Generali Asset Management SPA SGR Buys Shares of 30,912 Micron Technology, Inc. (NASDAQ:MU)

Generali Asset Management SPA SGR bought a new stake in Micron Technology, Inc. (NASDAQ:MU) during the 4th quarter, Holdings Channel.com reports. The firm bought 30,912 shares of the semiconductor manufacturer’s stock, valued at approximately $2,602,000.

Several other institutional investors have also recently bought and sold shares of MU. Swedbank AB raised its stake in shares of Micron Technology by 30.4% during the 3rd quarter. Swedbank AB now owns 3,455,819 shares of the semiconductor manufacturer’s stock worth $358,403,000 after purchasing an additional 806,639 shares in the last quarter. Quest Partners LLC raised its stake in shares of Micron Technology by 1,485.2% during the 3rd quarter. Quest Partners LLC now owns 8,243 shares of the semiconductor manufacturer’s stock worth $855,000 after purchasing an additional 7,723 shares in the last quarter. Pathstone Holdings LLC raised its stake in shares of Micron Technology by 1.1% during the 3rd quarter. Pathstone Holdings LLC now owns 208,683 shares of the semiconductor manufacturer’s stock worth $21,643,000 after purchasing an additional 2,182 shares in the last quarter. OneAscent Financial Services LLC bought a new stake in shares of Micron Technology during the 3rd quarter worth approximately $203,000. Finally, Fifth Third Wealth Advisors LLC raised its stake in shares of Micron Technology by 3.8% during the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 20,422 shares of the semiconductor manufacturer’s stock worth $2,118,000 after purchasing an additional 752 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 Micron Technology stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $85.21, for a total value 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. The trade was a 2.63 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Mary Pat Mccarthy sold 2,404 shares of Micron Technology stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $92.93, for a total value of $223,403.72. Following the sale, the director now directly owns 27,358 shares in the company, valued at $2,542,378.94. The trade was a 8.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.30% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the company. The Goldman Sachs Group dropped their price objective on Micron Technology from $145.00 to $128.00 and set a “buy” rating on the stock in a research note on Thursday, December 19th. Bank of America cut Micron Technology from a “buy” rating to a “neutral” rating and dropped their price target for the company from $125.00 to $110.00 in a research note on Thursday, December 19th. Needham & Company LLC dropped their price target on Micron Technology from $140.00 to $120.00 and set a “buy” rating on the stock in a research note on Thursday, December 19th. Piper Sandler dropped their price target 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, UBS Group increased their price target on Micron Technology from $125.00 to $130.00 and gave the company a “buy” rating in a research note on Monday. One research analyst has rated the stock with a sell rating, three have given a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $134.16.

Micron Technology Stock Up 0.3 %

Shares of NASDAQ MU opened at $102.06 on Thursday. 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 52 week low of $83.54 and a 52 week high of $157.54. The stock has a market capitalization of $113.71 billion, a P/E ratio of 29.41 and a beta of 1.23. The stock’s fifty day moving average is $96.84 and its 200 day moving average is $98.19.

Micron Technology (NASDAQ:MU) last issued its quarterly earnings results 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 company had revenue of $8.71 billion for the quarter, compared to analysts’ expectations of $8.71 billion. During the same quarter last year, the business earned ($0.95) earnings per share. Micron Technology’s revenue was up 84.3% on a year-over-year basis. Sell-side analysts forecast that Micron Technology, Inc. will post 6.08 earnings per share for the current fiscal year.

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.