Micron Technology, Inc. (NASDAQ:MU) Stock Holdings Decreased by FUKOKU MUTUAL LIFE INSURANCE Co

FUKOKU MUTUAL LIFE INSURANCE Co decreased its holdings in shares of Micron Technology, Inc. (NASDAQ:MU) by 30.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,879 shares of the semiconductor manufacturer’s stock after selling 2,114 shares during the quarter. FUKOKU MUTUAL LIFE INSURANCE Co’s holdings in Micron Technology were worth $411,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in MU. Stonebrook Private Inc. lifted its holdings in shares of Micron Technology by 4.2% during the 3rd quarter. Stonebrook Private Inc. now owns 2,454 shares of the semiconductor manufacturer’s stock valued at $255,000 after purchasing an additional 98 shares in the last quarter. John G Ullman & Associates Inc. increased its holdings in Micron Technology by 2.5% in the 3rd quarter. John G Ullman & Associates Inc. now owns 4,063 shares of the semiconductor manufacturer’s stock valued at $421,000 after buying an additional 100 shares during the period. Trivant Custom Portfolio Group LLC boosted its stake in Micron Technology by 20.0% in the fourth quarter. Trivant Custom Portfolio Group LLC now owns 600 shares of the semiconductor manufacturer’s stock valued at $50,000 after buying an additional 100 shares in the last quarter. PDS Planning Inc boosted its stake in shares of Micron Technology by 2.4% during the third quarter. PDS Planning Inc now owns 4,382 shares of the semiconductor manufacturer’s stock valued at $454,000 after purchasing an additional 104 shares in the last quarter. Finally, Lebenthal Global Advisors LLC raised its position in shares of Micron Technology by 1.5% during the fourth quarter. Lebenthal Global Advisors LLC now owns 7,474 shares of the semiconductor manufacturer’s stock worth $629,000 after acquiring an additional 114 shares during the last quarter. 80.84% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Morgan Stanley cut their price objective on Micron Technology from $98.00 to $91.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 28th. Stifel Nicolaus reduced their price objective on shares of Micron Technology from $135.00 to $130.00 and set a “buy” rating on the stock in a research report on Thursday, December 19th. Piper Sandler lowered their target price 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. Needham & Company LLC lowered their price target on Micron Technology from $140.00 to $120.00 and set a “buy” rating for the company in a research report on Thursday, December 19th. Finally, Robert W. Baird dropped their price objective on shares of Micron Technology from $150.00 to $130.00 and set an “outperform” rating on the stock in a report on Thursday, December 19th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $134.96.

Micron Technology Price Performance

Shares of NASDAQ:MU opened at $97.71 on Thursday. Micron Technology, Inc. has a twelve month low of $83.54 and a twelve month high of $157.54. The company has a market cap of $108.87 billion, a price-to-earnings ratio of 28.16 and a beta of 1.18. The business has a 50 day moving average price of $95.59 and a 200 day moving average price of $98.92. The company has a quick ratio of 1.75, a current ratio of 2.72 and a debt-to-equity ratio of 0.28.

Micron Technology (NASDAQ:MU) last announced its earnings results on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 EPS 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 business had revenue of $8.71 billion for the quarter, compared to the consensus estimate of $8.71 billion. During the same period in the previous year, the business earned ($0.95) EPS. Micron Technology’s revenue was up 84.3% compared to the same quarter last year. Research analysts predict that Micron Technology, Inc. will post 6.08 earnings per share for the current year.

Micron Technology Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Monday, December 30th were issued a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.47%. The ex-dividend date was Monday, December 30th. Micron Technology’s dividend payout ratio is currently 13.26%.

Insider Buying and Selling

In related news, EVP April S. Arnzen sold 4,890 shares of the firm’s 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 sale, the executive vice president now owns 181,223 shares of the company’s stock, valued at $15,442,011.83. This trade represents a 2.63 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.30% of the stock is currently owned by company insiders.

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.