Sustainable Insight Capital Management LLC Purchases 2,014 Shares of Micron Technology, Inc. (NASDAQ:MU)

Sustainable Insight Capital Management LLC boosted its holdings in shares of Micron Technology, Inc. (NASDAQ:MU) by 91.5% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 4,214 shares of the semiconductor manufacturer’s stock after acquiring an additional 2,014 shares during the quarter. Sustainable Insight Capital Management LLC’s holdings in Micron Technology were worth $355,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in MU. Gabelli Funds LLC increased its position in shares of Micron Technology by 1.8% in the second quarter. Gabelli Funds LLC now owns 22,705 shares of the semiconductor manufacturer’s stock worth $2,986,000 after purchasing an additional 405 shares during the period. Public Sector Pension Investment Board lifted its holdings in Micron Technology by 73.2% during the 2nd quarter. Public Sector Pension Investment Board now owns 42,583 shares of the semiconductor manufacturer’s stock worth $5,601,000 after buying an additional 17,997 shares during the period. Magnetar Financial LLC acquired a new stake in Micron Technology during the 2nd quarter valued at approximately $231,000. Insigneo Advisory Services LLC lifted its holdings in Micron Technology by 21.8% in the second quarter. Insigneo Advisory Services LLC now owns 10,463 shares of the semiconductor manufacturer’s stock valued at $1,376,000 after buying an additional 1,874 shares during the period. Finally, AlTi Global Inc. boosted its holdings in shares of Micron Technology by 4.8% during the 2nd quarter. AlTi Global Inc. now owns 3,766 shares of the semiconductor manufacturer’s stock worth $495,000 after buying an additional 172 shares in the last quarter. Institutional investors and hedge funds own 80.84% of the company’s stock.

Wall Street Analyst Weigh In

MU has been the subject of several analyst reports. Piper Sandler lowered their price objective on Micron Technology from $150.00 to $120.00 and set an “overweight” rating for the company in a research note on Thursday, December 19th. UBS Group lowered their target price on shares of Micron Technology from $135.00 to $125.00 and set a “buy” rating on the stock in a research note on Thursday, December 19th. Needham & Company LLC decreased their price objective on shares of Micron Technology from $140.00 to $120.00 and set a “buy” rating on the stock in a research report on Thursday, December 19th. Mizuho lowered their price target on Micron Technology from $135.00 to $115.00 and set an “outperform” rating on the stock in a research report on Thursday, December 19th. Finally, Susquehanna cut their price objective on shares of Micron Technology from $175.00 to $165.00 and set a “positive” rating for the company in a research note on Thursday, September 26th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-three have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $135.24.

Micron Technology Stock Performance

NASDAQ MU opened at $104.84 on Friday. The business’s 50 day moving average is $98.11 and its two-hundred day moving average is $101.70. Micron Technology, Inc. has a 12-month low of $79.15 and a 12-month high of $157.54. The stock has a market capitalization of $116.81 billion, a price-to-earnings ratio of 30.21 and a beta of 1.18. The company has a current ratio of 2.72, a quick ratio of 1.75 and a debt-to-equity ratio of 0.28.

Micron Technology (NASDAQ:MU) last released its quarterly earnings results on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 earnings per share for the quarter, topping the consensus estimate of $1.60 by $0.19. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. The company had revenue of $8.71 billion during the quarter, compared to the consensus estimate of $8.71 billion. During the same quarter last year, the business posted ($0.95) earnings per share. Micron Technology’s revenue was up 84.3% compared to the same quarter last year. Research analysts expect that Micron Technology, Inc. will post 6.25 EPS for the current year.

Micron Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Monday, December 30th were given a $0.115 dividend. This represents a $0.46 annualized dividend and a yield of 0.44%. The ex-dividend date was Monday, December 30th. Micron Technology’s dividend payout ratio (DPR) is 13.26%.

Insider Activity

In other news, EVP April S. Arnzen sold 4,890 shares of the business’s stock in a transaction on Friday, December 20th. The shares were sold at an average price of $85.21, for a total transaction of $416,676.90. Following the completion of the transaction, the executive vice president now owns 181,223 shares of the company’s stock, valued at approximately $15,442,011.83. The trade was a 2.63 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 0.30% of the company’s stock.

Micron Technology 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.