Micron Technology, Inc. (NASDAQ:MU) Shares Sold by University of Texas Texas AM Investment Management Co.

University of Texas Texas AM Investment Management Co. trimmed its position in Micron Technology, Inc. (NASDAQ:MU) by 15.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 28,006 shares of the semiconductor manufacturer’s stock after selling 5,058 shares during the quarter. Micron Technology comprises 0.7% of University of Texas Texas AM Investment Management Co.’s investment portfolio, making the stock its 28th biggest position. University of Texas Texas AM Investment Management Co.’s holdings in Micron Technology were worth $3,684,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the company. Price T Rowe Associates Inc. MD lifted its position in Micron Technology by 22.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 18,243,633 shares of the semiconductor manufacturer’s stock valued at $2,150,743,000 after buying an additional 3,315,988 shares during the last quarter. Capital International Investors lifted its holdings in shares of Micron Technology by 15.1% in the 1st quarter. Capital International Investors now owns 18,303,506 shares of the semiconductor manufacturer’s stock worth $2,157,800,000 after acquiring an additional 2,397,885 shares during the last quarter. Swedbank AB increased its holdings in Micron Technology by 473.8% in the 2nd quarter. Swedbank AB now owns 2,649,180 shares of the semiconductor manufacturer’s stock valued at $348,447,000 after purchasing an additional 2,187,460 shares during the last quarter. 1832 Asset Management L.P. raised its position in Micron Technology by 301,500.0% in the first quarter. 1832 Asset Management L.P. now owns 1,809,600 shares of the semiconductor manufacturer’s stock valued at $213,334,000 after purchasing an additional 1,809,000 shares during the period. Finally, Van ECK Associates Corp lifted its stake in Micron Technology by 28.9% during the first quarter. Van ECK Associates Corp now owns 7,566,572 shares of the semiconductor manufacturer’s stock worth $892,023,000 after purchasing an additional 1,695,876 shares in the last quarter. Hedge funds and other institutional investors own 80.84% of the company’s stock.

Insider Buying and Selling

In other news, EVP April S. Arnzen sold 4,890 shares of the business’s stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $113.00, for a total value of $552,570.00. Following the completion of the transaction, the executive vice president now owns 135,830 shares of the company’s stock, valued at $15,348,790. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 0.32% of the stock is currently owned by company insiders.

Micron Technology Stock Performance

NASDAQ:MU opened at $100.31 on Wednesday. The firm’s fifty day simple moving average is $97.12 and its 200-day simple moving average is $115.10. The company has a quick ratio of 2.16, a current ratio of 3.41 and a debt-to-equity ratio of 0.29. The stock has a market cap of $111.23 billion, a PE ratio of -70.64, a price-to-earnings-growth ratio of 0.20 and a beta of 1.17. Micron Technology, Inc. has a fifty-two week low of $63.88 and a fifty-two week high of $157.54.

Micron Technology (NASDAQ:MU) last released its quarterly earnings results on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 earnings per share for the quarter, topping analysts’ consensus estimates of $0.97 by $0.21. The business had revenue of $7.75 billion for the quarter, compared to analysts’ expectations of $7.65 billion. Micron Technology had a negative return on equity of 4.01% and a negative net margin of 7.20%. The company’s revenue was up 93.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($1.21) EPS. Analysts expect that Micron Technology, Inc. will post 0.61 earnings per share for the current fiscal year.

Micron Technology Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 23rd. Shareholders of record on Monday, October 7th will be given a dividend of $0.115 per share. This represents a $0.46 annualized dividend and a yield of 0.46%. The ex-dividend date is Monday, October 7th. Micron Technology’s payout ratio is -32.39%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the stock. Cantor Fitzgerald reissued an “overweight” rating and issued a $150.00 price objective on shares of Micron Technology in a research note on Tuesday. Morgan Stanley increased their price objective on Micron Technology from $100.00 to $114.00 and gave the company an “equal weight” rating in a research note on Thursday, September 26th. Wolfe Research lifted their target price on Micron Technology from $150.00 to $200.00 and gave the company an “outperform” rating in a report on Friday, June 21st. Piper Sandler upped their price target on Micron Technology from $130.00 to $150.00 and gave the stock an “overweight” rating in a report on Thursday, June 27th. Finally, BNP Paribas lowered Micron Technology from an “outperform” rating to an “underperform” rating and reduced their price target for the company from $140.00 to $67.00 in a research report on Thursday, September 12th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and twenty-five have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $143.23.

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.