the semiconductor manufacturer's stock valued at $629,000 after acquiring an additional 114 shares during the period. Finally, Hazlett Burt & Watson Inc. boosted its stake in shares of Micron Technology by 1.1% in the 4th quarter. Hazlett Burt & Watson Inc. now owns 10,481 shares of the semiconductor manufacturer's stock valued at $883,000 after purchasing an additional 119 shares in the last quarter. Institutional investors own 80.84% of the company's stock.

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Insider Buying and Selling

In related news, 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 transaction of $1,442,700.00. Following the completion of the transaction, the executive vice president now owns 164,769 shares in the company, valued at approximately $15,847,482.42. This trade represents a 8.34 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Mary Pat Mccarthy sold 2,404 shares of Micron Technology stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $92.93, for a total value of $223,403.72. Following the transaction, the director now owns 27,358 shares of the company's stock, valued at $2,542,378.94. This represents a 8.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.30% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on MU shares. KGI Securities upgraded shares of Micron Technology to a "strong-buy" rating in a research report on Friday, February 21st. Cantor Fitzgerald reiterated an "overweight" rating and issued a $130.00 target price on shares of Micron Technology in a research note on Friday, March 21st. Wells Fargo & Company dropped their price target on Micron Technology from $140.00 to $130.00 and set an "overweight" rating for the company in a report on Thursday, March 13th. Sanford C. Bernstein reduced their price objective on Micron Technology from $140.00 to $120.00 and set an "outperform" rating on the stock in a research note on Wednesday, December 18th. Finally, China Renaissance lowered Micron Technology from a "buy" rating to a "hold" rating and set a $84.00 target price for the company. in a research note on Wednesday, March 26th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Micron Technology presently has a consensus rating of "Moderate Buy" and an average price target of $129.76.

Micron Technology Stock Down 4.8 %

Shares of NASDAQ MU traded down $3.25 during mid-day trading on Tuesday, reaching $65.12. 27,583,352 shares of the company's stock were exchanged, compared to its average volume of 22,920,233. Micron Technology, Inc. has a twelve month low of $61.54 and a twelve month high of $157.54. The company has a current ratio of 2.72, a quick ratio of 1.75 and a debt-to-equity ratio of 0.28. The firm has a market capitalization of $72.78 billion, a price-to-earnings ratio of 18.58 and a beta of 1.18. The business has a fifty day simple moving average of $92.96 and a 200 day simple moving average of $98.09.

Micron Technology (NASDAQ:MU - Get Free Report) last posted its quarterly earnings data on Thursday, March 20th. The semiconductor manufacturer reported $1.56 EPS for the quarter, beating the consensus estimate of $1.43 by $0.13. The business had revenue of $8.05 billion for the quarter, compared to analysts' expectations of $7.93 billion. Micron Technology had a net margin of 13.34% and a return on equity of 8.32%. The firm's revenue was up 38.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.42 EPS. As a group, equities analysts expect that Micron Technology, Inc. will post 6.08 EPS for the current fiscal year.

Micron Technology Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be given a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a yield of 0.71%. The ex-dividend date is Monday, March 31st. Micron Technology's dividend payout ratio (DPR) 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.