Kiltearn Partners LLP Decreases Stake in Micron Technology, Inc. (NASDAQ:MU)

Kiltearn Partners LLP lowered its stake in shares of Micron Technology, Inc. (NASDAQ:MU) by 10.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 60,576 shares of the semiconductor manufacturer’s stock after selling 6,800 shares during the period. Kiltearn Partners LLP’s holdings in Micron Technology were worth $5,098,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also modified their holdings of MU. Trivant Custom Portfolio Group LLC lifted its stake in shares of Micron Technology by 20.0% in the 4th quarter. Trivant Custom Portfolio Group LLC now owns 600 shares of the semiconductor manufacturer’s stock valued at $50,000 after purchasing an additional 100 shares during the period. Xcel Wealth Management LLC grew its holdings in Micron Technology by 1.8% during the fourth quarter. Xcel Wealth Management LLC now owns 6,157 shares of the semiconductor manufacturer’s stock valued at $518,000 after purchasing an additional 108 shares during the period. Bay Colony Advisory Group Inc d b a Bay Colony Advisors increased its stake in Micron Technology by 3.8% in the fourth quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 2,973 shares of the semiconductor manufacturer’s stock valued at $250,000 after purchasing an additional 108 shares in the last quarter. Lebenthal Global Advisors LLC raised its holdings in Micron Technology by 1.5% in the fourth quarter. Lebenthal Global Advisors LLC now owns 7,474 shares of the semiconductor manufacturer’s stock worth $629,000 after purchasing an additional 114 shares during the period. Finally, Register Financial Advisors LLC grew its holdings in shares of Micron Technology by 1.1% in the 4th quarter. Register Financial Advisors LLC now owns 11,526 shares of the semiconductor manufacturer’s stock valued at $970,000 after buying an additional 121 shares during the period. Hedge funds and other institutional investors own 80.84% of the company’s stock.

Micron Technology Price Performance

NASDAQ:MU opened at $91.16 on Friday. Micron Technology, Inc. has a 12-month low of $83.54 and a 12-month high of $157.54. The firm has a market capitalization of $101.88 billion, a price-to-earnings ratio of 26.27 and a beta of 1.23. The stock’s 50 day moving average price is $96.35 and its two-hundred day moving average price is $98.36. The company has a quick ratio of 1.75, a current ratio of 2.72 and a debt-to-equity ratio of 0.28.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings results on Thursday, March 20th. The semiconductor manufacturer reported $1.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.43 by $0.13. The business had revenue of $8.05 billion during the quarter, compared to the consensus estimate of $7.93 billion. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. The company’s quarterly revenue was up 38.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.42 EPS. On average, analysts anticipate that Micron Technology, Inc. will post 6.08 earnings per share for the current year.

Micron Technology Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be given a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.50%. The ex-dividend date of this dividend is Monday, March 31st. Micron Technology’s payout ratio is currently 11.03%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Piper Sandler decreased their price objective on Micron Technology from $150.00 to $120.00 and set an “overweight” rating for the company in a research report on Thursday, December 19th. The Goldman Sachs Group reduced their price target on shares of Micron Technology from $145.00 to $128.00 and set a “buy” rating for the company in a report on Thursday, December 19th. Sanford C. Bernstein dropped their price objective on shares of Micron Technology from $140.00 to $120.00 and set an “outperform” rating on the stock in a report on Wednesday, December 18th. Needham & Company LLC reduced their target price on shares of Micron Technology from $140.00 to $120.00 and set a “buy” rating for the company in a research note on Thursday, December 19th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $130.00 price target on shares of Micron Technology in a research note on Friday, March 21st. One analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $129.96.

Insider Buying and Selling at Micron Technology

In related news, EVP April S. Arnzen sold 15,000 shares of the stock in a transaction that occurred on Tuesday, March 25th. The shares were sold at an average price of $96.18, for a total value of $1,442,700.00. Following the completion of the transaction, the executive vice president now owns 164,769 shares of the company’s stock, valued at $15,847,482.42. This represents a 8.34 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Mary Pat Mccarthy sold 2,404 shares of the business’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $92.93, for a total transaction of $223,403.72. Following the sale, the director now directly owns 27,358 shares in the company, valued at approximately $2,542,378.94. The trade was a 8.08 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.30% of the company’s stock.

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.