Micron Technology, Inc. (NASDAQ:MU) Shares Sold by Faithward Advisors LLC

Faithward Advisors LLC decreased its holdings in Micron Technology, Inc. (NASDAQ:MU) by 1.7% in the fourth quarter, Holdings Channel reports. The fund owned 9,865 shares of the semiconductor manufacturer’s stock after selling 174 shares during the period. Faithward Advisors LLC’s holdings in Micron Technology were worth $830,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of the business. Vanguard Group Inc. increased its holdings in shares of Micron Technology by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 99,857,205 shares of the semiconductor manufacturer’s stock valued at $8,403,982,000 after purchasing an additional 888,087 shares during the last quarter. FMR LLC increased its stake in shares of Micron Technology by 34.6% in the 4th quarter. FMR LLC now owns 47,672,462 shares of the semiconductor manufacturer’s stock worth $4,012,114,000 after acquiring an additional 12,249,341 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Micron Technology by 3.1% in the 4th quarter. Geode Capital Management LLC now owns 24,449,827 shares of the semiconductor manufacturer’s stock worth $2,052,973,000 after acquiring an additional 726,282 shares during the last quarter. Norges Bank purchased a new position in shares of Micron Technology during the 4th quarter worth $1,470,875,000. Finally, Invesco Ltd. boosted its position in shares of Micron Technology by 1.7% during the 4th quarter. Invesco Ltd. now owns 10,207,903 shares of the semiconductor manufacturer’s stock valued at $859,097,000 after acquiring an additional 175,187 shares during the last quarter. 80.84% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Micron Technology

In other Micron Technology news, EVP April S. Arnzen sold 15,000 shares of Micron Technology stock in a transaction on Tuesday, March 25th. The shares were sold at an average price of $96.18, for a total value of $1,442,700.00. Following the transaction, the executive vice president now directly owns 164,769 shares in the company, valued at approximately $15,847,482.42. The trade was a 8.34 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Mary Pat Mccarthy sold 2,404 shares of the stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $92.93, for a total transaction of $223,403.72. Following the sale, the director now owns 27,358 shares of the company’s stock, valued at $2,542,378.94. This trade represents a 8.08 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.30% of the company’s stock.

Micron Technology Price Performance

MU stock opened at $68.37 on Tuesday. The business has a 50 day moving average price of $92.96 and a 200 day moving average price of $98.09. The company has a quick ratio of 1.75, a current ratio of 2.72 and a debt-to-equity ratio of 0.28. The stock has a market cap of $76.41 billion, a price-to-earnings ratio of 19.70 and a beta of 1.18. Micron Technology, Inc. has a fifty-two week low of $61.54 and a fifty-two week high of $157.54.

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

Micron Technology Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be given a $0.115 dividend. The ex-dividend date is Monday, March 31st. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.67%. Micron Technology’s dividend payout ratio (DPR) is presently 11.03%.

Analysts Set New Price Targets

A number of equities analysts have commented on MU shares. China Renaissance downgraded shares of Micron Technology from a “buy” rating to a “hold” rating and set a $84.00 target price on the stock. in a research note on Wednesday, March 26th. Bank of America lowered shares of Micron Technology from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $125.00 to $110.00 in a report on Thursday, December 19th. Rosenblatt Securities lowered their target price on shares of Micron Technology from $250.00 to $200.00 and set a “buy” rating for the company in a research note on Friday, March 21st. Piper Sandler decreased their price objective on shares of Micron Technology from $150.00 to $120.00 and set an “overweight” rating on the stock in a report on Thursday, December 19th. Finally, Mizuho dropped their target price on shares of Micron Technology from $135.00 to $115.00 and set an “outperform” 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, twenty have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $129.76.

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.