Chevy Chase Trust Holdings LLC Has $49.44 Million Stock Holdings in Micron Technology, Inc. (NASDAQ:MU)

Chevy Chase Trust Holdings LLC decreased its stake in Micron Technology, Inc. (NASDAQ:MU) by 2.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 587,466 shares of the semiconductor manufacturer’s stock after selling 12,453 shares during the period. Chevy Chase Trust Holdings LLC’s holdings in Micron Technology were worth $49,441,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Banque Pictet & Cie SA increased its stake in shares of Micron Technology by 21.8% in the fourth quarter. Banque Pictet & Cie SA now owns 116,700 shares of the semiconductor manufacturer’s stock valued at $9,821,000 after buying an additional 20,865 shares during the period. V Square Quantitative Management LLC boosted its position in shares of Micron Technology by 14.6% during the 4th quarter. V Square Quantitative Management LLC now owns 20,110 shares of the semiconductor manufacturer’s stock valued at $1,692,000 after purchasing an additional 2,560 shares in the last quarter. Bright Futures Wealth Management LLC. bought a new stake in shares of Micron Technology during the 4th quarter valued at about $225,000. Vontobel Holding Ltd. boosted its position in shares of Micron Technology by 44.3% during the 4th quarter. Vontobel Holding Ltd. now owns 151,188 shares of the semiconductor manufacturer’s stock valued at $12,724,000 after purchasing an additional 46,392 shares in the last quarter. Finally, Bogart Wealth LLC boosted its position in shares of Micron Technology by 142.4% during the 4th quarter. Bogart Wealth LLC now owns 1,428 shares of the semiconductor manufacturer’s stock valued at $120,000 after purchasing an additional 839 shares in the last quarter. Institutional investors and hedge funds own 80.84% of the company’s stock.

Micron Technology Price Performance

Micron Technology stock opened at $95.66 on Friday. Micron Technology, Inc. has a one year low of $79.15 and a one year high of $157.54. The business has a fifty day moving average price of $96.24 and a 200-day moving average price of $98.73. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.72 and a quick ratio of 1.75. The firm has a market capitalization of $106.58 billion, a P/E ratio of 27.57 and a beta of 1.18.

Micron Technology (NASDAQ:MU) last posted its quarterly earnings results on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 EPS for the quarter, topping analysts’ consensus estimates of $1.60 by $0.19. The firm had revenue of $8.71 billion during the quarter, compared to analyst estimates of $8.71 billion. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. The business’s revenue for the quarter was up 84.3% on a year-over-year basis. During the same period last year, the company earned ($0.95) earnings per share. As a group, equities research analysts forecast that Micron Technology, Inc. will post 6.29 EPS for the current year.

Micron Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Monday, December 30th were paid a dividend of $0.115 per share. This represents a $0.46 annualized dividend and a yield of 0.48%. The ex-dividend date was Monday, December 30th. Micron Technology’s dividend payout ratio is 13.26%.

Insider Activity at Micron Technology

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of Micron Technology stock in a transaction dated 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 sale, the executive vice president now owns 181,223 shares of the company’s stock, valued at $15,442,011.83. The trade was a 2.63 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.30% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on MU. Stifel Nicolaus cut their target price on Micron Technology from $135.00 to $130.00 and set a “buy” rating on the stock in a research report on Thursday, December 19th. UBS Group cut their target price on Micron Technology from $135.00 to $125.00 and set a “buy” rating on the stock in a research report on Thursday, December 19th. Needham & Company LLC cut their price target on Micron Technology from $140.00 to $120.00 and set a “buy” rating on the stock in a report on Thursday, December 19th. Piper Sandler cut their price target on Micron Technology from $150.00 to $120.00 and set an “overweight” rating on the stock in a report on Thursday, December 19th. Finally, Robert W. Baird cut their price target on Micron Technology from $150.00 to $130.00 and set an “outperform” rating on the stock in a report on Thursday, December 19th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-three have given a buy rating to the company’s stock. Based on data from MarketBeat, Micron Technology presently has an average rating of “Moderate Buy” and a consensus target price of $134.96.

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.