Perpetual Ltd cut its position in Micron Technology, Inc. (NASDAQ:MU – Free Report) by 37.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 11,689 shares of the semiconductor manufacturer’s stock after selling 7,131 shares during the quarter. Perpetual Ltd’s holdings in Micron Technology were worth $3,336,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently made changes to their positions in MU. Omnia Family Wealth LLC raised its holdings in Micron Technology by 2.1% in the 4th quarter. Omnia Family Wealth LLC now owns 1,464 shares of the semiconductor manufacturer’s stock valued at $418,000 after buying an additional 30 shares during the last quarter. Sunflower Bank N.A. boosted its position in Micron Technology by 2.1% during the 4th quarter. Sunflower Bank N.A. now owns 1,668 shares of the semiconductor manufacturer’s stock worth $476,000 after buying an additional 34 shares during the period. 1900 Wealth Management LLC grew its holdings in Micron Technology by 2.1% during the 4th quarter. 1900 Wealth Management LLC now owns 1,698 shares of the semiconductor manufacturer’s stock worth $485,000 after acquiring an additional 35 shares during the last quarter. Rialto Wealth Management LLC increased its position in Micron Technology by 3.5% in the 4th quarter. Rialto Wealth Management LLC now owns 1,061 shares of the semiconductor manufacturer’s stock valued at $303,000 after acquiring an additional 36 shares during the period. Finally, Montecito Bank & Trust increased its position in Micron Technology by 0.7% in the 4th quarter. Montecito Bank & Trust now owns 5,487 shares of the semiconductor manufacturer’s stock valued at $1,566,000 after acquiring an additional 40 shares during the period. 80.84% of the stock is currently owned by institutional investors.
Micron Technology News Roundup
Here are the key news stories impacting Micron Technology this week:
Analysts Set New Price Targets
A number of equities analysts have recently commented on the stock. Sanford C. Bernstein lifted their price target on shares of Micron Technology from $330.00 to $510.00 and gave the stock an “outperform” rating in a report on Wednesday, March 18th. Citigroup lowered their target price on Micron Technology from $510.00 to $425.00 and set a “buy” rating for the company in a research report on Tuesday, March 31st. Barclays lifted their target price on Micron Technology from $450.00 to $675.00 and gave the stock an “overweight” rating in a report on Thursday, March 19th. KeyCorp upped their price target on Micron Technology from $450.00 to $600.00 and gave the company an “overweight” rating in a research report on Thursday, March 19th. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Micron Technology in a research note on Thursday, January 29th. Five analysts have rated the stock with a Strong Buy rating, twenty-eight have issued a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $463.71.
Check Out Our Latest Stock Analysis on Micron Technology
Micron Technology Price Performance
Shares of NASDAQ MU opened at $366.24 on Friday. The company has a market capitalization of $413.02 billion, a PE ratio of 17.29 and a beta of 1.60. The company has a quick ratio of 2.32, a current ratio of 2.90 and a debt-to-equity ratio of 0.13. Micron Technology, Inc. has a twelve month low of $61.54 and a twelve month high of $471.34. The firm has a fifty day simple moving average of $403.11 and a 200 day simple moving average of $299.91.
Micron Technology Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Monday, March 30th will be given a $0.15 dividend. This is a boost from Micron Technology’s previous quarterly dividend of $0.12. The ex-dividend date of this dividend is Monday, March 30th. This represents a $0.60 annualized dividend and a dividend yield of 0.2%. Micron Technology’s dividend payout ratio is 2.83%.
Insider Buying and Selling
In related news, EVP Manish H. Bhatia sold 26,623 shares of the company’s stock in a transaction dated Thursday, January 22nd. The stock was sold at an average price of $391.04, for a total transaction of $10,410,657.92. Following the sale, the executive vice president owned 323,486 shares in the company, valued at $126,495,965.44. This represents a 7.60% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Sumit Sadana sold 25,000 shares of the firm’s stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $429.89, for a total value of $10,747,250.00. Following the sale, the executive vice president directly owned 248,021 shares of the company’s stock, valued at $106,621,747.69. This represents a 9.16% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders acquired 23,200 shares of company stock worth $7,821,723 and sold 93,623 shares worth $35,728,508. 0.24% of the stock is owned by company insiders.
About Micron Technology
Micron Technology, Inc is a global semiconductor company that designs and manufactures memory and storage solutions. Its product portfolio includes dynamic random-access memory (DRAM), NAND flash memory, solid-state drives (SSDs), memory modules and embedded memory solutions for a wide range of computing and electronic devices. Micron supplies components used in data centers, enterprise and cloud infrastructure, client computing, mobile devices, automotive systems and industrial applications, and also markets consumer-facing products under the Crucial brand.
Founded in 1978 and headquartered in Boise, Idaho, Micron has grown into an international manufacturer with research, development and production facilities across multiple regions.
See Also
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