Natixis Advisors L.P. Has $21.02 Million Stock Holdings in Micron Technology, Inc. (NASDAQ:MU)

Posted by on Apr 11th, 2023

Natixis Advisors L.P. boosted its position in shares of Micron Technology, Inc. (NASDAQ:MU – Get Rating) by 32.5% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 420,510 shares of the semiconductor manufacturer’s stock after purchasing an additional 103,059 shares during the period. Natixis Advisors L.P.’s holdings in Micron Technology were worth $21,017,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Renaissance Technologies LLC bought a new stake in shares of Micron Technology during the third quarter valued at approximately $374,114,000. Fairfax Financial Holdings Ltd. Can boosted its position in Micron Technology by 399.3% in the 3rd quarter. Fairfax Financial Holdings Ltd. Can now owns 3,462,049 shares of the semiconductor manufacturer’s stock valued at $173,483,000 after buying an additional 2,768,649 shares during the last quarter. Pacer Advisors Inc. boosted its holdings in Micron Technology by 3,953.3% in the third quarter. Pacer Advisors Inc. now owns 2,665,173 shares of the semiconductor manufacturer’s stock valued at $133,525,000 after acquiring an additional 2,599,420 shares during the last quarter. Two Sigma Investments LP acquired a new stake in Micron Technology in the third quarter worth about $111,372,000. Finally, Barclays PLC raised its holdings in Micron Technology by 123.3% during the 3rd quarter. Barclays PLC now owns 3,726,636 shares of the semiconductor manufacturer’s stock worth $186,705,000 after purchasing an additional 2,057,970 shares during the last quarter. 78.02% of the stock is currently owned by institutional investors and hedge funds.

Micron Technology Trading Up 8.0 %

MU stock opened at $63.27 on Tuesday. Micron Technology, Inc. has a one year low of $48.43 and a one year high of $76.23. The stock has a market cap of $69.24 billion, a price-to-earnings ratio of 45.52 and a beta of 1.41. The company has a fifty day moving average price of $58.87 and a two-hundred day moving average price of $56.41. The company has a debt-to-equity ratio of 0.25, a current ratio of 4.17 and a quick ratio of 2.62.

Micron Technology (NASDAQ:MU – Get Rating) last released its quarterly earnings results on Tuesday, March 28th. The semiconductor manufacturer reported ($1.91) earnings per share for the quarter, missing the consensus estimate of ($0.75) by ($1.16). The firm had revenue of $3.69 billion for the quarter, compared to analyst estimates of $3.71 billion. Micron Technology had a return on equity of 3.98% and a net margin of 6.99%. The business’s revenue for the quarter was down 52.6% on a year-over-year basis. During the same period in the previous year, the business posted $2.05 earnings per share. Equities analysts anticipate that Micron Technology, Inc. will post -4.94 EPS for the current year.

Micron Technology Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 25th. Investors of record on Monday, April 10th will be given a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a yield of 0.73%. The ex-dividend date is Thursday, April 6th. Micron Technology’s dividend payout ratio is currently 33.09%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. JPMorgan Chase & Co. boosted their price target on shares of Micron Technology from $65.00 to $75.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 29th. Evercore ISI upped their price objective on Micron Technology from $65.00 to $75.00 and gave the company an “outperform” rating in a report on Monday, March 27th. Argus cut Micron Technology from a “buy” rating to a “hold” rating in a research note on Friday, December 30th. Mizuho raised shares of Micron Technology from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $48.00 to $72.00 in a research note on Friday, February 10th. Finally, Bank of America boosted their price target on shares of Micron Technology from $58.00 to $68.00 and gave the company a “neutral” rating in a report on Wednesday, March 29th. Three analysts have rated the stock with a sell rating, five have issued a hold rating and twenty-three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $68.50.

Insiders Place Their Bets

In other Micron Technology news, SVP Robert P. Beard sold 3,000 shares of the stock in a transaction dated Monday, January 23rd. The shares were sold at an average price of $61.25, for a total transaction of $183,750.00. Following the sale, the senior vice president now directly owns 42,840 shares in the company, valued at $2,623,950. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Micron Technology news, SVP Robert P. Beard sold 3,000 shares of the firm’s stock in a transaction on Monday, January 23rd. The stock was sold at an average price of $61.25, for a total value of $183,750.00. Following the sale, the senior vice president now owns 42,840 shares of the company’s stock, valued at approximately $2,623,950. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Scott J. Deboer sold 20,000 shares of the business’s stock in a transaction on Thursday, January 26th. The stock was sold at an average price of $62.23, for a total value of $1,244,600.00. Following the transaction, the executive vice president now directly owns 248,340 shares of the company’s stock, valued at approximately $15,454,198.20. The disclosure for this sale can be found here. Insiders have sold a total of 87,000 shares of company stock worth $5,182,190 in the last 90 days. Company insiders own 0.33% of the company’s stock.

About Micron Technology

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Micron Technology, Inc engages in the provision of innovative memory and storage solutions. It operates through the following segments: Compute & Networking Business Unit (CNBU), Mobile Business Unit (MBU), Storage Business Unit (SBU), and Embedded Business Unit (EBU). The CNBU segment includes memory products sold into cloud server, enterprise, client, graphics, and networking markets.

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Institutional Ownership by Quarter for Micron Technology (NASDAQ:MU)

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