Micron Technology, Inc. (NASDAQ:MU) Shares Sold by Parametrica Management Ltd

Parametrica Management Ltd lowered its position in Micron Technology, Inc. (NASDAQ:MU) by 72.0% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 7,400 shares of the semiconductor manufacturer’s stock after selling 19,054 shares during the period. Micron Technology accounts for approximately 0.8% of Parametrica Management Ltd’s portfolio, making the stock its 21st biggest holding. Parametrica Management Ltd’s holdings in Micron Technology were worth $623,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of MU. Beacon Capital Management LLC boosted its position in Micron Technology by 114.9% in the 4th quarter. Beacon Capital Management LLC now owns 374 shares of the semiconductor manufacturer’s stock valued at $31,000 after buying an additional 200 shares during the period. True Wealth Design LLC lifted its holdings in shares of Micron Technology by 1,096.3% during the third quarter. True Wealth Design LLC now owns 323 shares of the semiconductor manufacturer’s stock worth $33,000 after purchasing an additional 296 shares during the period. Midwest Capital Advisors LLC acquired a new position in Micron Technology during the 4th quarter worth approximately $33,000. Stone House Investment Management LLC increased its holdings in shares of Micron Technology by 602.2% in the 3rd quarter. Stone House Investment Management LLC now owns 323 shares of the semiconductor manufacturer’s stock valued at $34,000 after purchasing an additional 277 shares in the last quarter. Finally, Activest Wealth Management raised its holdings in Micron Technology by 583.3% during the fourth quarter. Activest Wealth Management now owns 410 shares of the semiconductor manufacturer’s stock worth $34,000 after purchasing an additional 350 shares during the last quarter. 80.84% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Mary Pat Mccarthy sold 2,404 shares of Micron Technology stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $92.93, for a total value of $223,403.72. Following the completion of the sale, the director now owns 27,358 shares in the company, valued at $2,542,378.94. The trade was a 8.08 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.30% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on MU. Rosenblatt Securities cut their target price on shares of Micron Technology from $250.00 to $200.00 and set a “buy” rating for the company in a research note on Friday, March 21st. Bank of America lowered shares of Micron Technology from a “buy” rating to a “neutral” rating and cut their price target for the company from $125.00 to $110.00 in a report on Thursday, December 19th. Needham & Company LLC dropped their target price on Micron Technology from $140.00 to $120.00 and set a “buy” rating on the stock in a report on Thursday, December 19th. Piper Sandler dropped their target price on Micron Technology from $150.00 to $120.00 and set an “overweight” rating on the stock in a research report on Thursday, December 19th. Finally, Stifel Nicolaus reduced their target price on Micron Technology from $135.00 to $130.00 and set a “buy” rating on the stock in a report on Thursday, December 19th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $132.63.

Micron Technology Price Performance

NASDAQ:MU opened at $94.18 on Wednesday. Micron Technology, Inc. has a one year low of $83.54 and a one year high of $157.54. The company has a market cap of $104.93 billion, a P/E ratio of 27.14 and a beta of 1.23. The firm’s fifty day moving average price is $96.80 and its two-hundred day moving average price is $98.45. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.72 and a quick ratio of 1.75.

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

Micron Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be paid a $0.115 dividend. This represents a $0.46 annualized dividend and a yield of 0.49%. The ex-dividend date of this dividend is Monday, March 31st. Micron Technology’s payout ratio is 11.03%.

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.