Machina Capital S.A.S. Buys New Holdings in Micron Technology, Inc. (NASDAQ:MU)

Machina Capital S.A.S. purchased a new position in shares of Micron Technology, Inc. (NASDAQ:MU) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 19,989 shares of the semiconductor manufacturer’s stock, valued at approximately $1,706,000. Micron Technology accounts for approximately 1.1% of Machina Capital S.A.S.’s investment portfolio, making the stock its 7th largest position.

A number of other institutional investors have also recently bought and sold shares of MU. FMR LLC lifted its holdings in Micron Technology by 47.9% during the 3rd quarter. FMR LLC now owns 21,899,184 shares of the semiconductor manufacturer’s stock worth $1,489,801,000 after purchasing an additional 7,089,790 shares during the last quarter. Wellington Management Group LLP lifted its holdings in shares of Micron Technology by 43.4% during the third quarter. Wellington Management Group LLP now owns 17,383,628 shares of the semiconductor manufacturer’s stock worth $1,182,608,000 after buying an additional 5,257,201 shares in the last quarter. Morgan Stanley boosted its position in shares of Micron Technology by 19.7% in the third quarter. Morgan Stanley now owns 17,303,400 shares of the semiconductor manufacturer’s stock valued at $1,177,151,000 after acquiring an additional 2,852,688 shares during the period. California Public Employees Retirement System increased its position in Micron Technology by 125.0% during the fourth quarter. California Public Employees Retirement System now owns 4,541,662 shares of the semiconductor manufacturer’s stock worth $387,585,000 after acquiring an additional 2,523,267 shares during the period. Finally, Phoenix Holdings Ltd. raised its stake in Micron Technology by 8,336.6% in the 3rd quarter. Phoenix Holdings Ltd. now owns 1,732,231 shares of the semiconductor manufacturer’s stock worth $117,762,000 after purchasing an additional 1,753,262 shares in the last quarter. Institutional investors and hedge funds own 80.84% of the company’s stock.

Micron Technology Stock Down 0.8 %

NASDAQ:MU traded down $0.92 during trading hours on Tuesday, hitting $119.21. 12,403,245 shares of the company traded hands, compared to its average volume of 20,176,881. Micron Technology, Inc. has a one year low of $59.55 and a one year high of $130.54. The company has a market cap of $131.61 billion, a PE ratio of -35.12 and a beta of 1.27. The firm’s 50-day simple moving average is $109.56 and its 200-day simple moving average is $90.33. The company has a quick ratio of 2.40, a current ratio of 3.74 and a debt-to-equity ratio of 0.30.

Micron Technology (NASDAQ:MU) last released its earnings results on Wednesday, March 20th. The semiconductor manufacturer reported $0.42 EPS for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.69. Micron Technology had a negative return on equity of 8.98% and a negative net margin of 20.57%. The company had revenue of $5.82 billion for the quarter, compared to analysts’ expectations of $5.35 billion. During the same period in the previous year, the business posted ($2.03) EPS. The business’s revenue for the quarter was up 57.7% compared to the same quarter last year. Equities analysts predict that Micron Technology, Inc. will post 0.24 earnings per share for the current year.

Micron Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 16th. Shareholders of record on Monday, April 1st were issued a dividend of $0.115 per share. 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%.

Insider Transactions at Micron Technology

In other news, CEO Sanjay Mehrotra sold 45,000 shares of the firm’s stock in a transaction on Thursday, April 4th. The stock was sold at an average price of $130.00, for a total value of $5,850,000.00. Following the completion of the transaction, the chief executive officer now directly owns 728,557 shares of the company’s stock, valued at $94,712,410. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, EVP April S. Arnzen sold 4,890 shares of the company’s stock in a transaction that occurred on Wednesday, March 27th. The shares were sold at an average price of $119.30, for a total value of $583,377.00. Following the transaction, the executive vice president now directly owns 148,817 shares in the company, valued at $17,753,868.10. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Sanjay Mehrotra sold 45,000 shares of the business’s stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of $130.00, for a total transaction of $5,850,000.00. Following the completion of the transaction, the chief executive officer now directly owns 728,557 shares of the company’s stock, valued at approximately $94,712,410. The disclosure for this sale can be found here. Insiders sold 316,890 shares of company stock worth $35,485,387 over the last quarter. Corporate insiders own 0.32% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Piper Sandler increased their target price on shares of Micron Technology from $95.00 to $130.00 and gave the stock an “overweight” rating in a research report on Thursday, March 21st. Argus upgraded Micron Technology from a “hold” rating to a “buy” rating and set a $140.00 target price for the company in a research report on Thursday, March 21st. Bank of America raised their price target on Micron Technology from $120.00 to $144.00 and gave the stock a “buy” rating in a research report on Monday, April 1st. Robert W. Baird upgraded shares of Micron Technology from a “neutral” rating to an “outperform” rating and increased their price objective for the stock from $115.00 to $150.00 in a research note on Monday. Finally, Stifel Nicolaus restated a “buy” rating and issued a $140.00 target price on shares of Micron Technology in a research report on Friday, April 12th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and twenty-five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $123.60.

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.