Citizens Financial Group Inc. RI Buys New Holdings in Micron Technology, Inc. (NASDAQ:MU)

Citizens Financial Group Inc. RI bought a new stake in shares of Micron Technology, Inc. (NASDAQ:MU) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 2,640 shares of the semiconductor manufacturer’s stock, valued at approximately $225,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of MU. Annis Gardner Whiting Capital Advisors LLC bought a new position in shares of Micron Technology in the 3rd quarter worth approximately $28,000. OFI Invest Asset Management bought a new position in shares of Micron Technology in the 3rd quarter worth approximately $27,000. VisionPoint Advisory Group LLC raised 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 acquiring an additional 198 shares in the last quarter. Cape Investment Advisory Inc. raised 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 acquiring an additional 200 shares in the last quarter. Finally, Clear Street Markets LLC raised 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 acquiring an additional 251 shares in the last quarter. Institutional investors own 80.84% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Barclays increased their target price on Micron Technology from $95.00 to $120.00 and gave the stock an “overweight” rating in a research report on Monday, March 18th. TD Cowen increased their target price on Micron Technology from $120.00 to $150.00 and gave the stock an “outperform” rating in a research report on Thursday, March 21st. Bank of America raised their price objective on Micron Technology from $120.00 to $144.00 and gave the company a “buy” rating in a research report on Monday, April 1st. Morgan Stanley raised their price objective on Micron Technology from $78.00 to $98.00 and gave the company an “underweight” rating in a research report on Thursday, March 21st. Finally, Fox Advisors raised Micron Technology from an “equal weight” rating to an “overweight” rating in a research report on Thursday, March 21st. 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. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $122.20.

Insiders Place Their Bets

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

Micron Technology Price Performance

NASDAQ:MU opened at $114.84 on Monday. Micron Technology, Inc. has a 52 week low of $59.55 and a 52 week high of $130.54. The company has a quick ratio of 2.40, a current ratio of 3.74 and a debt-to-equity ratio of 0.30. The business’s 50-day simple moving average is $105.94 and its two-hundred day simple moving average is $88.43. The stock has a market cap of $127.17 billion, a PE ratio of -33.29 and a beta of 1.27.

Micron Technology (NASDAQ:MU) last issued its earnings results 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 return on equity of 8.98% and a negative net margin of 20.57%. The firm had revenue of $5.82 billion for the quarter, compared to analysts’ expectations of $5.35 billion. During the same period in the previous year, the firm posted ($2.03) earnings per share. The business’s revenue was up 57.7% compared to the same quarter last year. As a group, analysts forecast that Micron Technology, Inc. will post 0.24 EPS for the current fiscal year.

Micron Technology Dividend Announcement

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

Micron Technology 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.