Kercheville Advisors LLC Cuts Position in Micron Technology, Inc. (NASDAQ:MU)

Kercheville Advisors LLC reduced its stake in shares of Micron Technology, Inc. (NASDAQ:MU) by 2.3% in the third quarter, HoldingsChannel reports. The firm owned 34,475 shares of the semiconductor manufacturer’s stock after selling 800 shares during the period. Micron Technology makes up approximately 1.5% of Kercheville Advisors LLC’s investment portfolio, making the stock its 21st largest position. Kercheville Advisors LLC’s holdings in Micron Technology were worth $3,575,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in MU. Clearbridge Investments LLC increased its position in shares of Micron Technology by 1.1% during the first quarter. Clearbridge Investments LLC now owns 1,931,811 shares of the semiconductor manufacturer’s stock worth $227,741,000 after purchasing an additional 20,741 shares in the last quarter. Global X Japan Co. Ltd. increased its stake in Micron Technology by 23.1% during the 3rd quarter. Global X Japan Co. Ltd. now owns 51,832 shares of the semiconductor manufacturer’s stock valued at $5,375,000 after purchasing an additional 9,735 shares in the last quarter. Chapin Davis Inc. purchased a new stake in shares of Micron Technology during the second quarter valued at $4,056,000. Handelsbanken Fonder AB grew its stake in Micron Technology by 2.4% during the 3rd quarter. Handelsbanken Fonder AB now owns 434,596 shares of the semiconductor manufacturer’s stock valued at $45,072,000 after purchasing an additional 9,992 shares during the last quarter. Finally, Kempner Capital Management Inc. raised its stake in shares of Micron Technology by 16.8% in the third quarter. Kempner Capital Management Inc. now owns 94,192 shares of the semiconductor manufacturer’s stock worth $9,769,000 after purchasing an additional 13,581 shares during the last quarter. Institutional investors own 80.84% of the company’s stock.

Insider Transactions at Micron Technology

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of Micron Technology stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $113.00, for a total value of $552,570.00. Following the completion of the transaction, the executive vice president now directly owns 135,830 shares of the company’s stock, valued at $15,348,790. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.32% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Cantor Fitzgerald reiterated an “overweight” rating and issued a $150.00 price target on shares of Micron Technology in a report on Tuesday, October 1st. UBS Group reduced their target price on shares of Micron Technology from $153.00 to $135.00 and set a “buy” rating for the company in a report on Tuesday, September 17th. Morgan Stanley upped their price target on shares of Micron Technology from $100.00 to $114.00 and gave the company an “equal weight” rating in a report on Thursday, September 26th. Citigroup reduced their price objective on Micron Technology from $175.00 to $150.00 and set a “buy” rating for the company in a research note on Tuesday, September 17th. Finally, Stifel Nicolaus dropped their target price on Micron Technology from $165.00 to $135.00 and set a “buy” rating on the stock in a report on Thursday, September 19th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-five have issued a buy rating to the company’s stock. According to data from MarketBeat, Micron Technology has a consensus rating of “Moderate Buy” and an average price target of $142.85.

Micron Technology Price Performance

NASDAQ:MU opened at $107.91 on Monday. Micron Technology, Inc. has a 52 week low of $63.88 and a 52 week high of $157.54. The stock’s fifty day moving average is $99.22 and its two-hundred day moving average is $113.83. The company has a market capitalization of $119.66 billion, a P/E ratio of -75.99 and a beta of 1.18. 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 posted its earnings results on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 EPS for the quarter, beating analysts’ consensus estimates of $0.97 by $0.21. Micron Technology had a net margin of 3.10% and a return on equity of 1.58%. The company had revenue of $7.75 billion for the quarter, compared to analysts’ expectations of $7.65 billion. During the same quarter in the prior year, the company posted ($1.21) earnings per share. Micron Technology’s revenue for the quarter was up 93.3% compared to the same quarter last year. Equities analysts expect that Micron Technology, Inc. will post 8.31 EPS for the current year.

Micron Technology Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 23rd. Shareholders of record on Monday, October 7th were paid a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a yield of 0.43%. The ex-dividend date was Monday, October 7th. Micron Technology’s dividend payout ratio (DPR) is -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.