Micron Technology, Inc. (NASDAQ:MU) Shares Purchased by GAMMA Investing LLC

GAMMA Investing LLC increased its position in shares of Micron Technology, Inc. (NASDAQ:MU) by 14.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 17,894 shares of the semiconductor manufacturer’s stock after purchasing an additional 2,295 shares during the period. GAMMA Investing LLC’s holdings in Micron Technology were worth $1,506,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of MU. Harmony Asset Management LLC boosted its position in shares of Micron Technology by 75.6% during the 3rd quarter. Harmony Asset Management LLC now owns 11,889 shares of the semiconductor manufacturer’s stock worth $1,233,000 after purchasing an additional 5,120 shares during the period. 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 worth $4,252,000 after purchasing an additional 29,000 shares in the last quarter. Chartwell Investment Partners LLC increased its holdings in Micron Technology by 26.4% during the 3rd quarter. Chartwell Investment Partners LLC now owns 195,115 shares of the semiconductor manufacturer’s stock worth $20,236,000 after purchasing an additional 40,802 shares during the period. State Street Corp raised its position in 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 in the last quarter. Finally, Global X Japan Co. Ltd. boosted its stake in shares of Micron Technology by 23.1% in the 3rd quarter. Global X Japan Co. Ltd. now owns 51,832 shares of the semiconductor manufacturer’s stock valued at $5,375,000 after buying an additional 9,735 shares during the period. 80.84% of the stock is owned by hedge funds and other institutional investors.

Micron Technology Stock Up 2.9 %

Shares of Micron Technology stock opened at $89.87 on Friday. Micron Technology, Inc. has a one year low of $79.15 and a one year high of $157.54. The company has a market cap of $100.13 billion, a P/E ratio of 132.16 and a beta of 1.18. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.68 and a current ratio of 2.64. The firm has a fifty day moving average of $99.42 and a two-hundred day moving average of $105.69.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings data on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 EPS for the quarter, beating analysts’ consensus estimates of $1.60 by $0.19. Micron Technology had a net margin of 3.10% and a return on equity of 1.58%. The firm had revenue of $8.71 billion during the quarter, compared to the consensus estimate of $8.71 billion. During the same quarter last year, the firm earned ($0.95) earnings per share. The firm’s revenue was up 84.3% compared to the same quarter last year. On average, analysts forecast that Micron Technology, Inc. will post 8.31 earnings per share for the current year.

Micron Technology Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Monday, December 30th will be paid a dividend of $0.115 per share. The ex-dividend date is Monday, December 30th. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.51%. Micron Technology’s dividend payout ratio (DPR) is presently 13.26%.

Insider Buying and Selling at Micron Technology

In related news, EVP April S. Arnzen sold 4,890 shares of the business’s stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $85.21, for a total value of $416,676.90. Following the sale, the executive vice president now directly owns 181,223 shares in the company, valued at $15,442,011.83. The trade was a 2.63 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.30% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on MU shares. Needham & Company LLC cut their target price on shares of Micron Technology from $140.00 to $120.00 and set a “buy” rating on the stock in a research note on Thursday, December 19th. Piper Sandler decreased their price objective on shares of Micron Technology from $150.00 to $120.00 and set an “overweight” rating for the company in a research report on Thursday, December 19th. Morgan Stanley lowered their target price on shares of Micron Technology from $114.00 to $98.00 and set an “equal weight” rating for the company in a research note on Thursday, December 19th. JPMorgan Chase & Co. decreased their price target on Micron Technology from $180.00 to $145.00 and set an “overweight” rating for the company in a report on Thursday, December 19th. Finally, Wells Fargo & Company dropped their price objective on Micron Technology from $175.00 to $140.00 and set an “overweight” rating on the stock in a report on Thursday, December 19th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and twenty-three have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $135.24.

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.