ANTIPODES PARTNERS Ltd Decreases Stock Position in Micron Technology, Inc. (NASDAQ:MU)

ANTIPODES PARTNERS Ltd lessened its stake in shares of Micron Technology, Inc. (NASDAQ:MU) by 88.2% during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 73,248 shares of the semiconductor manufacturer’s stock after selling 546,154 shares during the period. ANTIPODES PARTNERS Ltd’s holdings in Micron Technology were worth $9,634,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Atria Investments Inc grew its position in shares of Micron Technology by 0.3% during the 1st quarter. Atria Investments Inc now owns 27,749 shares of the semiconductor manufacturer’s stock worth $3,269,000 after buying an additional 93 shares in the last quarter. Aspect Partners LLC lifted its stake in shares of Micron Technology by 39.8% during the 2nd quarter. Aspect Partners LLC now owns 330 shares of the semiconductor manufacturer’s stock worth $43,000 after purchasing an additional 94 shares during the last quarter. Revolve Wealth Partners LLC lifted its stake in shares of Micron Technology by 1.5% during the 1st quarter. Revolve Wealth Partners LLC now owns 6,582 shares of the semiconductor manufacturer’s stock worth $776,000 after purchasing an additional 98 shares during the last quarter. Ameritas Advisory Services LLC lifted its stake in shares of Micron Technology by 1.3% during the 2nd quarter. Ameritas Advisory Services LLC now owns 7,625 shares of the semiconductor manufacturer’s stock worth $1,003,000 after purchasing an additional 98 shares during the last quarter. Finally, LRI Investments LLC lifted its stake in shares of Micron Technology by 57.2% during the 2nd quarter. LRI Investments LLC now owns 272 shares of the semiconductor manufacturer’s stock worth $36,000 after purchasing an additional 99 shares during the last quarter. Hedge funds and other institutional investors own 80.84% of the company’s stock.

Insider Buying and Selling at Micron Technology

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of Micron Technology stock in a transaction on Thursday, June 27th. The stock was sold at an average price of $135.86, for a total value of $664,355.40. Following the sale, the executive vice president now owns 142,321 shares in the company, valued at $19,335,731.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Sanjay Mehrotra sold 34,284 shares of Micron Technology stock in a transaction on Tuesday, June 18th. The stock was sold at an average price of $152.28, for a total value of $5,220,767.52. Following the completion of the sale, the chief executive officer now directly owns 719,049 shares of the company’s stock, valued at $109,496,781.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP April S. Arnzen sold 4,890 shares of Micron Technology stock in a transaction on Thursday, June 27th. The shares were sold at an average price of $135.86, for a total value of $664,355.40. Following the completion of the sale, the executive vice president now directly owns 142,321 shares of the company’s stock, valued at $19,335,731.06. The disclosure for this sale can be found here. Insiders have sold 46,174 shares of company stock worth $6,827,113 over the last quarter. 0.32% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on MU shares. KeyCorp decreased their price target on Micron Technology from $165.00 to $145.00 and set an “overweight” rating for the company in a research note on Tuesday, August 6th. The Goldman Sachs Group increased their price target on Micron Technology from $138.00 to $158.00 and gave the company a “buy” rating in a research note on Thursday, June 27th. UBS Group decreased their price target on Micron Technology from $155.00 to $153.00 and set a “buy” rating for the company in a research note on Thursday, June 27th. Bank of America increased their price target on Micron Technology from $144.00 to $170.00 and gave the company a “buy” rating in a research note on Monday, June 17th. Finally, JPMorgan Chase & Co. raised their price objective on Micron Technology from $130.00 to $180.00 and gave the stock an “overweight” rating in a research note on Thursday, June 27th. Two equities research analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $157.12.

Micron Technology Stock Performance

NASDAQ MU opened at $89.39 on Friday. The company has a market cap of $99.12 billion, a PE ratio of -62.95 and a beta of 1.18. The stock’s 50 day simple moving average is $109.63 and its 200-day simple moving average is $114.52. Micron Technology, Inc. has a 1-year low of $63.83 and a 1-year high of $157.54. The company has a debt-to-equity ratio of 0.29, a current ratio of 3.41 and a quick ratio of 2.16.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings data on Wednesday, June 26th. The semiconductor manufacturer reported $0.62 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.14. Micron Technology had a negative return on equity of 4.01% and a negative net margin of 7.20%. The firm had revenue of $6.81 billion for the quarter, compared to the consensus estimate of $6.67 billion. During the same quarter last year, the business posted ($1.57) earnings per share. The firm’s revenue was up 81.5% compared to the same quarter last year. As a group, equities research analysts anticipate that Micron Technology, Inc. will post 0.58 EPS for the current fiscal year.

Micron Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 23rd. Shareholders of record on Monday, July 8th were given a $0.115 dividend. The ex-dividend date was Monday, July 8th. This represents a $0.46 dividend on an annualized basis and a yield of 0.51%. Micron Technology’s dividend payout ratio is currently -32.39%.

About Micron Technology

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.