Cigna Investments Inc. New Has $954,000 Stock Position in Micron Technology, Inc. (NASDAQ:MU)

Cigna Investments Inc. New lowered its position in Micron Technology, Inc. (NASDAQ:MU) by 1.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 11,336 shares of the semiconductor manufacturer’s stock after selling 115 shares during the period. Cigna Investments Inc. New’s holdings in Micron Technology were worth $954,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Sovran Advisors LLC bought a new position in Micron Technology in the fourth quarter worth approximately $738,000. Strengthening Families & Communities LLC lifted its holdings in Micron Technology by 155.7% during the fourth quarter. Strengthening Families & Communities LLC now owns 1,575 shares of the semiconductor manufacturer’s stock worth $133,000 after acquiring an additional 959 shares during the period. Focus Financial Network Inc. lifted its holdings in Micron Technology by 69.8% during the fourth quarter. Focus Financial Network Inc. now owns 4,550 shares of the semiconductor manufacturer’s stock worth $383,000 after acquiring an additional 1,871 shares during the period. Sapient Capital LLC lifted its holdings in Micron Technology by 5.8% during the fourth quarter. Sapient Capital LLC now owns 4,343 shares of the semiconductor manufacturer’s stock worth $366,000 after acquiring an additional 240 shares during the period. Finally, Sycomore Asset Management increased its position in Micron Technology by 14.8% in the fourth quarter. Sycomore Asset Management now owns 155,733 shares of the semiconductor manufacturer’s stock worth $13,106,000 after buying an additional 20,066 shares during the last quarter. Institutional investors own 80.84% of the company’s stock.

Insider Activity at Micron Technology

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

Micron Technology Stock Up 3.9 %

NASDAQ:MU opened at $95.93 on Tuesday. The firm’s 50-day moving average price is $96.63 and its 200-day moving average price is $98.96. The company has a market capitalization of $106.88 billion, a PE ratio of 27.65 and a beta of 1.18. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.72 and a quick ratio of 1.75. Micron Technology, Inc. has a 1-year low of $79.15 and a 1-year high of $157.54.

Micron Technology (NASDAQ:MU) last released its earnings results on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 earnings per share for the quarter, topping analysts’ consensus estimates of $1.60 by $0.19. The firm had revenue of $8.71 billion for 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%. The company’s revenue was up 84.3% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.95) EPS. On average, equities analysts predict that Micron Technology, Inc. will post 6.29 EPS for the current fiscal year.

Micron Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Monday, December 30th were given a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.48%. The ex-dividend date was Monday, December 30th. Micron Technology’s dividend payout ratio is presently 13.26%.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. UBS Group decreased their target price on Micron Technology from $135.00 to $125.00 and set a “buy” rating for the company in a research report on Thursday, December 19th. Morgan Stanley reduced their price objective on shares of Micron Technology from $98.00 to $91.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 28th. Cantor Fitzgerald reduced their price objective on shares of Micron Technology from $150.00 to $130.00 and set an “overweight” rating for the company in a research note on Thursday, December 19th. Piper Sandler reduced their price objective on shares of Micron Technology from $150.00 to $120.00 and set an “overweight” rating for the company in a research note on Thursday, December 19th. Finally, Stifel Nicolaus dropped their target price on shares of Micron Technology from $135.00 to $130.00 and set a “buy” rating for the company in a research report on Thursday, December 19th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-three have assigned a buy rating to the stock. Based on data from MarketBeat, Micron Technology has a consensus rating of “Moderate Buy” and a consensus price target of $134.96.

About Micron Technology

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.