Micron Technology, Inc. (NASDAQ:MU) Stock Holdings Increased by Perennial Investment Advisors LLC

Perennial Investment Advisors LLC boosted its stake in shares of Micron Technology, Inc. (NASDAQ:MU) by 10.8% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,668 shares of the semiconductor manufacturer’s stock after purchasing an additional 260 shares during the period. Perennial Investment Advisors LLC’s holdings in Micron Technology were worth $225,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in MU. Norges Bank acquired a new stake in shares of Micron Technology in the 4th quarter valued at $1,470,875,000. Nomura Asset Management Co. Ltd. raised its holdings in Micron Technology by 339.6% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 2,255,000 shares of the semiconductor manufacturer’s stock valued at $189,781,000 after buying an additional 1,742,073 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Micron Technology in the fourth quarter worth about $135,865,000. Geode Capital Management LLC increased its holdings in shares of Micron Technology by 3.9% during the 3rd quarter. Geode Capital Management LLC now owns 23,723,545 shares of the semiconductor manufacturer’s stock valued at $2,451,987,000 after acquiring an additional 892,607 shares during the last quarter. Finally, Vanguard Group Inc. raised its stake in shares of Micron Technology by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 99,857,205 shares of the semiconductor manufacturer’s stock valued at $8,403,982,000 after acquiring an additional 888,087 shares in the last quarter. Institutional investors and hedge funds own 80.84% of the company’s stock.

Micron Technology Price Performance

Micron Technology stock opened at $64.72 on Monday. The business has a 50 day simple moving average of $93.42 and a 200 day simple moving average of $98.24. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.72 and a quick ratio of 1.75. The company has a market capitalization of $72.33 billion, a PE ratio of 18.65 and a beta of 1.18. Micron Technology, Inc. has a one year low of $61.47 and a one year high of $157.54.

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

Micron Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be paid a dividend of $0.115 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.46 annualized dividend and a yield of 0.71%. Micron Technology’s dividend payout ratio is 11.03%.

Insider Transactions at Micron Technology

In other news, Director Mary Pat Mccarthy sold 2,404 shares of the stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $92.93, for a total transaction of $223,403.72. Following the sale, the director now directly owns 27,358 shares of the company’s stock, valued at $2,542,378.94. This represents a 8.08 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP April S. Arnzen sold 15,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 25th. The stock was sold at an average price of $96.18, for a total transaction of $1,442,700.00. Following the completion of the transaction, the executive vice president now owns 164,769 shares of the company’s stock, valued at $15,847,482.42. This trade represents 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.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on MU shares. Robert W. Baird upped their target price on Micron Technology from $130.00 to $163.00 and gave the stock an “outperform” rating in a research report on Friday, March 21st. TD Cowen decreased their price objective on shares of Micron Technology from $135.00 to $125.00 and set a “buy” rating for the company in a report on Thursday, December 19th. Piper Sandler dropped 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. Citigroup decreased their price target on shares of Micron Technology from $150.00 to $120.00 and set a “buy” rating for the company in a report on Friday, March 21st. Finally, Sanford C. Bernstein dropped their price objective on Micron Technology from $140.00 to $120.00 and set an “outperform” rating on the stock in a research note on Wednesday, December 18th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Micron Technology has a consensus rating of “Moderate Buy” and a consensus target price of $129.76.

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.