LGT Group Foundation Acquires 3,615 Shares of Micron Technology, Inc. (NASDAQ:MU)

LGT Group Foundation boosted its position in shares of Micron Technology, Inc. (NASDAQ:MU) by 4.3% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 87,356 shares of the semiconductor manufacturer’s stock after purchasing an additional 3,615 shares during the quarter. LGT Group Foundation’s holdings in Micron Technology were worth $7,352,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Clal Insurance Enterprises Holdings Ltd grew its position in Micron Technology by 20.6% during the 4th quarter. Clal Insurance Enterprises Holdings Ltd now owns 838,000 shares of the semiconductor manufacturer’s stock valued at $70,622,000 after purchasing an additional 143,000 shares during the last quarter. SBI Securities Co. Ltd. purchased a new stake in Micron Technology during the 4th quarter valued at about $4,444,000. Jones Financial Companies Lllp grew its position in Micron Technology by 85.2% during the 4th quarter. Jones Financial Companies Lllp now owns 34,794 shares of the semiconductor manufacturer’s stock valued at $2,928,000 after purchasing an additional 16,008 shares during the last quarter. Modera Wealth Management LLC grew its position in Micron Technology by 13.5% during the 4th quarter. Modera Wealth Management LLC now owns 4,647 shares of the semiconductor manufacturer’s stock valued at $391,000 after purchasing an additional 554 shares during the last quarter. Finally, Riverview Trust Co grew its position in Micron Technology by 28.2% during the 4th quarter. Riverview Trust Co now owns 637 shares of the semiconductor manufacturer’s stock valued at $54,000 after purchasing an additional 140 shares during the last quarter. 80.84% of the stock is owned by hedge funds and other institutional investors.

Micron Technology Trading Up 2.0 %

Micron Technology stock opened at $93.63 on Monday. The stock has a market cap of $104.32 billion, a P/E ratio of 26.98 and a beta of 1.18. 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, Inc. has a 1 year low of $83.54 and a 1 year high of $157.54. The firm’s 50 day moving average price is $95.75 and its 200-day moving average price is $98.87.

Micron Technology (NASDAQ:MU) last released its quarterly earnings data on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.60 by $0.19. The firm had revenue of $8.71 billion for the quarter, compared to analysts’ expectations of $8.71 billion. Micron Technology had a net margin of 13.34% and a return on equity of 8.32%. The company’s revenue for the quarter was up 84.3% compared to the same quarter last year. During the same quarter last year, the business posted ($0.95) earnings per share. On average, equities analysts predict that Micron Technology, Inc. will post 6.08 earnings per share for the current fiscal year.

Micron Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Monday, December 30th were issued a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.49%. The ex-dividend date was Monday, December 30th. Micron Technology’s dividend payout ratio (DPR) is presently 13.26%.

Analyst Upgrades and Downgrades

MU has been the topic of a number of recent analyst reports. Piper Sandler dropped their price target on shares of Micron Technology from $150.00 to $120.00 and set an “overweight” rating on the stock in a report on Thursday, December 19th. Barclays dropped their price target on shares of Micron Technology from $145.00 to $110.00 and set an “overweight” rating on the stock in a report on Friday, December 20th. Rosenblatt Securities reaffirmed a “buy” rating and set a $250.00 price target on shares of Micron Technology in a report on Wednesday, December 18th. Cantor Fitzgerald dropped their price target on shares of Micron Technology from $150.00 to $130.00 and set an “overweight” rating on the stock in a report on Thursday, December 19th. Finally, Wells Fargo & Company dropped their price target on shares of Micron Technology from $175.00 to $140.00 and set an “overweight” rating on the stock in a report on Thursday, December 19th. One analyst has rated the stock with a sell rating, three have given a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Micron Technology presently has an average rating of “Moderate Buy” and a consensus price target of $134.96.

Insider Activity at Micron Technology

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of Micron Technology stock in a transaction on Friday, December 20th. The shares were sold at an average price of $85.21, for a total transaction of $416,676.90. Following the completion of the transaction, the executive vice president now directly 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 filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.30% of the stock is currently owned by insiders.

Micron Technology Company 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.