Corebridge Financial Inc. Has $29.27 Million Stake in Micron Technology, Inc. (NASDAQ:MU)

Corebridge Financial Inc. reduced its holdings in shares of Micron Technology, Inc. (NASDAQ:MU) by 3.4% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 347,806 shares of the semiconductor manufacturer’s stock after selling 12,287 shares during the quarter. Corebridge Financial Inc.’s holdings in Micron Technology were worth $29,271,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Swedbank AB raised its holdings in Micron Technology by 30.4% in the 3rd quarter. Swedbank AB now owns 3,455,819 shares of the semiconductor manufacturer’s stock valued at $358,403,000 after acquiring an additional 806,639 shares during the period. Jennison Associates LLC bought a new position in shares of Micron Technology during the third quarter worth approximately $1,114,000. Meridian Wealth Management LLC bought a new position in shares of Micron Technology during the third quarter worth approximately $730,000. Stonebrook Private Inc. lifted its holdings in Micron Technology by 4.2% during the 3rd quarter. Stonebrook Private Inc. now owns 2,454 shares of the semiconductor manufacturer’s stock worth $255,000 after purchasing an additional 98 shares during the last quarter. Finally, Great Valley Advisor Group Inc. boosted its stake in Micron Technology by 31.0% in the 3rd quarter. Great Valley Advisor Group Inc. now owns 12,357 shares of the semiconductor manufacturer’s stock valued at $1,282,000 after purchasing an additional 2,926 shares during the period. 80.84% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on MU shares. KGI Securities raised Micron Technology to a “strong-buy” rating in a report on Friday, February 21st. The Goldman Sachs Group cut their price objective on shares of Micron Technology from $145.00 to $128.00 and set a “buy” rating for the company in a report on Thursday, December 19th. UBS Group raised their target price on shares of Micron Technology from $125.00 to $130.00 and gave the stock a “buy” rating in a report on Monday, March 17th. Citigroup cut their price target on Micron Technology from $150.00 to $120.00 and set a “buy” rating for the company in a research note on Friday. Finally, Mizuho lowered their price objective on Micron Technology from $135.00 to $115.00 and set an “outperform” rating on the stock in a research note on Thursday, December 19th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $132.63.

Micron Technology Stock Down 8.0 %

Shares of NASDAQ:MU opened at $94.72 on Monday. Micron Technology, Inc. has a 52-week low of $83.54 and a 52-week high of $157.54. The company has a market capitalization of $105.53 billion, a PE ratio of 27.30 and a beta of 1.23. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.75 and a current ratio of 2.72. The company has a fifty day moving average of $96.82 and a 200-day moving average of $98.34.

Micron Technology (NASDAQ:MU) last issued its 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 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 revenue for the quarter was up 38.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.42 EPS. On average, equities analysts predict that Micron Technology, Inc. will post 6.08 EPS for the current fiscal year.

Micron Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be issued a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis 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%.

Insider Buying and Selling at Micron Technology

In other news, Director Mary Pat Mccarthy sold 2,404 shares of the firm’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $92.93, for a total transaction of $223,403.72. Following the completion of the transaction, the director now directly owns 27,358 shares in the company, valued at $2,542,378.94. This trade represents a 8.08 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.30% of the company’s stock.

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.