Kiltearn Partners LLP Has $5.10 Million Holdings in Micron Technology, Inc. (NASDAQ:MU)

Kiltearn Partners LLP cut its holdings in Micron Technology, Inc. (NASDAQ:MU) by 10.1% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 60,576 shares of the semiconductor manufacturer’s stock after selling 6,800 shares during the quarter. Kiltearn Partners LLP’s holdings in Micron Technology were worth $5,098,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Harmony Asset Management LLC raised its position in Micron Technology by 75.6% in the 3rd quarter. Harmony Asset Management LLC now owns 11,889 shares of the semiconductor manufacturer’s stock valued at $1,233,000 after buying an additional 5,120 shares during the last quarter. E Fund Management Co. Ltd. increased its stake in shares of Micron Technology by 31.8% in the fourth quarter. E Fund Management Co. Ltd. now owns 36,378 shares of the semiconductor manufacturer’s stock worth $3,062,000 after purchasing an additional 8,780 shares in the last quarter. Stablepoint Partners LLC purchased a new position in Micron Technology in the 4th quarter valued at approximately $569,000. State Street Corp raised its stake in shares of Micron Technology by 3.1% during the 3rd quarter. State Street Corp now owns 48,226,710 shares of the semiconductor manufacturer’s stock valued at $5,001,592,000 after purchasing an additional 1,434,568 shares during the period. Finally, Main Management ETF Advisors LLC bought a new position in shares of Micron Technology in the third quarter valued at approximately $2,414,000. 80.84% of the stock is owned by institutional investors.

Micron Technology Stock Performance

Micron Technology stock opened at $91.16 on Friday. The company’s 50-day moving average price is $96.35 and its 200-day moving average price is $98.36. The company has a quick ratio of 1.75, a current ratio of 2.72 and a debt-to-equity ratio of 0.28. The company has a market cap of $101.88 billion, a PE ratio of 26.27 and a beta of 1.23. Micron Technology, Inc. has a twelve month low of $83.54 and a twelve month high of $157.54.

Micron Technology (NASDAQ:MU) last announced its earnings results on Thursday, March 20th. The semiconductor manufacturer reported $1.56 EPS for the quarter, topping analysts’ consensus estimates of $1.43 by $0.13. The firm had revenue of $8.05 billion during the quarter, compared to analysts’ expectations of $7.93 billion. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. The company’s quarterly revenue was up 38.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.42 EPS. On average, equities research analysts forecast that Micron Technology, Inc. will post 6.08 EPS for the current fiscal year.

Micron Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be issued a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a yield of 0.50%. The ex-dividend date is Monday, March 31st. Micron Technology’s payout ratio is currently 11.03%.

Insider Activity

In other news, Director Mary Pat Mccarthy sold 2,404 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $92.93, for a total transaction of $223,403.72. Following the transaction, the director now owns 27,358 shares of the company’s stock, valued at approximately $2,542,378.94. This represents a 8.08 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP April S. Arnzen sold 15,000 shares of Micron Technology stock in a transaction dated Tuesday, March 25th. The shares were sold at an average price of $96.18, for a total value of $1,442,700.00. Following the completion of the sale, the executive vice president now owns 164,769 shares of the company’s stock, valued at $15,847,482.42. The trade was a 8.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.30% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently commented on the company. The Goldman Sachs Group cut their price objective on Micron Technology from $145.00 to $128.00 and set a “buy” rating for the company in a report on Thursday, December 19th. Sanford C. Bernstein cut their target price on shares of Micron Technology from $140.00 to $120.00 and set an “outperform” rating on the stock in a report on Wednesday, December 18th. Bank of America cut shares of Micron Technology from a “buy” rating to a “neutral” rating and reduced their price target for the company from $125.00 to $110.00 in a research report on Thursday, December 19th. UBS Group lifted their price objective on Micron Technology from $125.00 to $130.00 and gave the company a “buy” rating in a research note on Monday, March 17th. Finally, Stifel Nicolaus lowered their price objective on Micron Technology from $135.00 to $130.00 and set a “buy” rating on the stock in a research report on Thursday, December 19th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Micron Technology has an average rating of “Moderate Buy” and an average price target of $129.96.

Micron Technology 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.