Hardy Reed LLC Lowers Position in Micron Technology, Inc. (NASDAQ:MU)

Hardy Reed LLC lowered its holdings in Micron Technology, Inc. (NASDAQ:MU) by 7.3% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,539 shares of the semiconductor manufacturer’s stock after selling 594 shares during the period. Hardy Reed LLC’s holdings in Micron Technology were worth $634,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. State Street Corp raised its holdings in shares of Micron Technology by 3.1% during the 3rd 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. Primecap Management Co. CA raised its holdings in shares of Micron Technology by 0.6% during the 3rd quarter. Primecap Management Co. CA now owns 37,631,860 shares of the semiconductor manufacturer’s stock valued at $3,902,800,000 after buying an additional 206,499 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Micron Technology by 3.9% during the 3rd quarter. Geode Capital Management LLC now owns 23,723,545 shares of the semiconductor manufacturer’s stock valued at $2,451,987,000 after buying an additional 892,607 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Micron Technology by 21.7% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 11,326,224 shares of the semiconductor manufacturer’s stock valued at $1,174,643,000 after buying an additional 2,022,180 shares in the last quarter. Finally, Van ECK Associates Corp raised its holdings in shares of Micron Technology by 30.6% during the 3rd quarter. Van ECK Associates Corp now owns 10,564,198 shares of the semiconductor manufacturer’s stock valued at $1,109,769,000 after buying an additional 2,477,985 shares in the last quarter. Hedge funds and other institutional investors own 80.84% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on MU. Needham & Company LLC decreased their price objective on Micron Technology from $140.00 to $120.00 and set a “buy” rating on the stock in a report on Thursday, December 19th. Cantor Fitzgerald decreased their price target on Micron Technology from $150.00 to $130.00 and set an “overweight” rating on the stock in a research note on Thursday, December 19th. Sanford C. Bernstein lowered their price objective on Micron Technology from $140.00 to $120.00 and set an “outperform” rating for the company in a research report on Wednesday, December 18th. China Renaissance assumed coverage on Micron Technology in a research report on Monday, October 28th. They issued a “buy” rating and a $148.00 price objective for the company. Finally, Piper Sandler lowered their price objective on Micron Technology from $150.00 to $120.00 and set an “overweight” rating for the company in a research report on Thursday, December 19th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and twenty-three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $134.96.

Micron Technology Price Performance

Shares of MU stock opened at $104.36 on Thursday. The stock has a market cap of $116.27 billion, a price-to-earnings ratio of 30.07 and a beta of 1.18. The business’s fifty day moving average is $96.25 and its 200 day moving average is $98.67. Micron Technology, Inc. has a twelve month low of $79.15 and a twelve month high of $157.54. The company has a quick ratio of 1.75, a current ratio of 2.72 and a debt-to-equity ratio of 0.28.

Micron Technology (NASDAQ:MU) last issued its quarterly earnings results on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 earnings per share for the quarter, topping the consensus estimate of $1.60 by $0.19. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. The company had revenue of $8.71 billion for the quarter, compared to analysts’ expectations of $8.71 billion. During the same period in the prior year, the firm earned ($0.95) earnings per share. The firm’s revenue for the quarter was up 84.3% on a year-over-year basis. Research analysts expect that Micron Technology, Inc. will post 6.21 EPS for the current fiscal year.

Micron Technology Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Monday, December 30th were paid a $0.115 dividend. The ex-dividend date of this dividend was Monday, December 30th. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.44%. Micron Technology’s dividend payout ratio is currently 13.26%.

Insider Transactions at Micron Technology

In other news, EVP April S. Arnzen sold 4,890 shares of the company’s stock in a transaction on Friday, December 20th. The stock was sold at an average price of $85.21, for a total transaction of $416,676.90. Following the transaction, the executive vice president now directly owns 181,223 shares of the company’s stock, valued at $15,442,011.83. This represents a 2.63 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 0.30% of the company’s stock.

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.