Massachusetts Financial Services Co. MA Cuts Position in Micron Technology, Inc. (NASDAQ:MU)

Massachusetts Financial Services Co. MA trimmed its holdings in shares of Micron Technology, Inc. (NASDAQ:MUFree Report) by 11.1% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 30,319 shares of the semiconductor manufacturer’s stock after selling 3,795 shares during the period. Massachusetts Financial Services Co. MA’s holdings in Micron Technology were worth $2,063,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. Amalgamated Bank boosted its position in Micron Technology by 5.2% during the 3rd quarter. Amalgamated Bank now owns 293,007 shares of the semiconductor manufacturer’s stock valued at $19,933,000 after purchasing an additional 14,506 shares during the period. Exencial Wealth Advisors LLC acquired a new position in shares of Micron Technology during the third quarter valued at $372,000. Fidelis Capital Partners LLC grew its position in shares of Micron Technology by 6.0% during the third quarter. Fidelis Capital Partners LLC now owns 11,811 shares of the semiconductor manufacturer’s stock worth $803,000 after acquiring an additional 664 shares during the last quarter. J.P. Morgan Private Wealth Advisors LLC acquired a new stake in shares of Micron Technology in the 3rd quarter worth about $2,200,000. Finally, Kestra Private Wealth Services LLC lifted its position in Micron Technology by 46.3% in the 3rd quarter. Kestra Private Wealth Services LLC now owns 75,658 shares of the semiconductor manufacturer’s stock valued at $5,147,000 after purchasing an additional 23,949 shares during the last quarter. 79.25% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Evercore ISI upped their target price on shares of Micron Technology from $90.00 to $100.00 and gave the stock an “outperform” rating in a research report on Thursday, December 21st. BMO Capital Markets boosted their price target on Micron Technology from $80.00 to $90.00 and gave the stock an “outperform” rating in a research report on Monday, December 18th. Piper Sandler raised shares of Micron Technology from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $70.00 to $95.00 in a report on Thursday, January 4th. UBS Group raised their target price on shares of Micron Technology from $90.00 to $95.00 and gave the company a “buy” rating in a research note on Thursday, December 21st. Finally, Bank of America upped their price target on shares of Micron Technology from $95.00 to $100.00 and gave the stock a “buy” rating in a research note on Thursday, December 21st. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and twenty-two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $94.95.

View Our Latest Stock Report on MU

Micron Technology Trading Up 0.2 %

Shares of NASDAQ:MU opened at $85.70 on Tuesday. The firm has a fifty day moving average of $83.68 and a two-hundred day moving average of $74.76. The company has a quick ratio of 2.14, a current ratio of 3.53 and a debt-to-equity ratio of 0.29. Micron Technology, Inc. has a 12-month low of $52.76 and a 12-month high of $90.04. The firm has a market capitalization of $94.61 billion, a P/E ratio of -13.65 and a beta of 1.24.

Micron Technology (NASDAQ:MUGet Free Report) last posted its quarterly earnings results on Wednesday, December 20th. The semiconductor manufacturer reported ($0.95) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.01) by $0.06. The company had revenue of $4.73 billion during the quarter, compared to the consensus estimate of $4.58 billion. Micron Technology had a negative return on equity of 14.44% and a negative net margin of 42.47%. The business’s quarterly revenue was up 15.7% on a year-over-year basis. During the same period last year, the business earned ($0.15) EPS. On average, equities analysts expect that Micron Technology, Inc. will post -0.99 EPS for the current fiscal year.

Micron Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 18th. Shareholders of record on Tuesday, January 2nd were given a dividend of $0.115 per share. This represents a $0.46 annualized dividend and a yield of 0.54%. The ex-dividend date was Friday, December 29th. Micron Technology’s payout ratio is -7.32%.

Insiders Place Their Bets

In other news, CEO Sanjay Mehrotra sold 7,000 shares of the stock in a transaction dated Tuesday, November 28th. The stock was sold at an average price of $75.07, for a total transaction of $525,490.00. Following the transaction, the chief executive officer now owns 748,759 shares of the company’s stock, valued at approximately $56,209,338.13. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, CEO Sanjay Mehrotra sold 7,000 shares of the company’s stock in a transaction on Tuesday, November 28th. The shares were sold at an average price of $75.07, for a total transaction of $525,490.00. Following the completion of the sale, the chief executive officer now directly owns 748,759 shares of the company’s stock, valued at approximately $56,209,338.13. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Scott J. Deboer sold 28,228 shares of Micron Technology stock in a transaction on Wednesday, December 27th. The stock was sold at an average price of $87.24, for a total transaction of $2,462,610.72. Following the completion of the transaction, the executive vice president now owns 203,342 shares in the company, valued at approximately $17,739,556.08. The disclosure for this sale can be found here. Insiders sold 277,228 shares of company stock valued at $22,985,851 over the last quarter. Insiders own 0.32% of the company’s stock.

Micron Technology Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Micron Technology (NASDAQ:MU)

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