AJOVista LLC Takes $90,000 Position in Micron Technology, Inc. (NASDAQ:MU)

AJOVista LLC bought a new stake in Micron Technology, Inc. (NASDAQ:MU) in the 4th quarter, according to its most recent 13F filing with the SEC. The firm bought 1,050 shares of the semiconductor manufacturer’s stock, valued at approximately $90,000.

Several other large investors have also added to or reduced their stakes in the business. Vanguard Group Inc. lifted its position in Micron Technology by 0.3% in the 3rd quarter. Vanguard Group Inc. now owns 94,229,187 shares of the semiconductor manufacturer’s stock valued at $6,410,412,000 after acquiring an additional 305,860 shares in the last quarter. FMR LLC lifted its position in Micron Technology by 47.9% in the 3rd quarter. FMR LLC now owns 21,899,184 shares of the semiconductor manufacturer’s stock valued at $1,489,801,000 after acquiring an additional 7,089,790 shares in the last quarter. Wellington Management Group LLP lifted its position in Micron Technology by 43.4% in the 3rd quarter. Wellington Management Group LLP now owns 17,383,628 shares of the semiconductor manufacturer’s stock valued at $1,182,608,000 after acquiring an additional 5,257,201 shares in the last quarter. Morgan Stanley lifted its position in shares of Micron Technology by 19.7% during the 3rd quarter. Morgan Stanley now owns 17,303,400 shares of the semiconductor manufacturer’s stock worth $1,177,151,000 after buying an additional 2,852,688 shares in the last quarter. Finally, Northern Trust Corp lifted its position in shares of Micron Technology by 0.7% during the 3rd quarter. Northern Trust Corp now owns 10,833,670 shares of the semiconductor manufacturer’s stock worth $737,015,000 after buying an additional 80,345 shares in the last quarter. Institutional investors own 80.84% of the company’s stock.

Insider Buying and Selling

In related news, CEO Sanjay Mehrotra sold 7,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $84.84, for a total transaction of $593,880.00. Following the completion of the transaction, the chief executive officer now owns 788,557 shares of the company’s stock, valued at approximately $66,901,175.88. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other Micron Technology news, CEO Sanjay Mehrotra sold 7,000 shares of the business’s stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $84.84, for a total value of $593,880.00. Following the completion of the transaction, the chief executive officer now owns 788,557 shares of the company’s stock, valued at approximately $66,901,175.88. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP April S. Arnzen sold 4,890 shares of the firm’s 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 sale, the executive vice president now directly owns 148,817 shares in the company, valued at approximately $17,753,868.10. The disclosure for this sale can be found here. Insiders sold a total of 323,890 shares of company stock worth $36,079,267 in the last three months. 0.32% of the stock is owned by corporate insiders.

Micron Technology Trading Up 2.1 %

MU traded up $2.37 during trading on Friday, hitting $114.70. 15,564,363 shares of the stock traded hands, compared to its average volume of 21,228,284. The firm has a market capitalization of $126.63 billion, a P/E ratio of -33.25 and a beta of 1.27. Micron Technology, Inc. has a 12-month low of $59.55 and a 12-month high of $130.54. The company has a debt-to-equity ratio of 0.30, a current ratio of 3.74 and a quick ratio of 2.40. The firm has a 50-day moving average of $108.95 and a 200 day moving average of $89.67.

Micron Technology (NASDAQ:MU) last announced its earnings results on Wednesday, March 20th. The semiconductor manufacturer reported $0.42 EPS for the quarter, beating 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 during the quarter, compared to the consensus estimate of $5.35 billion. During the same quarter in the prior year, the company earned ($2.03) earnings per share. The firm’s revenue for the quarter was up 57.7% on a year-over-year basis. Equities research analysts anticipate that Micron Technology, Inc. will post 0.24 EPS for the current year.

Micron Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 16th. Stockholders of record on Monday, April 1st were given a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.40%. The ex-dividend date of this dividend was Thursday, March 28th. Micron Technology’s dividend payout ratio is presently -13.33%.

Analyst Upgrades and Downgrades

MU has been the topic of several recent analyst reports. Needham & Company LLC lifted their target price on shares of Micron Technology from $100.00 to $120.00 and gave the stock a “buy” rating in a research report on Thursday, March 21st. Wells Fargo & Company lifted their target price on shares of Micron Technology from $125.00 to $135.00 and gave the stock an “overweight” rating in a research report on Thursday, March 21st. Morgan Stanley lifted their target price on shares of Micron Technology from $78.00 to $98.00 and gave the stock an “underweight” rating in a research report on Thursday, March 21st. Piper Sandler lifted their price target on shares of Micron Technology from $95.00 to $130.00 and gave the stock an “overweight” rating in a report on Thursday, March 21st. Finally, Citigroup reaffirmed a “buy” rating and issued a $150.00 price target on shares of Micron Technology in a report on Thursday, April 4th. One analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-four have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $122.20.

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.