Parametrica Management Ltd Purchases Shares of 11,900 Micron Technology, Inc. (NASDAQ:MU)

Parametrica Management Ltd purchased a new stake in shares of Micron Technology, Inc. (NASDAQ:MU) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 11,900 shares of the semiconductor manufacturer’s stock, valued at approximately $1,016,000. Micron Technology accounts for approximately 1.7% of Parametrica Management Ltd’s holdings, making the stock its 19th largest holding.

Other institutional investors have also added to or reduced their stakes in the company. Annis Gardner Whiting Capital Advisors LLC bought a new stake in shares of Micron Technology in the 3rd quarter worth approximately $28,000. OFI Invest Asset Management bought a new stake in shares of Micron Technology in the 3rd quarter worth approximately $27,000. VisionPoint Advisory Group LLC boosted its position in shares of Micron Technology by 68.3% in the 3rd quarter. VisionPoint Advisory Group LLC now owns 488 shares of the semiconductor manufacturer’s stock worth $33,000 after purchasing an additional 198 shares in the last quarter. Cape Investment Advisory Inc. boosted its position in shares of Micron Technology by 51.0% in the 3rd quarter. Cape Investment Advisory Inc. now owns 592 shares of the semiconductor manufacturer’s stock worth $40,000 after purchasing an additional 200 shares in the last quarter. Finally, Clear Street Markets LLC boosted its position in shares of Micron Technology by 67.5% in the 3rd quarter. Clear Street Markets LLC now owns 623 shares of the semiconductor manufacturer’s stock worth $42,000 after purchasing an additional 251 shares in the last quarter. 80.84% of the stock is currently owned by institutional investors.

Micron Technology Stock Performance

Shares of Micron Technology stock traded up $3.26 during trading hours on Friday, hitting $114.84. The company’s stock had a trading volume of 20,612,299 shares, compared to its average volume of 24,401,036. The business has a 50 day moving average price of $105.94 and a two-hundred day moving average price of $88.17. Micron Technology, Inc. has a 12-month low of $59.55 and a 12-month high of $130.54. The company has a debt-to-equity ratio of 0.30, a current ratio of 3.74 and a quick ratio of 2.40.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings data on Wednesday, March 20th. The semiconductor manufacturer reported $0.42 EPS for the quarter, beating the consensus estimate of ($0.27) by $0.69. Micron Technology had a negative return on equity of 8.98% and a negative net margin of 20.57%. The business had revenue of $5.82 billion for the quarter, compared to the consensus estimate of $5.35 billion. During the same period in the previous year, the business earned ($2.03) earnings per share. The business’s revenue was up 57.7% on a year-over-year basis. As a group, equities analysts forecast that Micron Technology, Inc. will post 0.24 EPS for the current fiscal year.

Micron Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 16th. Stockholders of record on Monday, April 1st were given a $0.115 dividend. The ex-dividend date of this dividend was Thursday, March 28th. This represents a $0.46 annualized dividend and a dividend yield of 0.40%. Micron Technology’s payout ratio is -13.33%.

Insider Activity

In other news, CEO Sanjay Mehrotra sold 7,000 shares of Micron Technology stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $84.84, for a total value of $593,880.00. Following the sale, the chief executive officer now directly owns 788,557 shares of the company’s stock, valued at $66,901,175.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Sanjay Mehrotra sold 7,000 shares of Micron Technology stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $84.84, for a total value of $593,880.00. Following the sale, the chief executive officer now directly owns 788,557 shares of the company’s stock, valued at $66,901,175.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP April S. Arnzen sold 4,890 shares of Micron Technology stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $119.30, for a total value of $583,377.00. Following the completion of the sale, the executive vice president now directly owns 148,817 shares in the company, valued at $17,753,868.10. The disclosure for this sale can be found here. Insiders have sold 268,890 shares of company stock worth $29,738,667 over the last ninety days. Corporate insiders own 0.32% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on MU shares. Fox Advisors raised Micron Technology from an “equal weight” rating to an “overweight” rating in a research report on Thursday, March 21st. Wedbush boosted their price objective on shares of Micron Technology from $103.00 to $130.00 and gave the stock an “outperform” rating in a report on Thursday, March 21st. Bank of America boosted their price objective on shares of Micron Technology from $120.00 to $144.00 and gave the stock a “buy” rating in a report on Monday, April 1st. Wells Fargo & Company boosted their price objective on shares of Micron Technology from $125.00 to $135.00 and gave the stock an “overweight” rating in a report on Thursday, March 21st. Finally, Piper Sandler boosted their price objective on shares of Micron Technology from $95.00 to $130.00 and gave the stock an “overweight” rating in a report on Thursday, March 21st. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $122.20.

Micron Technology Company 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.