Erste Asset Management GmbH Purchases 6,013 Shares of Micron Technology, Inc. (NASDAQ:MU)

Erste Asset Management GmbH raised its holdings in Micron Technology, Inc. (NASDAQ:MU) by 5.1% in the fourth quarter, HoldingsChannel.com reports. The firm owned 123,576 shares of the semiconductor manufacturer’s stock after purchasing an additional 6,013 shares during the quarter. Erste Asset Management GmbH’s holdings in Micron Technology were worth $10,953,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in MU. Harmony Asset Management LLC boosted its stake in Micron Technology by 75.6% in the third quarter. Harmony Asset Management LLC now owns 11,889 shares of the semiconductor manufacturer’s stock valued at $1,233,000 after buying an additional 5,120 shares in the last quarter. Lazard Freres Gestion S.A.S. boosted its position in Micron Technology by 241.7% in the third quarter. Lazard Freres Gestion S.A.S. now owns 41,000 shares of the semiconductor manufacturer’s stock valued at $4,252,000 after buying an additional 29,000 shares in the last quarter. E Fund Management Co. Ltd. grew its stake in shares of Micron Technology by 31.8% during the fourth quarter. E Fund Management Co. Ltd. now owns 36,378 shares of the semiconductor manufacturer’s stock worth $3,062,000 after buying an additional 8,780 shares during the last quarter. Stablepoint Partners LLC acquired a new position in shares of Micron Technology during the fourth quarter worth $569,000. Finally, State Street Corp lifted its stake 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 acquiring an additional 1,434,568 shares during the last quarter. 80.84% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have issued reports on MU. JPMorgan Chase & Co. lowered their target price on Micron Technology from $180.00 to $145.00 and set an “overweight” rating for the company in a report on Thursday, December 19th. Wedbush reaffirmed an “outperform” rating and issued a $140.00 price objective on shares of Micron Technology in a research note on Tuesday, December 17th. Mizuho cut their target price on shares of Micron Technology from $135.00 to $115.00 and set an “outperform” rating on the stock in a research report on Thursday, December 19th. Piper Sandler reduced their target price on shares of Micron Technology from $150.00 to $120.00 and set an “overweight” rating on the stock in a report on Thursday, December 19th. Finally, Bank of America downgraded shares of Micron Technology from a “buy” rating to a “neutral” rating and dropped their price target for the company from $125.00 to $110.00 in a research note on Thursday, December 19th. One analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $134.56.

Insiders Place Their Bets

In other Micron Technology news, Director Mary Pat Mccarthy sold 2,404 shares of the firm’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $92.93, for a total value of $223,403.72. Following the completion of the transaction, the director now owns 27,358 shares in the company, valued at $2,542,378.94. This trade represents a 8.08 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP April S. Arnzen sold 4,890 shares of the business’s stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $85.21, for a total transaction of $416,676.90. Following the transaction, the executive vice president now directly owns 181,223 shares of the company’s stock, valued at approximately $15,442,011.83. This represents a 2.63 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.30% of the company’s stock.

Micron Technology Stock Down 0.8 %

MU stock opened at $94.88 on Friday. The firm has a market capitalization of $105.71 billion, a PE ratio of 27.34 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 twelve month low of $83.54 and a twelve month high of $157.54. The stock’s 50 day moving average is $96.50 and its 200-day moving average is $98.04.

Micron Technology (NASDAQ:MU) last issued its quarterly earnings data on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 earnings per share for the quarter, beating the consensus estimate of $1.60 by $0.19. The business had revenue of $8.71 billion for the quarter, compared to analysts’ expectations of $8.71 billion. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. The business’s revenue was up 84.3% on a year-over-year basis. During the same period last year, the business earned ($0.95) EPS. Sell-side analysts expect that Micron Technology, Inc. will post 6.08 EPS for the current fiscal year.

Micron Technology Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Monday, December 30th were given a dividend of $0.115 per share. The ex-dividend date was Monday, December 30th. This represents a $0.46 annualized dividend and a dividend yield of 0.48%. Micron Technology’s dividend payout ratio is currently 13.26%.

Micron Technology Company Profile

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.