Credit Agricole S A Sells 1,392,537 Shares of Micron Technology, Inc. $MU

Credit Agricole S A lessened its stake in Micron Technology, Inc. (NASDAQ:MU) by 67.6% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 667,707 shares of the semiconductor manufacturer’s stock after selling 1,392,537 shares during the quarter. Credit Agricole S A owned approximately 0.06% of Micron Technology worth $58,017,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Sunbeam Capital Management LLC bought a new position in shares of Micron Technology in the fourth quarter valued at approximately $26,000. Opal Wealth Advisors LLC purchased a new stake in shares of Micron Technology during the first quarter valued at approximately $33,000. Roxbury Financial LLC increased its position in shares of Micron Technology by 306.1% during the first quarter. Roxbury Financial LLC now owns 398 shares of the semiconductor manufacturer’s stock valued at $37,000 after acquiring an additional 300 shares during the last quarter. AllSquare Wealth Management LLC increased its position in shares of Micron Technology by 100.0% during the first quarter. AllSquare Wealth Management LLC now owns 400 shares of the semiconductor manufacturer’s stock valued at $35,000 after acquiring an additional 200 shares during the last quarter. Finally, MJT & Associates Financial Advisory Group Inc. purchased a new stake in shares of Micron Technology during the first quarter valued at approximately $36,000. Institutional investors own 80.84% of the company’s stock.

Micron Technology Stock Performance

MU stock opened at $123.55 on Tuesday. The stock has a market capitalization of $138.27 billion, a PE ratio of 22.26 and a beta of 1.37. Micron Technology, Inc. has a 12-month low of $61.54 and a 12-month high of $129.85. The company has a current ratio of 2.75, a quick ratio of 1.89 and a debt-to-equity ratio of 0.30. The stock’s 50 day simple moving average is $118.27 and its 200 day simple moving average is $99.40.

Micron Technology (NASDAQ:MU) last released its quarterly earnings results on Wednesday, June 25th. The semiconductor manufacturer reported $1.91 earnings per share for the quarter, beating the consensus estimate of $1.57 by $0.34. The firm had revenue of $9.30 billion for the quarter, compared to analysts’ expectations of $8.83 billion. Micron Technology had a return on equity of 13.60% and a net margin of 18.41%. During the same period in the prior year, the firm earned $0.62 EPS. As a group, research analysts forecast that Micron Technology, Inc. will post 6.08 earnings per share for the current fiscal year.

Micron Technology Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 22nd. Stockholders of record on Monday, July 7th were issued a dividend of $0.115 per share. This represents a $0.46 annualized dividend and a dividend yield of 0.4%. The ex-dividend date of this dividend was Monday, July 7th. Micron Technology’s dividend payout ratio is presently 8.29%.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on MU. Cantor Fitzgerald increased their price target on Micron Technology from $145.00 to $155.00 and gave the company an “overweight” rating in a research report on Thursday, June 26th. UBS Group increased their price target on Micron Technology from $120.00 to $155.00 and gave the company a “buy” rating in a research report on Thursday, June 26th. Piper Sandler increased their price target on Micron Technology from $120.00 to $165.00 and gave the company an “overweight” rating in a research report on Thursday, June 26th. Bank of America increased their price target on Micron Technology from $84.00 to $140.00 and gave the company a “neutral” rating in a research report on Thursday, June 26th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $150.00 target price on shares of Micron Technology in a research report on Monday, August 11th. One analyst has rated the stock with a sell rating, five have given a hold rating, twenty have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $147.24.

Insider Activity

In other news, EVP Scott J. Deboer sold 20,000 shares of the stock in a transaction on Friday, June 6th. The stock was sold at an average price of $110.00, for a total transaction of $2,200,000.00. Following the transaction, the executive vice president directly owned 186,353 shares of the company’s stock, valued at $20,498,830. This represents a 9.69% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Mark J. Murphy sold 34,000 shares of the stock in a transaction on Tuesday, July 22nd. The shares were sold at an average price of $109.32, for a total value of $3,716,880.00. Following the transaction, the chief financial officer directly owned 264,036 shares in the company, valued at $28,864,415.52. The trade was a 11.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 286,042 shares of company stock worth $34,679,277. 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.