Russell Investments Group Ltd. Grows Stock Position in Micron Technology, Inc. (NASDAQ:MU)

Russell Investments Group Ltd. increased its holdings in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 2.4% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 922,777 shares of the semiconductor manufacturer's stock after buying an additional 21,327 shares during the period. Russell Investments Group Ltd. owned 0.08% of Micron Technology worth $77,699,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. E Fund Management Co. Ltd. grew its holdings in Micron Technology by 31.8% in the 4th quarter. E Fund Management Co. Ltd. now owns 36,378 shares of the semiconductor manufacturer's stock worth $3,062,000 after acquiring an additional 8,780 shares during the last quarter. CIBC Private Wealth Group LLC increased its stake in shares of Micron Technology by 43.0% during the fourth quarter. CIBC Private Wealth Group LLC now owns 14,178 shares of the semiconductor manufacturer's stock valued at $1,193,000 after buying an additional 4,264 shares during the period. Stablepoint Partners LLC purchased a new stake in Micron Technology in the fourth quarter worth $569,000. Landscape Capital Management L.L.C. increased its position in Micron Technology by 167.0% during the 4th quarter. Landscape Capital Management L.L.C. now owns 45,758 shares of the semiconductor manufacturer's stock valued at $3,851,000 after purchasing an additional 28,621 shares during the period. Finally, Main Management ETF Advisors LLC bought a new position in Micron Technology in the 3rd quarter worth $2,414,000. Institutional investors own 80.84% of the company's stock.

Micron Technology Stock Performance

Shares of Micron Technology stock traded down $3.31 on Tuesday, hitting $65.06. 27,583,352 shares of the company's stock were exchanged, compared to its average volume of 22,919,210. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.75 and a current ratio of 2.72. The stock has a market capitalization of $72.71 billion, a PE ratio of 18.58 and a beta of 1.18. Micron Technology, Inc. has a 1 year low of $61.54 and a 1 year high of $157.54. The company has a 50-day simple moving average of $92.96 and a 200-day simple moving average of $98.09.

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

Micron Technology Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be issued a $0.115 dividend. The ex-dividend date is Monday, March 31st. This represents a $0.46 dividend on an annualized basis and a yield of 0.71%. Micron Technology's dividend payout ratio is presently 11.03%.

Insider Buying and Selling at Micron Technology

In other Micron Technology news, Director Mary Pat Mccarthy sold 2,404 shares of the firm's stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $92.93, for a total transaction of $223,403.72. Following the completion of the transaction, the director now owns 27,358 shares in the company, valued at $2,542,378.94. This trade represents a 8.08 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP April S. Arnzen sold 15,000 shares of the company's stock in a transaction that occurred on 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 sale, the executive vice president now directly owns 164,769 shares in the company, valued at $15,847,482.42. This trade represents a 8.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.30% of the company's stock.

Wall Street Analyst Weigh In

MU has been the subject of several research reports. JPMorgan Chase & Co. decreased their target price on Micron Technology from $145.00 to $135.00 and set an "overweight" rating for the company in a research report on Friday, March 21st. Wedbush reissued an "outperform" rating and set a $125.00 price objective on shares of Micron Technology in a research report on Monday, March 17th. TD Cowen dropped their price target on Micron Technology from $135.00 to $125.00 and set a "buy" rating on the stock in a research report on Thursday, December 19th. Needham & Company LLC cut their price objective on shares of Micron Technology from $140.00 to $120.00 and set a "buy" rating on the stock in a research report on Thursday, December 19th. Finally, Piper Sandler decreased their target price on shares of Micron Technology from $150.00 to $120.00 and set an "overweight" rating for the company in a report on Thursday, December 19th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, twenty have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $129.76.

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.