Micron Technology, Inc. (NASDAQ:MU) Stock Holdings Trimmed by Victory Capital Management Inc.

Victory Capital Management Inc. trimmed its holdings in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) by 1.3% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 839,400 shares of the semiconductor manufacturer's stock after selling 11,106 shares during the period. Victory Capital Management Inc. owned approximately 0.08% of Micron Technology worth $72,935,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in MU. Brighton Jones LLC grew its position in shares of Micron Technology by 18.3% in the fourth quarter. Brighton Jones LLC now owns 6,318 shares of the semiconductor manufacturer's stock valued at $532,000 after purchasing an additional 976 shares during the last quarter. Bank Pictet & Cie Europe AG grew its stake in Micron Technology by 19.5% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 85,722 shares of the semiconductor manufacturer's stock valued at $7,214,000 after buying an additional 13,985 shares in the last quarter. Proficio Capital Partners LLC grew its position in Micron Technology by 74.7% in the fourth quarter. Proficio Capital Partners LLC now owns 4,056 shares of the semiconductor manufacturer's stock worth $341,000 after acquiring an additional 1,734 shares in the last quarter. Evoke Wealth LLC raised its stake in shares of Micron Technology by 7.1% during the fourth quarter. Evoke Wealth LLC now owns 2,656 shares of the semiconductor manufacturer's stock valued at $224,000 after acquiring an additional 176 shares during the last quarter. Finally, Generali Asset Management SPA SGR purchased a new stake in shares of Micron Technology during the fourth quarter valued at approximately $2,602,000. Institutional investors own 80.84% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on MU. China Renaissance downgraded shares of Micron Technology from a "buy" rating to a "hold" rating and set a $84.00 price target for the company. in a research note on Wednesday, March 26th. UBS Group lifted their price objective on shares of Micron Technology from $120.00 to $155.00 and gave the company a "buy" rating in a research note on Thursday, June 26th. Wall Street Zen upgraded Micron Technology from a "hold" rating to a "buy" rating in a report on Saturday, June 14th. Piper Sandler raised their price target on Micron Technology from $120.00 to $165.00 and gave the company an "overweight" rating in a report on Thursday, June 26th. Finally, TD Cowen lifted their target price on Micron Technology from $125.00 to $150.00 and gave the company a "buy" rating in a research report on Thursday, June 26th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Micron Technology currently has a consensus rating of "Moderate Buy" and a consensus target price of $146.44.

Insider Activity

In other Micron Technology news, Director Mary Pat Mccarthy sold 2,404 shares of Micron Technology stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $121.28, for a total transaction of $291,557.12. Following the transaction, the director directly owned 22,550 shares of the company's stock, valued at $2,734,864. The trade was a 9.63% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP April S. Arnzen sold 15,000 shares of the stock in a transaction dated Tuesday, June 24th. The shares were sold at an average price of $125.12, for a total transaction of $1,876,800.00. Following the completion of the transaction, the executive vice president owned 148,167 shares of the company's stock, valued at $18,538,655.04. This represents a 9.19% decrease in their position. The disclosure for this sale can be found here. Insiders sold 254,446 shares of company stock worth $31,154,717 over the last 90 days. Company insiders own 0.30% of the company's stock.

Micron Technology Trading Down 2.7%

NASDAQ MU opened at $113.26 on Friday. The company has a market cap of $126.75 billion, a P/E ratio of 20.41 and a beta of 1.35. Micron Technology, Inc. has a 12 month low of $61.54 and a 12 month high of $129.85. The company has a 50-day moving average of $110.82 and a 200-day moving average of $96.72. 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 (NASDAQ:MU - Get Free Report) last announced its quarterly earnings results on Wednesday, June 25th. The semiconductor manufacturer reported $1.91 earnings per share (EPS) for the quarter, topping 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 company had revenue of $9.30 billion during the quarter, compared to the consensus estimate of $8.83 billion. During the same period in the prior year, the company earned $0.62 earnings per share. As a group, equities analysts predict that Micron Technology, Inc. will post 6.08 earnings per share for the current year.

Micron Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 22nd. Investors of record on Monday, July 7th will be paid a dividend of $0.115 per share. The ex-dividend date of this dividend is Monday, July 7th. This represents a $0.46 annualized dividend and a yield of 0.41%. Micron Technology's dividend payout ratio is presently 8.29%.

Micron Technology 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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