Paradigm Asset Management Co. LLC Increases Stake in Micron Technology, Inc. (NASDAQ:MU)

Paradigm Asset Management Co. LLC increased its position in shares of Micron Technology, Inc. (NASDAQ:MU) by 811.1% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 16,400 shares of the semiconductor manufacturer’s stock after purchasing an additional 14,600 shares during the period. Paradigm Asset Management Co. LLC’s holdings in Micron Technology were worth $1,380,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in MU. Stonebrook Private Inc. raised its stake in shares of Micron Technology by 4.2% during the 3rd quarter. Stonebrook Private Inc. now owns 2,454 shares of the semiconductor manufacturer’s stock worth $255,000 after buying an additional 98 shares during the period. John G Ullman & Associates Inc. raised its stake in shares of Micron Technology by 2.5% during the 3rd quarter. John G Ullman & Associates Inc. now owns 4,063 shares of the semiconductor manufacturer’s stock worth $421,000 after buying an additional 100 shares during the period. Trivant Custom Portfolio Group LLC raised its stake in shares of Micron Technology by 20.0% during the 4th quarter. Trivant Custom Portfolio Group LLC now owns 600 shares of the semiconductor manufacturer’s stock worth $50,000 after buying an additional 100 shares during the period. PDS Planning Inc raised its stake in shares of Micron Technology by 2.4% during the 3rd quarter. PDS Planning Inc now owns 4,382 shares of the semiconductor manufacturer’s stock worth $454,000 after buying an additional 104 shares during the period. Finally, Lebenthal Global Advisors LLC raised its stake in shares of Micron Technology by 1.5% during the 4th quarter. Lebenthal Global Advisors LLC now owns 7,474 shares of the semiconductor manufacturer’s stock worth $629,000 after buying an additional 114 shares during the period. Hedge funds and other institutional investors own 80.84% of the company’s stock.

Wall Street Analyst Weigh In

MU has been the subject of several research reports. Barclays dropped their price target on Micron Technology from $145.00 to $110.00 and set an “overweight” rating for the company in a research report on Friday, December 20th. Wells Fargo & Company dropped their price target on Micron Technology from $175.00 to $140.00 and set an “overweight” rating for the company in a research report on Thursday, December 19th. Bank of America cut Micron Technology from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $125.00 to $110.00 in a research report on Thursday, December 19th. Sanford C. Bernstein dropped their price target on Micron Technology from $140.00 to $120.00 and set an “outperform” rating for the company in a research report on Wednesday, December 18th. Finally, Piper Sandler dropped their target price on Micron Technology from $150.00 to $120.00 and set an “overweight” rating for the company in a report on Thursday, December 19th. One analyst has rated the stock with a sell rating, three have given a hold rating and twenty-three have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $134.96.

Micron Technology Trading Down 1.0 %

MU opened at $103.28 on Friday. Micron Technology, Inc. has a one year low of $79.94 and a one year high of $157.54. The company has a market cap of $115.07 billion, a P/E ratio of 29.76 and a beta of 1.18. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.75 and a current ratio of 2.72. The business’s 50-day simple moving average is $96.35 and its 200-day simple moving average is $98.70.

Micron Technology (NASDAQ:MU) last released its quarterly earnings data on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 EPS for the quarter, beating analysts’ consensus estimates of $1.60 by $0.19. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. The business had revenue of $8.71 billion for the quarter, compared to the consensus estimate of $8.71 billion. During the same quarter in the prior year, the business posted ($0.95) EPS. The business’s revenue for the quarter was up 84.3% on a year-over-year basis. As a group, equities research analysts expect that Micron Technology, Inc. will post 6.08 EPS for the current fiscal year.

Micron Technology Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Monday, December 30th were paid a dividend of $0.115 per share. The ex-dividend date was Monday, December 30th. This represents a $0.46 dividend on an annualized basis and a yield of 0.45%. Micron Technology’s dividend payout ratio is presently 13.26%.

Insider Buying and Selling

In related news, EVP April S. Arnzen sold 4,890 shares of the firm’s stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $85.21, for a total transaction of $416,676.90. Following the transaction, the executive vice president now owns 181,223 shares in the company, valued at $15,442,011.83. This trade represents a 2.63 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.30% of the stock is currently owned by company 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.