BDF Gestion Sells 7,126 Shares of Micron Technology, Inc. (NASDAQ:MU)

BDF Gestion reduced its stake in shares of Micron Technology, Inc. (NASDAQ:MU) by 11.5% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 54,874 shares of the semiconductor manufacturer’s stock after selling 7,126 shares during the period. BDF Gestion’s holdings in Micron Technology were worth $4,618,000 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. Ascent Group LLC increased its holdings in Micron Technology by 4.2% in the 2nd quarter. Ascent Group LLC now owns 3,306 shares of the semiconductor manufacturer’s stock worth $435,000 after acquiring an additional 133 shares during the last quarter. Quarry LP increased its stake in shares of Micron Technology by 130.5% in the second quarter. Quarry LP now owns 604 shares of the semiconductor manufacturer’s stock worth $79,000 after purchasing an additional 342 shares in the last quarter. EP Wealth Advisors LLC raised its position in shares of Micron Technology by 43.1% in the second quarter. EP Wealth Advisors LLC now owns 16,686 shares of the semiconductor manufacturer’s stock valued at $2,195,000 after purchasing an additional 5,024 shares during the period. Truist Financial Corp lifted its stake in shares of Micron Technology by 16.4% during the 2nd quarter. Truist Financial Corp now owns 143,215 shares of the semiconductor manufacturer’s stock valued at $18,837,000 after buying an additional 20,209 shares in the last quarter. Finally, Cetera Investment Advisers boosted its holdings in Micron Technology by 30.8% in the 2nd quarter. Cetera Investment Advisers now owns 253,256 shares of the semiconductor manufacturer’s stock worth $33,311,000 after buying an additional 59,707 shares during the period. 80.84% of the stock is owned by institutional investors.

Analyst Ratings Changes

MU has been the topic of a number of analyst reports. Bank of America cut shares of Micron Technology from a “buy” rating to a “neutral” rating and lowered their target price for the company from $125.00 to $110.00 in a report on Thursday, December 19th. Barclays decreased their price target on Micron Technology from $145.00 to $110.00 and set an “overweight” rating on the stock in a research report on Friday, December 20th. TD Cowen cut their price objective on shares of Micron Technology from $135.00 to $125.00 and set a “buy” rating for the company in a research report on Thursday, December 19th. Sanford C. Bernstein decreased their target price on shares of Micron Technology from $140.00 to $120.00 and set an “outperform” rating on the stock in a report on Wednesday, December 18th. Finally, KeyCorp cut their price target on shares of Micron Technology from $145.00 to $135.00 and set an “overweight” rating for the company in a report on Tuesday, October 8th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and twenty-three have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $134.96.

Micron Technology Price Performance

MU stock opened at $89.04 on Thursday. The firm has a market cap of $99.21 billion, a P/E ratio of 25.66 and a beta of 1.18. The firm’s fifty day moving average is $98.04 and its 200 day moving average is $100.48. Micron Technology, Inc. has a 52 week low of $79.15 and a 52 week high of $157.54. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.75 and a current ratio of 2.72.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings data on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.60 by $0.19. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. The firm had revenue of $8.71 billion for the quarter, compared to analysts’ expectations of $8.71 billion. During the same period last year, the firm earned ($0.95) earnings per share. The company’s revenue for the quarter was up 84.3% compared to the same quarter last year. Research analysts predict that Micron Technology, Inc. will post 6.29 earnings per share for the current year.

Micron Technology Dividend Announcement

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. The ex-dividend date of this dividend was Monday, December 30th. This represents a $0.46 annualized dividend and a yield of 0.52%. Micron Technology’s payout ratio is currently 13.26%.

Insider Activity

In related news, EVP April S. Arnzen sold 4,890 shares of the business’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 owns 181,223 shares in the company, valued at $15,442,011.83. The trade was a 2.63 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.30% of the company’s stock.

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.