Verdence Capital Advisors LLC lessened its position in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 4.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 107,223 shares of the semiconductor manufacturer's stock after selling 4,431 shares during the period. Micron Technology accounts for about 0.7% of Verdence Capital Advisors LLC's portfolio, making the stock its 25th biggest holding. Verdence Capital Advisors LLC's holdings in Micron Technology were worth $9,024,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also bought and sold shares of MU. State Street Corp increased its stake in shares of Micron Technology by 3.1% in the third quarter. State Street Corp now owns 48,226,710 shares of the semiconductor manufacturer's stock valued at $5,001,592,000 after buying an additional 1,434,568 shares during the period. Primecap Management Co. CA increased its stake in shares of Micron Technology by 0.6% in the third quarter. Primecap Management Co. CA now owns 37,631,860 shares of the semiconductor manufacturer's stock valued at $3,902,800,000 after buying an additional 206,499 shares during the period. Geode Capital Management LLC increased its stake in shares of Micron Technology by 3.9% in the third quarter. Geode Capital Management LLC now owns 23,723,545 shares of the semiconductor manufacturer's stock valued at $2,451,987,000 after buying an additional 892,607 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Micron Technology by 21.7% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 11,326,224 shares of the semiconductor manufacturer's stock valued at $1,174,643,000 after buying an additional 2,022,180 shares during the period. Finally, Bank of New York Mellon Corp increased its stake in shares of Micron Technology by 1.5% in the fourth quarter. Bank of New York Mellon Corp now owns 9,956,311 shares of the semiconductor manufacturer's stock valued at $837,923,000 after buying an additional 144,897 shares during the period. Institutional investors and hedge funds own 80.84% of the company's stock.
MU opened at $91.20 on Wednesday. The company has a 50 day moving average of $95.81 and a 200 day moving average of $98.63. The company has a market cap of $101.61 billion, a PE ratio of 26.28 and a beta of 1.18. Micron Technology, Inc. has a 12 month low of $83.54 and a 12 month high of $157.54. The company has a current ratio of 2.72, a quick ratio of 1.75 and a debt-to-equity ratio of 0.28.
Micron Technology (NASDAQ:MU - Get Free Report) last released its quarterly earnings data on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 EPS for the quarter, topping the consensus estimate of $1.60 by $0.19. The company had revenue of $8.71 billion during the quarter, compared to the consensus estimate of $8.71 billion. Micron Technology had a net margin of 13.34% and a return on equity of 8.32%. Micron Technology's revenue for the quarter was up 84.3% on a year-over-year basis. During the same period last year, the firm earned ($0.95) EPS. On average, sell-side analysts expect that Micron Technology, Inc. will post 6.08 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Monday, December 30th were issued a $0.115 dividend. This represents a $0.46 annualized dividend and a yield of 0.50%. The ex-dividend date was Monday, December 30th. Micron Technology's dividend payout ratio (DPR) is presently 13.26%.
Several brokerages have recently weighed in on MU. Piper Sandler decreased their price target on Micron Technology from $150.00 to $120.00 and set an "overweight" rating for the company in a research note on Thursday, December 19th. The Goldman Sachs Group cut their target price on Micron Technology from $145.00 to $128.00 and set a "buy" rating on the stock in a research report on Thursday, December 19th. Wells Fargo & Company cut their target price on Micron Technology from $175.00 to $140.00 and set an "overweight" rating on the stock in a research report on Thursday, December 19th. Wedbush restated an "outperform" rating and set a $140.00 target price on shares of Micron Technology in a research report on Tuesday, December 17th. Finally, Barclays decreased their price target on shares of Micron Technology from $145.00 to $110.00 and set an "overweight" rating for the company in a research note on Friday, December 20th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, Micron Technology presently has a consensus rating of "Moderate Buy" and a consensus target price of $134.96.
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In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of the firm's stock in a transaction on Friday, December 20th. The shares were sold at an average price of $85.21, for a total value of $416,676.90. Following the completion of the transaction, the executive vice president now directly owns 181,223 shares of the company's stock, valued at $15,442,011.83. This trade represents a 2.63 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.30% of the company's stock.
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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