6,373 Shares in Micron Technology, Inc. (NASDAQ:MU) Purchased by Hartford Funds Management Co LLC

Hartford Funds Management Co LLC acquired a new position in Micron Technology, Inc. (NASDAQ:MU) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 6,373 shares of the semiconductor manufacturer’s stock, valued at approximately $544,000.

Several other hedge funds have also modified their holdings of MU. Sandy Spring Bank raised its holdings in shares of Micron Technology by 11.1% during the 4th quarter. Sandy Spring Bank now owns 1,305 shares of the semiconductor manufacturer’s stock worth $111,000 after acquiring an additional 130 shares during the period. HMS Capital Management LLC raised its holdings in shares of Micron Technology by 0.7% during the 4th quarter. HMS Capital Management LLC now owns 19,842 shares of the semiconductor manufacturer’s stock worth $1,693,000 after acquiring an additional 138 shares during the period. Huntington National Bank raised its holdings in shares of Micron Technology by 6.0% during the 3rd quarter. Huntington National Bank now owns 2,652 shares of the semiconductor manufacturer’s stock worth $180,000 after acquiring an additional 149 shares during the period. Allworth Financial LP raised its holdings in shares of Micron Technology by 3.0% during the 4th quarter. Allworth Financial LP now owns 5,125 shares of the semiconductor manufacturer’s stock worth $437,000 after acquiring an additional 150 shares during the period. Finally, Homestead Advisers Corp increased its position in shares of Micron Technology by 12.5% during the 3rd quarter. Homestead Advisers Corp now owns 1,372 shares of the semiconductor manufacturer’s stock worth $93,000 after purchasing an additional 152 shares during the last quarter. 80.84% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on MU. Raymond James lifted their target price on Micron Technology from $90.00 to $100.00 and gave the company an “outperform” rating in a research report on Friday, January 19th. Wells Fargo & Company lifted their target price on Micron Technology from $125.00 to $135.00 and gave the company an “overweight” rating in a research report on Thursday, March 21st. Morgan Stanley lifted their price objective on Micron Technology from $78.00 to $98.00 and gave the company an “underweight” rating in a research note on Thursday, March 21st. Wedbush lifted their price objective on Micron Technology from $103.00 to $130.00 and gave the company an “outperform” rating in a research note on Thursday, March 21st. Finally, Piper Sandler lifted their price objective on Micron Technology from $95.00 to $130.00 and gave the company an “overweight” rating in a research note on Thursday, March 21st. One analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-four have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $122.20.

Micron Technology Trading Down 1.2 %

Shares of NASDAQ MU traded down $1.40 during midday trading on Tuesday, hitting $112.96. The stock had a trading volume of 14,819,938 shares, compared to its average volume of 20,418,855. The company has a market capitalization of $125.09 billion, a price-to-earnings ratio of -32.74 and a beta of 1.27. Micron Technology, Inc. has a 1-year low of $59.55 and a 1-year high of $130.54. The company has a quick ratio of 2.40, a current ratio of 3.74 and a debt-to-equity ratio of 0.30. The company has a fifty day moving average price of $107.28 and a 200 day moving average price of $89.05.

Micron Technology (NASDAQ:MU) last posted its quarterly earnings data on Wednesday, March 20th. The semiconductor manufacturer reported $0.42 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.27) by $0.69. Micron Technology had a negative return on equity of 8.98% and a negative net margin of 20.57%. The company had revenue of $5.82 billion for the quarter, compared to the consensus estimate of $5.35 billion. During the same period in the previous year, the business earned ($2.03) EPS. Micron Technology’s revenue for the quarter was up 57.7% compared to the same quarter last year. On average, analysts predict that Micron Technology, Inc. will post 0.24 earnings per share for the current year.

Micron Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 16th. Investors 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 yield of 0.41%. Micron Technology’s dividend payout ratio is currently -13.33%.

Insider Activity at Micron Technology

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of the business’s 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 in the company, valued at approximately $17,753,868.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO Sanjay Mehrotra sold 7,000 shares of the company’s stock in a transaction on Tuesday, April 23rd. The stock was sold at an average price of $111.93, for a total value of $783,510.00. Following the completion of the sale, the chief executive officer now owns 719,049 shares in the company, valued at $80,483,154.57. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP April S. Arnzen sold 4,890 shares of the business’s stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $119.30, for a total value of $583,377.00. Following the sale, the executive vice president now directly owns 148,817 shares in the company, valued at $17,753,868.10. The disclosure for this sale can be found here. Insiders sold 261,890 shares of company stock worth $29,129,527 in the last 90 days. 0.32% of the stock is currently owned by company insiders.

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.