Micron Technology, Inc. (NASDAQ:MU) Shares Sold by Yousif Capital Management LLC

Yousif Capital Management LLC lessened its position in shares of Micron Technology, Inc. (NASDAQ:MU) by 4.4% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 164,965 shares of the semiconductor manufacturer’s stock after selling 7,676 shares during the quarter. Yousif Capital Management LLC’s holdings in Micron Technology were worth $14,078,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Financial Perspectives Inc lifted its position in shares of Micron Technology by 7.0% during the 4th quarter. Financial Perspectives Inc now owns 3,104 shares of the semiconductor manufacturer’s stock valued at $265,000 after buying an additional 204 shares in the last quarter. GAMMA Investing LLC purchased a new position in Micron Technology during the fourth quarter valued at $709,000. California Public Employees Retirement System increased its stake in shares of Micron Technology by 125.0% during the fourth quarter. California Public Employees Retirement System now owns 4,541,662 shares of the semiconductor manufacturer’s stock worth $387,585,000 after purchasing an additional 2,523,267 shares in the last quarter. Duality Advisers LP acquired a new position in shares of Micron Technology during the 4th quarter worth about $5,623,000. Finally, Commerzbank Aktiengesellschaft FI acquired a new position in shares of Micron Technology during the 4th quarter worth about $398,000. Hedge funds and other institutional investors own 80.84% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. TD Cowen upped their target price on shares of Micron Technology from $120.00 to $150.00 and gave the stock an “outperform” rating in a report on Thursday, March 21st. Raymond James upped their price target on Micron Technology from $90.00 to $100.00 and gave the company an “outperform” rating in a research report on Friday, January 19th. Citigroup reiterated a “buy” rating and set a $150.00 price objective on shares of Micron Technology in a research report on Thursday, April 4th. Piper Sandler upped their target price on Micron Technology from $95.00 to $130.00 and gave the company an “overweight” rating in a report on Thursday, March 21st. Finally, Morgan Stanley lifted their price target on Micron Technology from $78.00 to $98.00 and gave the stock an “underweight” rating in a report on Thursday, March 21st. One analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $122.20.

Micron Technology Stock Performance

NASDAQ MU traded down $1.05 during trading on Wednesday, reaching $111.41. The company’s stock had a trading volume of 15,176,353 shares, compared to its average volume of 20,514,488. Micron Technology, Inc. has a twelve month low of $58.03 and a twelve month high of $130.54. The firm has a market cap of $123.37 billion, a price-to-earnings ratio of -32.29 and a beta of 1.27. The business’s fifty day moving average price is $104.04 and its 200-day moving average price is $87.52. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.40 and a current ratio of 3.74.

Micron Technology (NASDAQ:MU) last posted its quarterly earnings data on Wednesday, March 20th. The semiconductor manufacturer reported $0.42 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.69. Micron Technology had a negative net margin of 20.57% and a negative return on equity of 8.98%. The firm had revenue of $5.82 billion for the quarter, compared to analyst estimates of $5.35 billion. During the same period last year, the firm posted ($2.03) EPS. Micron Technology’s quarterly revenue was up 57.7% on a year-over-year basis. As a group, analysts anticipate that Micron Technology, Inc. will post 0.24 EPS for the current fiscal year.

Micron Technology Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 16th. Shareholders 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 dividend on an annualized basis and a yield of 0.41%. Micron Technology’s dividend payout ratio (DPR) is presently -13.33%.

Insider Activity

In related news, CEO Sanjay Mehrotra sold 7,000 shares of the stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $87.02, for a total value of $609,140.00. Following the sale, the chief executive officer now directly owns 788,557 shares of the company’s stock, valued at approximately $68,620,230.14. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of the stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $119.30, for a total transaction of $583,377.00. Following the transaction, the executive vice president now owns 148,817 shares of the company’s stock, valued at approximately $17,753,868.10. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Sanjay Mehrotra sold 7,000 shares of the stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $87.02, for a total value of $609,140.00. Following the transaction, the chief executive officer now owns 788,557 shares in the company, valued at $68,620,230.14. The disclosure for this sale can be found here. In the last three months, insiders sold 306,890 shares of company stock worth $33,005,157. Company insiders own 0.32% of the company’s stock.

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.