Jacobsen Capital Management Buys New Shares in Micron Technology, Inc. (NASDAQ:MU)

Jacobsen Capital Management acquired a new stake in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 2,348 shares of the semiconductor manufacturer's stock, valued at approximately $204,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. E Fund Management Co. Ltd. lifted its holdings in Micron Technology by 31.8% in the fourth quarter. E Fund Management Co. Ltd. now owns 36,378 shares of the semiconductor manufacturer's stock worth $3,062,000 after buying an additional 8,780 shares during the period. CIBC Private Wealth Group LLC lifted its holdings in shares of 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. lifted its holdings in shares of 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 purchased a new position in shares of Micron Technology during the fourth quarter valued at approximately $34,412,000. Finally, Janus Henderson Group PLC lifted its holdings in shares of Micron Technology by 74.6% during the fourth quarter. Janus Henderson Group PLC now owns 2,646,936 shares of the semiconductor manufacturer's stock valued at $222,779,000 after purchasing an additional 1,130,680 shares during the last quarter. 80.84% of the stock is owned by institutional investors.

Micron Technology Stock Performance

Micron Technology stock 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 firm has a market capitalization of $139.62 billion, a P/E ratio of 22.48 and a beta of 1.28. The company's 50-day moving average is $98.71 and its 200 day moving average is $94.15.

Micron Technology (NASDAQ:MU - Get Free Report) last issued its earnings results on Wednesday, June 25th. The semiconductor manufacturer reported $1.91 EPS for the quarter, topping analysts' consensus estimates of $1.57 by $0.34. The business had revenue of $9.30 billion for the quarter, compared to the consensus estimate of $8.83 billion. Micron Technology had a net margin of 18.41% and a return on equity of 13.60%. During the same period in the prior year, the firm earned $0.62 EPS. Research analysts forecast that Micron Technology, Inc. will post 6.08 EPS for the current year.

Micron Technology Dividend Announcement

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

Insiders Place Their Bets

In related news, Director Mary Pat Mccarthy sold 2,404 shares of the stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $80.00, for a total transaction of $192,320.00. Following the completion of the sale, the director now owns 24,954 shares of the company's stock, valued at $1,996,320. This represents a 8.79% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP April S. Arnzen sold 15,000 shares of the firm's stock in a transaction on Tuesday, June 24th. The stock was sold at an average price of $125.12, for a total transaction of $1,876,800.00. Following the transaction, the executive vice president now directly owns 148,167 shares of the company's stock, valued at approximately $18,538,655.04. This trade represents a 9.19% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 72,404 shares of company stock worth $8,509,167 in the last three months. Corporate insiders own 0.30% of the company's stock.

Wall Street Analyst Weigh In

MU has been the subject of several analyst reports. TD Cowen raised their price target on shares of Micron Technology from $125.00 to $150.00 and gave the company a "buy" rating in a research report on Thursday. Citigroup raised their price target on shares of Micron Technology from $130.00 to $150.00 and gave the company a "buy" rating in a research report on Thursday. Robert W. Baird raised their price target on shares of Micron Technology from $163.00 to $200.00 and gave the company an "outperform" rating in a research report on Friday. Wells Fargo & Company lifted their target price on shares of Micron Technology from $150.00 to $170.00 and gave the stock an "overweight" rating in a research report on Thursday. Finally, Piper Sandler lifted their target price on shares of Micron Technology from $120.00 to $165.00 and gave the stock an "overweight" rating in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, Micron Technology has a consensus rating of "Moderate Buy" and a consensus target price of $146.21.

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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