Monday, June 24, 2024

1832 Asset Management L.P. Lowers Stock Holdings in Micron Technology, Inc. (NASDAQ:MU)

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1832 Asset Management L.P. lessened its stake in shares of Micron Technology, Inc. (NASDAQ:MUFree Report) by 27.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 600 shares of the semiconductor manufacturer’s stock after selling 230 shares during the quarter. 1832 Asset Management L.P.’s holdings in Micron Technology were worth $51,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of MU. Tidemark LLC acquired a new stake in Micron Technology in the fourth quarter valued at $25,000. Pingora Partners LLC purchased a new stake in Micron Technology during the fourth quarter worth about $26,000. VisionPoint Advisory Group LLC grew its position in Micron Technology by 68.3% during the third quarter. VisionPoint Advisory Group LLC now owns 488 shares of the semiconductor manufacturer’s stock worth $33,000 after buying an additional 198 shares during the period. Clear Street Markets LLC increased its holdings in Micron Technology by 67.5% in the third quarter. Clear Street Markets LLC now owns 623 shares of the semiconductor manufacturer’s stock valued at $42,000 after buying an additional 251 shares in the last quarter. Finally, Operose Advisors LLC acquired a new stake in shares of Micron Technology during the 3rd quarter valued at approximately $53,000. 80.84% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Micron Technology

In related news, CEO Sanjay Mehrotra sold 7,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of $93.08, for a total value of $651,560.00. Following the completion of the sale, the chief executive officer now owns 773,557 shares of the company’s stock, valued at approximately $72,002,685.56. The sale was disclosed in a document filed with the SEC, which is available at this link. In related news, CEO Sanjay Mehrotra sold 7,000 shares of Micron Technology stock in a transaction on Tuesday, March 19th. The shares were sold at an average price of $93.08, for a total value of $651,560.00. Following the completion of the sale, the chief executive officer now owns 773,557 shares of the company’s stock, valued at approximately $72,002,685.56. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Michael W. Bokan sold 15,000 shares of the company’s stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $123.42, for a total transaction of $1,851,300.00. Following the completion of the sale, the senior vice president now owns 138,387 shares of the company’s stock, valued at $17,079,723.54. The disclosure for this sale can be found here. Insiders have sold 365,446 shares of company stock worth $43,536,203 over the last 90 days. 0.32% of the stock is currently owned by corporate insiders.

Micron Technology Trading Up 3.0 %

NASDAQ MU opened at $134.82 on Tuesday. The firm’s 50 day moving average price is $122.25 and its two-hundred day moving average price is $99.98. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.40 and a current ratio of 3.74. Micron Technology, Inc. has a twelve month low of $60.50 and a twelve month high of $135.66. The stock has a market cap of $149.30 billion, a price-to-earnings ratio of -39.08 and a beta of 1.21.

Micron Technology (NASDAQ:MUGet Free Report) last announced its quarterly earnings data on Wednesday, March 20th. The semiconductor manufacturer reported $0.42 earnings per share (EPS) for the quarter, topping 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 business earned ($2.03) EPS. The business’s revenue for the quarter was up 57.7% on a year-over-year basis. Equities analysts anticipate that Micron Technology, Inc. will post 0.29 EPS for the current year.

Micron Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 16th. Investors of record on Monday, April 1st were issued a dividend of $0.115 per share. The ex-dividend date was Thursday, March 28th. This represents a $0.46 annualized dividend and a dividend yield of 0.34%. Micron Technology’s dividend payout ratio is -13.33%.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. Argus upgraded Micron Technology from a “hold” rating to a “buy” rating and set a $140.00 target price on the stock in a research report on Thursday, March 21st. Wedbush increased their price objective on shares of Micron Technology from $103.00 to $130.00 and gave the company an “outperform” rating in a research note on Thursday, March 21st. Robert W. Baird upgraded shares of Micron Technology from a “neutral” rating to an “outperform” rating and raised their target price for the company from $115.00 to $150.00 in a report on Monday, May 6th. Mizuho upped their price target on shares of Micron Technology from $150.00 to $155.00 and gave the company a “buy” rating in a report on Friday, May 31st. Finally, Rosenblatt Securities restated a “buy” rating and set a $140.00 price objective on shares of Micron Technology in a research report on Monday, March 18th. Two analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $130.16.

Check Out Our Latest Report on Micron Technology

Micron Technology Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Micron Technology (NASDAQ:MU)



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