Micron Technology, Inc. (NASDAQ:MU) Shares Bought by Federated Hermes Inc.

Federated Hermes Inc. raised its stake in Micron Technology, Inc. (NASDAQ:MU) by 34.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,775,689 shares of the semiconductor manufacturer’s stock after buying an additional 452,848 shares during the quarter. Federated Hermes Inc.’s holdings in Micron Technology were worth $151,537,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of MU. Northern Trust Corp increased its stake in Micron Technology by 0.7% in the third quarter. Northern Trust Corp now owns 10,833,670 shares of the semiconductor manufacturer’s stock valued at $737,015,000 after purchasing an additional 80,345 shares during the last quarter. L2 Asset Management LLC increased its stake in Micron Technology by 492.3% in the third quarter. L2 Asset Management LLC now owns 26,444 shares of the semiconductor manufacturer’s stock valued at $1,799,000 after purchasing an additional 21,979 shares during the last quarter. Invesco Ltd. increased its stake in Micron Technology by 11.8% in the third quarter. Invesco Ltd. now owns 8,807,926 shares of the semiconductor manufacturer’s stock valued at $599,203,000 after purchasing an additional 927,302 shares during the last quarter. Merlin Capital Inc purchased a new position in Micron Technology in the third quarter valued at approximately $407,000. Finally, Amitell Capital Pte Ltd increased its stake in Micron Technology by 97.9% in the third quarter. Amitell Capital Pte Ltd now owns 95,210 shares of the semiconductor manufacturer’s stock valued at $6,477,000 after purchasing an additional 47,105 shares during the last quarter. Institutional investors and hedge funds own 80.84% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. The Goldman Sachs Group increased their price target on shares of Micron Technology from $85.00 to $97.00 and gave the company a “buy” rating in a research note on Thursday, December 21st. Mizuho increased their price objective on Micron Technology from $105.00 to $124.00 and gave the company a “buy” rating in a report on Thursday, March 21st. Deutsche Bank Aktiengesellschaft increased their price objective on Micron Technology from $85.00 to $90.00 and gave the company a “buy” rating in a report on Thursday, December 21st. Fox Advisors raised Micron Technology from an “equal weight” rating to an “overweight” rating in a report on Thursday, March 21st. Finally, Piper Sandler increased their price target on Micron Technology from $95.00 to $130.00 and gave the stock an “overweight” rating in a report on Thursday, March 21st. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $122.20.

Insider Buying and Selling

In other Micron Technology news, CEO Sanjay Mehrotra sold 45,000 shares of the firm’s stock in a transaction dated Thursday, January 25th. The stock was sold at an average price of $90.00, for a total value of $4,050,000.00. Following the sale, the chief executive officer now directly owns 788,557 shares of the company’s stock, valued at approximately $70,970,130. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other Micron Technology news, CEO Sanjay Mehrotra sold 45,000 shares of the firm’s stock in a transaction dated Thursday, January 25th. The stock was sold at an average price of $90.00, for a total value of $4,050,000.00. Following the sale, the chief executive officer now directly owns 788,557 shares of the company’s stock, valued at approximately $70,970,130. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP April S. Arnzen sold 4,890 shares of Micron Technology stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $119.30, for a total value of $583,377.00. Following the completion of the transaction, 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. In the last quarter, insiders sold 313,890 shares of company stock worth $33,617,027. 0.32% of the stock is owned by corporate insiders.

Micron Technology Price Performance

Shares of MU stock traded down $2.75 during mid-day trading on Thursday, reaching $113.58. The stock had a trading volume of 11,853,096 shares, compared to its average volume of 20,169,063. Micron Technology, Inc. has a 12-month low of $58.03 and a 12-month high of $130.54. The company has a market cap of $125.78 billion, a P/E ratio of -33.60 and a beta of 1.27. The business has a 50-day simple moving average of $101.98 and a 200 day simple moving average of $86.22. The company has a current ratio of 3.74, a quick ratio of 2.40 and a debt-to-equity ratio of 0.30.

Micron Technology (NASDAQ:MU) last posted its quarterly earnings data on Wednesday, March 20th. The semiconductor manufacturer reported $0.42 EPS for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.69. The firm had revenue of $5.82 billion during the quarter, compared to analysts’ expectations of $5.35 billion. Micron Technology had a negative return on equity of 8.98% and a negative net margin of 20.57%. The firm’s quarterly revenue was up 57.7% compared to the same quarter last year. During the same quarter last year, the business posted ($2.03) EPS. On average, sell-side analysts anticipate that Micron Technology, Inc. will post 0.24 earnings per share for the current year.

Micron Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 16th. Investors of record on Monday, April 1st were given a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a yield of 0.41%. The ex-dividend date of this dividend was Thursday, March 28th. Micron Technology’s dividend payout ratio is presently -13.33%.

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.