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

Kiltearn Partners LLP lessened its stake in shares of Micron Technology, Inc. (NASDAQ:MU) by 28.3% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 67,376 shares of the semiconductor manufacturer’s stock after selling 26,630 shares during the period. Micron Technology accounts for approximately 0.9% of Kiltearn Partners LLP’s portfolio, making the stock its 29th biggest position. Kiltearn Partners LLP’s holdings in Micron Technology were worth $6,988,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Atria Investments Inc raised its stake in shares of Micron Technology by 0.3% in the 1st quarter. Atria Investments Inc now owns 27,749 shares of the semiconductor manufacturer’s stock valued at $3,269,000 after acquiring an additional 93 shares during the period. Aspect Partners LLC lifted its stake in Micron Technology by 39.8% during the second quarter. Aspect Partners LLC now owns 330 shares of the semiconductor manufacturer’s stock worth $43,000 after purchasing an additional 94 shares in the last quarter. Ameritas Advisory Services LLC boosted its position in shares of Micron Technology by 1.3% during the second quarter. Ameritas Advisory Services LLC now owns 7,625 shares of the semiconductor manufacturer’s stock worth $1,003,000 after buying an additional 98 shares during the period. Stonebrook Private Inc. grew its stake in shares of Micron Technology by 4.2% in the third quarter. Stonebrook Private Inc. now owns 2,454 shares of the semiconductor manufacturer’s stock valued at $255,000 after buying an additional 98 shares in the last quarter. Finally, LRI Investments LLC raised its holdings in shares of Micron Technology by 57.2% in the 2nd quarter. LRI Investments LLC now owns 272 shares of the semiconductor manufacturer’s stock valued at $36,000 after buying an additional 99 shares during the period. Hedge funds and other institutional investors own 80.84% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. China Renaissance began coverage on shares of Micron Technology in a research report on Monday, October 28th. They set a “buy” rating and a $148.00 price target on the stock. Cantor Fitzgerald restated an “overweight” rating and issued a $150.00 price target on shares of Micron Technology in a research note on Tuesday, October 1st. BNP Paribas cut Micron Technology from an “outperform” rating to an “underperform” rating and reduced their price objective for the company from $140.00 to $67.00 in a research note on Thursday, September 12th. Robert W. Baird cut their price target on Micron Technology from $172.00 to $150.00 and set an “outperform” rating on the stock in a report on Friday, September 27th. Finally, KeyCorp decreased their price objective on Micron Technology from $145.00 to $135.00 and set an “overweight” rating for the company in a research note on Tuesday, October 8th. One analyst has rated the stock with a sell rating, two have given a hold rating and twenty-six have assigned a buy rating to the company’s stock. According to MarketBeat.com, Micron Technology currently has an average rating of “Moderate Buy” and an average price target of $143.04.

Insider Transactions at Micron Technology

In other news, EVP April S. Arnzen sold 4,890 shares of the company’s stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $113.00, for a total transaction of $552,570.00. Following the transaction, the executive vice president now directly owns 135,830 shares of the company’s stock, valued at $15,348,790. This represents a 3.47 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.32% of the company’s stock.

Micron Technology Stock Performance

NASDAQ MU opened at $101.80 on Wednesday. The firm has a market cap of $112.87 billion, a P/E ratio of 149.71 and a beta of 1.18. Micron Technology, Inc. has a 52-week low of $72.93 and a 52-week high of $157.54. The business’s 50-day moving average price is $103.07 and its 200 day moving average price is $111.90. The company has a quick ratio of 1.68, a current ratio of 2.64 and a debt-to-equity ratio of 0.29.

Micron Technology (NASDAQ:MU) last announced its earnings results on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 earnings per share for the quarter, beating the consensus estimate of $0.97 by $0.21. Micron Technology had a return on equity of 1.58% and a net margin of 3.10%. The company had revenue of $7.75 billion for the quarter, compared to the consensus estimate of $7.65 billion. During the same period last year, the business posted ($1.21) EPS. The company’s revenue was up 93.3% on a year-over-year basis. On average, equities research analysts expect that Micron Technology, Inc. will post 8.31 earnings per share for the current year.

Micron Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 23rd. Shareholders of record on Monday, October 7th were given a dividend of $0.115 per share. The ex-dividend date was Monday, October 7th. This represents a $0.46 dividend on an annualized basis and a yield of 0.45%. Micron Technology’s payout ratio is currently 67.65%.

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.