December 2, 2022

Tyna Woods

Technology does the job

Assenagon Asset Management S.A. Raises Stock Position in Micron Technology, Inc. (NASDAQ:MU)


Assenagon Asset Management S.A. raised its stake in shares of Micron Technology, Inc. (NASDAQ:MUGet Rating) by 0.8% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 29,628 shares of the semiconductor manufacturer’s stock after purchasing an additional 225 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Micron Technology were worth $2,308,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Concorde Financial Corp purchased a new stake in shares of Micron Technology in the 4th quarter worth about $27,000. SOA Wealth Advisors LLC. grew its position in shares of Micron Technology by 144.9% in the 1st quarter. SOA Wealth Advisors LLC. now owns 338 shares of the semiconductor manufacturer’s stock worth $26,000 after buying an additional 200 shares during the period. Sterling Investment Advisors Ltd. grew its position in shares of Micron Technology by 600.0% in the 4th quarter. Sterling Investment Advisors Ltd. now owns 350 shares of the semiconductor manufacturer’s stock worth $33,000 after buying an additional 300 shares during the period. Vectors Research Management LLC boosted its stake in Micron Technology by 60.3% in the 4th quarter. Vectors Research Management LLC now owns 372 shares of the semiconductor manufacturer’s stock worth $35,000 after purchasing an additional 140 shares in the last quarter. Finally, Paragon Capital Management Ltd bought a new position in Micron Technology in the 4th quarter worth about $42,000. 80.35% of the stock is currently owned by institutional investors and hedge funds.

A number of equities analysts recently issued reports on MU shares. Susquehanna reiterated a “buy” rating and issued a $115.00 price target on shares of Micron Technology in a research note on Monday, May 16th. BMO Capital Markets dropped their price target on shares of Micron Technology from $115.00 to $85.00 and set an “outperform” rating on the stock in a research note on Monday, June 27th. Raymond James dropped their price target on shares of Micron Technology from $115.00 to $72.00 and set a “strong-buy” rating on the stock in a research note on Friday, July 1st. Robert W. Baird dropped their price target on shares of Micron Technology from $90.00 to $60.00 and set a “neutral” rating on the stock in a research note on Friday, July 1st. Finally, Wedbush lowered their target price on shares of Micron Technology from $120.00 to $85.00 and set an “outperform” rating on the stock in a research note on Friday, July 1st. One analyst has rated the stock with a sell rating, four have given a hold rating, twenty-two have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Micron Technology has an average rating of “Moderate Buy” and a consensus target price of $87.42.

MU opened at $58.86 on Thursday. The company has a current ratio of 3.24, a quick ratio of 2.44 and a debt-to-equity ratio of 0.14. The firm has a market cap of $64.93 billion, a price-to-earnings ratio of 6.71, a PEG ratio of 0.53 and a beta of 1.28. The stock’s 50-day moving average price is $64.12 and its 200 day moving average price is $76.03. Micron Technology, Inc. has a 12-month low of $51.40 and a 12-month high of $98.45.

Micron Technology (NASDAQ:MUGet Rating) last released its quarterly earnings data on Thursday, June 30th. The semiconductor manufacturer reported $2.59 EPS for the quarter, beating analysts’ consensus estimates of $2.34 by $0.25. Micron Technology had a return on equity of 21.91% and a net margin of 30.61%. The business had revenue of $8.64 billion for the quarter, compared to the consensus estimate of $8.66 billion. During the same quarter in the prior year, the business posted $1.81 EPS. The business’s revenue for the quarter was up 16.4% on a year-over-year basis. On average, research analysts forecast that Micron Technology, Inc. will post 8.23 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 26th. Stockholders of record on Monday, July 11th will be issued a $0.115 dividend. The ex-dividend date of this dividend is Friday, July 8th. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.78%. This is an increase from Micron Technology’s previous quarterly dividend of $0.10. Micron Technology’s dividend payout ratio is presently 5.25%.

Micron Technology Company Profile (Get Rating)

Micron Technology, Inc designs, manufactures, and sells memory and storage products worldwide. The company operates through four segments: Compute and Networking Business Unit, Mobile Business Unit, Storage Business Unit, and Embedded Business Unit. It provides memory and storage technologies comprises DRAM products, which are dynamic random access memory semiconductor devices with low latency that provide high-speed data retrieval; NAND products that are non-volatile and re-writeable semiconductor storage devices; and NOR memory products, which are non-volatile re-writable semiconductor memory devices that provide fast read speeds under the Micron and Crucial brands, as well as through private labels.

See Also

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Institutional Ownership by Quarter for Micron Technology (NASDAQ:MU)



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