Micron Technology, Inc. (NASDAQ:MU) Stock Holdings Boosted by Ieq Capital LLC

Ieq Capital LLC boosted its stake in Micron Technology, Inc. (NASDAQ:MU) by 5.2% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 64,569 shares of the semiconductor manufacturer’s stock after buying an additional 3,179 shares during the period. Ieq Capital LLC’s holdings in Micron Technology were worth $5,434,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. State Street Corp grew its position in 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 buying an additional 1,434,568 shares in the last quarter. Primecap Management Co. CA grew its position in Micron Technology by 0.6% in the 3rd 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 in the last quarter. Geode Capital Management LLC grew its position in Micron Technology by 3.9% in 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 buying an additional 892,607 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Micron Technology by 21.7% in the 3rd 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 in the last quarter. Finally, Van ECK Associates Corp boosted its position in shares of Micron Technology by 30.6% during the 3rd quarter. Van ECK Associates Corp now owns 10,564,198 shares of the semiconductor manufacturer’s stock valued at $1,109,769,000 after purchasing an additional 2,477,985 shares in the last quarter. Institutional investors own 80.84% of the company’s stock.

Insider Buying and Selling

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of the 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 transaction, the executive vice president now owns 181,223 shares in the company, valued at $15,442,011.83. This trade represents a 2.63 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.30% of the stock is currently owned by corporate insiders.

Micron Technology Price Performance

NASDAQ MU opened at $98.78 on Friday. The company has a 50 day simple moving average of $96.28 and a 200-day simple moving average of $98.76. 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 firm has a market capitalization of $110.06 billion, a price-to-earnings ratio of 28.47 and a beta of 1.18. Micron Technology, Inc. has a 52-week low of $83.54 and a 52-week high of $157.54.

Micron Technology (NASDAQ:MU) last released its quarterly earnings data on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 EPS for the quarter, topping analysts’ consensus estimates of $1.60 by $0.19. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. The firm had revenue of $8.71 billion for the quarter, compared to the consensus estimate of $8.71 billion. During the same quarter in the prior year, the company posted ($0.95) earnings per share. The firm’s revenue was up 84.3% on a year-over-year basis. Equities research analysts predict that Micron Technology, Inc. will post 6.08 earnings per share for the current fiscal year.

Micron Technology Announces Dividend

The company 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. The ex-dividend date of this dividend was Monday, December 30th. This represents a $0.46 dividend on an annualized basis and a yield of 0.47%. Micron Technology’s dividend payout ratio is currently 13.26%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on MU. 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 report on Thursday, December 19th. Wedbush restated an “outperform” rating and set a $140.00 price objective on shares of Micron Technology in a research report on Tuesday, December 17th. Stifel Nicolaus reduced their price objective 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. UBS Group reduced their price objective on shares of Micron Technology from $135.00 to $125.00 and set a “buy” rating for the company in a research report on Thursday, December 19th. Finally, China Renaissance began coverage on shares of Micron Technology in a research report on Monday, October 28th. They set a “buy” rating and a $148.00 price objective for the company. One investment analyst has rated the stock with a sell rating, three have given a hold rating and twenty-three have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $134.96.

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.