Financial Perspectives Inc Acquires 204 Shares of Micron Technology, Inc. (NASDAQ:MU)

Financial Perspectives Inc boosted its holdings in Micron Technology, Inc. (NASDAQ:MU) by 7.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,104 shares of the semiconductor manufacturer’s stock after purchasing an additional 204 shares during the period. Financial Perspectives Inc’s holdings in Micron Technology were worth $265,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in MU. Sandy Spring Bank boosted its stake in Micron Technology by 11.1% during the fourth quarter. Sandy Spring Bank now owns 1,305 shares of the semiconductor manufacturer’s stock worth $111,000 after acquiring an additional 130 shares in the last quarter. HMS Capital Management LLC boosted its position in shares of Micron Technology by 0.7% during the 4th quarter. HMS Capital Management LLC now owns 19,842 shares of the semiconductor manufacturer’s stock worth $1,693,000 after purchasing an additional 138 shares in the last quarter. Huntington National Bank grew its stake in shares of Micron Technology by 6.0% in the 3rd quarter. Huntington National Bank now owns 2,652 shares of the semiconductor manufacturer’s stock valued at $180,000 after buying an additional 149 shares during the period. Allworth Financial LP increased its position in Micron Technology by 3.0% in the 4th quarter. Allworth Financial LP now owns 5,125 shares of the semiconductor manufacturer’s stock valued at $437,000 after buying an additional 150 shares in the last quarter. Finally, Homestead Advisers Corp raised its stake in Micron Technology by 12.5% during the 3rd quarter. Homestead Advisers Corp now owns 1,372 shares of the semiconductor manufacturer’s stock worth $93,000 after buying an additional 152 shares during the period. 80.84% of the stock is currently owned by institutional investors and hedge funds.

Micron Technology Price Performance

Shares of MU traded up $3.34 during trading hours on Tuesday, reaching $112.46. 17,854,605 shares of the company’s stock traded hands, compared to its average volume of 20,590,105. The company has a current ratio of 3.74, a quick ratio of 2.40 and a debt-to-equity ratio of 0.30. The firm’s 50 day simple moving average is $103.42 and its 200-day simple moving average is $87.22. The stock has a market cap of $124.53 billion, a PE ratio of -32.60 and a beta of 1.27. Micron Technology, Inc. has a 12 month low of $58.03 and a 12 month high of $130.54.

Micron Technology (NASDAQ:MU) last issued its quarterly earnings results on Wednesday, March 20th. The semiconductor manufacturer reported $0.42 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.27) by $0.69. The firm had revenue of $5.82 billion during the quarter, compared to analyst estimates of $5.35 billion. Micron Technology had a negative return on equity of 8.98% and a negative net margin of 20.57%. The company’s revenue was up 57.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($2.03) earnings per share. Equities analysts expect that Micron Technology, Inc. will post 0.24 EPS for the current year.

Micron Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 16th. Stockholders of record on Monday, April 1st were issued a $0.115 dividend. The ex-dividend date of this dividend was Thursday, March 28th. This represents a $0.46 annualized dividend and a dividend yield of 0.41%. Micron Technology’s dividend payout ratio is currently -13.33%.

Insider Activity at Micron Technology

In related news, CEO Sanjay Mehrotra sold 45,000 shares of Micron Technology stock in a transaction on Thursday, January 25th. The shares were sold at an average price of $90.00, for a total value of $4,050,000.00. Following the transaction, the chief executive officer now directly owns 788,557 shares of the company’s stock, valued at $70,970,130. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, EVP April S. Arnzen sold 4,890 shares of the firm’s stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $119.30, for a total value of $583,377.00. Following the completion of the sale, the executive vice president now owns 148,817 shares of the company’s stock, valued at $17,753,868.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Sanjay Mehrotra sold 45,000 shares of the business’s stock in a transaction on Thursday, January 25th. The shares were sold at an average price of $90.00, for a total transaction of $4,050,000.00. Following the transaction, the chief executive officer now directly owns 788,557 shares in the company, valued at $70,970,130. The disclosure for this sale can be found here. Insiders sold 306,890 shares of company stock worth $33,005,157 in the last ninety days. 0.32% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Piper Sandler upped their target price on shares of Micron Technology from $95.00 to $130.00 and gave the stock an “overweight” rating in a report on Thursday, March 21st. Bank of America lifted their target price on Micron Technology from $120.00 to $144.00 and gave the company a “buy” rating in a research report on Monday, April 1st. Citigroup reissued a “buy” rating and issued a $150.00 price target on shares of Micron Technology in a research report on Thursday, April 4th. Mizuho lifted their price objective on shares of Micron Technology from $105.00 to $124.00 and gave the stock a “buy” rating in a report on Thursday, March 21st. Finally, Needham & Company LLC increased their target price on shares of Micron Technology from $100.00 to $120.00 and gave the company a “buy” rating in a report on Thursday, March 21st. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-four have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $122.20.

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.