Proficio Capital Partners LLC Buys 1,734 Shares of Micron Technology, Inc. (NASDAQ:MU)

Proficio Capital Partners LLC lifted its position in shares of Micron Technology, Inc. (NASDAQ:MU) by 74.7% in the 4th quarter, Holdings Channel reports. The institutional investor owned 4,056 shares of the semiconductor manufacturer’s stock after purchasing an additional 1,734 shares during the quarter. Proficio Capital Partners LLC’s holdings in Micron Technology were worth $341,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Micron Technology by 21.7% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 11,326,224 shares of the semiconductor manufacturer’s stock worth $1,174,643,000 after acquiring an additional 2,022,180 shares in the last quarter. State Street Corp raised its holdings 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 period. Worldquant Millennium Advisors LLC lifted its stake in Micron Technology by 254.4% in the 3rd quarter. Worldquant Millennium Advisors LLC now owns 1,859,416 shares of the semiconductor manufacturer’s stock valued at $192,840,000 after purchasing an additional 1,334,690 shares during the last quarter. Bridgewater Associates LP bought a new position in Micron Technology during the third quarter worth about $102,018,000. Finally, Two Sigma Advisers LP increased its position in Micron Technology by 24.3% during the third quarter. Two Sigma Advisers LP now owns 4,573,200 shares of the semiconductor manufacturer’s stock worth $474,287,000 after buying an additional 893,700 shares during the last quarter. 80.84% of the stock is currently owned by institutional investors.

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 value of $223,403.72. Following the transaction, the director now owns 27,358 shares in the company, valued at approximately $2,542,378.94. This represents a 8.08 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.30% of the stock is currently owned by corporate insiders.

Micron Technology Stock Performance

NASDAQ:MU opened at $94.18 on Wednesday. The company has a current ratio of 2.72, a quick ratio of 1.75 and a debt-to-equity ratio of 0.28. Micron Technology, Inc. has a 1-year low of $83.54 and a 1-year high of $157.54. The stock’s 50-day moving average is $96.80 and its 200-day moving average is $98.45. The stock has a market cap of $104.93 billion, a P/E ratio of 27.14 and a beta of 1.23.

Micron Technology (NASDAQ:MU) last issued its quarterly earnings results on Thursday, March 20th. The semiconductor manufacturer reported $1.56 earnings per share for the quarter, beating the consensus estimate of $1.43 by $0.13. The company had revenue of $8.05 billion during the quarter, compared to analysts’ expectations of $7.93 billion. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. The business’s quarterly revenue was up 38.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.42 earnings per share. Equities research analysts anticipate that Micron Technology, Inc. will post 6.08 earnings per share for the current year.

Micron Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be given a dividend of $0.115 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.46 annualized dividend and a dividend yield of 0.49%. Micron Technology’s payout ratio is 11.03%.

Analyst Ratings Changes

MU has been the subject of several research reports. Sanford C. Bernstein cut their price target on Micron Technology from $140.00 to $120.00 and set an “outperform” rating for the company in a report on Wednesday, December 18th. Needham & Company LLC cut their price objective on shares of Micron Technology from $140.00 to $120.00 and set a “buy” rating for the company in a research report on Thursday, December 19th. Wedbush restated an “outperform” rating and issued a $125.00 price target on shares of Micron Technology in a research note on Monday, March 17th. Mizuho dropped their price target on shares of Micron Technology from $135.00 to $115.00 and set an “outperform” rating for the company in a research report on Thursday, December 19th. Finally, Piper Sandler reduced their price target on Micron Technology from $150.00 to $120.00 and set an “overweight” rating on the stock in a research report on Thursday, December 19th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $132.63.

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.