Duality Advisers LP Purchases Shares of 65,894 Micron Technology, Inc. (NASDAQ:MU)

Duality Advisers LP purchased a new stake in Micron Technology, Inc. (NASDAQ:MU - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 65,894 shares of the semiconductor manufacturer's stock, valued at approximately $5,623,000. Micron Technology makes up about 0.6% of Duality Advisers LP's holdings, making the stock its 19th biggest position.

Other institutional investors have also recently bought and sold shares of the company. Northern Trust Corp lifted its stake in Micron Technology by 0.7% in the third quarter. Northern Trust Corp now owns 10,833,670 shares of the semiconductor manufacturer's stock valued at $737,015,000 after buying an additional 80,345 shares in the last quarter. L2 Asset Management LLC lifted its position in shares of Micron Technology by 492.3% in the third quarter. L2 Asset Management LLC now owns 26,444 shares of the semiconductor manufacturer's stock worth $1,799,000 after purchasing an additional 21,979 shares in the last quarter. Invesco Ltd. lifted its position in shares of Micron Technology by 11.8% in the third quarter. Invesco Ltd. now owns 8,807,926 shares of the semiconductor manufacturer's stock worth $599,203,000 after purchasing an additional 927,302 shares in the last quarter. Merlin Capital Inc bought a new stake in shares of Micron Technology in the third quarter worth $407,000. Finally, Amitell Capital Pte Ltd lifted its position in shares of Micron Technology by 97.9% in the third quarter. Amitell Capital Pte Ltd now owns 95,210 shares of the semiconductor manufacturer's stock worth $6,477,000 after purchasing an additional 47,105 shares in the last quarter. Institutional investors own 80.84% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the stock. Piper Sandler boosted their price objective on shares of Micron Technology from $95.00 to $130.00 and gave the stock an "overweight" rating in a research report on Thursday, March 21st. Wells Fargo & Company upped their price target on shares of Micron Technology from $125.00 to $135.00 and gave the stock an "overweight" rating in a research report on Thursday, March 21st. UBS Group upped their price target on shares of Micron Technology from $95.00 to $120.00 and gave the stock a "buy" rating in a research report on Tuesday, March 19th. Rosenblatt Securities reaffirmed a "buy" rating and set a $140.00 price target on shares of Micron Technology in a research report on Monday, March 18th. Finally, Citigroup reaffirmed a "buy" rating and set a $150.00 price target on shares of Micron Technology in a research report on Thursday, April 4th. One analyst has rated the stock with a sell rating, two have given a hold rating and twenty-four have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $122.20.

Micron Technology Price Performance

Micron Technology stock traded down $5.16 during trading hours on Friday, reaching $106.77. 33,787,517 shares of the stock were exchanged, compared to its average volume of 28,269,370. The company has a market cap of $118.23 billion, a P/E ratio of -30.95 and a beta of 1.27. The company has a current ratio of 3.74, a quick ratio of 2.40 and a debt-to-equity ratio of 0.30. Micron Technology, Inc. has a twelve month low of $58.03 and a twelve month high of $130.54. The stock has a 50 day moving average of $102.95 and a two-hundred day moving average of $86.93.

Micron Technology (NASDAQ:MU - Get Free Report) last posted its earnings results on Wednesday, March 20th. The semiconductor manufacturer reported $0.42 EPS for the quarter, topping analysts' consensus estimates of ($0.27) by $0.69. The firm had revenue of $5.82 billion during the quarter, compared to analysts' expectations of $5.35 billion. Micron Technology had a negative net margin of 20.57% and a negative return on equity of 8.98%. The business's revenue for the quarter was up 57.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($2.03) earnings per share. Equities analysts expect that Micron Technology, Inc. will post 0.24 EPS for the current fiscal year.

Micron Technology Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 16th. Stockholders of record on Monday, April 1st were issued a $0.115 dividend. The ex-dividend date was Thursday, March 28th. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.43%. Micron Technology's dividend payout ratio (DPR) is currently -13.33%.

Insider Transactions at Micron Technology

In related news, CEO Sanjay Mehrotra sold 45,000 shares of the firm's stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of $130.00, for a total value of $5,850,000.00. Following the completion of the transaction, the chief executive officer now owns 728,557 shares in the company, valued at approximately $94,712,410. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, CEO Sanjay Mehrotra sold 45,000 shares of the firm's stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of $130.00, for a total value of $5,850,000.00. Following the completion of the transaction, the chief executive officer now owns 728,557 shares in the company, valued at approximately $94,712,410. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP April S. Arnzen sold 4,890 shares of the firm's stock in a transaction that occurred on Wednesday, March 27th. The shares were sold at an average price of $119.30, for a total transaction of $583,377.00. Following the completion of the transaction, the executive vice president now owns 148,817 shares of the company's stock, valued at approximately $17,753,868.10. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 313,890 shares of company stock valued at $33,617,027. 0.32% 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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