Phoenix Financial Ltd. Has $3.32 Million Holdings in Micron Technology, Inc. (NASDAQ:MU)

Phoenix Financial Ltd. boosted its holdings in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) by 10.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 39,404 shares of the semiconductor manufacturer's stock after buying an additional 3,618 shares during the quarter. Phoenix Financial Ltd.'s holdings in Micron Technology were worth $3,320,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. E Fund Management Co. Ltd. grew its stake 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 valued at $3,062,000 after buying an additional 8,780 shares during the last quarter. CIBC Private Wealth Group LLC grew its position in shares of Micron Technology by 43.0% in 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 purchasing an additional 4,264 shares during the last quarter. Stablepoint Partners LLC bought a new position in shares of Micron Technology in the fourth quarter worth about $569,000. Landscape Capital Management L.L.C. lifted its position in shares of 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 worth $3,851,000 after purchasing an additional 28,621 shares during the last quarter. Finally, Fort Washington Investment Advisors Inc. OH boosted its stake in Micron Technology by 11.7% during the 4th quarter. Fort Washington Investment Advisors Inc. OH now owns 502,374 shares of the semiconductor manufacturer's stock valued at $42,280,000 after purchasing an additional 52,729 shares during the period. 80.84% of the stock is currently owned by institutional investors.

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Insiders Place Their Bets

In other Micron Technology news, EVP April S. Arnzen sold 15,000 shares of the firm's 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 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Mary Pat Mccarthy sold 2,404 shares of the business's stock in a transaction dated 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. The trade was a 8.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.30% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on MU shares. TD Cowen dropped their price objective on shares of Micron Technology from $135.00 to $125.00 and set a "buy" rating on the stock in a report on Thursday, December 19th. KGI Securities upgraded Micron Technology to a "strong-buy" rating in a research note on Friday, February 21st. JPMorgan Chase & Co. reduced their price objective 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. UBS Group boosted their price objective on Micron Technology from $125.00 to $130.00 and gave the company a "buy" rating in a research report on Monday, March 17th. Finally, Sanford C. Bernstein reduced their target price on Micron Technology from $140.00 to $120.00 and set an "outperform" rating for the company in a research report on Wednesday, December 18th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Micron Technology presently has a consensus rating of "Moderate Buy" and a consensus target price of $129.36.

Micron Technology Price Performance

NASDAQ MU traded up $0.70 on Tuesday, hitting $71.72. 8,467,725 shares of the company were exchanged, compared to its average volume of 23,220,102. Micron Technology, Inc. has a 1-year low of $61.54 and a 1-year high of $157.54. The firm has a 50 day moving average of $90.21 and a two-hundred day moving average of $96.75. 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 company has a market cap of $80.15 billion, a P/E ratio of 20.67 and a beta of 1.18.

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

Micron Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be given 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 0.64%. Micron Technology's payout ratio is 11.03%.

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.