Handelsbanken Fonder AB Purchases 79,749 Shares of Micron Technology, Inc. (NASDAQ:MU)

Handelsbanken Fonder AB boosted its position in Micron Technology, Inc. (NASDAQ:MU) by 24.1% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 410,710 shares of the semiconductor manufacturer’s stock after purchasing an additional 79,749 shares during the quarter. Handelsbanken Fonder AB’s holdings in Micron Technology were worth $35,050,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of MU. Fortis Capital Advisors LLC acquired a new position in shares of Micron Technology during the fourth quarter valued at about $25,000. OFI Invest Asset Management purchased a new stake in Micron Technology in the third quarter valued at approximately $27,000. Annis Gardner Whiting Capital Advisors LLC purchased a new stake in Micron Technology in the third quarter valued at approximately $28,000. Coppell Advisory Solutions LLC purchased a new stake in Micron Technology in the second quarter valued at approximately $32,000. Finally, VisionPoint Advisory Group LLC boosted its position in Micron Technology by 68.3% in the third quarter. VisionPoint Advisory Group LLC now owns 488 shares of the semiconductor manufacturer’s stock valued at $33,000 after buying an additional 198 shares during the last quarter. Institutional investors and hedge funds own 80.84% of the company’s stock.

Analyst Upgrades and Downgrades

MU has been the topic of a number of recent research reports. JPMorgan Chase & Co. upped their target price on Micron Technology from $105.00 to $130.00 and gave the company an “overweight” rating in a research report on Thursday, March 21st. Piper Sandler upped their price objective on Micron Technology from $95.00 to $130.00 and gave the stock an “overweight” rating in a research report on Thursday, March 21st. Citigroup restated a “buy” rating and issued a $150.00 price objective on shares of Micron Technology in a research report on Thursday, April 4th. Morgan Stanley upped their price objective on Micron Technology from $78.00 to $98.00 and gave the stock an “underweight” rating in a research report on Thursday, March 21st. Finally, TD Cowen upped their price objective on Micron Technology from $120.00 to $150.00 and gave the stock an “outperform” rating in a research report on Thursday, March 21st. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $122.20.

Micron Technology Stock Down 4.6 %

NASDAQ MU opened at $106.77 on Monday. The business has a fifty day moving average price of $102.95 and a 200 day moving average price of $86.93. Micron Technology, Inc. has a one year low of $58.03 and a one year high of $130.54. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.40 and a current ratio of 3.74. The company has a market cap of $118.23 billion, a P/E ratio of -30.95 and a beta of 1.27.

Micron Technology (NASDAQ:MU) last posted its quarterly earnings data on Wednesday, March 20th. The semiconductor manufacturer reported $0.42 EPS for the quarter, beating the consensus estimate of ($0.27) by $0.69. Micron Technology had a negative return on equity of 8.98% and a negative net margin of 20.57%. The firm had revenue of $5.82 billion during the quarter, compared to the consensus estimate of $5.35 billion. During the same period in the prior year, the company earned ($2.03) EPS. The firm’s revenue was up 57.7% compared to the same quarter last year. Research analysts anticipate that Micron Technology, Inc. will post 0.24 EPS for the current fiscal year.

Micron Technology Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 16th. Shareholders of record on Monday, April 1st were paid a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.43%. The ex-dividend date was Thursday, March 28th. Micron Technology’s dividend payout ratio (DPR) is presently -13.33%.

Insiders Place Their Bets

In other Micron Technology news, CEO Sanjay Mehrotra sold 7,000 shares of the firm’s stock in a transaction on Tuesday, January 23rd. The stock was sold at an average price of $87.41, for a total value of $611,870.00. Following the completion of the sale, the chief executive officer now directly owns 642,251 shares of the company’s stock, valued at approximately $56,139,159.91. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Sanjay Mehrotra sold 7,000 shares of the stock in a transaction on Tuesday, January 23rd. The stock was sold at an average price of $87.41, for a total transaction of $611,870.00. Following the completion of the transaction, the chief executive officer now directly owns 642,251 shares in the company, valued at approximately $56,139,159.91. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP April S. Arnzen sold 4,890 shares of the stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $119.30, for a total value of $583,377.00. Following the transaction, the executive vice president now owns 148,817 shares of the company’s stock, valued at $17,753,868.10. The disclosure for this sale can be found here. Insiders sold 313,890 shares of company stock valued at $33,617,027 in the last three months. 0.32% of the stock is currently owned by insiders.

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.