Ally Financial Inc. Purchases 2,000 Shares of Micron Technology, Inc. (NASDAQ:MU)

Ally Financial Inc. increased its position in shares of Micron Technology, Inc. (NASDAQ:MU) by 11.1% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 20,000 shares of the semiconductor manufacturer’s stock after buying an additional 2,000 shares during the quarter. Ally Financial Inc.’s holdings in Micron Technology were worth $1,683,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Beacon Capital Management LLC boosted its position in shares of Micron Technology by 114.9% in the fourth quarter. Beacon Capital Management LLC now owns 374 shares of the semiconductor manufacturer’s stock valued at $31,000 after acquiring an additional 200 shares during the period. Midwest Capital Advisors LLC bought a new stake in Micron Technology in the 4th quarter valued at $33,000. Activest Wealth Management grew its position in Micron Technology by 583.3% in the 4th quarter. Activest Wealth Management now owns 410 shares of the semiconductor manufacturer’s stock worth $34,000 after purchasing an additional 350 shares during the last quarter. Comprehensive Financial Planning Inc. PA acquired a new stake in Micron Technology in the 4th quarter worth $34,000. Finally, Curio Wealth LLC acquired a new position in shares of Micron Technology during the fourth quarter valued at about $34,000. 80.84% of the stock is currently owned by institutional investors and hedge funds.

Micron Technology Stock Performance

Shares of NASDAQ:MU opened at $69.33 on Thursday. The business has a fifty day moving average of $89.28 and a 200-day moving average of $96.38. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.75 and a current ratio of 2.72. Micron Technology, Inc. has a twelve month low of $61.54 and a twelve month high of $157.54. The firm has a market cap of $77.48 billion, a PE ratio of 19.98 and a beta of 1.18.

Micron Technology (NASDAQ:MU) last posted its quarterly earnings data 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. Micron Technology had a net margin of 13.34% and a return on equity of 8.32%. The firm had revenue of $8.05 billion during the quarter, compared to analysts’ expectations of $7.93 billion. During the same quarter last year, the company posted $0.42 EPS. The company’s quarterly revenue was up 38.2% compared to the same quarter last year. On average, equities research analysts predict that Micron Technology, Inc. will post 6.08 EPS for the current fiscal year.

Micron Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were given a $0.115 dividend. This represents a $0.46 annualized dividend and a yield of 0.66%. The ex-dividend date was Monday, March 31st. Micron Technology’s dividend payout ratio (DPR) is presently 11.03%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on MU shares. JPMorgan Chase & Co. decreased their target price on Micron Technology from $145.00 to $135.00 and set an “overweight” rating on the stock in a research report on Friday, March 21st. Wedbush reissued an “outperform” rating and set a $125.00 price objective on shares of Micron Technology in a report on Monday, March 17th. Citigroup cut their target price on Micron Technology from $120.00 to $110.00 and set a “buy” rating for the company in a research note on Friday, April 11th. Piper Sandler decreased their price target on shares of Micron Technology from $150.00 to $120.00 and set an “overweight” rating on the stock in a research note on Thursday, December 19th. Finally, Stifel Nicolaus dropped their price objective on shares of Micron Technology from $135.00 to $130.00 and set a “buy” rating for the company in a research note on Thursday, December 19th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $129.36.

Insiders Place Their Bets

In other news, Director Mary Pat Mccarthy sold 2,404 shares of the firm’s stock in a transaction 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 directly owns 27,358 shares in the company, valued at $2,542,378.94. This trade represents a 8.08 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP April S. Arnzen sold 15,000 shares of the company’s stock in a transaction dated Tuesday, March 25th. The shares were sold at an average price of $96.18, for a total value of $1,442,700.00. Following the completion of the sale, the executive vice president now owns 164,769 shares of the company’s stock, valued at $15,847,482.42. This represents a 8.34 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.30% of the company’s stock.

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.