Micron Technology, Inc. (NASDAQ:MU) Shares Bought by Natixis Advisors LLC

Natixis Advisors LLC boosted its stake in shares of Micron Technology, Inc. (NASDAQ:MU) by 9.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 452,301 shares of the semiconductor manufacturer’s stock after buying an additional 38,435 shares during the period. Natixis Advisors LLC’s holdings in Micron Technology were worth $38,066,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in MU. Harmony Asset Management LLC lifted its stake in shares of Micron Technology by 75.6% in the 3rd quarter. Harmony Asset Management LLC now owns 11,889 shares of the semiconductor manufacturer’s stock valued at $1,233,000 after purchasing an additional 5,120 shares during the last quarter. Lazard Freres Gestion S.A.S. lifted its stake in shares of Micron Technology by 241.7% in 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 purchasing an additional 29,000 shares during the last quarter. E Fund Management Co. Ltd. lifted its stake in shares of Micron Technology by 31.8% in the 4th quarter. E Fund Management Co. Ltd. now owns 36,378 shares of the semiconductor manufacturer’s stock valued at $3,062,000 after purchasing an additional 8,780 shares during the last quarter. Stablepoint Partners LLC acquired a new position in shares of Micron Technology in the 4th quarter valued at $569,000. Finally, State Street Corp lifted its stake in shares of Micron Technology by 3.1% in 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 purchasing an additional 1,434,568 shares during the last quarter. Institutional investors and hedge funds own 80.84% of the company’s stock.

Micron Technology Stock Up 6.2 %

Shares of NASDAQ MU opened at $100.79 on Monday. The stock has a market cap of $112.30 billion, a PE ratio of 29.05 and a beta of 1.23. The company has a quick ratio of 1.75, a current ratio of 2.72 and a debt-to-equity ratio of 0.28. Micron Technology, Inc. has a 52-week low of $83.54 and a 52-week high of $157.54. The business has a 50-day moving average price of $96.72 and a 200 day moving average price of $98.07.

Micron Technology (NASDAQ:MU) last announced its earnings results 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. The firm had revenue of $8.71 billion during the quarter, compared to analysts’ expectations 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 was up 84.3% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.95) EPS. Equities research analysts forecast that Micron Technology, Inc. will post 6.08 earnings per share for the current year.

Micron Technology Announces Dividend

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

Analyst Upgrades and Downgrades

MU has been the topic of several research analyst reports. The Goldman Sachs Group cut their price objective on Micron Technology from $145.00 to $128.00 and set a “buy” rating on the stock in a report on Thursday, December 19th. Barclays cut their price objective on Micron Technology from $145.00 to $110.00 and set an “overweight” rating on the stock in a report on Friday, December 20th. Morgan Stanley cut their price objective on Micron Technology from $98.00 to $91.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 28th. Wedbush reiterated an “outperform” rating and issued a $140.00 price objective on shares of Micron Technology in a report on Tuesday, December 17th. Finally, Piper Sandler cut their price objective on Micron Technology from $150.00 to $120.00 and set an “overweight” rating on the stock in a report on Thursday, December 19th. One investment 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 assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $134.56.

Insiders Place Their Bets

In other Micron Technology news, Director Mary Pat Mccarthy sold 2,404 shares of the stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $92.93, for a total transaction of $223,403.72. Following the completion of the sale, the director now directly owns 27,358 shares of the company’s stock, valued at approximately $2,542,378.94. This trade represents a 8.08 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP April S. Arnzen sold 4,890 shares of the firm’s stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $85.21, for a total value of $416,676.90. Following the completion of the sale, the executive vice president now directly owns 181,223 shares of the company’s stock, valued at $15,442,011.83. This represents a 2.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.30% of the stock is owned by insiders.

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.