Federated Hermes Inc. Increases Stake in Micron Technology, Inc. (NASDAQ:MU)

Federated Hermes Inc. lifted its stake in shares of Micron Technology, Inc. (NASDAQ:MU) by 34.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,775,689 shares of the semiconductor manufacturer’s stock after buying an additional 452,848 shares during the quarter. Federated Hermes Inc. owned about 0.16% of Micron Technology worth $151,537,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently modified their holdings of the company. Fortis Capital Advisors LLC bought a new stake in Micron Technology during the fourth quarter worth about $25,000. OFI Invest Asset Management bought a new stake in Micron Technology during the third quarter worth about $27,000. Annis Gardner Whiting Capital Advisors LLC bought a new stake in Micron Technology during the third quarter worth about $28,000. Coppell Advisory Solutions LLC bought a new stake in Micron Technology during the second quarter worth about $32,000. Finally, VisionPoint Advisory Group LLC boosted its stake in Micron Technology by 68.3% during the third quarter. VisionPoint Advisory Group LLC now owns 488 shares of the semiconductor manufacturer’s stock worth $33,000 after acquiring an additional 198 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 down $2.75 during midday trading on Thursday, reaching $113.58. 11,853,096 shares of the company’s stock traded hands, compared to its average volume of 20,169,063. Micron Technology, Inc. has a 52-week low of $58.03 and a 52-week high of $130.54. The stock has a market cap of $125.78 billion, a P/E ratio of -33.60 and a beta of 1.27. 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 stock’s 50-day moving average is $101.98 and its 200 day moving average is $86.22.

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

Micron Technology Announces Dividend

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

Insider Transactions at Micron Technology

In other news, EVP April S. Arnzen sold 4,890 shares of the stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $119.30, for a total value of $583,377.00. Following the completion of the sale, the executive vice president now directly owns 148,817 shares of the company’s stock, valued at $17,753,868.10. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, CEO Sanjay Mehrotra sold 45,000 shares of the company’s stock in a transaction on Thursday, January 25th. The shares were sold at an average price of $90.00, for a total transaction of $4,050,000.00. Following the completion of the transaction, the chief executive officer now owns 788,557 shares in the company, valued at $70,970,130. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP April S. Arnzen sold 4,890 shares of the company’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 transaction, the executive vice president now owns 148,817 shares of the company’s stock, valued at approximately $17,753,868.10. The disclosure for this sale can be found here. Insiders sold a total of 313,890 shares of company stock valued at $33,617,027 over 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 analyst reports. Bank of America upped their target price on shares of Micron Technology from $120.00 to $144.00 and gave the stock a “buy” rating in a research note on Monday, April 1st. JPMorgan Chase & Co. upped their target price on shares of Micron Technology from $105.00 to $130.00 and gave the stock an “overweight” rating in a research note on Thursday, March 21st. Citigroup reiterated a “buy” rating and issued a $150.00 target price on shares of Micron Technology in a research note on Thursday, April 4th. Morgan Stanley upped their target price on shares of Micron Technology from $78.00 to $98.00 and gave the stock an “underweight” rating in a research note on Thursday, March 21st. Finally, Mizuho upped their target price on shares of Micron Technology from $105.00 to $124.00 and gave the stock a “buy” rating in a research note on Thursday, March 21st. One analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-four have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $122.20.

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.