OneAscent Financial Services LLC Boosts Stock Holdings in Micron Technology, Inc. (NASDAQ:MU)

OneAscent Financial Services LLC grew its holdings in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) by 120.5% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 6,972 shares of the semiconductor manufacturer's stock after acquiring an additional 3,810 shares during the quarter. OneAscent Financial Services LLC's holdings in Micron Technology were worth $612,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the company. Norges Bank purchased a new stake in Micron Technology in the fourth quarter worth about $1,470,875,000. Capital World Investors lifted its stake in Micron Technology by 63.7% during the fourth quarter. Capital World Investors now owns 41,096,391 shares of the semiconductor manufacturer's stock worth $3,458,673,000 after purchasing an additional 15,993,036 shares during the last quarter. FMR LLC lifted its stake in Micron Technology by 34.6% in the fourth quarter. FMR LLC now owns 47,672,462 shares of the semiconductor manufacturer's stock valued at $4,012,114,000 after buying an additional 12,249,341 shares during the last quarter. Capital Research Global Investors increased its holdings in shares of Micron Technology by 139.7% in the fourth 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 period. Finally, Capital International Investors grew its holdings in Micron Technology by 36.3% during the fourth quarter. Capital International Investors now owns 16,437,080 shares of the semiconductor manufacturer's stock worth $1,383,442,000 after acquiring an additional 4,375,232 shares during the period. 80.84% of the stock is owned by hedge funds and other institutional investors.

Micron Technology Price Performance

Shares of MU opened at $113.23 on Tuesday. Micron Technology, Inc. has a twelve month low of $61.54 and a twelve month high of $129.85. The firm has a market cap of $126.72 billion, a PE ratio of 19.89 and a beta of 1.35. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.89 and a current ratio of 2.75. The firm's 50 day moving average price is $111.39 and its 200 day moving average price is $97.08.

Micron Technology (NASDAQ:MU - Get Free Report) last posted its earnings results on Wednesday, June 25th. The semiconductor manufacturer reported $1.91 earnings per share for the quarter, topping analysts' consensus estimates of $1.57 by $0.34. The company had revenue of $9.30 billion during the quarter, compared to the consensus estimate of $8.83 billion. Micron Technology had a return on equity of 13.60% and a net margin of 18.41%. During the same quarter last year, the firm earned $0.62 earnings per share. As a group, research analysts expect 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. Shareholders of record on Monday, July 7th will be issued a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.41%. The ex-dividend date of this dividend is Monday, July 7th. Micron Technology's payout ratio is 8.29%.

Insider Buying and Selling

In other news, EVP Sumit Sadana sold 92,638 shares of the stock in a transaction that occurred on Friday, June 27th. The stock was sold at an average price of $125.49, for a total value of $11,625,142.62. Following the sale, the executive vice president directly owned 201,326 shares in the company, valued at approximately $25,264,399.74. This represents a 31.51% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Manish H. Bhatia sold 80,000 shares of the firm's stock in a transaction on Monday, June 30th. The stock was sold at an average price of $123.16, for a total value of $9,852,800.00. Following the completion of the sale, the executive vice president directly owned 275,067 shares of the company's stock, valued at $33,877,251.72. The trade was a 22.53% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 254,446 shares of company stock valued at $31,154,717 over the last ninety days. 0.30% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several analysts have recently commented on MU shares. Mizuho raised their target price on Micron Technology from $124.00 to $130.00 and gave the stock an "outperform" rating in a research report on Thursday, June 5th. Bank of America increased their price target on Micron Technology from $84.00 to $140.00 and gave the company a "neutral" rating in a research note on Thursday, June 26th. Citigroup raised their price objective on Micron Technology from $130.00 to $150.00 and gave the company a "buy" rating in a report on Thursday, June 26th. Susquehanna upped their price target on shares of Micron Technology from $150.00 to $160.00 and gave the stock a "positive" rating in a report on Thursday, June 26th. Finally, UBS Group increased their price objective on shares of Micron Technology from $120.00 to $155.00 and gave the stock a "buy" rating in a research report on Thursday, June 26th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $146.44.

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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