Amalgamated Bank Grows Position in Micron Technology, Inc. (NASDAQ:MU)

Amalgamated Bank boosted its stake in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 1.4% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 215,184 shares of the semiconductor manufacturer's stock after buying an additional 3,006 shares during the quarter. Amalgamated Bank's holdings in Micron Technology were worth $18,697,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Norges Bank purchased a new stake in shares of Micron Technology during the 4th quarter valued at $1,470,875,000. Capital World Investors increased its position in shares of Micron Technology by 63.7% during the 4th quarter. Capital World Investors now owns 41,096,391 shares of the semiconductor manufacturer's stock valued at $3,458,673,000 after purchasing an additional 15,993,036 shares during the last quarter. FMR LLC increased its position in shares of Micron Technology by 34.6% during the 4th quarter. FMR LLC now owns 47,672,462 shares of the semiconductor manufacturer's stock valued at $4,012,114,000 after purchasing an additional 12,249,341 shares during the last quarter. Capital Research Global Investors increased its position in shares of Micron Technology by 139.7% during the 4th quarter. Capital Research Global Investors now owns 16,281,620 shares of the semiconductor manufacturer's stock valued at $1,370,280,000 after purchasing an additional 9,489,579 shares during the last quarter. Finally, Capital International Investors increased its position in shares of Micron Technology by 36.3% during the 4th quarter. Capital International Investors now owns 16,437,080 shares of the semiconductor manufacturer's stock valued at $1,383,442,000 after purchasing an additional 4,375,232 shares during the last quarter. 80.84% of the stock is owned by hedge funds and other institutional investors.

Micron Technology Stock Down 1.0%

Shares of MU opened at $124.76 on Monday. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.75 and a quick ratio of 1.89. Micron Technology, Inc. has a 1 year low of $61.54 and a 1 year high of $137.13. The stock has a 50 day simple moving average of $98.71 and a two-hundred day simple moving average of $94.15. The firm has a market cap of $139.62 billion, a P/E ratio of 22.48 and a beta of 1.28.

Micron Technology (NASDAQ:MU - Get Free Report) last announced its quarterly earnings data on Wednesday, June 25th. The semiconductor manufacturer reported $1.91 earnings per share for the quarter, beating the consensus estimate of $1.57 by $0.34. Micron Technology had a return on equity of 13.60% and a net margin of 18.41%. The firm had revenue of $9.30 billion during the quarter, compared to the consensus estimate of $8.83 billion. During the same quarter in the previous year, the company posted $0.62 earnings per share. On average, analysts forecast that Micron Technology, Inc. will post 6.08 earnings per share for the current fiscal year.

Micron Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 22nd. Shareholders of record on Monday, July 7th will be given a $0.115 dividend. The ex-dividend date of this dividend is Monday, July 7th. This represents a $0.46 annualized dividend and a yield of 0.37%. Micron Technology's payout ratio is currently 11.03%.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. Robert W. Baird increased their price target on Micron Technology from $163.00 to $200.00 and gave the stock an "outperform" rating in a research note on Friday. Morgan Stanley increased their price target on Micron Technology from $98.00 to $135.00 and gave the stock an "equal weight" rating in a research note on Thursday. Royal Bank Of Canada set a $125.00 price target on Micron Technology in a research note on Wednesday, March 19th. Piper Sandler increased their price target on Micron Technology from $120.00 to $165.00 and gave the stock an "overweight" rating in a research note on Thursday. Finally, Cantor Fitzgerald increased their price target on Micron Technology from $145.00 to $155.00 and gave the stock an "overweight" rating in a research note on Thursday. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $146.21.

Insider Buying and Selling at Micron Technology

In related news, Director Mary Pat Mccarthy sold 2,404 shares of the company's stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $80.00, for a total transaction of $192,320.00. Following the completion of the transaction, the director now owns 24,954 shares in the company, valued at $1,996,320. This represents a 8.79% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Sanjay Mehrotra sold 2,290 shares of the company's stock in a transaction that occurred on Monday, June 16th. The shares were sold at an average price of $120.31, for a total value of $275,509.90. Following the transaction, the chief executive officer now owns 384,885 shares of the company's stock, valued at approximately $46,305,514.35. This represents a 0.59% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 72,404 shares of company stock worth $8,509,167. 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.

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