Crossmark Global Holdings Inc. Increases Stake in Micron Technology, Inc. (NASDAQ:MU)

Crossmark Global Holdings Inc. grew its holdings in Micron Technology, Inc. (NASDAQ:MUFree Report) by 1.2% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 192,148 shares of the semiconductor manufacturer’s stock after purchasing an additional 2,288 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in Micron Technology were worth $16,171,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of MU. Harmony Asset Management LLC boosted its stake in Micron Technology by 75.6% in the third quarter. Harmony Asset Management LLC now owns 11,889 shares of the semiconductor manufacturer’s stock valued at $1,233,000 after acquiring an additional 5,120 shares in the last quarter. Lazard Freres Gestion S.A.S. raised its position in Micron Technology by 241.7% during the 3rd quarter. Lazard Freres Gestion S.A.S. now owns 41,000 shares of the semiconductor manufacturer’s stock worth $4,252,000 after buying an additional 29,000 shares during the last quarter. Chartwell Investment Partners LLC lifted its stake in Micron Technology by 26.4% during the 3rd quarter. Chartwell Investment Partners LLC now owns 195,115 shares of the semiconductor manufacturer’s stock valued at $20,236,000 after acquiring an additional 40,802 shares during the period. State Street Corp boosted its holdings in shares of Micron Technology by 3.1% in the 3rd quarter. State Street Corp now owns 48,226,710 shares of the semiconductor manufacturer’s stock valued at $5,001,592,000 after acquiring an additional 1,434,568 shares during the last quarter. Finally, Global X Japan Co. Ltd. increased its stake in shares of Micron Technology by 23.1% in the third quarter. Global X Japan Co. Ltd. now owns 51,832 shares of the semiconductor manufacturer’s stock worth $5,375,000 after acquiring an additional 9,735 shares during the period. Hedge funds and other institutional investors own 80.84% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Wells Fargo & Company cut their price target 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 reaffirmed an “outperform” rating and set a $140.00 target price on shares of Micron Technology in a report on Tuesday, December 17th. JPMorgan Chase & Co. dropped their price target on shares of Micron Technology from $180.00 to $145.00 and set an “overweight” rating on the stock in a research note on Thursday, December 19th. Bank of America cut shares of Micron Technology from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $125.00 to $110.00 in a research report on Thursday, December 19th. Finally, Piper Sandler reduced their price target on shares of Micron Technology from $150.00 to $120.00 and set an “overweight” rating for the company in a research report on Thursday, December 19th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-three have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $135.24.

Get Our Latest Stock Report on Micron Technology

Micron Technology Trading Up 3.1 %

NASDAQ MU opened at $105.75 on Tuesday. The company has a quick ratio of 1.75, a current ratio of 2.72 and a debt-to-equity ratio of 0.28. The firm has a 50 day moving average of $97.87 and a two-hundred day moving average of $102.02. The stock has a market capitalization of $117.82 billion, a PE ratio of 30.48 and a beta of 1.18. Micron Technology, Inc. has a 52 week low of $79.15 and a 52 week high of $157.54.

Micron Technology (NASDAQ:MUGet Free Report) last posted its quarterly earnings data on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 earnings per share for the quarter, beating the consensus estimate of $1.60 by $0.19. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. The business had revenue of $8.71 billion during the quarter, compared to the consensus estimate of $8.71 billion. During the same period in the prior year, the company earned ($0.95) earnings per share. The company’s revenue was up 84.3% compared to the same quarter last year. As a group, research analysts expect that Micron Technology, Inc. will post 6.25 EPS for the current fiscal year.

Micron Technology Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Monday, December 30th were given a $0.115 dividend. This represents a $0.46 annualized dividend and a yield of 0.43%. The ex-dividend date of this dividend was Monday, December 30th. Micron Technology’s dividend payout ratio (DPR) is presently 13.26%.

Insider Buying and Selling at Micron Technology

In other news, EVP April S. Arnzen sold 4,890 shares of the business’s stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $85.21, for a total transaction of $416,676.90. Following the sale, the executive vice president now owns 181,223 shares of the company’s stock, valued at $15,442,011.83. The trade was a 2.63 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.30% of the stock is currently owned by corporate insiders.

About Micron Technology

(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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