QRG Capital Management Inc. Acquires 4,376 Shares of Micron Technology, Inc. (NASDAQ:MU)

QRG Capital Management Inc. boosted its holdings in shares of Micron Technology, Inc. (NASDAQ:MU) by 2.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 174,727 shares of the semiconductor manufacturer’s stock after purchasing an additional 4,376 shares during the quarter. QRG Capital Management Inc.’s holdings in Micron Technology were worth $14,705,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Swedbank AB grew its holdings in Micron Technology by 30.4% during the 3rd quarter. Swedbank AB now owns 3,455,819 shares of the semiconductor manufacturer’s stock valued at $358,403,000 after buying an additional 806,639 shares in the last quarter. Highline Wealth Partners LLC purchased a new position in Micron Technology during the 3rd quarter valued at approximately $26,000. Financial Advocates Investment Management grew its holdings in Micron Technology by 2.6% during the 3rd quarter. Financial Advocates Investment Management now owns 5,663 shares of the semiconductor manufacturer’s stock valued at $587,000 after buying an additional 143 shares in the last quarter. Voisard Asset Management Group Inc. purchased a new position in Micron Technology during the 3rd quarter valued at approximately $260,000. Finally, Goldstone Financial Group LLC purchased a new position in Micron Technology during the 3rd quarter valued at approximately $231,000. Institutional investors own 80.84% of the company’s stock.

Insider Transactions at Micron Technology

In related news, EVP April S. Arnzen sold 4,890 shares of the business’s stock in a transaction 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 directly owns 181,223 shares in the company, valued at $15,442,011.83. The trade was a 2.63 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.30% of the company’s stock.

Micron Technology Trading Down 6.0 %

Shares of NASDAQ MU opened at $91.82 on Friday. The firm has a market cap of $102.30 billion, a PE ratio of 26.46 and a beta of 1.18. The company has a quick ratio of 1.75, a current ratio of 2.72 and a debt-to-equity ratio of 0.28. Micron Technology, Inc. has a twelve month low of $83.54 and a twelve month high of $157.54. The business has a fifty day simple moving average of $95.68 and a two-hundred day simple moving average of $98.87.

Micron Technology (NASDAQ:MU) last released its quarterly earnings results on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 EPS for the quarter, topping the consensus estimate of $1.60 by $0.19. The firm had revenue of $8.71 billion during the quarter, compared to analyst estimates of $8.71 billion. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. The business’s revenue for the quarter was up 84.3% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.95) EPS. Analysts expect that Micron Technology, Inc. will post 6.08 earnings per share for the current fiscal year.

Micron Technology Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Monday, December 30th were given a $0.115 dividend. This represents a $0.46 annualized dividend and a dividend yield of 0.50%. The ex-dividend date was Monday, December 30th. Micron Technology’s payout ratio is 13.26%.

Wall Street Analysts Forecast Growth

MU has been the subject of a number of recent research reports. Rosenblatt Securities reiterated a “buy” rating and issued a $250.00 target price on shares of Micron Technology in a report on Wednesday, December 18th. 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. Morgan Stanley dropped their target price on Micron Technology from $98.00 to $91.00 and set an “equal weight” rating for the company in a report on Tuesday, January 28th. Barclays dropped their target price on Micron Technology from $145.00 to $110.00 and set an “overweight” rating for the company in a report on Friday, December 20th. Finally, JPMorgan Chase & Co. dropped their target price on Micron Technology from $180.00 to $145.00 and set an “overweight” rating for the company in a report on Thursday, December 19th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Micron Technology presently has an average rating of “Moderate Buy” and an average price target of $134.96.

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.