Schroder Investment Management Group Raises Holdings in Micron Technology, Inc. (NASDAQ:MU)

Schroder Investment Management Group raised its position in shares of Micron Technology, Inc. (NASDAQ:MU) by 16.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 564,884 shares of the semiconductor manufacturer’s stock after acquiring an additional 79,323 shares during the period. Schroder Investment Management Group owned approximately 0.05% of Micron Technology worth $47,541,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Trivant Custom Portfolio Group LLC increased its stake in shares of Micron Technology by 20.0% during the fourth quarter. Trivant Custom Portfolio Group LLC now owns 600 shares of the semiconductor manufacturer’s stock valued at $50,000 after acquiring an additional 100 shares during the period. Xcel Wealth Management LLC boosted its stake in Micron Technology by 1.8% during the 4th quarter. Xcel Wealth Management LLC now owns 6,157 shares of the semiconductor manufacturer’s stock valued at $518,000 after purchasing an additional 108 shares in the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors increased its position in shares of Micron Technology by 3.8% during the 4th quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 2,973 shares of the semiconductor manufacturer’s stock valued at $250,000 after purchasing an additional 108 shares during the period. Lebenthal Global Advisors LLC raised its stake in shares of Micron Technology by 1.5% in the 4th quarter. Lebenthal Global Advisors LLC now owns 7,474 shares of the semiconductor manufacturer’s stock worth $629,000 after buying an additional 114 shares in the last quarter. Finally, Register Financial Advisors LLC lifted its holdings in shares of Micron Technology by 1.1% in the fourth quarter. Register Financial Advisors LLC now owns 11,526 shares of the semiconductor manufacturer’s stock valued at $970,000 after buying an additional 121 shares during the period. 80.84% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have commented on MU. TD Cowen dropped their price target on shares of Micron Technology from $135.00 to $125.00 and set a “buy” rating on the stock in a research report on Thursday, December 19th. Robert W. Baird boosted their target price on shares of Micron Technology from $130.00 to $163.00 and gave the stock an “outperform” rating in a report on Friday, March 21st. Piper Sandler reduced their target price on shares of Micron Technology from $150.00 to $120.00 and set an “overweight” rating for the company in a report on Thursday, December 19th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $130.00 price target on shares of Micron Technology in a report on Friday, March 21st. Finally, JPMorgan Chase & Co. reduced their price objective on Micron Technology from $145.00 to $135.00 and set an “overweight” rating for the company in a research note on Friday, March 21st. One research analyst has rated the stock with a sell rating, three have issued a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $129.76.

Micron Technology Stock Down 1.8 %

Micron Technology stock opened at $86.89 on Tuesday. The company has a current ratio of 2.72, a quick ratio of 1.75 and a debt-to-equity ratio of 0.28. Micron Technology, Inc. has a 1-year low of $83.54 and a 1-year high of $157.54. The firm’s fifty day simple moving average is $95.62 and its 200-day simple moving average is $98.51. The company has a market capitalization of $97.11 billion, a P/E ratio of 25.04 and a beta of 1.23.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings results on Thursday, March 20th. The semiconductor manufacturer reported $1.56 earnings per share for the quarter, topping analysts’ consensus estimates of $1.43 by $0.13. The company had revenue of $8.05 billion during the quarter, compared to analysts’ expectations of $7.93 billion. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. The business’s quarterly revenue was up 38.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.42 earnings per share. Sell-side analysts forecast that Micron Technology, Inc. will post 6.08 earnings per share for the current fiscal year.

Micron Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be issued a dividend of $0.115 per share. This represents a $0.46 annualized dividend and a dividend yield of 0.53%. The ex-dividend date is Monday, March 31st. Micron Technology’s dividend payout ratio is currently 11.03%.

Insider Activity at Micron Technology

In other Micron Technology news, EVP April S. Arnzen sold 15,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 25th. The stock was sold at an average price of $96.18, for a total value of $1,442,700.00. Following the sale, the executive vice president now owns 164,769 shares of the company’s stock, valued at $15,847,482.42. This trade represents a 8.34 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Mary Pat Mccarthy sold 2,404 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $92.93, for a total value of $223,403.72. Following the transaction, the director now owns 27,358 shares of the company’s stock, valued at approximately $2,542,378.94. This trade represents a 8.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.30% of the stock is currently owned by company insiders.

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.