Corebridge Financial Inc. Has $29.27 Million Stock Holdings in Micron Technology, Inc. (NASDAQ:MU)

Corebridge Financial Inc. lowered its holdings in shares of Micron Technology, Inc. (NASDAQ:MU) by 3.4% in the 4th quarter, HoldingsChannel reports. The firm owned 347,806 shares of the semiconductor manufacturer’s stock after selling 12,287 shares during the period. Corebridge Financial Inc.’s holdings in Micron Technology were worth $29,271,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Swedbank AB grew its position in shares of Micron Technology by 30.4% during the 3rd quarter. Swedbank AB now owns 3,455,819 shares of the semiconductor manufacturer’s stock worth $358,403,000 after buying an additional 806,639 shares during the period. Jennison Associates LLC bought a new position in Micron Technology during the third quarter worth $1,114,000. Meridian Wealth Management LLC acquired a new stake in Micron Technology in the third quarter worth $730,000. Stonebrook Private Inc. increased its stake in Micron Technology by 4.2% in the third quarter. Stonebrook Private Inc. now owns 2,454 shares of the semiconductor manufacturer’s stock valued at $255,000 after purchasing an additional 98 shares in the last quarter. Finally, Great Valley Advisor Group Inc. raised its holdings in shares of Micron Technology by 31.0% during the third quarter. Great Valley Advisor Group Inc. now owns 12,357 shares of the semiconductor manufacturer’s stock valued at $1,282,000 after purchasing an additional 2,926 shares during the period. 80.84% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently commented on MU. Morgan Stanley raised their target price on Micron Technology from $91.00 to $112.00 and gave the company an “equal weight” rating in a research note on Friday. TD Cowen reduced their price objective on Micron Technology from $135.00 to $125.00 and set a “buy” rating for the company in a research note on Thursday, December 19th. JPMorgan Chase & Co. lowered their target price on Micron Technology from $145.00 to $135.00 and set an “overweight” rating on the stock in a research report on Friday. Stifel Nicolaus reduced their price target on shares of Micron Technology from $135.00 to $130.00 and set a “buy” rating for the company in a research report on Thursday, December 19th. Finally, The Goldman Sachs Group decreased their price target on shares of Micron Technology from $145.00 to $128.00 and set a “buy” rating for the company in a research note on Thursday, December 19th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $132.63.

Micron Technology Stock Performance

Shares of Micron Technology stock opened at $94.72 on Monday. The firm has a market capitalization of $105.53 billion, a P/E ratio of 27.30 and a beta of 1.23. The company has a current ratio of 2.72, a quick ratio of 1.75 and a debt-to-equity ratio of 0.28. The business’s fifty day simple moving average is $96.82 and its 200 day simple moving average is $98.34. Micron Technology, Inc. has a 12 month low of $83.54 and a 12 month high of $157.54.

Micron Technology (NASDAQ:MU) last issued its quarterly earnings results on Thursday, March 20th. The semiconductor manufacturer reported $1.56 earnings per share for the quarter, topping analysts’ consensus estimates of $1.43 by $0.13. Micron Technology had a net margin of 13.34% and a return on equity of 8.32%. The company had revenue of $8.05 billion for the quarter, compared to the consensus estimate of $7.93 billion. During the same period in the previous year, the firm earned $0.42 EPS. The firm’s quarterly revenue was up 38.2% on a year-over-year basis. As a group, analysts anticipate that Micron Technology, Inc. will post 6.08 EPS for the current year.

Micron Technology Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be paid a dividend of $0.115 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.46 annualized dividend and a dividend yield of 0.49%. Micron Technology’s payout ratio is currently 11.03%.

Insider Buying and Selling

In other Micron Technology news, Director Mary Pat Mccarthy sold 2,404 shares of the stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $92.93, for a total transaction of $223,403.72. Following the completion of the transaction, the director now owns 27,358 shares in the company, valued at $2,542,378.94. This trade represents a 8.08 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.30% of the stock is currently owned by insiders.

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.