Parametrica Management Ltd Reduces Holdings in Micron Technology, Inc. (NASDAQ:MU)

Parametrica Management Ltd lessened its stake in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) by 72.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 7,400 shares of the semiconductor manufacturer's stock after selling 19,054 shares during the quarter. Micron Technology makes up approximately 0.8% of Parametrica Management Ltd's portfolio, making the stock its 21st biggest position. Parametrica Management Ltd's holdings in Micron Technology were worth $623,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of MU. Stone House Investment Management LLC increased its position in Micron Technology by 602.2% during the 3rd quarter. Stone House Investment Management LLC now owns 323 shares of the semiconductor manufacturer's stock valued at $34,000 after buying an additional 277 shares in the last quarter. True Wealth Design LLC increased its holdings 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 in the last quarter. Beacon Capital Management LLC raised its position in shares of Micron Technology by 114.9% in the 4th quarter. Beacon Capital Management LLC now owns 374 shares of the semiconductor manufacturer's stock worth $31,000 after purchasing an additional 200 shares during the last quarter. Midwest Capital Advisors LLC bought a new position in Micron Technology in the 4th quarter worth about $33,000. Finally, Comprehensive Financial Planning Inc. PA purchased a new stake in Micron Technology during the 4th quarter valued at about $34,000. Hedge funds and other institutional investors own 80.84% of the company's stock.

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Insider Activity at Micron Technology

In other news, Director Mary Pat Mccarthy sold 2,404 shares of Micron Technology stock in a transaction 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 directly owns 27,358 shares in the company, valued at approximately $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 can be accessed through this hyperlink. Also, EVP April S. Arnzen sold 15,000 shares of Micron Technology stock in a transaction dated Tuesday, March 25th. The shares were sold at an average price of $96.18, for a total value 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 $15,847,482.42. This trade represents a 8.34 % decrease in their position. The disclosure for this sale can be found here. 0.30% of the stock is owned by company insiders.

Micron Technology Price Performance

Shares of MU stock traded down $3.03 during trading hours on Friday, hitting $88.13. The stock had a trading volume of 10,512,471 shares, compared to its average volume of 22,840,816. The stock has a market capitalization of $98.49 billion, a price-to-earnings ratio of 25.40 and a beta of 1.23. Micron Technology, Inc. has a one year low of $83.54 and a one year high of $157.54. The stock's 50-day moving average price is $96.35 and its two-hundred day moving average price is $98.36. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.72 and a quick ratio of 1.75.

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

Micron Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be paid a $0.115 dividend. This represents a $0.46 annualized dividend and a yield of 0.52%. The ex-dividend date of this dividend is Monday, March 31st. Micron Technology's payout ratio is currently 11.03%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on MU. Wells Fargo & Company lowered their price objective on Micron Technology from $140.00 to $130.00 and set an "overweight" rating on the stock in a research report on Thursday, March 13th. JPMorgan Chase & Co. dropped their price objective on Micron Technology from $145.00 to $135.00 and set an "overweight" rating on the stock in a research report on Friday, March 21st. Sanford C. Bernstein reduced their price objective on Micron Technology from $140.00 to $120.00 and set an "outperform" rating for the company in a report on Wednesday, December 18th. TD Cowen lowered their target price on shares of Micron Technology from $135.00 to $125.00 and set a "buy" rating on the stock in a research note on Thursday, December 19th. Finally, Piper Sandler reduced their price target on shares of Micron Technology from $150.00 to $120.00 and set an "overweight" rating for the company in a research note on Thursday, December 19th. One research analyst has rated the stock with a sell rating, three have assigned 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, Micron Technology presently has a consensus rating of "Moderate Buy" and a consensus price target of $129.76.

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.