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

Kiltearn Partners LLP trimmed its stake in Micron Technology, Inc. (NASDAQ:MU) by 47.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 300,360 shares of the semiconductor manufacturer’s stock after selling 267,000 shares during the period. Micron Technology makes up approximately 3.4% of Kiltearn Partners LLP’s portfolio, making the stock its 10th biggest holding. Kiltearn Partners LLP’s holdings in Micron Technology were worth $37,335,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of MU. IFG Advisory LLC purchased a new position in shares of Micron Technology during the fourth quarter worth approximately $228,000. Eastover Investment Advisors LLC raised its stake in shares of Micron Technology by 1.4% during the fourth quarter. Eastover Investment Advisors LLC now owns 19,541 shares of the semiconductor manufacturer’s stock worth $1,668,000 after acquiring an additional 279 shares in the last quarter. Caprock Group LLC raised its stake in shares of Micron Technology by 5.7% during the fourth quarter. Caprock Group LLC now owns 16,660 shares of the semiconductor manufacturer’s stock worth $1,424,000 after acquiring an additional 900 shares in the last quarter. Dantai Capital Ltd purchased a new position in shares of Micron Technology during the fourth quarter worth approximately $1,566,000. Finally, Advocate Group LLC raised its stake in shares of Micron Technology by 5.1% during the fourth quarter. Advocate Group LLC now owns 28,708 shares of the semiconductor manufacturer’s stock worth $2,450,000 after acquiring an additional 1,391 shares in the last quarter. 80.84% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Micron Technology news, SVP Michael W. Bokan sold 15,000 shares of the business’s stock in a transaction dated Tuesday, April 30th. The stock was sold at an average price of $115.55, for a total value of $1,733,250.00. Following the completion of the transaction, the senior vice president now owns 153,387 shares of the company’s stock, valued at approximately $17,723,867.85. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Micron Technology news, SVP Michael W. Bokan sold 15,000 shares of the business’s stock in a transaction dated Tuesday, April 30th. The stock was sold at an average price of $115.55, for a total value of $1,733,250.00. Following the completion of the transaction, the senior vice president now owns 153,387 shares of the company’s stock, valued at approximately $17,723,867.85. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP April S. Arnzen sold 4,890 shares of the business’s stock in a transaction dated Thursday, June 27th. The stock was sold at an average price of $135.86, for a total value of $664,355.40. Following the completion of the transaction, the executive vice president now directly owns 142,321 shares of the company’s stock, valued at approximately $19,335,731.06. The disclosure for this sale can be found here. Insiders have sold a total of 236,730 shares of company stock worth $29,435,039 in the last quarter. Corporate insiders own 0.32% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on MU shares. Citigroup lifted their price target on shares of Micron Technology from $150.00 to $175.00 and gave the stock a “buy” rating in a research note on Monday, June 24th. Susquehanna lifted their target price on shares of Micron Technology from $143.00 to $185.00 and gave the stock a “positive” rating in a research note on Monday, June 17th. Needham & Company LLC lifted their target price on shares of Micron Technology from $120.00 to $150.00 and gave the stock a “buy” rating in a research note on Thursday, June 27th. Piper Sandler lifted their target price on shares of Micron Technology from $130.00 to $150.00 and gave the stock an “overweight” rating in a research note on Thursday, June 27th. Finally, Wells Fargo & Company lifted their target price on shares of Micron Technology from $135.00 to $190.00 and gave the stock an “overweight” rating in a research note on Thursday, June 20th. Two equities research analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $158.72.

Micron Technology Stock Up 1.8 %

Shares of MU stock traded up $1.96 during mid-day trading on Friday, reaching $109.41. 18,547,885 shares of the company’s stock traded hands, compared to its average volume of 22,686,388. Micron Technology, Inc. has a 12 month low of $61.75 and a 12 month high of $157.54. The company has a market cap of $121.32 billion, a P/E ratio of -77.05 and a beta of 1.18. The company has a quick ratio of 2.16, a current ratio of 3.41 and a debt-to-equity ratio of 0.29. The company’s 50-day moving average price is $131.01 and its 200-day moving average price is $112.25.

Micron Technology (NASDAQ:MU) last announced its earnings results on Wednesday, June 26th. The semiconductor manufacturer reported $0.62 EPS for the quarter, beating analysts’ consensus estimates of $0.48 by $0.14. The firm had revenue of $6.81 billion for the quarter, compared to analysts’ expectations of $6.67 billion. Micron Technology had a negative net margin of 7.20% and a negative return on equity of 4.01%. The company’s quarterly revenue was up 81.5% on a year-over-year basis. During the same quarter in the previous year, the business posted ($1.57) EPS. On average, equities analysts expect that Micron Technology, Inc. will post 0.58 earnings per share for the current fiscal year.

Micron Technology Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 23rd. Investors of record on Monday, July 8th were paid a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a yield of 0.42%. The ex-dividend date of this dividend was Monday, July 8th. Micron Technology’s payout ratio is -32.39%.

Micron Technology Company 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.