Micron Technology, Inc. (NASDAQ:MU) Shares Bought by Kentucky Retirement Systems Insurance Trust Fund

Kentucky Retirement Systems Insurance Trust Fund grew its stake in shares of Micron Technology, Inc. (NASDAQ:MU) by 13.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 37,249 shares of the semiconductor manufacturer’s stock after purchasing an additional 4,419 shares during the quarter. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Micron Technology were worth $3,135,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in MU. Atria Wealth Solutions Inc. increased its holdings in shares of Micron Technology by 2.4% in the 4th quarter. Atria Wealth Solutions Inc. now owns 65,689 shares of the semiconductor manufacturer’s stock valued at $5,530,000 after acquiring an additional 1,515 shares during the period. Venturi Wealth Management LLC increased its holdings in shares of Micron Technology by 4.9% in the 4th quarter. Venturi Wealth Management LLC now owns 116,954 shares of the semiconductor manufacturer’s stock valued at $9,843,000 after acquiring an additional 5,496 shares during the period. Empower Advisory Group LLC increased its holdings in shares of Micron Technology by 5.9% in the 4th quarter. Empower Advisory Group LLC now owns 2,846 shares of the semiconductor manufacturer’s stock valued at $240,000 after acquiring an additional 158 shares during the period. CIBC Asset Management Inc increased its holdings in shares of Micron Technology by 3.3% in the 4th quarter. CIBC Asset Management Inc now owns 357,035 shares of the semiconductor manufacturer’s stock valued at $30,048,000 after acquiring an additional 11,473 shares during the period. Finally, Woodard & Co. Asset Management Group Inc. ADV increased its holdings in shares of Micron Technology by 66.8% in the 4th quarter. Woodard & Co. Asset Management Group Inc. ADV now owns 14,571 shares of the semiconductor manufacturer’s stock valued at $1,226,000 after acquiring an additional 5,833 shares during the period. Institutional investors and hedge funds own 80.84% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have commented on MU shares. TD Cowen decreased their target price on shares of Micron Technology from $135.00 to $125.00 and set a “buy” rating on the stock in a research report on Thursday, December 19th. Bank of America lowered shares of Micron Technology from a “buy” rating to a “neutral” rating and reduced their target price for the company from $125.00 to $110.00 in a report on Thursday, December 19th. Piper Sandler reduced their target price 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. Wedbush reaffirmed an “outperform” rating and set a $140.00 price objective on shares of Micron Technology in a research note on Tuesday, December 17th. Finally, Barclays dropped their price objective on shares of Micron Technology from $145.00 to $110.00 and set an “overweight” rating for the company in a research note on Friday, December 20th. One analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-three have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $134.96.

Insider Activity

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of the stock in a transaction on Friday, December 20th. The stock was sold at an average price of $85.21, for a total transaction of $416,676.90. Following the completion of the transaction, the executive vice president now directly owns 181,223 shares of the company’s stock, valued at approximately $15,442,011.83. This represents a 2.63 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.30% of the stock is currently owned by corporate insiders.

Micron Technology Trading Up 4.0 %

Shares of MU stock opened at $99.52 on Tuesday. The firm has a market capitalization of $110.88 billion, a P/E ratio of 28.68 and a beta of 1.18. Micron Technology, Inc. has a twelve month low of $79.15 and a twelve month high of $157.54. 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’s fifty day simple moving average is $96.10 and its 200 day simple moving average is $98.54.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings data on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.60 by $0.19. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. The company had revenue of $8.71 billion for the quarter, compared to the consensus estimate of $8.71 billion. During the same period in the previous year, the business earned ($0.95) EPS. The firm’s revenue was up 84.3% compared to the same quarter last year. As a group, sell-side analysts predict that Micron Technology, Inc. will post 6.29 EPS for the current fiscal year.

Micron Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Monday, December 30th were issued a $0.115 dividend. This represents a $0.46 annualized dividend and a dividend yield of 0.46%. The ex-dividend date was Monday, December 30th. Micron Technology’s dividend payout ratio is presently 13.26%.

Micron Technology Company 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.