Bailard Inc. Buys 6,508 Shares of Micron Technology, Inc. (NASDAQ:MU)

Bailard Inc. raised its stake in Micron Technology, Inc. (NASDAQ:MU) by 13.5% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 54,558 shares of the semiconductor manufacturer’s stock after purchasing an additional 6,508 shares during the quarter. Bailard Inc.’s holdings in Micron Technology were worth $4,656,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the stock. Sycomore Asset Management grew its holdings in Micron Technology by 29.9% in the 4th quarter. Sycomore Asset Management now owns 96,782 shares of the semiconductor manufacturer’s stock worth $8,387,000 after acquiring an additional 22,300 shares during the last quarter. Retirement Solution Inc. purchased a new stake in Micron Technology in the fourth quarter worth $587,000. Tokio Marine Asset Management Co. Ltd. grew its stake in Micron Technology by 6.5% in the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 25,340 shares of the semiconductor manufacturer’s stock worth $2,163,000 after purchasing an additional 1,543 shares during the period. Atria Wealth Solutions Inc. grew its stake in shares of Micron Technology by 11.8% in the fourth quarter. Atria Wealth Solutions Inc. now owns 67,657 shares of the semiconductor manufacturer’s stock worth $5,777,000 after acquiring an additional 7,114 shares during the last quarter. Finally, Harvest Fund Management Co. Ltd grew its stake in shares of Micron Technology by 34.3% in the fourth quarter. Harvest Fund Management Co. Ltd now owns 17,940 shares of the semiconductor manufacturer’s stock worth $1,530,000 after acquiring an additional 4,582 shares during the last quarter. Institutional investors own 80.84% of the company’s stock.

Analysts Set New Price Targets

MU has been the subject of a number of recent analyst reports. Barclays boosted their target price on Micron Technology from $95.00 to $120.00 and gave the stock an “overweight” rating in a research report on Monday, March 18th. Citigroup reissued a “buy” rating and issued a $150.00 target price on shares of Micron Technology in a report on Thursday, April 4th. Needham & Company LLC raised their target price on shares of Micron Technology from $100.00 to $120.00 and gave the company a “buy” rating in a report on Thursday, March 21st. Bank of America raised their price target on Micron Technology from $120.00 to $144.00 and gave the stock a “buy” rating in a research report on Monday, April 1st. Finally, Piper Sandler raised their price target on Micron Technology from $95.00 to $130.00 and gave the stock an “overweight” rating in a research report on Thursday, March 21st. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $122.20.

Insider Transactions at Micron Technology

In other news, EVP April S. Arnzen sold 4,890 shares of Micron Technology stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $119.30, for a total transaction of $583,377.00. Following the completion of the transaction, the executive vice president now owns 148,817 shares of the company’s stock, valued at approximately $17,753,868.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Micron Technology news, CEO Sanjay Mehrotra sold 7,000 shares of Micron Technology stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $87.02, for a total value of $609,140.00. Following the transaction, the chief executive officer now owns 788,557 shares in the company, valued at approximately $68,620,230.14. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP April S. Arnzen sold 4,890 shares of the business’s stock in a transaction on 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 of the company’s stock, valued at $17,753,868.10. The disclosure for this sale can be found here. Insiders have sold 261,890 shares of company stock valued at $28,955,157 in the last quarter. 0.32% of the stock is currently owned by corporate insiders.

Micron Technology Stock Performance

Shares of MU traded up $0.71 during mid-day trading on Thursday, hitting $112.49. 11,623,888 shares of the company’s stock were exchanged, compared to its average volume of 20,474,877. The company has a current ratio of 3.74, a quick ratio of 2.40 and a debt-to-equity ratio of 0.30. The business’s 50 day moving average is $104.64 and its two-hundred day moving average is $87.69. The firm has a market capitalization of $124.57 billion, a P/E ratio of -32.14 and a beta of 1.27. Micron Technology, Inc. has a fifty-two week low of $59.34 and a fifty-two week high of $130.54.

Micron Technology (NASDAQ:MU) last released 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. The company had revenue of $5.82 billion during the quarter, compared to the consensus estimate of $5.35 billion. Micron Technology had a negative return on equity of 8.98% and a negative net margin of 20.57%. Micron Technology’s quarterly revenue was up 57.7% compared to the same quarter last year. During the same quarter last year, the company earned ($2.03) earnings per share. On average, equities analysts expect that Micron Technology, Inc. will post 0.24 earnings per share for the current year.

Micron Technology Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 16th. Stockholders of record on Monday, April 1st were given a dividend of $0.115 per share. The ex-dividend date was Thursday, March 28th. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.41%. Micron Technology’s payout ratio is -13.33%.

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.