Altshuler Shaham Ltd Purchases 15,577 Shares of Micron Technology, Inc. (NASDAQ:MU)

Altshuler Shaham Ltd lifted its holdings in shares of Micron Technology, Inc. (NASDAQ:MU) by 1.4% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,142,226 shares of the semiconductor manufacturer’s stock after acquiring an additional 15,577 shares during the period. Micron Technology accounts for approximately 5.1% of Altshuler Shaham Ltd’s investment portfolio, making the stock its 8th biggest holding. Altshuler Shaham Ltd owned approximately 0.10% of Micron Technology worth $150,237,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in MU. Atria Investments Inc boosted its stake in Micron Technology by 0.3% in the first quarter. Atria Investments Inc now owns 27,749 shares of the semiconductor manufacturer’s stock valued at $3,269,000 after acquiring an additional 93 shares in the last quarter. Aspect Partners LLC lifted its stake in Micron Technology by 39.8% in the second quarter. Aspect Partners LLC now owns 330 shares of the semiconductor manufacturer’s stock valued at $43,000 after buying an additional 94 shares during the last quarter. Revolve Wealth Partners LLC lifted its stake in Micron Technology by 1.5% in the first quarter. Revolve Wealth Partners LLC now owns 6,582 shares of the semiconductor manufacturer’s stock valued at $776,000 after buying an additional 98 shares during the last quarter. Ameritas Advisory Services LLC boosted its holdings in shares of Micron Technology by 1.3% in the second quarter. Ameritas Advisory Services LLC now owns 7,625 shares of the semiconductor manufacturer’s stock valued at $1,003,000 after acquiring an additional 98 shares during the period. Finally, LRI Investments LLC grew its position in shares of Micron Technology by 57.2% during the second quarter. LRI Investments LLC now owns 272 shares of the semiconductor manufacturer’s stock worth $36,000 after acquiring an additional 99 shares during the last quarter. Hedge funds and other institutional investors own 80.84% of the company’s stock.

Analyst Ratings Changes

MU has been the subject of a number of recent research reports. Piper Sandler increased their price target on shares of Micron Technology from $130.00 to $150.00 and gave the stock an “overweight” rating in a research note on Thursday, June 27th. Wells Fargo & Company decreased their target price on shares of Micron Technology from $190.00 to $175.00 and set an “overweight” rating for the company in a research note on Wednesday, September 18th. Wolfe Research boosted their price target on Micron Technology from $150.00 to $200.00 and gave the company an “outperform” rating in a research report on Friday, June 21st. Mizuho increased their price objective on Micron Technology from $150.00 to $155.00 and gave the stock a “buy” rating in a research report on Friday, May 31st. Finally, TD Cowen cut their price target on Micron Technology from $160.00 to $115.00 and set a “buy” rating for the company in a research note on Thursday. One research analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-five have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $145.65.

Insiders Place Their Bets

In related news, EVP April S. Arnzen sold 4,890 shares of Micron Technology stock in a transaction on Thursday, June 27th. The stock was sold at an average price of $135.86, for a total value of $664,355.40. Following the transaction, the executive vice president now owns 142,321 shares in the company, valued at $19,335,731.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.32% of the stock is currently owned by insiders.

Micron Technology Price Performance

NASDAQ:MU opened at $90.90 on Monday. Micron Technology, Inc. has a 12-month low of $63.83 and a 12-month high of $157.54. The firm has a market cap of $100.79 billion, a price-to-earnings ratio of -64.01 and a beta of 1.17. The company’s 50-day moving average is $99.81 and its two-hundred day moving average is $114.83. The company has a current ratio of 3.41, a quick ratio of 2.16 and a debt-to-equity ratio of 0.29.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings data on Wednesday, June 26th. The semiconductor manufacturer reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.14. The business had revenue of $6.81 billion for the quarter, compared to the consensus estimate of $6.67 billion. Micron Technology had a negative net margin of 7.20% and a negative return on equity of 4.01%. The company’s quarterly revenue was up 81.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($1.57) earnings per share. Research analysts expect that Micron Technology, Inc. will post 0.61 EPS for the current year.

Micron Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 23rd. Stockholders of record on Monday, July 8th were paid a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.51%. The ex-dividend date was Monday, July 8th. Micron Technology’s dividend payout ratio is currently -32.39%.

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.