New Century Financial Group LLC Has $763,000 Holdings in Micron Technology, Inc. (NASDAQ:MU)

New Century Financial Group LLC decreased its holdings in Micron Technology, Inc. (NASDAQ:MU) by 2.5% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,474 shares of the semiconductor manufacturer’s stock after selling 169 shares during the quarter. New Century Financial Group LLC’s holdings in Micron Technology were worth $763,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the business. TCW Group Inc. grew its stake in Micron Technology by 5.7% during the fourth quarter. TCW Group Inc. now owns 531,637 shares of the semiconductor manufacturer’s stock worth $45,383,000 after buying an additional 28,649 shares in the last quarter. Gulf International Bank UK Ltd boosted its position in shares of Micron Technology by 6.3% during the 1st quarter. Gulf International Bank UK Ltd now owns 99,839 shares of the semiconductor manufacturer’s stock worth $11,770,000 after acquiring an additional 5,958 shares in the last quarter. Savoie Capital LLC bought a new position in Micron Technology in the third quarter valued at approximately $4,229,000. TrinityPoint Wealth LLC raised its position in Micron Technology by 33.9% during the fourth quarter. TrinityPoint Wealth LLC now owns 34,540 shares of the semiconductor manufacturer’s stock valued at $2,948,000 after purchasing an additional 8,736 shares in the last quarter. Finally, Kingswood Wealth Advisors LLC lifted its stake in Micron Technology by 176.9% during the fourth quarter. Kingswood Wealth Advisors LLC now owns 15,802 shares of the semiconductor manufacturer’s stock worth $1,349,000 after purchasing an additional 10,096 shares during the last quarter. Institutional investors own 80.84% of the company’s stock.

Insider Buying and Selling at Micron Technology

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of the business’s stock in a transaction on Thursday, June 27th. The shares were sold at an average price of $135.86, for a total transaction of $664,355.40. Following the completion of the sale, the executive vice president now owns 142,321 shares in the company, valued at approximately $19,335,731.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of Micron Technology stock in a transaction dated Thursday, June 27th. The stock was sold at an average price of $135.86, for a total transaction of $664,355.40. Following the completion of the transaction, the executive vice president now owns 142,321 shares in the company, valued at approximately $19,335,731.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Sanjay Mehrotra sold 34,284 shares of the stock in a transaction that occurred on Tuesday, June 18th. The stock was sold at an average price of $152.28, for a total value of $5,220,767.52. Following the completion of the sale, the chief executive officer now directly owns 719,049 shares of the company’s stock, valued at $109,496,781.72. The disclosure for this sale can be found here. Over the last quarter, insiders sold 257,730 shares of company stock valued at $31,921,649. Company insiders own 0.32% of the company’s stock.

Micron Technology Trading Up 3.2 %

Shares of MU stock traded up $4.23 during trading hours on Thursday, hitting $136.82. 14,507,146 shares of the company were exchanged, compared to its average volume of 27,836,970. The company has a 50 day simple moving average of $129.42 and a two-hundred day simple moving average of $107.38. The firm has a market cap of $151.71 billion, a P/E ratio of -96.35 and a beta of 1.18. The company has a debt-to-equity ratio of 0.29, a quick ratio of 2.16 and a current ratio of 3.41. Micron Technology, Inc. has a fifty-two week low of $60.50 and a fifty-two week high of $157.54.

Micron Technology (NASDAQ:MU) last posted its quarterly earnings results on Wednesday, June 26th. The semiconductor manufacturer reported $0.62 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.14. Micron Technology had a negative net margin of 7.20% and a negative return on equity of 4.01%. The business had revenue of $6.81 billion during the quarter, compared to analysts’ expectations of $6.67 billion. During the same period last year, the company posted ($1.57) earnings per share. The business’s quarterly revenue was up 81.5% on a year-over-year basis. Equities analysts anticipate that Micron Technology, Inc. will post 0.58 EPS for the current year.

Micron Technology Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 23rd. Shareholders of record on Monday, July 8th will be issued a $0.115 dividend. The ex-dividend date of this dividend is Monday, July 8th. This represents a $0.46 annualized dividend and a yield of 0.34%. Micron Technology’s payout ratio is currently -32.39%.

Analyst Upgrades and Downgrades

MU has been the topic of a number of research analyst reports. Argus upgraded shares of Micron Technology from a “hold” rating to a “buy” rating and set a $140.00 target price on the stock in a research report on Thursday, March 21st. Piper Sandler raised their price objective on Micron Technology from $130.00 to $150.00 and gave the company an “overweight” rating in a report on Thursday, June 27th. TD Cowen upped their target price on Micron Technology from $150.00 to $160.00 and gave the stock a “buy” rating in a report on Thursday, June 27th. UBS Group dropped their target price on Micron Technology from $155.00 to $153.00 and set a “buy” rating for the company in a research report on Thursday, June 27th. Finally, Citigroup boosted their price target on Micron Technology from $150.00 to $175.00 and gave the stock a “buy” rating in a report on Monday, June 24th. Two analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $158.52.

Micron Technology 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.