O Shaughnessy Asset Management LLC Raises Stock Position in Micron Technology, Inc. (NASDAQ:MU)

O Shaughnessy Asset Management LLC raised its stake in shares of Micron Technology, Inc. (NASDAQ:MU) by 3.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 98,524 shares of the semiconductor manufacturer’s stock after buying an additional 3,016 shares during the period. O Shaughnessy Asset Management LLC’s holdings in Micron Technology were worth $11,615,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Dynamic Advisor Solutions LLC raised its position in Micron Technology by 20.3% in the fourth quarter. Dynamic Advisor Solutions LLC now owns 10,198 shares of the semiconductor manufacturer’s stock worth $851,000 after acquiring an additional 1,720 shares during the period. Everhart Financial Group Inc. bought a new position in Micron Technology in the 4th quarter worth $281,000. Premier Path Wealth Partners LLC purchased a new position in Micron Technology during the fourth quarter valued at $346,000. Mutual Advisors LLC grew its holdings in Micron Technology by 6.3% during the fourth quarter. Mutual Advisors LLC now owns 10,933 shares of the semiconductor manufacturer’s stock valued at $933,000 after purchasing an additional 645 shares during the period. Finally, Cooper Financial Group grew its holdings in Micron Technology by 5.7% during the fourth quarter. Cooper Financial Group now owns 10,035 shares of the semiconductor manufacturer’s stock valued at $856,000 after purchasing an additional 545 shares during the period. 80.84% of the stock is owned by institutional investors.

Insider Transactions at Micron Technology

In other Micron Technology news, SVP Michael W. Bokan sold 15,000 shares of the stock in a transaction dated Tuesday, April 30th. The stock was sold at an average price of $115.55, for a total value of $1,733,250.00. Following the completion of the sale, the senior vice president now directly owns 153,387 shares in the company, valued at $17,723,867.85. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, EVP Sumit Sadana sold 13,239 shares of the business’s stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $118.77, for a total transaction of $1,572,396.03. Following the sale, the executive vice president now directly owns 260,857 shares of the company’s stock, valued at $30,981,985.89. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Michael W. Bokan sold 15,000 shares of the firm’s stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $115.55, for a total value of $1,733,250.00. Following the completion of the transaction, the senior vice president now owns 153,387 shares of the company’s stock, valued at approximately $17,723,867.85. The disclosure for this sale can be found here. Over the last three months, insiders have sold 236,730 shares of company stock valued at $29,435,039. Corporate insiders own 0.32% of the company’s stock.

Wall Street Analysts Forecast Growth

MU has been the subject of a number of recent analyst reports. Wedbush reiterated an “outperform” rating and issued a $170.00 price target on shares of Micron Technology in a research report on Thursday, June 27th. JPMorgan Chase & Co. lifted their price target on shares of Micron Technology from $130.00 to $180.00 and gave the company an “overweight” rating in a report on Thursday, June 27th. Piper Sandler increased their price objective on shares of Micron Technology from $130.00 to $150.00 and gave the company an “overweight” rating in a report on Thursday, June 27th. Citigroup lifted their target price on Micron Technology from $150.00 to $175.00 and gave the stock a “buy” rating in a report on Monday, June 24th. Finally, Morgan Stanley increased their price target on Micron Technology from $130.00 to $140.00 and gave the company an “equal weight” rating in a research note on Monday, June 24th. Two research analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $158.72.

Micron Technology Stock Down 0.9 %

Shares of MU traded down $1.03 during trading hours on Tuesday, hitting $114.25. The company had a trading volume of 14,529,483 shares, compared to its average volume of 20,948,502. The company has a current ratio of 3.41, a quick ratio of 2.16 and a debt-to-equity ratio of 0.29. The company has a market capitalization of $126.68 billion, a PE ratio of -80.34 and a beta of 1.18. Micron Technology, Inc. has a one year low of $61.75 and a one year high of $157.54. The company’s fifty day moving average price is $132.30 and its two-hundred day moving average price is $111.49.

Micron Technology (NASDAQ:MU) last announced its earnings results on Wednesday, June 26th. The semiconductor manufacturer reported $0.62 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.14. Micron Technology had a negative net margin of 7.20% and a negative return on equity of 4.01%. The business had revenue of $6.81 billion during the quarter, compared to the consensus estimate of $6.67 billion. During the same period in the previous year, the company posted ($1.57) earnings per share. The firm’s revenue was up 81.5% on a year-over-year basis. As a group, equities analysts forecast that Micron Technology, Inc. will post 0.58 earnings per share for the current fiscal year.

Micron Technology Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 23rd. Shareholders of record on Monday, July 8th will be issued a $0.115 dividend. This represents a $0.46 annualized dividend and a yield of 0.40%. The ex-dividend date is Monday, July 8th. Micron Technology’s dividend payout ratio is currently -32.39%.

About Micron Technology

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.