Quilter Plc Sells 3,137 Shares of Micron Technology, Inc. (NASDAQ:MU)

Quilter Plc reduced its holdings in shares of Micron Technology, Inc. (NASDAQ:MU) by 1.8% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 173,119 shares of the semiconductor manufacturer’s stock after selling 3,137 shares during the period. Quilter Plc’s holdings in Micron Technology were worth $15,042,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. E Fund Management Co. Ltd. lifted its position in shares of Micron Technology by 31.8% during the 4th quarter. E Fund Management Co. Ltd. now owns 36,378 shares of the semiconductor manufacturer’s stock valued at $3,062,000 after buying an additional 8,780 shares in the last quarter. CIBC Private Wealth Group LLC raised its stake in Micron Technology by 43.0% during the 4th quarter. CIBC Private Wealth Group LLC now owns 14,178 shares of the semiconductor manufacturer’s stock worth $1,193,000 after acquiring an additional 4,264 shares during the period. Landscape Capital Management L.L.C. lifted its holdings in Micron Technology by 167.0% during the fourth quarter. Landscape Capital Management L.L.C. now owns 45,758 shares of the semiconductor manufacturer’s stock valued at $3,851,000 after purchasing an additional 28,621 shares in the last quarter. Duquesne Family Office LLC purchased a new position in Micron Technology during the fourth quarter valued at approximately $34,412,000. Finally, Janus Henderson Group PLC boosted its position in shares of Micron Technology by 74.6% in the fourth quarter. Janus Henderson Group PLC now owns 2,646,936 shares of the semiconductor manufacturer’s stock worth $222,779,000 after purchasing an additional 1,130,680 shares during the period. 80.84% of the stock is currently owned by institutional investors.

Micron Technology Trading Down 1.0%

NASDAQ MU opened at $126.00 on Friday. The stock has a market cap of $140.81 billion, a PE ratio of 22.70 and a beta of 1.28. Micron Technology, Inc. has a 12 month low of $61.54 and a 12 month high of $137.39. The company’s 50-day moving average price is $97.59 and its 200-day moving average price is $94.05. The company has a current ratio of 3.13, a quick ratio of 1.99 and a debt-to-equity ratio of 0.28.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings data on Wednesday, June 25th. The semiconductor manufacturer reported $1.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.57 by $0.34. The company had revenue of $9.30 billion for the quarter, compared to analysts’ expectations of $8.83 billion. Micron Technology had a return on equity of 13.88% and a net margin of 18.41%. During the same quarter in the prior year, the firm earned $0.62 earnings per share. Equities research analysts forecast that Micron Technology, Inc. will post 6.08 earnings per share for the current year.

Micron Technology Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 22nd. Shareholders of record on Monday, July 7th will be paid a $0.115 dividend. The ex-dividend date of this dividend is Monday, July 7th. This represents a $0.46 annualized dividend and a yield of 0.37%. Micron Technology’s dividend payout ratio (DPR) is presently 11.03%.

Insiders Place Their Bets

In related news, EVP April S. Arnzen sold 15,000 shares of the company’s stock in a transaction dated Tuesday, June 24th. The stock was sold at an average price of $125.12, for a total transaction of $1,876,800.00. Following the transaction, the executive vice president now directly owns 148,167 shares of the company’s stock, valued at $18,538,655.04. This represents a 9.19% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Mary Pat Mccarthy sold 2,404 shares of the stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $80.00, for a total value of $192,320.00. Following the completion of the sale, the director now owns 24,954 shares of the company’s stock, valued at approximately $1,996,320. This trade represents a 8.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 72,404 shares of company stock worth $8,509,167. 0.30% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on MU shares. Morgan Stanley boosted their price objective on Micron Technology from $98.00 to $135.00 and gave the company an “equal weight” rating in a research report on Thursday. Rosenblatt Securities lifted their target price on Micron Technology from $172.00 to $200.00 and gave the company a “buy” rating in a research note on Monday. TD Cowen upped their price target on Micron Technology from $125.00 to $150.00 and gave the stock a “buy” rating in a research note on Thursday. KeyCorp lifted their price objective on shares of Micron Technology from $135.00 to $160.00 and gave the company an “overweight” rating in a research report on Thursday. Finally, Wall Street Zen raised shares of Micron Technology from a “hold” rating to a “buy” rating in a report on Saturday, June 14th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $144.67.

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.