Amalgamated Bank Sells 24,044 Shares of Micron Technology, Inc. (NASDAQ:MU)

Amalgamated Bank decreased its stake in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 8.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 268,963 shares of the semiconductor manufacturer's stock after selling 24,044 shares during the quarter. Amalgamated Bank's holdings in Micron Technology were worth $22,953,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. OFI Invest Asset Management bought a new stake in Micron Technology during the 3rd quarter valued at approximately $27,000. Annis Gardner Whiting Capital Advisors LLC purchased a new position in Micron Technology during the 3rd quarter valued at $28,000. VisionPoint Advisory Group LLC boosted its holdings in Micron Technology by 68.3% during the 3rd quarter. VisionPoint Advisory Group LLC now owns 488 shares of the semiconductor manufacturer's stock valued at $33,000 after acquiring an additional 198 shares during the period. Cape Investment Advisory Inc. boosted its holdings in Micron Technology by 51.0% during the 3rd quarter. Cape Investment Advisory Inc. now owns 592 shares of the semiconductor manufacturer's stock valued at $40,000 after acquiring an additional 200 shares during the period. Finally, Clear Street Markets LLC boosted its holdings in Micron Technology by 67.5% during the 3rd quarter. Clear Street Markets LLC now owns 623 shares of the semiconductor manufacturer's stock valued at $42,000 after acquiring an additional 251 shares during the period. Institutional investors own 80.84% of the company's stock.

Micron Technology Trading Up 2.1 %

Micron Technology stock traded up $2.37 during mid-day trading on Friday, hitting $114.70. The company's stock had a trading volume of 15,556,356 shares, compared to its average volume of 20,261,770. Micron Technology, Inc. has a 1 year low of $59.55 and a 1 year high of $130.54. The stock's fifty day moving average is $108.38 and its two-hundred day moving average is $89.36. The firm has a market capitalization of $127.02 billion, a PE ratio of -33.25 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 (NASDAQ:MU - Get Free Report) last released its earnings results on Wednesday, March 20th. The semiconductor manufacturer reported $0.42 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.27) by $0.69. The firm had revenue of $5.82 billion during the quarter, compared to analyst estimates of $5.35 billion. Micron Technology had a negative return on equity of 8.98% and a negative net margin of 20.57%. Micron Technology's revenue was up 57.7% compared to the same quarter last year. During the same period last year, the business posted ($2.03) earnings per share. On average, analysts anticipate that Micron Technology, Inc. will post 0.24 EPS for the current year.

Micron Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 16th. Shareholders of record on Monday, April 1st were issued a dividend of $0.115 per share. The ex-dividend date of this dividend was Thursday, March 28th. This represents a $0.46 dividend on an annualized basis and a yield of 0.40%. Micron Technology's payout ratio is currently -13.33%.

Insider Transactions at Micron Technology

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of Micron Technology stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $119.30, for a total transaction of $583,377.00. Following the transaction, the executive vice president now owns 148,817 shares of the company's stock, valued at $17,753,868.10. The transaction was disclosed in a filing with the SEC, which is available at this link. In other news, EVP April S. Arnzen sold 4,890 shares of the stock in a transaction dated 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 sale, the executive vice president now owns 148,817 shares in the company, valued at $17,753,868.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Sanjay Mehrotra sold 7,000 shares of the business's stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $82.03, for a total value of $574,210.00. Following the completion of the transaction, the chief executive officer now owns 788,557 shares in the company, valued at approximately $64,685,330.71. The disclosure for this sale can be found here. In the last quarter, insiders sold 323,890 shares of company stock worth $36,079,267. 0.32% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on MU. Wedbush lifted their target price on Micron Technology from $103.00 to $130.00 and gave the company an "outperform" rating in a research report on Thursday, March 21st. Robert W. Baird boosted their price target on Micron Technology from $78.00 to $115.00 and gave the stock a "neutral" rating in a research report on Tuesday, March 19th. Bank of America boosted their target price on Micron Technology from $120.00 to $144.00 and gave the stock a "buy" rating in a research note on Monday, April 1st. Citigroup restated a "buy" rating and set a $150.00 target price on shares of Micron Technology in a research note on Thursday, April 4th. Finally, Piper Sandler boosted their target price on Micron Technology from $95.00 to $130.00 and gave the stock an "overweight" rating in a research note on Thursday, March 21st. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-four have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $122.20.

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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