New Century Financial Group LLC Sells 169 Shares of Micron Technology, Inc. (NASDAQ:MU)

New Century Financial Group LLC reduced its holdings in Micron Technology, Inc. (NASDAQ:MU) by 2.5% during the first quarter, Holdings Channel.com reports. The institutional investor owned 6,474 shares of the semiconductor manufacturer’s stock after selling 169 shares during the quarter. New Century Financial Group LLC’s holdings in Micron Technology were worth $763,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in shares of Micron Technology by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 94,984,775 shares of the semiconductor manufacturer’s stock valued at $8,106,001,000 after purchasing an additional 755,588 shares during the period. Sanders Capital LLC lifted its position in Micron Technology by 2.3% during the fourth quarter. Sanders Capital LLC now owns 22,583,348 shares of the semiconductor manufacturer’s stock valued at $1,927,263,000 after buying an additional 503,923 shares during the period. Wellington Management Group LLP boosted its holdings in shares of Micron Technology by 43.4% during 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 buying an additional 5,257,201 shares in the last quarter. Morgan Stanley grew its position in shares of Micron Technology by 19.7% in 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 during the period. Finally, Capital International Investors increased its stake in shares of Micron Technology by 2.3% in the 4th quarter. Capital International Investors now owns 15,905,621 shares of the semiconductor manufacturer’s stock worth $1,357,392,000 after acquiring an additional 363,902 shares in the last quarter. Hedge funds and other institutional investors own 80.84% of the company’s stock.

Micron Technology Stock Performance

MU stock traded up $4.23 during trading on Thursday, reaching $136.82. The stock had a trading volume of 14,507,146 shares, compared to its average volume of 27,836,970. The firm has a market cap of $151.71 billion, a PE ratio of -96.35 and a beta of 1.18. The company has a current ratio of 3.41, a quick ratio of 2.16 and a debt-to-equity ratio of 0.29. The stock’s 50 day moving average is $129.42 and its two-hundred day moving average is $107.38. Micron Technology, Inc. has a 52 week low of $60.50 and a 52 week high of $157.54.

Micron Technology (NASDAQ:MU) last issued its quarterly earnings data on Wednesday, June 26th. The semiconductor manufacturer reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.14. The firm had revenue of $6.81 billion for the quarter, compared to analysts’ expectations of $6.67 billion. Micron Technology had a negative net margin of 7.20% and a negative return on equity of 4.01%. The business’s quarterly revenue was up 81.5% on a year-over-year basis. During the same quarter in the prior year, the business earned ($1.57) EPS. As a group, equities analysts anticipate that Micron Technology, Inc. will post 0.58 earnings per share for the current year.

Micron Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 23rd. Stockholders of record on Monday, July 8th will be given a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.34%. The ex-dividend date is Monday, July 8th. Micron Technology’s payout ratio is -32.39%.

Insider Transactions at Micron Technology

In other news, EVP Manish H. Bhatia sold 53,317 shares of the firm’s stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $119.18, for a total value of $6,354,320.06. Following the transaction, the executive vice president now owns 319,119 shares of the company’s stock, valued at $38,032,602.42. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, EVP Manish H. Bhatia sold 53,317 shares of the firm’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $119.18, for a total transaction of $6,354,320.06. Following the sale, the executive vice president now directly owns 319,119 shares in the company, valued at approximately $38,032,602.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Sanjay Mehrotra sold 7,000 shares of the company’s stock in a transaction on Tuesday, April 9th. The stock was sold at an average price of $122.60, for a total transaction of $858,200.00. Following the completion of the transaction, the chief executive officer now directly owns 728,557 shares of the company’s stock, valued at approximately $89,321,088.20. The disclosure for this sale can be found here. Insiders sold 257,730 shares of company stock worth $31,921,649 in the last three months. Corporate insiders own 0.32% of the company’s stock.

Wall Street Analysts Forecast Growth

MU has been the topic of several research reports. Morgan Stanley boosted their price objective on shares of Micron Technology from $130.00 to $140.00 and gave the stock an “equal weight” rating in a research note on Monday, June 24th. Raymond James upped their price target on Micron Technology from $130.00 to $160.00 and gave the stock an “outperform” rating in a research note on Friday, June 21st. Argus upgraded Micron Technology from a “hold” rating to a “buy” rating and set a $140.00 price objective for the company in a research note on Thursday, March 21st. Piper Sandler boosted their target price on Micron Technology from $130.00 to $150.00 and gave the stock an “overweight” rating in a report on Thursday, June 27th. Finally, Rosenblatt Securities restated a “buy” rating and set a $225.00 price target on shares of Micron Technology in a report on Tuesday, June 25th. Two equities research analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $158.52.

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.