Skandinaviska Enskilda Banken AB publ Purchases 41,668 Shares of Micron Technology, Inc. (NASDAQ:MU)

Skandinaviska Enskilda Banken AB publ increased its position in shares of Micron Technology, Inc. (NASDAQ:MU) by 18.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 271,548 shares of the semiconductor manufacturer’s stock after buying an additional 41,668 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in Micron Technology were worth $23,156,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of MU. Beacon Capital Management LLC boosted its holdings in Micron Technology by 114.9% in the 4th quarter. Beacon Capital Management LLC now owns 374 shares of the semiconductor manufacturer’s stock valued at $31,000 after purchasing an additional 200 shares during the period. True Wealth Design LLC boosted its holdings in Micron Technology by 1,096.3% in the 3rd quarter. True Wealth Design LLC now owns 323 shares of the semiconductor manufacturer’s stock valued at $33,000 after purchasing an additional 296 shares during the period. Midwest Capital Advisors LLC bought a new stake in Micron Technology in the 4th quarter valued at $33,000. Stone House Investment Management LLC boosted its holdings in Micron Technology by 602.2% in the 3rd quarter. Stone House Investment Management LLC now owns 323 shares of the semiconductor manufacturer’s stock valued at $34,000 after purchasing an additional 277 shares during the period. Finally, Activest Wealth Management boosted its holdings in Micron Technology by 583.3% in the 4th quarter. Activest Wealth Management now owns 410 shares of the semiconductor manufacturer’s stock valued at $34,000 after purchasing an additional 350 shares during the period. 80.84% of the stock is owned by institutional investors.

Micron Technology Stock Down 0.8 %

Micron Technology stock opened at $94.88 on Friday. The stock has a market capitalization of $105.71 billion, a PE ratio of 27.34 and a beta of 1.23. Micron Technology, Inc. has a twelve month low of $83.54 and a twelve month high of $157.54. The company has a quick ratio of 1.75, a current ratio of 2.72 and a debt-to-equity ratio of 0.28. The company has a 50 day moving average of $96.50 and a 200-day moving average of $98.04.

Micron Technology (NASDAQ:MU) last released its quarterly earnings results on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 earnings per share for the quarter, beating the consensus estimate of $1.60 by $0.19. The company had revenue of $8.71 billion during the quarter, compared to analysts’ expectations of $8.71 billion. Micron Technology had a net margin of 13.34% and a return on equity of 8.32%. The business’s quarterly revenue was up 84.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.95) earnings per share. On average, equities research analysts anticipate that Micron Technology, Inc. will post 6.08 EPS for the current fiscal year.

Micron Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Monday, December 30th were given a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.48%. The ex-dividend date was Monday, December 30th. Micron Technology’s dividend payout ratio is presently 13.26%.

Insider Transactions at Micron Technology

In other Micron Technology news, Director Mary Pat Mccarthy sold 2,404 shares of the company’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $92.93, for a total transaction of $223,403.72. Following the sale, the director now directly owns 27,358 shares of the company’s stock, valued at approximately $2,542,378.94. This represents a 8.08 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing 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 Friday, December 20th. The stock was sold at an average price of $85.21, for a total transaction of $416,676.90. Following the sale, the executive vice president now directly owns 181,223 shares in the company, valued at $15,442,011.83. This trade represents a 2.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.30% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Bank of America downgraded shares of Micron Technology from a “buy” rating to a “neutral” rating and reduced their price target for the company from $125.00 to $110.00 in a report on Thursday, December 19th. Piper Sandler dropped their price objective on shares of Micron Technology from $150.00 to $120.00 and set an “overweight” rating for the company in a research note on Thursday, December 19th. Barclays dropped their price objective on shares of Micron Technology from $145.00 to $110.00 and set an “overweight” rating for the company in a research note on Friday, December 20th. Morgan Stanley dropped their price objective on shares of Micron Technology from $98.00 to $91.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 28th. Finally, UBS Group dropped their price objective on shares of Micron Technology from $135.00 to $125.00 and set a “buy” rating for the company in a research note on Thursday, December 19th. One analyst has rated the stock with a sell rating, three have given a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $134.56.

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.