Micron Technology, Inc. (NASDAQ:MU) Shares Sold by ANTIPODES PARTNERS Ltd

ANTIPODES PARTNERS Ltd lowered its holdings in Micron Technology, Inc. (NASDAQ:MU) by 88.2% during the second quarter, HoldingsChannel reports. The fund 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 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. Atria Investments Inc increased its holdings 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 last quarter. Aspect Partners LLC increased its holdings in shares of Micron Technology by 39.8% in the 2nd quarter. Aspect Partners LLC now owns 330 shares of the semiconductor manufacturer’s stock valued at $43,000 after acquiring an additional 94 shares during the last quarter. Revolve Wealth Partners LLC increased its holdings in shares of Micron Technology by 1.5% in the 1st quarter. Revolve Wealth Partners LLC now owns 6,582 shares of the semiconductor manufacturer’s stock valued at $776,000 after acquiring an additional 98 shares during the last quarter. Ameritas Advisory Services LLC increased its holdings in shares of Micron Technology by 1.3% in the 2nd quarter. Ameritas Advisory Services LLC now owns 7,625 shares of the semiconductor manufacturer’s stock valued at $1,003,000 after acquiring an additional 98 shares during the last quarter. Finally, LRI Investments LLC increased 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 acquiring an additional 99 shares during the last quarter. Hedge funds and other institutional investors own 80.84% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently commented on MU. Citigroup increased their price objective on Micron Technology from $150.00 to $175.00 and gave the company a “buy” rating in a report on Monday, June 24th. JPMorgan Chase & Co. upped their target price on Micron Technology from $130.00 to $180.00 and gave the company an “overweight” rating in a research report on Thursday, June 27th. Wolfe Research upped their target price on Micron Technology from $150.00 to $200.00 and gave the company an “outperform” rating in a research report on Friday, June 21st. Piper Sandler upped their target price on Micron Technology from $130.00 to $150.00 and gave the company an “overweight” rating in a research report on Thursday, June 27th. Finally, The Goldman Sachs Group upped their target price on Micron Technology from $138.00 to $158.00 and gave the company a “buy” rating in a research report on Thursday, June 27th. Two analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $157.12.

Micron Technology Stock Performance

NASDAQ MU opened at $89.39 on Friday. Micron Technology, Inc. has a 1-year low of $63.83 and a 1-year high of $157.54. The company has a market capitalization of $99.12 billion, a P/E ratio of -62.95 and a beta of 1.18. The business has a 50 day moving average price of $109.63 and a 200 day moving average price of $114.52. 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 released its quarterly earnings data on Wednesday, June 26th. The semiconductor manufacturer reported $0.62 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $6.67 billion. During the same period last year, the business posted ($1.57) EPS. Micron Technology’s quarterly revenue was up 81.5% on a year-over-year basis. Sell-side analysts expect that Micron Technology, Inc. will post 0.58 EPS for the current fiscal year.

Micron Technology Dividend Announcement

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

Insider Activity at Micron Technology

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of the firm’s stock in a transaction on Thursday, June 27th. The stock was sold at an average price of $135.86, for a total transaction of $664,355.40. Following the completion of the transaction, the executive vice president now owns 142,321 shares of the company’s stock, valued at $19,335,731.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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 owns 719,049 shares of the company’s stock, valued at $109,496,781.72. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 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 approximately $19,335,731.06. The disclosure for this sale can be found here. Insiders sold 46,174 shares of company stock valued at $6,827,113 in the last ninety days. Corporate 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 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.