Allspring Global Investments Holdings LLC Buys 33,493 Shares of Micron Technology, Inc. (NASDAQ:MU)

Allspring Global Investments Holdings LLC boosted its stake in Micron Technology, Inc. (NASDAQ:MU) by 15.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 255,840 shares of the semiconductor manufacturer’s stock after acquiring an additional 33,493 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Micron Technology were worth $21,833,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Fortis Capital Advisors LLC bought a new stake in Micron Technology in the 4th quarter valued at $25,000. OFI Invest Asset Management bought a new stake in Micron Technology during the 3rd quarter worth about $27,000. Annis Gardner Whiting Capital Advisors LLC bought a new stake in Micron Technology during the 3rd quarter worth about $28,000. Coppell Advisory Solutions LLC bought a new stake in Micron Technology during the 2nd quarter worth about $32,000. Finally, VisionPoint Advisory Group LLC lifted its position 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. 80.84% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

MU has been the topic of several analyst reports. StockNews.com raised shares of Micron Technology from a “sell” rating to a “hold” rating in a research report on Friday, March 22nd. Mizuho boosted their price target on shares of Micron Technology from $105.00 to $124.00 and gave the stock a “buy” rating in a research report on Thursday, March 21st. KeyCorp boosted their price target on shares of Micron Technology from $135.00 to $150.00 and gave the stock an “overweight” rating in a research report on Monday, April 8th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $140.00 target price on shares of Micron Technology in a report on Friday. Finally, Robert W. Baird upped their target price on shares of Micron Technology from $78.00 to $115.00 and gave the company a “neutral” rating in a report on Tuesday, March 19th. One research analyst has rated the stock with a sell rating, two have given a hold rating and twenty-four have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $122.20.

Micron Technology Stock Performance

Shares of NASDAQ:MU opened at $122.52 on Friday. The company’s 50 day moving average price is $99.93 and its two-hundred day moving average price is $85.12. Micron Technology, Inc. has a 12-month low of $58.03 and a 12-month high of $130.54. The firm has a market cap of $135.67 billion, a PE ratio of -35.51 and a beta of 1.27. The company has a quick ratio of 2.40, a current ratio of 3.74 and a debt-to-equity ratio of 0.30.

Micron Technology (NASDAQ:MU) last announced its earnings results on Wednesday, March 20th. The semiconductor manufacturer reported $0.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $5.82 billion for the quarter, compared to analyst estimates of $5.35 billion. During the same quarter in the prior year, the business posted ($2.03) EPS. The business’s revenue was up 57.7% compared to the same quarter last year. Equities research analysts predict that Micron Technology, Inc. will post 0.24 earnings per share for the current year.

Micron Technology Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 16th. Investors of record on Monday, April 1st will be given a dividend of $0.115 per share. The ex-dividend date is Thursday, March 28th. This represents a $0.46 annualized dividend and a dividend yield of 0.38%. Micron Technology’s dividend payout ratio is -13.33%.

Insider Buying and Selling

In related news, CEO Sanjay Mehrotra sold 7,000 shares of the stock in a transaction that occurred on Tuesday, January 23rd. The shares were sold at an average price of $87.41, for a total transaction of $611,870.00. Following the sale, the chief executive officer now owns 642,251 shares in the company, valued at approximately $56,139,159.91. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Sanjay Mehrotra sold 7,000 shares of the stock in a transaction that occurred on Tuesday, January 23rd. The shares were sold at an average price of $87.41, for a total transaction of $611,870.00. Following the sale, the chief executive officer now owns 642,251 shares in the company, valued at approximately $56,139,159.91. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP April S. Arnzen sold 4,890 shares of the stock in a transaction that occurred on Wednesday, March 27th. The shares were sold at an average price of $119.30, for a total transaction of $583,377.00. Following the completion of the transaction, the executive vice president now directly owns 148,817 shares of the company’s stock, valued at approximately $17,753,868.10. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 313,890 shares of company stock worth $33,354,527. Corporate insiders own 0.32% of the company’s stock.

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.