Assetmark Inc. Has $4.04 Million Stake in Micron Technology, Inc. (NASDAQ:MU)

Assetmark Inc. grew its position in Micron Technology, Inc. (NASDAQ:MU) by 46.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 47,959 shares of the semiconductor manufacturer’s stock after purchasing an additional 15,167 shares during the quarter. Assetmark Inc.’s holdings in Micron Technology were worth $4,036,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in MU. Swedbank AB grew its position in shares of Micron Technology by 30.4% in the third quarter. Swedbank AB now owns 3,455,819 shares of the semiconductor manufacturer’s stock valued at $358,403,000 after purchasing an additional 806,639 shares during the last quarter. Principal Financial Group Inc. grew its position in Micron Technology by 4.4% during the third quarter. Principal Financial Group Inc. now owns 1,255,931 shares of the semiconductor manufacturer’s stock worth $130,253,000 after buying an additional 52,912 shares in the last quarter. Capital Performance Advisors LLP acquired a new stake in Micron Technology during the third quarter worth approximately $94,000. Easterly Investment Partners LLC grew its position in Micron Technology by 274.4% during the third quarter. Easterly Investment Partners LLC now owns 17,211 shares of the semiconductor manufacturer’s stock worth $1,785,000 after buying an additional 12,614 shares in the last quarter. Finally, Fiera Capital Corp grew its position in Micron Technology by 6.9% during the third quarter. Fiera Capital Corp now owns 24,617 shares of the semiconductor manufacturer’s stock worth $2,553,000 after buying an additional 1,592 shares in the last quarter. Institutional investors and hedge funds own 80.84% of the company’s stock.

Micron Technology Stock Up 4.1 %

Shares of NASDAQ:MU opened at $92.96 on Friday. The firm has a market cap of $103.57 billion, a P/E ratio of 26.79 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 12-month low of $83.54 and a 12-month high of $157.54. The business has a fifty day simple moving average of $95.99 and a 200 day simple moving average of $98.36.

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, topping the consensus estimate of $1.60 by $0.19. The business had revenue of $8.71 billion during the quarter, compared to analyst estimates of $8.71 billion. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. Micron Technology’s revenue for the quarter was up 84.3% compared to the same quarter last year. During the same period last year, the company earned ($0.95) EPS. Analysts predict that Micron Technology, Inc. will post 6.08 earnings per share for the current year.

Micron Technology Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Monday, December 30th were given a dividend of $0.115 per share. This represents a $0.46 annualized dividend and a yield of 0.49%. The ex-dividend date was Monday, December 30th. Micron Technology’s dividend payout ratio is currently 13.26%.

Insider Buying and Selling

In other Micron Technology news, Director Mary Pat Mccarthy sold 2,404 shares of the stock in a transaction dated 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 in the company, valued at approximately $2,542,378.94. This trade represents a 8.08 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP April S. Arnzen sold 4,890 shares of the stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $85.21, for a total value of $416,676.90. Following the sale, the executive vice president now owns 181,223 shares of the company’s stock, valued at approximately $15,442,011.83. The trade was 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 corporate insiders.

Analyst Upgrades and Downgrades

MU has been the topic of a number of analyst reports. Robert W. Baird reduced their price target on Micron Technology from $150.00 to $130.00 and set an “outperform” rating on the stock in a research report on Thursday, December 19th. 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. Morgan Stanley reduced their price target on Micron Technology from $98.00 to $91.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 28th. UBS Group reduced their price target on Micron Technology from $135.00 to $125.00 and set a “buy” rating on the stock in a research report on Thursday, December 19th. Finally, Wedbush reissued an “outperform” rating and set a $140.00 price target on shares of Micron Technology in a research report on Tuesday, December 17th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Micron Technology currently has a consensus rating of “Moderate Buy” and a consensus price target of $134.96.

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.