Privium Fund Management BV purchased new shares of Micron Technology, Inc. (NASDAQ: MU – Get Rated ), according to its most recent disclosure to the SEC, for the third quarter. Institutional investors bought 12,500 shares of the semiconductor maker, worth about $625,000.
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Other hedge funds also adjusted their positions in the company. Ensign Peak Advisors Inc boosted its stake in Micron Technology by 12.1% in the second quarter. Ensign Peak Advisors Inc now owns 979,255 shares of the semiconductor maker worth $54,134,000 after buying an additional 105,788 shares last quarter. The Whittier Trust or Nevada Corporation increased its stake in Micron Technology by 29.0% in the third quarter. The Whittier Trust or Nevada Corporation now owns 1,711 shares of the semiconductor maker, worth $86,000, after buying an additional 385 shares last quarter. DuPont Capital Management increased its stake in Micron Technology by 118.1% in the second quarter. DuPont Capital Management now owns 21,775 shares of the semiconductor maker, worth $1,204,000, after purchasing an additional 11,789 shares during the period. First Hawaiian Bank increased its stake in Micron Technology by 26.7% in the second quarter. First Hawaiian Bank now owns 7,517 shares of the semiconductor maker, worth $416,000, after buying an additional 1,584 shares last quarter. Finally, Meiji Yasuda Life Insurance Co increased its position in Micron Technology by 46.5% during the second quarter. Meiji Yasuda Life Insurance Co now owns 15,968 shares of the semiconductor maker, worth $883,000, after buying another 5,069 shares during the period. Institutional investors and hedge funds own 78.02% of the company.
Wall Street analysts forecast growth
MU has been the subject of many research analyst reports. Mizuho cut their price target on Micron Technology from $50.00 to $48.00 and set a “neutral” rating on the stock in a research note on Thursday, December 22nd. Morgan Stanley cut their price target on Micron Technology from $49.00 to $46.00 and set an “underweight” rating on the stock in a research note on Thursday, December 22nd. Piper Sandler cut their price target on Micron Technology from $50.00 to $45.00 and set an “underweight” rating on the company in a research report on Friday, September 30th. StockNews.com began coverage on shares of Micron Technology in a research report on Wednesday, October 12th. They have a “hold” rating on the stock. Finally, UBS cut their price target on Micron Technology from $75.00 to $70.00 and set a “buy” rating on the company in a research note on Thursday, December 22nd. Two equity research analysts have rated the stock with a sell rating, seven have given a hold rating and twenty-two have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $66.21.
Micron Technology Stock Performance
MU stock rose 97 cents to $57.33 on Friday. The company’s shares saw volume of 351,648 shares compared with an average volume of 14,622,278 shares. Micron Technology Inc. had a 52-week low of $48.43 and a 52-week high of $96.50. The company has a debt-to-equity ratio of 0.20, a current ratio of 3.51, and a quick ratio of 2.23. The company has a market cap of $62.56 billion, a price-to-earnings ratio of 10.23, and a beta of 1.30. The company’s 50-day moving average is $55.14 and its 200-day moving average is $56.28.
Micron Technology (NASDAQ: MU – Get Rating ) last reported earnings on Wednesday, December 21st. The semiconductor maker reported earnings per share ($0.04) for the quarter, missing analysts’ average estimate of $0.04 ($0.08). Micron Technology’s return on equity was 13.26%, and its net profit margin was 22.78%. The business reported revenue of $4.09 billion for the quarter, compared with the consensus estimate of $4.14 billion. In the same period last year, the company earned $2.07 per share. The company’s revenue fell 46.9% in the quarter compared to the same period last year. As a whole, analysts forecast Micron Technology Inc. Will post -2.51 EPS for the fiscal year.
Micron Technology Declares Dividend
The company also recently declared a quarterly dividend, which was paid on Thursday, January 19. Shareholders of record on Tuesday, January 3 received a $0.115 dividend. The ex-dividend date is Friday, December 30. This represents a $0.46 dividend and a yield of 0.80% annualized. Micron Technology’s dividend payout ratio (DPR) currently stands at 8.35%.
About Micron Technology
Micron Technology, Inc. designs, develops, manufactures and markets memory and storage products worldwide. The company operates through four segments: Computing and Networking Business Unit, Mobile Business Unit, Embedded Business Unit and Storage Business Unit. It provides memory and storage technologies, including DRAM products, which are dynamic random access memory semiconductor devices with low latency that provide high-speed data retrieval; NAND products, which are nonvolatile and rewritable semiconductor memory devices; NOR storage Products, which are non-volatile rewritable semiconductor memory devices offering fast read speeds under the Micron and Crucial brands and through its own brands.
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