Ieq Capital LLC Increases Holdings in Micron Technology, Inc. (NASDAQ:MU)

Ieq Capital LLC lifted its position in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) by 5.2% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 64,569 shares of the semiconductor manufacturer's stock after purchasing an additional 3,179 shares during the quarter. Ieq Capital LLC's holdings in Micron Technology were worth $5,434,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Swedbank AB raised its position in Micron Technology by 30.4% in the 3rd quarter. Swedbank AB now owns 3,455,819 shares of the semiconductor manufacturer's stock valued at $358,403,000 after buying an additional 806,639 shares during the last quarter. Whittier Trust Co. raised its position in Micron Technology by 22.4% in the 3rd quarter. Whittier Trust Co. now owns 1,481 shares of the semiconductor manufacturer's stock valued at $154,000 after buying an additional 271 shares during the last quarter. Eastern Bank purchased a new stake in Micron Technology in the 3rd quarter valued at $147,000. Private Advisor Group LLC raised its position in Micron Technology by 13.4% in the 3rd quarter. Private Advisor Group LLC now owns 85,125 shares of the semiconductor manufacturer's stock valued at $8,828,000 after buying an additional 10,028 shares during the last quarter. Finally, International Assets Investment Management LLC raised its position in Micron Technology by 1,233.7% in the 3rd quarter. International Assets Investment Management LLC now owns 1,430,619 shares of the semiconductor manufacturer's stock valued at $145,470,000 after buying an additional 1,323,352 shares during the last quarter. 80.84% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on MU shares. Piper Sandler decreased their target price on Micron Technology from $150.00 to $120.00 and set an "overweight" rating for the company in a research report on Thursday, December 19th. Wells Fargo & Company decreased their target price on Micron Technology from $175.00 to $140.00 and set an "overweight" rating for the company in a research report on Thursday, December 19th. JPMorgan Chase & Co. decreased their target price on Micron Technology from $180.00 to $145.00 and set an "overweight" rating for the company in a research report on Thursday, December 19th. Barclays decreased their target price on Micron Technology from $145.00 to $110.00 and set an "overweight" rating for the company in a research report on Friday, December 20th. Finally, The Goldman Sachs Group decreased their target price on Micron Technology from $145.00 to $128.00 and set a "buy" rating for the company in a research report on Thursday, December 19th. One 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 company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $134.96.

Micron Technology Price Performance

NASDAQ MU traded down $4.40 during trading hours on Friday, hitting $98.78. The company had a trading volume of 18,633,227 shares, compared to its average volume of 20,178,224. Micron Technology, Inc. has a 52 week low of $83.54 and a 52 week high of $157.54. The firm has a 50 day simple moving average of $96.28 and a 200 day simple moving average of $98.82. 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 firm has a market capitalization of $110.06 billion, a price-to-earnings ratio of 28.47 and a beta of 1.18.

Micron Technology (NASDAQ:MU - Get Free Report) last issued its 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 return on equity of 8.32% and a net margin of 13.34%. The business had revenue of $8.71 billion during the quarter, compared to the consensus estimate of $8.71 billion. During the same quarter last year, the company earned ($0.95) EPS. The firm's revenue was up 84.3% compared to the same quarter last year. Equities research analysts expect that Micron Technology, Inc. will post 6.08 earnings per share for the current year.

Micron Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Monday, December 30th were issued a $0.115 dividend. The ex-dividend date was Monday, December 30th. This represents a $0.46 annualized dividend and a dividend yield of 0.47%. Micron Technology's payout ratio is currently 13.26%.

Insider Buying and Selling at Micron Technology

In related news, EVP April S. Arnzen sold 4,890 shares of the firm's 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 of the company's stock, valued at approximately $15,442,011.83. This trade represents a 2.63 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.30% of the company's stock.

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.