Generali Investments Towarzystwo Funduszy Inwestycyjnych Sells 300 Shares of Micron Technology, Inc. (NASDAQ:MU)

Generali Investments Towarzystwo Funduszy Inwestycyjnych cut its holdings in Micron Technology, Inc. (NASDAQ:MU) by 1.1% in the 4th quarter, HoldingsChannel.com reports. The firm owned 26,644 shares of the semiconductor manufacturer’s stock after selling 300 shares during the period. Micron Technology comprises approximately 1.3% of Generali Investments Towarzystwo Funduszy Inwestycyjnych’s portfolio, making the stock its 24th largest holding. Generali Investments Towarzystwo Funduszy Inwestycyjnych’s holdings in Micron Technology were worth $2,242,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of MU. Swedbank AB increased its position in shares of Micron Technology by 30.4% in the third quarter. Swedbank AB now owns 3,455,819 shares of the semiconductor manufacturer’s stock valued at $358,403,000 after acquiring an additional 806,639 shares during the period. Highline Wealth Partners LLC purchased a new position in shares of Micron Technology in the third quarter valued at about $26,000. Financial Advocates Investment Management increased its position in shares of Micron Technology by 2.6% in the third quarter. Financial Advocates Investment Management now owns 5,663 shares of the semiconductor manufacturer’s stock valued at $587,000 after acquiring an additional 143 shares during the period. Voisard Asset Management Group Inc. purchased a new position in shares of Micron Technology in the third quarter valued at about $260,000. Finally, Goldstone Financial Group LLC purchased a new position in shares of Micron Technology in the third quarter valued at about $231,000. Hedge funds and other institutional investors own 80.84% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on MU. Sanford C. Bernstein reduced their price target on shares of Micron Technology from $140.00 to $120.00 and set an “outperform” rating on the stock in a research report on Wednesday, December 18th. Piper Sandler reduced their price target on shares of Micron Technology from $150.00 to $120.00 and set an “overweight” rating on the stock in a research report on Thursday, December 19th. Wedbush reiterated an “outperform” rating and set a $140.00 price target on shares of Micron Technology in a research report on Tuesday, December 17th. JPMorgan Chase & Co. reduced their price target on shares of Micron Technology from $180.00 to $145.00 and set an “overweight” rating on the stock in a research report on Thursday, December 19th. Finally, Needham & Company LLC reduced their price target on shares of Micron Technology from $140.00 to $120.00 and set a “buy” rating on the stock in a research report on Thursday, December 19th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Micron Technology currently has an average rating of “Moderate Buy” and an average price target of $134.96.

Insider Activity at Micron Technology

In related news, EVP April S. Arnzen sold 4,890 shares of the stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $85.21, for a total transaction of $416,676.90. Following the transaction, the executive vice president now owns 181,223 shares in the company, valued at $15,442,011.83. This represents a 2.63 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.30% of the stock is owned by insiders.

Micron Technology Trading Down 6.0 %

Shares of NASDAQ MU opened at $91.82 on Friday. The firm’s 50 day moving average price is $95.68 and its 200-day moving average price is $98.87. The company has a market cap of $102.30 billion, a PE ratio of 26.46 and a beta of 1.18. Micron Technology, Inc. has a 52-week low of $83.54 and a 52-week high of $157.54. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.75 and a current ratio of 2.72.

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

Micron Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Monday, December 30th were given a dividend of $0.115 per share. The ex-dividend date of this dividend was Monday, December 30th. This represents a $0.46 dividend on an annualized basis and a yield of 0.50%. Micron Technology’s dividend payout ratio (DPR) is 13.26%.

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.