Everence Capital Management Inc. Has $2.35 Million Stock Holdings in Micron Technology, Inc. (NASDAQ:MU)

Everence Capital Management Inc. boosted its position in Micron Technology, Inc. (NASDAQ:MU) by 12.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 27,900 shares of the semiconductor manufacturer’s stock after purchasing an additional 3,040 shares during the period. Everence Capital Management Inc.’s holdings in Micron Technology were worth $2,348,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Stonebrook Private Inc. raised its holdings in shares of Micron Technology by 4.2% during the third 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 during the period. John G Ullman & Associates Inc. boosted its holdings in Micron Technology by 2.5% in the third quarter. John G Ullman & Associates Inc. now owns 4,063 shares of the semiconductor manufacturer’s stock worth $421,000 after acquiring an additional 100 shares in the last quarter. Trust Co. of Vermont grew its stake in Micron Technology by 14.3% in the third quarter. Trust Co. of Vermont now owns 821 shares of the semiconductor manufacturer’s stock valued at $85,000 after acquiring an additional 103 shares during the period. PDS Planning Inc increased its holdings 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 acquiring an additional 104 shares in the last quarter. Finally, Legacy Financial Advisors Inc. raised its position in shares of Micron Technology by 5.3% during the second quarter. Legacy Financial Advisors Inc. now owns 2,357 shares of the semiconductor manufacturer’s stock worth $310,000 after purchasing an additional 118 shares during the period. Institutional investors and hedge funds own 80.84% of the company’s stock.

Insider Buying and Selling

In related news, EVP April S. Arnzen sold 4,890 shares of the firm’s stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $85.21, for a total value of $416,676.90. Following the completion of the sale, the executive vice president now directly owns 181,223 shares in the company, valued at approximately $15,442,011.83. This trade represents a 2.63 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.30% of the stock is owned by corporate insiders.

Micron Technology Stock Performance

Shares of MU traded up $1.25 on Friday, reaching $88.58. 6,335,147 shares of the stock traded hands, compared to its average volume of 12,383,480. The firm has a market cap of $98.69 billion, a price-to-earnings ratio of 130.27 and a beta of 1.16. The stock’s 50-day moving average price is $99.42 and its 200-day moving average price is $105.69. Micron Technology, Inc. has a 12 month low of $79.15 and a 12 month high of $157.54. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.64 and a quick ratio of 1.68.

Micron Technology (NASDAQ:MU) last posted its quarterly earnings results on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 earnings per share for the quarter, topping analysts’ consensus estimates of $1.60 by $0.19. Micron Technology had a net margin of 3.10% and a return on equity of 1.58%. The business had revenue of $8.71 billion during the quarter, compared to the consensus estimate of $8.71 billion. During the same period in the previous year, the firm posted ($0.95) earnings per share. Micron Technology’s revenue for the quarter was up 84.3% compared to the same quarter last year. Equities analysts forecast that Micron Technology, Inc. will post 8.31 EPS for the current fiscal year.

Micron Technology Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Monday, December 30th will be paid a $0.115 dividend. This represents a $0.46 annualized dividend and a dividend yield of 0.52%. The ex-dividend date of this dividend is Monday, December 30th. Micron Technology’s dividend payout ratio is 13.26%.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on MU shares. Rosenblatt Securities reissued a “buy” rating and set a $250.00 price objective on shares of Micron Technology in a report on Wednesday, December 18th. Piper Sandler lowered their price objective on Micron Technology from $150.00 to $120.00 and set an “overweight” rating on the stock in a research note on Thursday, December 19th. Susquehanna reduced their target price on shares of Micron Technology from $175.00 to $165.00 and set a “positive” rating for the company in a research note on Thursday, September 26th. Citigroup dropped their price target on shares of Micron Technology from $175.00 to $150.00 and set a “buy” rating on the stock in a research note on Tuesday, September 17th. Finally, Cantor Fitzgerald reduced their price objective on shares of Micron Technology from $150.00 to $130.00 and set an “overweight” rating for the company in a research note on Thursday, December 19th. One analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-three have assigned a buy rating to the company. According to MarketBeat.com, Micron Technology presently has a consensus rating of “Moderate Buy” and a consensus target price of $135.24.

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.