MassMutual Private Wealth & Trust FSB Increases Holdings in Micron Technology, Inc. (NASDAQ:MU)

MassMutual Private Wealth & Trust FSB raised its stake in Micron Technology, Inc. (NASDAQ:MU) by 22.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,810 shares of the semiconductor manufacturer’s stock after purchasing an additional 701 shares during the quarter. MassMutual Private Wealth & Trust FSB’s holdings in Micron Technology were worth $321,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Van ECK Associates Corp grew its holdings in Micron Technology by 30.6% during the 3rd quarter. Van ECK Associates Corp now owns 10,564,198 shares of the semiconductor manufacturer’s stock valued at $1,109,769,000 after purchasing an additional 2,477,985 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Micron Technology by 21.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 11,326,224 shares of the semiconductor manufacturer’s stock valued at $1,174,643,000 after buying an additional 2,022,180 shares during the last quarter. State Street Corp grew its stake in shares of Micron Technology by 3.1% during the third quarter. State Street Corp now owns 48,226,710 shares of the semiconductor manufacturer’s stock valued at $5,001,592,000 after acquiring an additional 1,434,568 shares in the last quarter. Worldquant Millennium Advisors LLC grew its stake in shares of Micron Technology by 254.4% during the third quarter. Worldquant Millennium Advisors LLC now owns 1,859,416 shares of the semiconductor manufacturer’s stock valued at $192,840,000 after acquiring an additional 1,334,690 shares in the last quarter. Finally, International Assets Investment Management LLC increased its position in shares of Micron Technology by 1,233.7% during the third quarter. International Assets Investment Management LLC now owns 1,430,619 shares of the semiconductor manufacturer’s stock worth $145,470,000 after acquiring an additional 1,323,352 shares during the last quarter. Institutional investors and hedge funds own 80.84% of the company’s stock.

Insiders Place Their Bets

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of the stock in a transaction on Friday, December 20th. The stock was 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 directly owns 181,223 shares of the company’s stock, valued at approximately $15,442,011.83. This trade represents a 2.63 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.30% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on MU. Mizuho lowered their price objective on Micron Technology from $135.00 to $115.00 and set an “outperform” rating for the company in a research note on Thursday, December 19th. JPMorgan Chase & Co. decreased their price target on shares of Micron Technology from $180.00 to $145.00 and set an “overweight” rating for the company in a research report on Thursday, December 19th. Morgan Stanley cut their price target on shares of Micron Technology from $114.00 to $98.00 and set an “equal weight” rating on the stock in a report on Thursday, December 19th. Piper Sandler decreased their price objective on shares of Micron Technology from $150.00 to $120.00 and set an “overweight” rating for the company in a report on Thursday, December 19th. Finally, Wedbush restated an “outperform” rating and issued a $140.00 target price on shares of Micron Technology in a research note on Tuesday, December 17th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-three have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $135.24.

Micron Technology Stock Performance

Shares of NASDAQ MU opened at $109.23 on Thursday. Micron Technology, Inc. has a 12-month low of $79.15 and a 12-month high of $157.54. The company has a market cap of $121.70 billion, a PE ratio of 31.48 and a beta of 1.18. The stock has a 50 day simple moving average of $97.92 and a 200-day simple moving average of $101.65. 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 announced its quarterly earnings results on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.60 by $0.19. The company had revenue of $8.71 billion during the quarter, compared to analyst estimates of $8.71 billion. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. The firm’s quarterly revenue was up 84.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.95) EPS. On average, equities research analysts forecast that Micron Technology, Inc. will post 6.25 EPS for the current year.

Micron Technology Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Monday, December 30th were paid a dividend of $0.115 per share. The ex-dividend date was Monday, December 30th. This represents a $0.46 annualized dividend and a yield of 0.42%. Micron Technology’s payout ratio is 13.26%.

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.