Hosking Partners LLP trimmed its position in shares of Micron Technology, Inc. (NASDAQ:MU – Free Report) by 16.5% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 696,801 shares of the semiconductor manufacturer’s stock after selling 137,452 shares during the period. Micron Technology accounts for 1.9% of Hosking Partners LLP’s investment portfolio, making the stock its 14th biggest holding. Hosking Partners LLP owned 0.06% of Micron Technology worth $42,045,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Fortis Capital Advisors LLC bought a new stake in Micron Technology in the fourth quarter worth $25,000. Elequin Securities LLC bought a new stake in Micron Technology in the fourth quarter worth $30,000. Homestead Advisers Corp bought a new stake in Micron Technology in the first quarter worth $35,000. Core Alternative Capital boosted its holdings in Micron Technology by 112.6% in the first quarter. Core Alternative Capital now owns 625 shares of the semiconductor manufacturer’s stock worth $38,000 after purchasing an additional 331 shares in the last quarter. Finally, Trust Co. of Vermont boosted its holdings in Micron Technology by 30.6% in the fourth quarter. Trust Co. of Vermont now owns 1,068 shares of the semiconductor manufacturer’s stock worth $53,000 after purchasing an additional 250 shares in the last quarter. 80.27% of the stock is currently owned by hedge funds and other institutional investors.
Micron Technology Price Performance
Shares of Micron Technology stock traded down $1.26 during midday trading on Thursday, hitting $65.44. 12,770,324 shares of the company traded hands, compared to its average volume of 16,311,518. The stock has a market cap of $71.68 billion, a price-to-earnings ratio of -24.89 and a beta of 1.35. The company has a debt-to-equity ratio of 0.29, a quick ratio of 2.64 and a current ratio of 4.26. The firm’s fifty day moving average price is $66.41 and its 200-day moving average price is $62.92. Micron Technology, Inc. has a 12 month low of $48.43 and a 12 month high of $74.77.
Micron Technology (NASDAQ:MU – Get Free Report) last posted its earnings results on Wednesday, June 28th. The semiconductor manufacturer reported ($1.43) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.61) by $0.18. Micron Technology had a negative net margin of 16.02% and a negative return on equity of 5.40%. The firm had revenue of $3.75 billion for the quarter, compared to analyst estimates of $3.65 billion. During the same period in the previous year, the firm posted $2.50 EPS. The company’s revenue for the quarter was down 56.6% compared to the same quarter last year. As a group, sell-side analysts forecast that Micron Technology, Inc. will post -5.07 earnings per share for the current year.
Micron Technology Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Tuesday, July 25th. Investors of record on Monday, July 10th were given a dividend of $0.115 per share. The ex-dividend date was Friday, July 7th. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.70%. Micron Technology’s payout ratio is presently -17.16%.
Wall Street Analysts Forecast Growth
MU has been the subject of a number of research analyst reports. VNET Group reissued a “maintains” rating on shares of Micron Technology in a research report on Thursday, June 29th. Raymond James upped their price objective on shares of Micron Technology from $70.00 to $76.00 in a research report on Thursday, June 29th. KeyCorp upped their price objective on shares of Micron Technology from $70.00 to $80.00 in a research report on Thursday, June 29th. Bank of America upped their price objective on shares of Micron Technology from $68.00 to $76.00 in a research report on Thursday, June 29th. Finally, Piper Sandler raised shares of Micron Technology from an “underweight” rating to a “neutral” rating and upped their price objective for the company from $45.00 to $70.00 in a research report on Thursday, June 29th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and twenty-three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $73.43.
Insider Activity at Micron Technology
In other Micron Technology news, SVP Michael W. Bokan sold 45,456 shares of the company’s stock in a transaction on Thursday, July 27th. The shares were sold at an average price of $70.87, for a total transaction of $3,221,466.72. Following the transaction, the senior vice president now owns 150,086 shares in the company, valued at $10,636,594.82. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other Micron Technology news, SVP Michael W. Bokan sold 45,456 shares of the company’s stock in a transaction on Thursday, July 27th. The shares were sold at an average price of $70.87, for a total transaction of $3,221,466.72. Following the transaction, the senior vice president now owns 150,086 shares in the company, valued at $10,636,594.82. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Sumit Sadana sold 42,667 shares of the stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $70.05, for a total transaction of $2,988,823.35. Following the completion of the sale, the executive vice president now owns 208,987 shares of the company’s stock, valued at approximately $14,639,539.35. The disclosure for this sale can be found here. Insiders have sold 141,810 shares of company stock worth $9,855,860 in the last quarter. Company insiders own 0.32% of the company’s stock.
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 comprises DRAM products, which are dynamic random access memory semiconductor devices with low latency that provide high-speed data retrieval; NAND products that are non-volatile and re-writeable semiconductor storage devices; and NOR memory products, which are non-volatile re-writable semiconductor memory devices that provide fast read speeds under the Micron and Crucial brands, as well as through private labels.