River Global Investors LLP Reduces Stock Position in Micron Technology, Inc. (NASDAQ:MU)

River Global Investors LLP lessened its stake in Micron Technology, Inc. (NASDAQ:MUFree Report) by 1.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 28,871 shares of the semiconductor manufacturer’s stock after selling 300 shares during the period. River Global Investors LLP’s holdings in Micron Technology were worth $2,464,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Annis Gardner Whiting Capital Advisors LLC bought a new position in shares of Micron Technology in the 3rd quarter worth approximately $28,000. OFI Invest Asset Management bought a new position in Micron Technology in the third quarter worth approximately $27,000. VisionPoint Advisory Group LLC raised its position in Micron Technology by 68.3% in the third quarter. VisionPoint Advisory Group LLC now owns 488 shares of the semiconductor manufacturer’s stock worth $33,000 after acquiring an additional 198 shares during the period. Cape Investment Advisory Inc. boosted its stake in shares of Micron Technology by 51.0% during the 3rd quarter. Cape Investment Advisory Inc. now owns 592 shares of the semiconductor manufacturer’s stock worth $40,000 after acquiring an additional 200 shares during the last quarter. Finally, Clear Street Markets LLC grew its position in shares of Micron Technology by 67.5% during the 3rd quarter. Clear Street Markets LLC now owns 623 shares of the semiconductor manufacturer’s stock valued at $42,000 after acquiring an additional 251 shares during the period. 80.84% of the stock is currently owned by hedge funds and other institutional investors.

Micron Technology Price Performance

MU traded up $2.37 during trading hours on Friday, hitting $114.70. The company’s stock had a trading volume of 15,564,363 shares, compared to its average volume of 21,228,284. Micron Technology, Inc. has a 12 month low of $59.55 and a 12 month high of $130.54. The company has a current ratio of 3.74, a quick ratio of 2.40 and a debt-to-equity ratio of 0.30. The business’s 50-day moving average price is $108.95 and its 200-day moving average price is $89.67. The stock has a market cap of $126.63 billion, a price-to-earnings ratio of -33.25 and a beta of 1.27.

Micron Technology (NASDAQ:MUGet Free Report) last released its quarterly earnings results on Wednesday, March 20th. The semiconductor manufacturer reported $0.42 EPS for the quarter, topping the consensus estimate of ($0.27) by $0.69. Micron Technology had a negative return on equity of 8.98% and a negative net margin of 20.57%. The company had revenue of $5.82 billion during the quarter, compared to analyst estimates of $5.35 billion. During the same quarter last year, the business posted ($2.03) earnings per share. The firm’s revenue was up 57.7% on a year-over-year basis. Sell-side analysts expect that Micron Technology, Inc. will post 0.24 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, April 16th. Investors of record on Monday, April 1st were issued a dividend of $0.115 per share. The ex-dividend date was Thursday, March 28th. This represents a $0.46 annualized dividend and a yield of 0.40%. Micron Technology’s payout ratio is -13.33%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on MU shares. TD Cowen raised their target price on Micron Technology from $120.00 to $150.00 and gave the stock an “outperform” rating in a report on Thursday, March 21st. StockNews.com raised Micron Technology from a “sell” rating to a “hold” rating in a research report on Friday, March 22nd. Bank of America increased their target price on shares of Micron Technology from $120.00 to $144.00 and gave the stock a “buy” rating in a report on Monday, April 1st. Barclays raised their target price on shares of Micron Technology from $95.00 to $120.00 and gave the stock an “overweight” rating in a research note on Monday, March 18th. Finally, Raymond James upped their price target on shares of Micron Technology from $90.00 to $100.00 and gave the stock an “outperform” rating in a research report on Friday, January 19th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $122.20.

View Our Latest Analysis on Micron Technology

Insider Buying and Selling

In other news, CEO Sanjay Mehrotra sold 45,000 shares of the stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $100.00, for a total value of $4,500,000.00. Following the sale, the chief executive officer now directly owns 773,557 shares in the company, valued at $77,355,700. The sale was disclosed in a document filed with the SEC, which is available at 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 shares were sold at an average price of $115.55, for a total value of $1,733,250.00. Following the completion of the sale, the senior vice president now directly owns 153,387 shares of the company’s stock, valued at approximately $17,723,867.85. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Sanjay Mehrotra sold 45,000 shares of the company’s stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $100.00, for a total transaction of $4,500,000.00. Following the completion of the transaction, the chief executive officer now owns 773,557 shares in the company, valued at $77,355,700. The disclosure for this sale can be found here. Insiders have sold 323,890 shares of company stock valued at $36,079,267 in the last ninety days. 0.32% of the stock is owned by company insiders.

About Micron Technology

(Free Report)

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.

Further Reading

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

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