Slow Capital Inc. Has $3.81 Million Stock Position in Micron Technology, Inc. (NASDAQ:MU)

Slow Capital Inc. lowered its position in shares of Micron Technology, Inc. (NASDAQ:MU) by 0.9% in the fourth quarter, HoldingsChannel reports. The fund owned 44,568 shares of the semiconductor manufacturer’s stock after selling 402 shares during the period. Slow Capital Inc.’s holdings in Micron Technology were worth $3,806,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Annis Gardner Whiting Capital Advisors LLC acquired a new stake in shares of Micron Technology in the 3rd quarter valued at approximately $28,000. OFI Invest Asset Management acquired a new stake in shares of Micron Technology in the 3rd quarter valued at approximately $27,000. VisionPoint Advisory Group LLC boosted its holdings in shares of Micron Technology by 68.3% in the 3rd quarter. VisionPoint Advisory Group LLC now owns 488 shares of the semiconductor manufacturer’s stock valued at $33,000 after buying an additional 198 shares during the last quarter. Coppell Advisory Solutions LLC acquired a new stake in shares of Micron Technology in the 2nd quarter valued at approximately $32,000. Finally, Fortis Capital Advisors LLC acquired a new stake in shares of Micron Technology in the 4th quarter valued at approximately $25,000. Institutional investors and hedge funds own 80.84% of the company’s stock.

Insider Activity at Micron Technology

In related news, CEO Sanjay Mehrotra sold 45,000 shares of the firm’s stock in a transaction dated Thursday, January 25th. The stock was sold at an average price of $90.00, for a total value of $4,050,000.00. Following the sale, the chief executive officer now directly owns 788,557 shares of the company’s stock, valued at $70,970,130. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, EVP April S. Arnzen sold 4,890 shares of Micron Technology stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $119.30, for a total transaction of $583,377.00. Following the sale, the executive vice president now directly owns 148,817 shares of the company’s stock, valued at $17,753,868.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Sanjay Mehrotra sold 45,000 shares of Micron Technology stock in a transaction dated Thursday, January 25th. The shares were sold at an average price of $90.00, for a total value of $4,050,000.00. Following the sale, the chief executive officer now directly owns 788,557 shares in the company, valued at $70,970,130. The disclosure for this sale can be found here. Insiders have sold 306,890 shares of company stock valued at $32,772,127 over the last ninety days. 0.32% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on MU shares. Barclays increased their price target on Micron Technology from $95.00 to $120.00 and gave the company an “overweight” rating in a research note on Monday, March 18th. Citigroup restated a “buy” rating and issued a $150.00 price target on shares of Micron Technology in a research note on Thursday, April 4th. Piper Sandler increased their price target on Micron Technology from $95.00 to $130.00 and gave the company an “overweight” rating in a research note on Thursday, March 21st. Wedbush increased their price target on Micron Technology from $103.00 to $130.00 and gave the company an “outperform” rating in a research note on Thursday, March 21st. Finally, Argus upgraded Micron Technology from a “hold” rating to a “buy” rating and set a $140.00 price target on the stock in a research note on Thursday, March 21st. 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 stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $122.20.

Micron Technology Price Performance

Shares of MU traded down $4.20 during trading hours on Wednesday, hitting $117.57. 10,921,291 shares of the company were exchanged, compared to its average volume of 20,086,314. The company has a market cap of $130.19 billion, a price-to-earnings ratio of -34.90 and a beta of 1.27. Micron Technology, Inc. has a fifty-two week low of $58.03 and a fifty-two week high of $130.54. The company has a quick ratio of 2.40, a current ratio of 3.74 and a debt-to-equity ratio of 0.30. The firm’s fifty day moving average is $101.36 and its 200 day moving average is $86.01.

Micron Technology (NASDAQ:MU) last released its quarterly earnings data on Wednesday, March 20th. The semiconductor manufacturer reported $0.42 earnings per share for the quarter, beating the consensus estimate of ($0.27) by $0.69. The business had revenue of $5.82 billion for the quarter, compared to analyst estimates of $5.35 billion. Micron Technology had a negative return on equity of 8.98% and a negative net margin of 20.57%. Micron Technology’s revenue was up 57.7% compared to the same quarter last year. During the same period last year, the firm posted ($2.03) earnings per share. On average, equities analysts anticipate that Micron Technology, Inc. will post 0.24 earnings per share for the current fiscal year.

Micron Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 16th. Investors of record on Monday, April 1st were paid a $0.115 dividend. This represents a $0.46 annualized dividend and a yield of 0.39%. The ex-dividend date was Thursday, March 28th. Micron Technology’s dividend payout ratio (DPR) is presently -13.33%.

Micron Technology Company 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.