3Chopt Investment Partners LLC bought a new position in Micron Technology, Inc. (NASDAQ:MU - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 5,530 shares of the semiconductor manufacturer's stock, valued at approximately $481,000.
Other hedge funds and other institutional investors also recently modified their holdings of the company. E Fund Management Co. Ltd. increased its holdings in shares of 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 acquiring an additional 8,780 shares during the last quarter. CIBC Private Wealth Group LLC increased its stake in Micron Technology by 43.0% during 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. Landscape Capital Management L.L.C. increased its stake in Micron Technology by 167.0% during the fourth quarter. Landscape Capital Management L.L.C. now owns 45,758 shares of the semiconductor manufacturer's stock valued at $3,851,000 after purchasing an additional 28,621 shares during the last quarter. Duquesne Family Office LLC bought a new stake in shares of Micron Technology during the 4th quarter valued at about $34,412,000. Finally, Janus Henderson Group PLC grew its position in shares of Micron Technology by 74.6% during the 4th quarter. Janus Henderson Group PLC now owns 2,646,936 shares of the semiconductor manufacturer's stock valued at $222,779,000 after buying an additional 1,130,680 shares during the last quarter. Institutional investors own 80.84% of the company's stock.
Insider Buying and Selling
In related news, Director Mary Pat Mccarthy sold 2,404 shares of the firm's stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $80.00, for a total value of $192,320.00. Following the completion of the transaction, the director now owns 24,954 shares of the company's stock, valued at approximately $1,996,320. This trade represents a 8.79% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Scott J. Deboer sold 20,000 shares of the firm's stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $110.00, for a total transaction of $2,200,000.00. Following the completion of the transaction, the executive vice president now directly owns 186,353 shares of the company's stock, valued at $20,498,830. This represents a 9.69% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 72,404 shares of company stock worth $8,509,167. Corporate insiders own 0.30% of the company's stock.
Wall Street Analysts Forecast Growth
A number of equities research analysts recently weighed in on MU shares. Piper Sandler boosted their price objective on shares of Micron Technology from $120.00 to $165.00 and gave the company an "overweight" rating in a research report on Thursday. KeyCorp upped their target price on Micron Technology from $135.00 to $160.00 and gave the company an "overweight" rating in a report on Thursday. Wedbush upped their price objective on Micron Technology from $150.00 to $165.00 and gave the stock an "outperform" rating in a research note on Thursday. Barclays upped their price target on shares of Micron Technology from $95.00 to $140.00 and gave the stock an "overweight" rating in a research report on Thursday. Finally, Raymond James Financial upped their price target on shares of Micron Technology from $120.00 to $150.00 and gave the stock an "outperform" rating in a research report on Thursday. One analyst has rated the stock with a sell rating, three have given a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Micron Technology has a consensus rating of "Moderate Buy" and an average target price of $146.21.
Check Out Our Latest Report on Micron Technology
Micron Technology Stock Performance
Shares of NASDAQ MU opened at $124.76 on Friday. The stock has a fifty day moving average price of $98.71 and a two-hundred day moving average price of $94.18. Micron Technology, Inc. has a 1 year low of $61.54 and a 1 year high of $137.13. The firm has a market cap of $139.43 billion, a P/E ratio of 22.48 and a beta of 1.28. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.99 and a current ratio of 3.13.
Micron Technology (NASDAQ:MU - Get Free Report) last released its earnings results on Wednesday, June 25th. The semiconductor manufacturer reported $1.91 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.57 by $0.34. Micron Technology had a return on equity of 13.88% and a net margin of 18.41%. The firm had revenue of $9.30 billion for the quarter, compared to analyst estimates of $8.83 billion. During the same period in the previous year, the company earned $0.62 earnings per share. Research analysts forecast that Micron Technology, Inc. will post 6.08 EPS for the current fiscal year.
Micron Technology Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 22nd. Investors of record on Monday, July 7th will be issued a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a yield of 0.37%. The ex-dividend date is Monday, July 7th. Micron Technology's payout ratio is 11.03%.
Micron Technology Company Profile
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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.
See Also
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