OneAscent Financial Services LLC Boosts Stake in Micron Technology, Inc. (NASDAQ:MU)

OneAscent Financial Services LLC lifted its holdings in shares of Micron Technology, Inc. (NASDAQ:MU) by 61.5% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 3,162 shares of the semiconductor manufacturer’s stock after acquiring an additional 1,204 shares during the quarter. OneAscent Financial Services LLC’s holdings in Micron Technology were worth $266,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of MU. Benjamin Edwards Inc. purchased a new stake in Micron Technology during the 3rd quarter valued at $600,000. Quarry LP increased its position in Micron Technology by 113.7% during the third quarter. Quarry LP now owns 1,291 shares of the semiconductor manufacturer’s stock valued at $134,000 after acquiring an additional 687 shares during the last quarter. Quantinno Capital Management LP lifted its holdings in Micron Technology by 24.4% in the third quarter. Quantinno Capital Management LP now owns 73,151 shares of the semiconductor manufacturer’s stock valued at $7,587,000 after acquiring an additional 14,357 shares during the period. Sora Investors LLC purchased a new position in Micron Technology in the third quarter worth about $18,668,000. Finally, Two Sigma Advisers LP grew its stake in shares of Micron Technology by 24.3% during the 3rd quarter. Two Sigma Advisers LP now owns 4,573,200 shares of the semiconductor manufacturer’s stock valued at $474,287,000 after purchasing an additional 893,700 shares during the period. 80.84% of the stock is currently owned by institutional investors.

Micron Technology Trading Down 12.9 %

Shares of MU stock opened at $64.72 on Friday. The company has a current ratio of 2.72, a quick ratio of 1.75 and a debt-to-equity ratio of 0.28. The stock has a market capitalization of $72.33 billion, a price-to-earnings ratio of 18.65 and a beta of 1.23. Micron Technology, Inc. has a 12-month low of $63.86 and a 12-month high of $157.54. The stock’s 50-day moving average price is $93.42 and its 200-day moving average price is $98.10.

Micron Technology (NASDAQ:MU) last released its quarterly earnings data on Thursday, March 20th. The semiconductor manufacturer reported $1.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.43 by $0.13. The business had revenue of $8.05 billion for the quarter, compared to the consensus estimate of $7.93 billion. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. The company’s revenue was up 38.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.42 EPS. Equities research analysts predict that Micron Technology, Inc. will post 6.08 EPS for the current fiscal year.

Micron Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be paid a $0.115 dividend. The ex-dividend date is Monday, March 31st. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.71%. Micron Technology’s payout ratio is currently 11.03%.

Insider Transactions at Micron Technology

In other news, Director Mary Pat Mccarthy sold 2,404 shares of Micron Technology stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $92.93, for a total value of $223,403.72. Following the completion of the transaction, the director now owns 27,358 shares in the company, valued at approximately $2,542,378.94. The trade was a 8.08 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP April S. Arnzen sold 15,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 25th. The shares were sold at an average price of $96.18, for a total value of $1,442,700.00. Following the transaction, the executive vice president now directly owns 164,769 shares in the company, valued at approximately $15,847,482.42. This represents a 8.34 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.30% of the company’s stock.

Analyst Ratings Changes

MU has been the subject of a number of research reports. The Goldman Sachs Group reduced their target price on shares of Micron Technology from $145.00 to $128.00 and set a “buy” rating for the company in a report on Thursday, December 19th. China Renaissance lowered Micron Technology from a “buy” rating to a “hold” rating and set a $84.00 price objective for the company. in a research note on Wednesday, March 26th. Mizuho lowered their target price on Micron Technology from $135.00 to $115.00 and set an “outperform” rating on the stock in a research report on Thursday, December 19th. JPMorgan Chase & Co. reduced their price target on Micron Technology from $145.00 to $135.00 and set an “overweight” rating for the company in a research report on Friday, March 21st. Finally, TD Cowen lowered their price objective on Micron Technology from $135.00 to $125.00 and set a “buy” rating on the stock in a research report on Thursday, December 19th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Micron Technology has an average rating of “Moderate Buy” and a consensus price target of $129.76.

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.