Amalgamated Bank Has $17.86 Million Stock Holdings in Micron Technology, Inc. (NASDAQ:MU)

Amalgamated Bank decreased its position in Micron Technology, Inc. (NASDAQ:MU) by 2.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 212,178 shares of the semiconductor manufacturer’s stock after selling 5,363 shares during the quarter. Amalgamated Bank’s holdings in Micron Technology were worth $17,857,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of MU. Bank of New York Mellon Corp boosted its holdings in shares of Micron Technology by 1.5% in the 4th quarter. Bank of New York Mellon Corp now owns 9,956,311 shares of the semiconductor manufacturer’s stock valued at $837,923,000 after buying an additional 144,897 shares during the last quarter. Pine Valley Investments Ltd Liability Co increased its position in Micron Technology by 1.5% during the 4th quarter. Pine Valley Investments Ltd Liability Co now owns 15,082 shares of the semiconductor manufacturer’s stock worth $1,269,000 after buying an additional 219 shares during the period. BankPlus Trust Department bought a new position in shares of Micron Technology in the fourth quarter worth $56,000. Quartz Partners LLC increased its position in shares of Micron Technology by 36.7% in the fourth quarter. Quartz Partners LLC now owns 2,738 shares of the semiconductor manufacturer’s stock worth $230,000 after purchasing an additional 735 shares during the period. Finally, W.G. Shaheen & Associates DBA Whitney & Co increased its position in shares of Micron Technology by 2.0% in the fourth quarter. W.G. Shaheen & Associates DBA Whitney & Co now owns 75,625 shares of the semiconductor manufacturer’s stock worth $6,365,000 after purchasing an additional 1,448 shares during the period. Institutional investors own 80.84% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on MU. Piper Sandler reduced their target price on Micron Technology from $150.00 to $120.00 and set an “overweight” rating on the stock in a report on Thursday, December 19th. Robert W. Baird cut their price target on Micron Technology from $150.00 to $130.00 and set an “outperform” rating for the company in a research note on Thursday, December 19th. Sanford C. Bernstein lowered their price target on Micron Technology from $140.00 to $120.00 and set an “outperform” rating on the stock in a report on Wednesday, December 18th. Barclays decreased their price objective on Micron Technology from $145.00 to $110.00 and set an “overweight” rating on the stock in a report on Friday, December 20th. Finally, 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. One research analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-three have given a buy rating to the company’s stock. According to data from MarketBeat, Micron Technology presently has an average rating of “Moderate Buy” and a consensus price target of $134.96.

Micron Technology Price Performance

NASDAQ MU opened at $95.41 on Tuesday. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.72 and a quick ratio of 1.75. The firm has a market capitalization of $106.30 billion, a PE ratio of 27.50 and a beta of 1.18. Micron Technology, Inc. has a 12 month low of $83.54 and a 12 month high of $157.54. The company’s 50 day simple moving average is $96.02 and its 200 day simple moving average is $98.93.

Micron Technology (NASDAQ:MU) last released its quarterly earnings data on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.60 by $0.19. Micron Technology had a net margin of 13.34% and a return on equity of 8.32%. The business had revenue of $8.71 billion during the quarter, compared to analyst estimates of $8.71 billion. During the same quarter in the previous year, the business earned ($0.95) EPS. Micron Technology’s quarterly revenue was up 84.3% compared to the same quarter last year. As a group, equities research analysts forecast that Micron Technology, Inc. will post 6.08 EPS for the current fiscal year.

Micron Technology Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Monday, December 30th were paid a $0.115 dividend. This represents a $0.46 annualized dividend and a yield of 0.48%. The ex-dividend date of this dividend was Monday, December 30th. Micron Technology’s payout ratio is presently 13.26%.

Insider Buying and Selling at Micron Technology

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of the firm’s stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $85.21, for a total value 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 trade represents a 2.63 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.30% of the company’s stock.

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.