Altshuler Shaham Ltd Increases Holdings in Micron Technology, Inc. (NASDAQ:MU)

Altshuler Shaham Ltd grew its holdings in shares of Micron Technology, Inc. (NASDAQ:MU) by 0.2% in the fourth quarter, HoldingsChannel.com reports. The fund owned 1,872,328 shares of the semiconductor manufacturer’s stock after purchasing an additional 4,115 shares during the period. Micron Technology accounts for about 5.3% of Altshuler Shaham Ltd’s investment portfolio, making the stock its 8th largest holding. Altshuler Shaham Ltd’s holdings in Micron Technology were worth $157,575,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Beacon Capital Management LLC lifted its stake in Micron Technology by 114.9% during the fourth quarter. Beacon Capital Management LLC now owns 374 shares of the semiconductor manufacturer’s stock worth $31,000 after purchasing an additional 200 shares during the last quarter. Midwest Capital Advisors LLC purchased a new position in shares of Micron Technology during the 4th quarter valued at about $33,000. Comprehensive Financial Planning Inc. PA bought a new stake in Micron Technology in the 4th quarter worth approximately $34,000. Curio Wealth LLC purchased a new stake in Micron Technology in the fourth quarter worth approximately $34,000. Finally, Activest Wealth Management grew its position in Micron Technology by 583.3% during the fourth quarter. Activest Wealth Management now owns 410 shares of the semiconductor manufacturer’s stock valued at $34,000 after acquiring an additional 350 shares during the last quarter. Hedge funds and other institutional investors own 80.84% of the company’s stock.

Insider Buying and Selling

In other Micron Technology news, Director Mary Pat Mccarthy sold 2,404 shares of Micron Technology stock in a transaction on Monday, March 3rd. The stock was 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 approximately $2,542,378.94. The trade was a 8.08 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP April S. Arnzen sold 15,000 shares of the stock in a transaction on Tuesday, March 25th. The stock was sold at an average price of $96.18, for a total value of $1,442,700.00. Following the completion of the sale, the executive vice president now directly owns 164,769 shares in the company, valued at approximately $15,847,482.42. This represents a 8.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.30% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

MU has been the subject of a number of recent research reports. China Renaissance lowered shares of Micron Technology from a “buy” rating to a “hold” rating and set a $84.00 price objective for the company. in a report on Wednesday, March 26th. Sanford C. Bernstein lowered their price target on shares of Micron Technology from $140.00 to $120.00 and set an “outperform” rating for the company in a research note on Wednesday, December 18th. Wedbush restated an “outperform” rating and set a $125.00 price target on shares of Micron Technology in a research report on Monday, March 17th. Rosenblatt Securities decreased their price objective on Micron Technology from $250.00 to $200.00 and set a “buy” rating on the stock in a report on Friday, March 21st. Finally, TD Cowen dropped their target price on Micron Technology from $135.00 to $125.00 and set a “buy” rating for the company in a report on Thursday, December 19th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $129.36.

Micron Technology Stock Down 2.4 %

MU stock opened at $69.33 on Thursday. Micron Technology, Inc. has a fifty-two week low of $61.54 and a fifty-two week high of $157.54. The company has a market capitalization of $77.48 billion, a price-to-earnings ratio of 19.98 and a beta of 1.18. The business’s 50 day moving average price is $89.28 and its two-hundred day moving average price is $96.38. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.75 and a current ratio of 2.72.

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 the consensus estimate of $1.43 by $0.13. The company had revenue of $8.05 billion for the quarter, compared to analysts’ expectations of $7.93 billion. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. The firm’s revenue for the quarter was up 38.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.42 earnings per share. As a group, analysts forecast that Micron Technology, Inc. will post 6.08 earnings per share for the current fiscal year.

Micron Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were paid a dividend of $0.115 per share. This represents a $0.46 annualized dividend and a yield of 0.66%. The ex-dividend date was Monday, March 31st. Micron Technology’s payout ratio is currently 11.03%.

About Micron Technology

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.