West Family Investments Inc. Takes Position in Micron Technology, Inc. (NASDAQ:MU)

West Family Investments Inc. acquired a new position in shares of Micron Technology, Inc. (NASDAQ:MU) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor acquired 3,281 shares of the semiconductor manufacturer’s stock, valued at approximately $276,000.

Other hedge funds have also modified their holdings of the company. Swedbank AB increased its stake in Micron Technology by 30.4% during the third quarter. Swedbank AB now owns 3,455,819 shares of the semiconductor manufacturer’s stock worth $358,403,000 after acquiring an additional 806,639 shares during the last quarter. M&G PLC increased its position in Micron Technology by 29.3% during the 3rd quarter. M&G PLC now owns 149,037 shares of the semiconductor manufacturer’s stock worth $15,500,000 after purchasing an additional 33,815 shares in the last quarter. Graypoint LLC raised its holdings in Micron Technology by 19.3% in the third quarter. Graypoint LLC now owns 11,705 shares of the semiconductor manufacturer’s stock valued at $1,214,000 after buying an additional 1,896 shares during the period. Principal Financial Group Inc. lifted its position in Micron Technology by 4.4% during the third quarter. Principal Financial Group Inc. now owns 1,255,931 shares of the semiconductor manufacturer’s stock valued at $130,253,000 after buying an additional 52,912 shares in the last quarter. Finally, Summit Global Investments grew its stake in Micron Technology by 21.1% during the third quarter. Summit Global Investments now owns 30,908 shares of the semiconductor manufacturer’s stock worth $3,205,000 after buying an additional 5,392 shares during the period. 80.84% of the stock is owned by institutional investors and hedge funds.

Micron Technology Price Performance

Shares of NASDAQ:MU opened at $92.96 on Friday. The company has a market cap of $103.57 billion, a PE ratio of 26.79 and a beta of 1.23. Micron Technology, Inc. has a fifty-two week low of $83.54 and a fifty-two week high of $157.54. The firm has a 50-day simple moving average of $95.99 and a 200 day simple moving average of $98.43. 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 posted its earnings results on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 EPS for the quarter, beating the consensus estimate of $1.60 by $0.19. The company had revenue of $8.71 billion during the quarter, compared to analyst estimates of $8.71 billion. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. The business’s revenue was up 84.3% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.95) earnings per share. On average, sell-side analysts anticipate that Micron Technology, Inc. will post 6.08 EPS for the current year.

Micron Technology Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Monday, December 30th were issued 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 was Monday, December 30th. Micron Technology’s dividend payout ratio (DPR) is 13.26%.

Insider Transactions at Micron Technology

In other Micron Technology 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 sale, the director now owns 27,358 shares of the company’s stock, valued at $2,542,378.94. The trade was a 8.08 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP April S. Arnzen sold 4,890 shares of Micron Technology stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $85.21, for a total transaction of $416,676.90. Following the sale, the executive vice president now owns 181,223 shares in the company, valued at approximately $15,442,011.83. This represents a 2.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.30% of the company’s stock.

Analyst Upgrades and Downgrades

MU has been the topic of a number of research reports. Piper Sandler cut their target price on shares of Micron Technology from $150.00 to $120.00 and set an “overweight” rating on the stock in a research note on Thursday, December 19th. UBS Group cut their price objective on Micron Technology from $135.00 to $125.00 and set a “buy” rating on the stock in a research report on Thursday, December 19th. Bank of America lowered Micron Technology from a “buy” rating to a “neutral” rating and lowered their target price for the company from $125.00 to $110.00 in a research note on Thursday, December 19th. Barclays dropped their target price 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, Mizuho decreased their price target on Micron Technology from $135.00 to $115.00 and set an “outperform” rating for the company in a report on Thursday, December 19th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $134.96.

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.