Amalgamated Bank Sells 4,205 Shares of Micron Technology, Inc. (NASDAQ:MU)

Amalgamated Bank lessened its holdings in Micron Technology, Inc. (NASDAQ:MU) by 1.8% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 223,320 shares of the semiconductor manufacturer’s stock after selling 4,205 shares during the quarter. Amalgamated Bank’s holdings in Micron Technology were worth $29,373,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently bought and sold shares of the business. Price T Rowe Associates Inc. MD boosted its position in Micron Technology by 22.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 18,243,633 shares of the semiconductor manufacturer’s stock valued at $2,150,743,000 after purchasing an additional 3,315,988 shares in the last quarter. Capital International Investors boosted its position in Micron Technology by 15.1% during the first quarter. Capital International Investors now owns 18,303,506 shares of the semiconductor manufacturer’s stock valued at $2,157,800,000 after purchasing an additional 2,397,885 shares in the last quarter. Swedbank AB boosted its position in Micron Technology by 473.8% during the second quarter. Swedbank AB now owns 2,649,180 shares of the semiconductor manufacturer’s stock valued at $348,447,000 after purchasing an additional 2,187,460 shares in the last quarter. 1832 Asset Management L.P. boosted its position in Micron Technology by 301,500.0% during the first quarter. 1832 Asset Management L.P. now owns 1,809,600 shares of the semiconductor manufacturer’s stock valued at $213,334,000 after purchasing an additional 1,809,000 shares in the last quarter. Finally, Van ECK Associates Corp boosted its position in Micron Technology by 28.9% during the first quarter. Van ECK Associates Corp now owns 7,566,572 shares of the semiconductor manufacturer’s stock valued at $892,023,000 after purchasing an additional 1,695,876 shares in the last quarter. Institutional investors own 80.84% of the company’s stock.

Insider Activity

In related news, EVP April S. Arnzen sold 4,890 shares of the stock in a transaction dated Thursday, June 27th. The stock was sold at an average price of $135.86, for a total transaction of $664,355.40. Following the transaction, the executive vice president now owns 142,321 shares of the company’s stock, valued at approximately $19,335,731.06. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.32% of the company’s stock.

Micron Technology Stock Performance

NASDAQ MU opened at $88.73 on Wednesday. The stock’s fifty day moving average is $102.46 and its two-hundred day moving average is $114.96. The firm has a market capitalization of $98.39 billion, a P/E ratio of -62.49 and a beta of 1.17. The company has a debt-to-equity ratio of 0.29, a quick ratio of 2.16 and a current ratio of 3.41. Micron Technology, Inc. has a fifty-two week low of $63.83 and a fifty-two week high of $157.54.

Micron Technology (NASDAQ:MU) last released its quarterly earnings data on Wednesday, June 26th. The semiconductor manufacturer reported $0.62 earnings per share for the quarter, topping analysts’ consensus estimates of $0.48 by $0.14. The company had revenue of $6.81 billion for the quarter, compared to analyst estimates of $6.67 billion. Micron Technology had a negative return on equity of 4.01% and a negative net margin of 7.20%. The firm’s revenue for the quarter was up 81.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($1.57) earnings per share. On average, research analysts anticipate that Micron Technology, Inc. will post 0.61 earnings per share for the current year.

Micron Technology Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 23rd. Stockholders of record on Monday, July 8th were paid a $0.115 dividend. This represents a $0.46 annualized dividend and a dividend yield of 0.52%. The ex-dividend date of this dividend was Monday, July 8th. Micron Technology’s dividend payout ratio (DPR) is presently -32.39%.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Raymond James lowered their price target on Micron Technology from $160.00 to $125.00 and set an “outperform” rating for the company in a report on Thursday, September 12th. Morgan Stanley lowered their price target on Micron Technology from $140.00 to $100.00 and set an “equal weight” rating for the company in a report on Monday. TD Cowen raised their price target on Micron Technology from $150.00 to $160.00 and gave the stock a “buy” rating in a report on Thursday, June 27th. Susquehanna decreased their target price on Micron Technology from $185.00 to $175.00 and set a “positive” rating for the company in a report on Thursday, August 22nd. Finally, JPMorgan Chase & Co. lifted their target price on Micron Technology from $130.00 to $180.00 and gave the stock an “overweight” rating in a report on Thursday, June 27th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-five have issued a buy rating to the company’s stock. Based on data from MarketBeat, Micron Technology currently has a consensus rating of “Moderate Buy” and a consensus target price of $149.12.

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.