Ifrah Financial Services Inc. Lowers Stake in Micron Technology, Inc. (NASDAQ:MU)

Ifrah Financial Services Inc. lowered its stake in shares of Micron Technology, Inc. (NASDAQ:MU) by 9.0% in the fourth quarter, HoldingsChannel.com reports. The firm owned 5,401 shares of the semiconductor manufacturer’s stock after selling 533 shares during the period. Ifrah Financial Services Inc.’s holdings in Micron Technology were worth $461,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. OFI Invest Asset Management acquired a new stake in Micron Technology during the 3rd quarter worth approximately $27,000. Annis Gardner Whiting Capital Advisors LLC acquired a new stake in Micron Technology during the 3rd quarter worth approximately $28,000. VisionPoint Advisory Group LLC lifted its holdings in Micron Technology by 68.3% during the 3rd quarter. VisionPoint Advisory Group LLC now owns 488 shares of the semiconductor manufacturer’s stock worth $33,000 after buying an additional 198 shares in the last quarter. Cape Investment Advisory Inc. lifted its holdings in Micron Technology by 51.0% during the 3rd quarter. Cape Investment Advisory Inc. now owns 592 shares of the semiconductor manufacturer’s stock worth $40,000 after buying an additional 200 shares in the last quarter. Finally, Clear Street Markets LLC lifted its holdings in Micron Technology by 67.5% during the 3rd quarter. Clear Street Markets LLC now owns 623 shares of the semiconductor manufacturer’s stock worth $42,000 after buying an additional 251 shares in the last quarter. Hedge funds and other institutional investors own 80.84% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have issued reports on MU. Needham & Company LLC increased their target price on shares of Micron Technology from $100.00 to $120.00 and gave the stock a “buy” rating in a report on Thursday, March 21st. Piper Sandler raised their price objective on shares of Micron Technology from $95.00 to $130.00 and gave the company an “overweight” rating in a report on Thursday, March 21st. Wedbush raised their price objective on shares of Micron Technology from $103.00 to $130.00 and gave the company an “outperform” rating in a report on Thursday, March 21st. Argus upgraded shares of Micron Technology from a “hold” rating to a “buy” rating and set a $140.00 price objective on the stock in a report on Thursday, March 21st. Finally, Fox Advisors upgraded shares of Micron Technology from an “equal weight” rating to 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, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $122.20.

Insider Activity

In other news, CEO Sanjay Mehrotra sold 7,000 shares of Micron Technology stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $84.84, for a total value of $593,880.00. Following the sale, the chief executive officer now 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 SEC, which can be accessed through this hyperlink. In related news, EVP April S. Arnzen sold 4,890 shares of the business’s stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $119.30, for a total transaction of $583,377.00. Following the sale, the executive vice president now owns 148,817 shares of the company’s stock, valued at $17,753,868.10. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Sanjay Mehrotra sold 7,000 shares of the business’s stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $84.84, for a total transaction of $593,880.00. Following the sale, the chief executive officer now directly owns 788,557 shares in the company, valued at approximately $66,901,175.88. The disclosure for this sale can be found here. Insiders have sold a total of 323,890 shares of company stock valued at $36,079,267 over the last quarter. Corporate insiders own 0.32% of the company’s stock.

Micron Technology Stock Performance

Micron Technology stock traded up $2.37 during midday trading on Friday, hitting $114.70. 15,564,363 shares of the company’s stock were exchanged, compared to its average volume of 21,228,284. 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 quick ratio of 2.40 and a current ratio of 3.74. The stock has a market cap of $126.63 billion, a price-to-earnings ratio of -33.25 and a beta of 1.27. The firm’s 50 day simple moving average is $108.95 and its 200 day simple moving average is $89.67.

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

Micron Technology Announces Dividend

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