EULAV Asset Management Increases Stock Position in Micron Technology, Inc. (NASDAQ:MU)

EULAV Asset Management has significantly increased its holdings in Micron Technology, Inc. (NASDAQ:MU) by 80.0% during the fourth quarter. According to their latest Form 13F filing with the Securities and Exchange Commission, the firm now owns 90,000 shares of the semiconductor manufacturer after acquiring an additional 40,000 shares in this period. At the conclusion of the most recent quarter, EULAV's stake in Micron Technology was valued at approximately $7,574,000.

Recent Moves by Other Investors

Several other institutional investors have also made changes to their positions in Micron Technology. For instance, Highline Wealth Partners LLC entered a new investment valued at approximately $26,000 in the third quarter. Stone House Investment Management LLC increased its position in Micron Technology by an impressive 602.2%, now owning 323 shares worth $34,000 after buying an additional 277 shares. True Wealth Design LLC lifted its position by 1,096.3%, owning 323 shares valued at $33,000 following a purchase of 296 more shares during the last quarter.

DT Investment Partners LLC raised its holdings by 261.1%, owning 325 shares worth $34,000 after acquiring an extra 235 shares. Additionally, Darwin Wealth Management LLC established a new position in Micron Technology during the third quarter valued at approximately $39,000. Overall, institutional investors and hedge funds control 80.84% of the company's stock.

Current Stock Performance

On Friday, MU stock opened at $92.30. The company's 50-day simple moving average stands at $96.75, while its 200-day moving average is $99.31. Micron Technology has a market capitalization of $102.84 billion, with a PE ratio of 26.60 and a beta of 1.18. The firm maintains a debt-to-equity ratio of 0.28, with a current ratio of 2.72 and a quick ratio of 1.75. Notably, Micron has experienced a 12-month low of $79.15 and a high of $157.54.

Recent Earnings and Dividend Announcement

In its latest quarterly earnings report, released on December 18th, Micron Technology reported earnings of $1.79 per share, surpassing analysts' expectations of $1.60 by $0.19. The company achieved a net margin of 13.34% and a return on equity of 8.32%, with revenues of $8.71 billion during this quarter, matching analysts' consensus estimates. This is a significant increase compared to the same quarter last year, where the firm posted a loss of $0.95 earnings per share.

Furthermore, Micron recently declared a quarterly dividend which was paid to shareholders on January 15th. Shareholders of record on December 30th received a dividend of $0.115 per share. This dividend translates to an annualized payout of $0.46, reflecting a yield of 0.50%. Currently, Micron Technology's payout ratio stands at 13.26%.

Insider Activity and Analyst Ratings

A recent insider transaction involved EVP April S. Arnzen selling 4,890 shares of Micron's stock at an average price of $85.21, totaling approximately $416,676.90. Post-transaction, the EVP holds 181,223 shares, valued at about $15.44 million, representing a 2.63% reduction in ownership. Company insiders collectively own 0.30% of the stock.

Analysts’ Forecasts and Ratings

Analysts remain optimistic about Micron's performance, with several recent research reports addressing its stock. UBS Group downgraded their price target for Micron from $135.00 to $125.00 but maintained a "buy" rating. China Renaissance initiated coverage with a "buy" rating and a target price of $148.00. Stifel Nicolaus also reduced its price target from $135.00 to $130.00 while keeping a "buy" rating on the stock. Piper Sandler cut its target from $150.00 to $120.00 with an "overweight" rating. Overall, 23 analysts rated the stock as a "buy," while one analyst suggested a "sell," indicating a strong positive sentiment overall.

About Micron Technology, Inc.

Micron Technology, Inc. is a prominent player in the memory and storage industry. The company designs, develops, manufactures, and sells a variety of memory and storage products globally. Micron operates through four segments: Compute and Networking, Mobile, Embedded, and Storage. Their core offerings include dynamic random access memory (DRAM) and other non-volatile storage solutions that promise high-speed data retrieval, marketed under the Micron and Crucial brands.

EULAV, Micron, Stock