8,263 Shares in Micron Technology, Inc. (NASDAQ:MU) Purchased by GAMMA Investing LLC

GAMMA Investing LLC bought a new position in shares of Micron Technology, Inc. (NASDAQ:MU) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 8,263 shares of the semiconductor manufacturer’s stock, valued at approximately $709,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Avior Wealth Management LLC lifted its holdings in Micron Technology by 6.6% in the third quarter. Avior Wealth Management LLC now owns 18,621 shares of the semiconductor manufacturer’s stock valued at $1,267,000 after acquiring an additional 1,147 shares during the period. Midwest Financial Group LLC increased its position in shares of Micron Technology by 1.6% in the third quarter. Midwest Financial Group LLC now owns 15,855 shares of the semiconductor manufacturer’s stock valued at $1,079,000 after buying an additional 250 shares in the last quarter. Meridian Wealth Management LLC increased its position in shares of Micron Technology by 93.3% in the third quarter. Meridian Wealth Management LLC now owns 27,918 shares of the semiconductor manufacturer’s stock valued at $1,899,000 after buying an additional 13,472 shares in the last quarter. Exchange Traded Concepts LLC increased its position in shares of Micron Technology by 411.2% in the third quarter. Exchange Traded Concepts LLC now owns 4,657 shares of the semiconductor manufacturer’s stock valued at $317,000 after buying an additional 3,746 shares in the last quarter. Finally, Richelieu Gestion SA increased its position in shares of Micron Technology by 10.5% in the third quarter. Richelieu Gestion SA now owns 84,358 shares of the semiconductor manufacturer’s stock valued at $5,739,000 after buying an additional 8,026 shares in the last quarter. Institutional investors and hedge funds own 80.84% of the company’s stock.

Analysts Set New Price Targets

MU has been the subject of several research reports. Wells Fargo & Company boosted their price target on Micron Technology from $125.00 to $135.00 and gave the stock an “overweight” rating in a research report on Thursday, March 21st. Mizuho upped their target price on Micron Technology from $105.00 to $124.00 and gave the company a “buy” rating in a report on Thursday, March 21st. Piper Sandler upped their target price on Micron Technology from $95.00 to $130.00 and gave the company an “overweight” rating in a report on Thursday, March 21st. Raymond James upped their price target on Micron Technology from $90.00 to $100.00 and gave the company an “outperform” rating in a research note on Friday, January 19th. Finally, Argus raised Micron Technology from a “hold” rating to a “buy” rating and set a $140.00 price target on the stock in a research note on Thursday, March 21st. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $122.20.

Micron Technology Price Performance

Micron Technology stock traded up $3.34 during mid-day trading on Tuesday, hitting $112.46. 17,854,605 shares of the company were exchanged, compared to its average volume of 20,590,105. The company has a debt-to-equity ratio of 0.30, a current ratio of 3.74 and a quick ratio of 2.40. The business’s 50 day simple moving average is $103.42 and its two-hundred day simple moving average is $87.22. The company has a market capitalization of $124.53 billion, a P/E ratio of -32.60 and a beta of 1.27. Micron Technology, Inc. has a 12-month low of $58.03 and a 12-month high of $130.54.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings data on Wednesday, March 20th. The semiconductor manufacturer reported $0.42 EPS for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.69. Micron Technology had a negative return on equity of 8.98% and a negative net margin of 20.57%. The business had revenue of $5.82 billion during the quarter, compared to the consensus estimate of $5.35 billion. During the same quarter in the previous year, the business earned ($2.03) earnings per share. The business’s revenue for the quarter was up 57.7% on a year-over-year basis. Analysts forecast that Micron Technology, Inc. will post 0.24 earnings per share for the current fiscal year.

Micron Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 16th. Shareholders of record on Monday, April 1st were paid a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.41%. The ex-dividend date of this dividend was Thursday, March 28th. Micron Technology’s dividend payout ratio is presently -13.33%.

Insiders Place Their Bets

In other news, CEO Sanjay Mehrotra sold 7,000 shares of the stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $87.02, for a total transaction of $609,140.00. Following the sale, the chief executive officer now directly owns 788,557 shares in the company, valued at approximately $68,620,230.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Sanjay Mehrotra sold 7,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $87.02, for a total value of $609,140.00. Following the sale, the chief executive officer now directly owns 788,557 shares in the company, valued at approximately $68,620,230.14. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP April S. Arnzen sold 4,890 shares of the firm’s stock in a transaction that occurred on Wednesday, March 27th. The shares were sold at an average price of $119.30, for a total value of $583,377.00. Following the completion of the sale, the executive vice president now owns 148,817 shares in the company, valued at $17,753,868.10. The disclosure for this sale can be found here. Insiders have sold a total of 306,890 shares of company stock worth $33,005,157 over the last quarter. 0.32% of the stock is owned by corporate insiders.

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.