Micron Technology, Inc. (NASDAQ:MU) Shares Acquired by Strategic Investment Solutions Inc. IL

Strategic Investment Solutions Inc. IL increased its holdings in shares of Micron Technology, Inc. (NASDAQ:MU) by 108.0% in the fourth quarter, Holdings Channel reports. The firm owned 672 shares of the semiconductor manufacturer’s stock after buying an additional 349 shares during the period. Strategic Investment Solutions Inc. IL’s holdings in Micron Technology were worth $57,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Farringdon Capital Ltd. purchased a new stake in shares of Micron Technology during the fourth quarter worth $267,000. MSH Capital Advisors LLC purchased a new stake in shares of Micron Technology during the fourth quarter worth approximately $401,000. NewEdge Advisors LLC raised its holdings in Micron Technology by 16.0% during the fourth quarter. NewEdge Advisors LLC now owns 72,846 shares of the semiconductor manufacturer’s stock worth $6,131,000 after purchasing an additional 10,038 shares in the last quarter. Ceredex Value Advisors LLC raised its position in Micron Technology by 118.0% in the fourth quarter. Ceredex Value Advisors LLC now owns 460,538 shares of the semiconductor manufacturer’s stock worth $38,759,000 after acquiring an additional 249,243 shares in the last quarter. Finally, Insigneo Advisory Services LLC increased its holdings in Micron Technology by 6.3% in the fourth quarter. Insigneo Advisory Services LLC now owns 12,513 shares of the semiconductor manufacturer’s stock valued at $1,053,000 after buying an additional 739 shares in the last quarter. 80.84% of the stock is owned by hedge funds and other institutional investors.

Micron Technology Trading Down 0.8 %

NASDAQ:MU opened at $68.80 on Friday. Micron Technology, Inc. has a one year low of $61.54 and a one year high of $157.54. The business’s 50-day simple moving average is $88.74 and its 200 day simple moving average is $96.14. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.75 and a current ratio of 2.72. The stock has a market cap of $76.89 billion, a price-to-earnings ratio of 19.83 and a beta of 1.18.

Micron Technology (NASDAQ:MU) last released its earnings results on Thursday, March 20th. The semiconductor manufacturer reported $1.56 EPS for the quarter, beating the consensus estimate of $1.43 by $0.13. The company had revenue of $8.05 billion during the quarter, compared to analysts’ expectations of $7.93 billion. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. The business’s revenue was up 38.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.42 EPS. As a group, sell-side analysts predict that Micron Technology, Inc. will post 6.08 earnings per share for the current fiscal year.

Micron Technology Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were given a $0.115 dividend. This represents a $0.46 annualized dividend and a dividend yield of 0.67%. The ex-dividend date of this dividend was Monday, March 31st. Micron Technology’s payout ratio is currently 11.03%.

Insider Activity

In related 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 transaction 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP April S. Arnzen sold 15,000 shares of the business’s stock in a transaction on Tuesday, March 25th. The shares were sold at an average price of $96.18, for a total transaction of $1,442,700.00. Following the sale, the executive vice president now owns 164,769 shares of the company’s stock, valued at approximately $15,847,482.42. The trade was 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.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on MU shares. Wells Fargo & Company dropped their price target on Micron Technology from $140.00 to $130.00 and set an “overweight” rating for the company in a research report on Thursday, March 13th. TD Cowen decreased their price objective on Micron Technology from $135.00 to $125.00 and set a “buy” rating on the stock in a report on Thursday, December 19th. Piper Sandler decreased their target price on shares of Micron Technology from $150.00 to $120.00 and set an “overweight” rating on the stock in a research report on Thursday, December 19th. Barclays upped their price target on shares of Micron Technology from $110.00 to $115.00 and gave the stock an “overweight” rating in a research report on Friday, March 21st. Finally, Needham & Company LLC decreased their price target on shares of Micron Technology from $140.00 to $120.00 and set a “buy” rating on the stock in a report on Thursday, December 19th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $129.36.

Micron Technology 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.