Lindbrook Capital LLC Acquires 368 Shares of Micron Technology, Inc. (NASDAQ:MU)

Lindbrook Capital LLC increased its holdings in Micron Technology, Inc. (NASDAQ:MUFree Report) by 8.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 4,518 shares of the semiconductor manufacturer’s stock after buying an additional 368 shares during the period. Lindbrook Capital LLC’s holdings in Micron Technology were worth $386,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Sandy Spring Bank grew its holdings in Micron Technology by 11.1% in the 4th quarter. Sandy Spring Bank now owns 1,305 shares of the semiconductor manufacturer’s stock worth $111,000 after acquiring an additional 130 shares during the last quarter. HMS Capital Management LLC boosted its stake in shares of Micron Technology by 0.7% during the 4th quarter. HMS Capital Management LLC now owns 19,842 shares of the semiconductor manufacturer’s stock valued at $1,693,000 after purchasing an additional 138 shares in the last quarter. Huntington National Bank boosted its stake in shares of Micron Technology by 6.0% during the 3rd quarter. Huntington National Bank now owns 2,652 shares of the semiconductor manufacturer’s stock valued at $180,000 after purchasing an additional 149 shares in the last quarter. Allworth Financial LP boosted its stake in shares of Micron Technology by 3.0% during the 4th quarter. Allworth Financial LP now owns 5,125 shares of the semiconductor manufacturer’s stock valued at $437,000 after purchasing an additional 150 shares in the last quarter. Finally, Homestead Advisers Corp boosted its stake in shares of Micron Technology by 12.5% during the 3rd quarter. Homestead Advisers Corp now owns 1,372 shares of the semiconductor manufacturer’s stock valued at $93,000 after purchasing an additional 152 shares in the last quarter. 80.84% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have recently weighed in on MU. Piper Sandler lifted their target price on shares of Micron Technology from $95.00 to $130.00 and gave the company an “overweight” rating in a research note on Thursday, March 21st. Fox Advisors raised shares of Micron Technology from an “equal weight” rating to an “overweight” rating in a research note on Thursday, March 21st. Barclays boosted their price objective on shares of Micron Technology from $95.00 to $120.00 and gave the stock an “overweight” rating in a research note on Monday, March 18th. Raymond James boosted their price objective on shares of Micron Technology from $90.00 to $100.00 and gave the stock an “outperform” rating in a research note on Friday, January 19th. Finally, UBS Group boosted their price objective on shares of Micron Technology from $95.00 to $120.00 and gave the stock a “buy” rating in a research note on Tuesday, March 19th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and twenty-four have given a buy rating to the company’s stock. According to MarketBeat.com, Micron Technology currently has an average rating of “Moderate Buy” and a consensus target price of $122.20.

Read Our Latest Report on Micron Technology

Micron Technology Stock Performance

Shares of NASDAQ MU opened at $106.77 on Monday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.40 and a current ratio of 3.74. The company has a market cap of $118.23 billion, a P/E ratio of -30.95 and a beta of 1.27. The firm’s fifty day moving average is $102.95 and its two-hundred day moving average is $86.93. Micron Technology, Inc. has a 52-week low of $58.03 and a 52-week high of $130.54.

Micron Technology (NASDAQ:MUGet Free Report) last announced its quarterly earnings results on Wednesday, March 20th. The semiconductor manufacturer reported $0.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.69. The company had revenue of $5.82 billion for the quarter, compared to the consensus estimate of $5.35 billion. Micron Technology had a negative net margin of 20.57% and a negative return on equity of 8.98%. Micron Technology’s revenue for the quarter was up 57.7% compared to the same quarter last year. During the same period in the previous year, the firm posted ($2.03) EPS. As a group, analysts anticipate that Micron Technology, Inc. will post 0.24 EPS for the current fiscal year.

Micron Technology Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 16th. Stockholders of record on Monday, April 1st were issued a $0.115 dividend. The ex-dividend date of this dividend was Thursday, March 28th. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.43%. Micron Technology’s dividend payout ratio (DPR) is presently -13.33%.

Insider Transactions at Micron Technology

In related news, CEO Sanjay Mehrotra sold 7,000 shares of Micron Technology stock in a transaction dated Tuesday, April 16th. The shares were sold at an average price of $120.70, for a total transaction of $844,900.00. Following the completion of the transaction, the chief executive officer now directly owns 719,049 shares of the company’s stock, valued at approximately $86,789,214.30. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, EVP April S. Arnzen sold 4,890 shares of Micron Technology stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $119.30, for a total transaction of $583,377.00. Following the completion of the transaction, the executive vice president now directly owns 148,817 shares of the company’s stock, valued at approximately $17,753,868.10. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Sanjay Mehrotra sold 7,000 shares of the business’s stock in a transaction dated Tuesday, April 16th. The shares were sold at an average price of $120.70, for a total transaction of $844,900.00. Following the completion of the sale, the chief executive officer now directly owns 719,049 shares of the company’s stock, valued at $86,789,214.30. The disclosure for this sale can be found here. Insiders have sold a total of 313,890 shares of company stock worth $33,617,027 in the last three months. 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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