Knowledge Leaders Capital LLC Decreases Stake in Micron Technology, Inc. (NASDAQ:MU)

Knowledge Leaders Capital LLC cut its holdings in Micron Technology, Inc. (NASDAQ:MU) by 3.8% during the fourth quarter, Holdings Channel reports. The institutional investor owned 12,431 shares of the semiconductor manufacturer’s stock after selling 485 shares during the quarter. Knowledge Leaders Capital LLC’s holdings in Micron Technology were worth $1,061,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of the business. Exchange Traded Concepts LLC boosted its position in Micron Technology by 411.2% during the third quarter. Exchange Traded Concepts LLC now owns 4,657 shares of the semiconductor manufacturer’s stock worth $317,000 after purchasing an additional 3,746 shares in the last quarter. Proficio Capital Partners LLC acquired a new position in shares of Micron Technology in the third quarter worth $220,000. CX Institutional raised its holdings in shares of Micron Technology by 4.4% in the third quarter. CX Institutional now owns 6,370 shares of the semiconductor manufacturer’s stock worth $433,000 after acquiring an additional 271 shares during the last quarter. SS&H Financial Advisors Inc. acquired a new position in shares of Micron Technology in the third quarter worth $1,423,000. Finally, Czech National Bank raised its holdings in shares of Micron Technology by 47.7% in the third quarter. Czech National Bank now owns 191,408 shares of the semiconductor manufacturer’s stock worth $13,021,000 after acquiring an additional 61,854 shares during the last quarter. 80.84% of the stock is currently owned by hedge funds and other institutional investors.

Micron Technology Price Performance

MU traded up $3.26 on Friday, reaching $114.84. The company’s stock had a trading volume of 20,612,299 shares, compared to its average volume of 24,401,036. Micron Technology, Inc. has a 1 year low of $59.55 and a 1 year high of $130.54. The company has a current ratio of 3.74, a quick ratio of 2.40 and a debt-to-equity ratio of 0.30. The business’s 50 day moving average is $105.94 and its 200 day moving average is $88.17.

Micron Technology (NASDAQ:MU) last issued its quarterly earnings results on Wednesday, March 20th. The semiconductor manufacturer reported $0.42 EPS for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.69. The firm had revenue of $5.82 billion during the quarter, compared to the consensus estimate of $5.35 billion. Micron Technology had a negative return on equity of 8.98% and a negative net margin of 20.57%. Micron Technology’s revenue for the quarter was up 57.7% on a year-over-year basis. During the same quarter in the prior year, the business posted ($2.03) earnings per share. Research analysts anticipate that Micron Technology, Inc. will post 0.24 EPS for the current fiscal year.

Micron Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 16th. Investors of record on Monday, April 1st were issued a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a yield of 0.40%. The ex-dividend date was Thursday, March 28th. Micron Technology’s dividend payout ratio is currently -13.33%.

Insider Activity at Micron Technology

In other Micron Technology news, CEO Sanjay Mehrotra sold 7,000 shares of the stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $87.02, for a total transaction of $609,140.00. Following the transaction, the chief executive officer now owns 788,557 shares of the company’s stock, valued at approximately $68,620,230.14. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other Micron Technology news, CEO Sanjay Mehrotra sold 7,000 shares of the stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $87.02, for a total transaction of $609,140.00. Following the transaction, the chief executive officer now owns 788,557 shares of the company’s stock, valued at approximately $68,620,230.14. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP April S. Arnzen sold 4,890 shares of the stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $119.30, for a total value of $583,377.00. Following the transaction, the executive vice president now directly owns 148,817 shares in the company, valued at approximately $17,753,868.10. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 268,890 shares of company stock valued at $29,738,667. Insiders own 0.32% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on MU shares. Citigroup reissued a “buy” rating and issued a $150.00 price target on shares of Micron Technology in a report on Thursday, April 4th. Barclays upped their target price on Micron Technology from $95.00 to $120.00 and gave the company an “overweight” rating in a research note on Monday, March 18th. Robert W. Baird upped their target price on Micron Technology from $78.00 to $115.00 and gave the company a “neutral” rating in a research note on Tuesday, March 19th. Bank of America upped their target price on Micron Technology from $120.00 to $144.00 and gave the company a “buy” rating in a research note on Monday, April 1st. Finally, Piper Sandler upped their target price on Micron Technology from $95.00 to $130.00 and gave the company an “overweight” rating in a research note on Thursday, March 21st. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-four have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $122.20.

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.