US Bancorp DE Grows Position in Micron Technology, Inc. (NASDAQ:MU)

US Bancorp DE boosted its holdings in shares of Micron Technology, Inc. (NASDAQ:MU) by 5.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 583,559 shares of the semiconductor manufacturer’s stock after acquiring an additional 30,595 shares during the period. US Bancorp DE’s holdings in Micron Technology were worth $49,112,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in the business. Beacon Capital Management LLC raised its position in shares of Micron Technology by 114.9% in the 4th quarter. Beacon Capital Management LLC now owns 374 shares of the semiconductor manufacturer’s stock worth $31,000 after acquiring an additional 200 shares in the last quarter. True Wealth Design LLC grew its stake in Micron Technology by 1,096.3% in the third quarter. True Wealth Design LLC now owns 323 shares of the semiconductor manufacturer’s stock valued at $33,000 after purchasing an additional 296 shares during the last quarter. Midwest Capital Advisors LLC bought a new position in Micron Technology in the fourth quarter worth about $33,000. Stone House Investment Management LLC lifted its position in shares of Micron Technology by 602.2% during the third quarter. Stone House Investment Management LLC now owns 323 shares of the semiconductor manufacturer’s stock valued at $34,000 after buying an additional 277 shares during the last quarter. Finally, Activest Wealth Management lifted its position in shares of Micron Technology by 583.3% during the fourth quarter. Activest Wealth Management now owns 410 shares of the semiconductor manufacturer’s stock valued at $34,000 after buying an additional 350 shares during the last quarter. Hedge funds and other institutional investors own 80.84% of the company’s stock.

Insider Activity 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 value of $416,676.90. Following the completion of the sale, the executive vice president now directly owns 181,223 shares in the company, valued at $15,442,011.83. The trade was a 2.63 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.30% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. Bank of America downgraded shares of Micron Technology from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $125.00 to $110.00 in a research report on Thursday, December 19th. Stifel Nicolaus cut their price target on shares of Micron Technology from $135.00 to $130.00 and set a “buy” rating on the stock in a report on Thursday, December 19th. Wells Fargo & Company decreased their price objective on Micron Technology from $175.00 to $140.00 and set an “overweight” rating for the company in a report on Thursday, December 19th. Piper Sandler dropped their target price on Micron Technology from $150.00 to $120.00 and set an “overweight” rating on the stock in a research note on Thursday, December 19th. Finally, Needham & Company LLC reduced their target price on Micron Technology from $140.00 to $120.00 and set a “buy” rating on the stock in a research report on Thursday, December 19th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $134.96.

Micron Technology Stock Performance

NASDAQ MU opened at $93.63 on Friday. The firm has a market capitalization of $104.32 billion, a P/E ratio of 26.98 and a beta of 1.18. The stock has a 50-day simple moving average of $95.75 and a two-hundred day simple moving average of $98.88. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.75 and a current ratio of 2.72. Micron Technology, Inc. has a fifty-two week low of $83.54 and a fifty-two week high of $157.54.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings results on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 return on equity of 8.32% and a net margin of 13.34%. Micron Technology’s revenue for the quarter was up 84.3% on a year-over-year basis. During the same period in the previous year, the company posted ($0.95) earnings per share. On average, equities analysts forecast that Micron Technology, Inc. will post 6.08 earnings per share for the current year.

Micron Technology Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Monday, December 30th were given a dividend of $0.115 per share. The ex-dividend date of this dividend was Monday, December 30th. This represents a $0.46 annualized dividend and a yield of 0.49%. Micron Technology’s dividend payout ratio is presently 13.26%.

Micron Technology 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.