Varma Mutual Pension Insurance Co Has $48.54 Million Position in Micron Technology, Inc. $MU

Varma Mutual Pension Insurance Co reduced its stake in shares of Micron Technology, Inc. (NASDAQ:MU) by 5.5% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 170,071 shares of the semiconductor manufacturer’s stock after selling 9,900 shares during the quarter. Varma Mutual Pension Insurance Co’s holdings in Micron Technology were worth $48,540,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of MU. Brighton Jones LLC grew its position in shares of Micron Technology by 18.3% during the 4th quarter. Brighton Jones LLC now owns 6,318 shares of the semiconductor manufacturer’s stock worth $532,000 after buying an additional 976 shares during the period. Sivia Capital Partners LLC grew its position in shares of Micron Technology by 21.7% during the 2nd quarter. Sivia Capital Partners LLC now owns 3,528 shares of the semiconductor manufacturer’s stock worth $435,000 after buying an additional 628 shares during the period. United Bank acquired a new position in shares of Micron Technology during the 2nd quarter worth about $236,000. Schnieders Capital Management LLC. grew its position in shares of Micron Technology by 67.9% during the 2nd quarter. Schnieders Capital Management LLC. now owns 16,984 shares of the semiconductor manufacturer’s stock worth $2,093,000 after buying an additional 6,867 shares during the period. Finally, Sei Investments Co. grew its position in shares of Micron Technology by 5.6% during the 2nd quarter. Sei Investments Co. now owns 405,545 shares of the semiconductor manufacturer’s stock worth $49,987,000 after buying an additional 21,619 shares during the period. 80.84% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have recently issued reports on MU shares. Mizuho boosted their target price on Micron Technology from $480.00 to $530.00 and gave the stock an “outperform” rating in a research report on Thursday, March 19th. Summit Insights lowered Micron Technology from a “buy” rating to a “hold” rating in a research report on Thursday, March 19th. Piper Sandler boosted their price objective on Micron Technology from $275.00 to $400.00 and gave the company an “overweight” rating in a research report on Wednesday, January 7th. Melius Research began coverage on Micron Technology in a research report on Monday, April 27th. They issued a “buy” rating and a $700.00 price objective for the company. Finally, DA Davidson began coverage on Micron Technology in a research report on Tuesday, April 28th. They issued a “buy” rating for the company. Five equities research analysts have rated the stock with a Strong Buy rating, thirty have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Buy” and an average target price of $478.24.

Micron Technology Stock Performance

NASDAQ MU opened at $542.21 on Monday. The stock has a market capitalization of $611.47 billion, a price-to-earnings ratio of 25.60 and a beta of 1.91. The stock’s 50 day moving average price is $422.13 and its two-hundred day moving average price is $338.52. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.32 and a current ratio of 2.90. Micron Technology, Inc. has a 52 week low of $78.54 and a 52 week high of $545.91.

Micron Technology Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 15th. Shareholders of record on Monday, March 30th were paid a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 0.1%. The ex-dividend date was Monday, March 30th. This is a positive change from Micron Technology’s previous quarterly dividend of $0.12. Micron Technology’s dividend payout ratio (DPR) is presently 2.83%.

Insider Activity at Micron Technology

In other Micron Technology news, EVP Sumit Sadana sold 24,000 shares of the business’s stock in a transaction that occurred on Friday, April 10th. The stock was sold at an average price of $421.35, for a total value of $10,112,400.00. Following the sale, the executive vice president owned 224,021 shares in the company, valued at approximately $94,391,248.35. The trade was a 9.68% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP April S. Arnzen sold 40,000 shares of the business’s stock in a transaction that occurred on Wednesday, April 1st. The shares were sold at an average price of $347.39, for a total value of $13,895,600.00. Following the completion of the sale, the executive vice president owned 125,737 shares in the company, valued at $43,679,776.43. The trade was a 24.13% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.24% of the company’s stock.

Micron Technology Company Profile

Micron Technology, Inc is a global semiconductor company that designs and manufactures memory and storage solutions. Its product portfolio includes dynamic random-access memory (DRAM), NAND flash memory, solid-state drives (SSDs), memory modules and embedded memory solutions for a wide range of computing and electronic devices. Micron supplies components used in data centers, enterprise and cloud infrastructure, client computing, mobile devices, automotive systems and industrial applications, and also markets consumer-facing products under the Crucial brand.

Founded in 1978 and headquartered in Boise, Idaho, Micron has grown into an international manufacturer with research, development and production facilities across multiple regions.