Micron Technology, Inc. (NASDAQ:MU) Shares Acquired by Proficio Capital Partners LLC

Proficio Capital Partners LLC grew its stake in shares of Micron Technology, Inc. (NASDAQ:MU) by 74.7% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 4,056 shares of the semiconductor manufacturer’s stock after acquiring an additional 1,734 shares during the period. Proficio Capital Partners LLC’s holdings in Micron Technology were worth $341,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Harmony Asset Management LLC lifted its holdings in shares of Micron Technology by 75.6% in the third quarter. Harmony Asset Management LLC now owns 11,889 shares of the semiconductor manufacturer’s stock valued at $1,233,000 after purchasing an additional 5,120 shares in the last quarter. Lazard Freres Gestion S.A.S. lifted its stake in shares of Micron Technology by 241.7% in the 3rd quarter. Lazard Freres Gestion S.A.S. now owns 41,000 shares of the semiconductor manufacturer’s stock valued at $4,252,000 after purchasing an additional 29,000 shares during the last quarter. Stablepoint Partners LLC bought a new stake in Micron Technology in the fourth quarter worth $569,000. State Street Corp raised its holdings in Micron Technology by 3.1% during the third quarter. State Street Corp now owns 48,226,710 shares of the semiconductor manufacturer’s stock valued at $5,001,592,000 after buying an additional 1,434,568 shares in the last quarter. Finally, Main Management ETF Advisors LLC bought a new stake in shares of Micron Technology during the 3rd quarter worth about $2,414,000. 80.84% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have commented on the company. Needham & Company LLC lowered their price target on Micron Technology from $140.00 to $120.00 and set a “buy” rating on the stock in a report on Thursday, December 19th. Piper Sandler cut their price target on Micron Technology from $150.00 to $120.00 and set an “overweight” rating for the company in a report on Thursday, December 19th. JPMorgan Chase & Co. dropped their price objective on shares of Micron Technology from $145.00 to $135.00 and set an “overweight” rating on the stock in a report on Friday, March 21st. Citigroup reduced their target price on shares of Micron Technology from $150.00 to $120.00 and set a “buy” rating for the company in a research note on Friday, March 21st. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $130.00 price target on shares of Micron Technology in a report on Friday, March 21st. One research analyst has rated the stock with a sell rating, two have given a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Micron Technology presently has a consensus rating of “Moderate Buy” and an average target price of $132.63.

Insider Buying and Selling

In related news, Director Mary Pat Mccarthy sold 2,404 shares of Micron Technology stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $92.93, for a total transaction of $223,403.72. Following the completion of the sale, the director now directly owns 27,358 shares of the company’s stock, valued at $2,542,378.94. The trade was a 8.08 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.30% of the company’s stock.

Micron Technology Stock Performance

NASDAQ MU opened at $94.18 on Wednesday. Micron Technology, Inc. has a 1-year low of $83.54 and a 1-year high of $157.54. The company has a 50 day moving average of $96.80 and a 200-day moving average of $98.45. The company has a current ratio of 2.72, a quick ratio of 1.75 and a debt-to-equity ratio of 0.28. The firm has a market cap of $104.93 billion, a price-to-earnings ratio of 27.14 and a beta of 1.23.

Micron Technology (NASDAQ:MU) last released its quarterly earnings results on Thursday, March 20th. The semiconductor manufacturer reported $1.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.43 by $0.13. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. The business had revenue of $8.05 billion during the quarter, compared to analysts’ expectations of $7.93 billion. During the same period in the previous year, the business posted $0.42 earnings per share. The firm’s revenue for the quarter was up 38.2% compared to the same quarter last year. On average, equities analysts forecast that Micron Technology, Inc. will post 6.08 earnings per share for the current fiscal year.

Micron Technology Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be paid a dividend of $0.115 per share. This represents a $0.46 annualized dividend and a dividend yield of 0.49%. The ex-dividend date is Monday, March 31st. Micron Technology’s dividend payout ratio (DPR) is presently 11.03%.

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.