Amundi Has $236.02 Million Holdings in Micron Technology, Inc. (NASDAQ:MU)

Amundi lessened its stake in shares of Micron Technology, Inc. (NASDAQ:MU) by 54.3% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 2,804,452 shares of the semiconductor manufacturer’s stock after selling 3,332,468 shares during the quarter. Amundi’s holdings in Micron Technology were worth $236,023,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Harmony Asset Management LLC grew its stake in Micron Technology by 75.6% during the 3rd quarter. Harmony Asset Management LLC now owns 11,889 shares of the semiconductor manufacturer’s stock valued at $1,233,000 after acquiring an additional 5,120 shares in the last quarter. Lazard Freres Gestion S.A.S. grew its stake in Micron Technology by 241.7% during the 3rd quarter. Lazard Freres Gestion S.A.S. now owns 41,000 shares of the semiconductor manufacturer’s stock valued at $4,252,000 after acquiring an additional 29,000 shares in the last quarter. Chartwell Investment Partners LLC lifted its position in Micron Technology by 26.4% in the 3rd quarter. Chartwell Investment Partners LLC now owns 195,115 shares of the semiconductor manufacturer’s stock worth $20,236,000 after buying an additional 40,802 shares in the last quarter. Stablepoint Partners LLC acquired a new stake in shares of Micron Technology during the 4th quarter valued at $569,000. Finally, State Street Corp grew its holdings in shares of Micron Technology by 3.1% during the 3rd quarter. State Street Corp now owns 48,226,710 shares of the semiconductor manufacturer’s stock valued at $5,001,592,000 after acquiring an additional 1,434,568 shares in the last quarter. Institutional investors and hedge funds own 80.84% of the company’s stock.

Wall Street Analysts Forecast Growth

MU has been the subject of several recent research reports. Mizuho cut their price objective on Micron Technology from $135.00 to $115.00 and set an “outperform” rating for the company in a report on Thursday, December 19th. Robert W. Baird cut their price target on Micron Technology from $150.00 to $130.00 and set an “outperform” rating for the company in a research note on Thursday, December 19th. UBS Group lowered their price target on Micron Technology from $135.00 to $125.00 and set a “buy” rating for the company in a research note on Thursday, December 19th. Piper Sandler cut their price objective on shares of Micron Technology from $150.00 to $120.00 and set an “overweight” rating on the stock in a research report on Thursday, December 19th. Finally, Morgan Stanley decreased their target price on shares of Micron Technology from $98.00 to $91.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 28th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $134.96.

Insiders Place Their Bets

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of the company’s stock in a transaction on Friday, December 20th. The shares were 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 in the company, valued at approximately $15,442,011.83. The trade was a 2.63 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Mary Pat Mccarthy sold 2,404 shares of the company’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $92.93, for a total transaction of $223,403.72. Following the sale, the director now owns 27,358 shares of the company’s stock, valued at $2,542,378.94. The trade was a 8.08 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.30% of the company’s stock.

Micron Technology Stock Up 4.1 %

Shares of MU opened at $92.96 on Monday. The company has a market capitalization of $103.57 billion, a P/E ratio of 26.79 and a beta of 1.23. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.72 and a quick ratio of 1.75. Micron Technology, Inc. has a one year low of $83.54 and a one year high of $157.54. The business’s 50 day simple moving average is $95.99 and its 200-day simple moving average is $98.29.

Micron Technology (NASDAQ:MU) last announced its earnings results on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 EPS for the quarter, topping the consensus estimate of $1.60 by $0.19. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. The business 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. Micron Technology’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 6.08 EPS for the current fiscal year.

Micron Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Monday, December 30th were issued a dividend of $0.115 per share. This represents a $0.46 annualized dividend and a yield of 0.49%. The ex-dividend date of this dividend was Monday, December 30th. Micron Technology’s dividend payout ratio is 13.26%.

About Micron Technology

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.