Rakuten Securities Inc. decreased its position in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) by 17.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 41,412 shares of the semiconductor manufacturer's stock after selling 8,770 shares during the quarter. Micron Technology accounts for approximately 1.4% of Rakuten Securities Inc.'s investment portfolio, making the stock its 12th largest position. Rakuten Securities Inc.'s holdings in Micron Technology were worth $3,485,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also bought and sold shares of the company. Harmony Asset Management LLC lifted its stake in Micron Technology by 75.6% in the 3rd quarter. Harmony Asset Management LLC now owns 11,889 shares of the semiconductor manufacturer's stock valued at $1,233,000 after purchasing an additional 5,120 shares during the last quarter. Lazard Freres Gestion S.A.S. lifted its stake in Micron Technology by 241.7% in the 3rd quarter. Lazard Freres Gestion S.A.S. now owns 41,000 shares of the semiconductor manufacturer's stock valued at $4,252,000 after purchasing an additional 29,000 shares during the last quarter. Stablepoint Partners LLC bought a new position in Micron Technology in the 4th quarter valued at approximately $569,000. E Fund Management Co. Ltd. lifted 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 purchasing an additional 8,780 shares during the last quarter. Finally, State Street Corp lifted its stake in Micron Technology by 3.1% in the 3rd quarter. State Street Corp now owns 48,226,710 shares of the semiconductor manufacturer's stock valued at $5,001,592,000 after purchasing an additional 1,434,568 shares during the last quarter. Institutional investors own 80.84% of the company's stock.
Wall Street Analyst Weigh In
Several brokerages recently commented on MU. Piper Sandler dropped their price objective 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. Sanford C. Bernstein dropped their price target on shares of Micron Technology from $140.00 to $120.00 and set an "outperform" rating for the company in a research note on Wednesday, December 18th. Robert W. Baird dropped their price target on shares of Micron Technology from $150.00 to $130.00 and set an "outperform" rating for the company in a research note on Thursday, December 19th. KGI Securities raised shares of Micron Technology to a "strong-buy" rating in a research note on Friday, February 21st. Finally, Rosenblatt Securities reaffirmed a "buy" rating and set a $250.00 price target on shares of Micron Technology in a research note on Wednesday, December 18th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $134.96.
View Our Latest Analysis on Micron Technology
Insiders Place Their Bets
In other news, EVP April S. Arnzen sold 4,890 shares of the business's stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $85.21, for a total value of $416,676.90. Following the sale, the executive vice president now owns 181,223 shares of the company's stock, valued at $15,442,011.83. The trade was a 2.63 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Mary Pat Mccarthy sold 2,404 shares of the business's stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $92.93, for a total transaction of $223,403.72. Following the transaction, the director now directly owns 27,358 shares of the company's stock, valued at approximately $2,542,378.94. This represents a 8.08 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.30% of the company's stock.
Micron Technology Trading Up 2.3 %
NASDAQ:MU opened at $89.05 on Wednesday. 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 stock has a market capitalization of $99.22 billion, a price-to-earnings ratio of 25.66 and a beta of 1.23. The firm has a fifty day simple moving average of $96.12 and a two-hundred day simple moving average of $98.07. Micron Technology, Inc. has a 12 month low of $83.54 and a 12 month high of $157.54.
Micron Technology (NASDAQ:MU - Get Free Report) last released its quarterly earnings results on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 earnings per share for the quarter, beating analysts' consensus estimates of $1.60 by $0.19. Micron Technology had a net margin of 13.34% and a return on equity of 8.32%. The company had revenue of $8.71 billion for the quarter, compared to analyst estimates of $8.71 billion. During the same period last year, the firm earned ($0.95) earnings per share. The firm's revenue was up 84.3% on a year-over-year basis. Analysts expect that Micron Technology, Inc. will post 6.08 EPS for the current fiscal year.
Micron Technology Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Monday, December 30th were given a $0.115 dividend. This represents a $0.46 annualized dividend and a yield of 0.52%. The ex-dividend date of this dividend was Monday, December 30th. Micron Technology's dividend payout ratio is 13.26%.
About Micron Technology
(
Free Report)
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.
Further Reading
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