Credit Capital Investments LLC boosted its stake in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 2.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 61,551 shares of the semiconductor manufacturer's stock after buying an additional 1,750 shares during the period. Micron Technology accounts for approximately 16.5% of Credit Capital Investments LLC's portfolio, making the stock its largest position. Credit Capital Investments LLC's holdings in Micron Technology were worth $17,567,000 at the end of the most recent reporting period.
Other large investors have also bought and sold shares of the company. iA Global Asset Management Inc. raised its holdings in Micron Technology by 18.7% in the third quarter. iA Global Asset Management Inc. now owns 146,890 shares of the semiconductor manufacturer's stock worth $24,578,000 after purchasing an additional 23,117 shares in the last quarter. Wealthfront Advisers LLC boosted its holdings in shares of Micron Technology by 9.8% during the 3rd quarter. Wealthfront Advisers LLC now owns 95,396 shares of the semiconductor manufacturer's stock valued at $15,962,000 after buying an additional 8,489 shares in the last quarter. Generation Capital Management LLC purchased a new stake in shares of Micron Technology in the 3rd quarter worth about $238,000. Westpac Banking Corp grew its position in shares of Micron Technology by 251.0% in the 3rd quarter. Westpac Banking Corp now owns 23,086 shares of the semiconductor manufacturer's stock worth $3,863,000 after buying an additional 16,509 shares during the period. Finally, Avanda Investment Management Pte. Ltd. bought a new position in shares of Micron Technology in the 3rd quarter worth about $418,000. 80.84% of the stock is owned by institutional investors.
Insider Transactions at Micron Technology
In related news, EVP Sumit Sadana sold 24,000 shares of the firm's stock in a transaction that occurred on Friday, April 10th. The shares were sold at an average price of $421.35, for a total value of $10,112,400.00. Following the transaction, the executive vice president owned 224,021 shares of the company's stock, valued at approximately $94,391,248.35. This trade represents a 9.68% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP April S. Arnzen sold 40,000 shares of the company's stock in a transaction that occurred on Wednesday, April 1st. The shares were sold at an average price of $347.39, for a total transaction of $13,895,600.00. Following the sale, the executive vice president directly owned 125,737 shares of the company's stock, valued at approximately $43,679,776.43. This represents a 24.13% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 104,000 shares of company stock worth $45,458,400 in the last quarter. Company insiders own 0.24% of the company's stock.
Micron Technology Price Performance
MU opened at $666.14 on Thursday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.32 and a current ratio of 2.90. The company's 50-day simple moving average is $431.27 and its two-hundred day simple moving average is $344.94. Micron Technology, Inc. has a 52-week low of $80.20 and a 52-week high of $667.67. The stock has a market capitalization of $751.23 billion, a P/E ratio of 31.45 and a beta of 1.91.
Micron Technology Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 15th. Stockholders of record on Monday, March 30th were given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 0.1%. The ex-dividend date of this dividend was Monday, March 30th. This is an increase from Micron Technology's previous quarterly dividend of $0.12. Micron Technology's payout ratio is currently 2.83%.
Wall Street Analysts Forecast Growth
Several equities research analysts recently commented on the stock. Erste Group Bank lowered shares of Micron Technology from a "buy" rating to a "hold" rating in a research note on Thursday, April 2nd. Cantor Fitzgerald raised their target price on shares of Micron Technology from $450.00 to $700.00 and gave the company an "overweight" rating in a research note on Thursday, March 19th. Piper Sandler lifted their target price on shares of Micron Technology from $275.00 to $400.00 and gave the company an "overweight" rating in a report on Wednesday, January 7th. Sanford C. Bernstein upped their price target on Micron Technology from $330.00 to $510.00 and gave the stock an "outperform" rating in a research note on Wednesday, March 18th. Finally, Wedbush raised their price objective on Micron Technology from $320.00 to $500.00 and gave the company an "outperform" rating in a research report on Friday, March 13th. Five investment analysts have rated the stock with a Strong Buy rating, thirty have issued a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Buy" and an average target price of $478.24.
Check Out Our Latest Stock Analysis on Micron Technology
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About Micron Technology
(
Free Report)
Micron Technology, Inc is a global semiconductor company that designs and manufactures memory and storage solutions. Its product portfolio includes dynamic random-access memory (DRAM), NAND flash memory, solid-state drives (SSDs), memory modules and embedded memory solutions for a wide range of computing and electronic devices. Micron supplies components used in data centers, enterprise and cloud infrastructure, client computing, mobile devices, automotive systems and industrial applications, and also markets consumer-facing products under the Crucial brand.
Founded in 1978 and headquartered in Boise, Idaho, Micron has grown into an international manufacturer with research, development and production facilities across multiple regions.
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