Kiltearn Partners LLP Sells 206,354 Shares of Micron Technology, Inc. (NASDAQ:MU)

Kiltearn Partners LLP lowered its position in shares of Micron Technology, Inc. (NASDAQ:MU) by 68.7% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 94,006 shares of the semiconductor manufacturer’s stock after selling 206,354 shares during the quarter. Micron Technology accounts for about 1.5% of Kiltearn Partners LLP’s investment portfolio, making the stock its 27th biggest holding. Kiltearn Partners LLP’s holdings in Micron Technology were worth $12,365,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. Clearbridge Investments LLC grew its position in shares of Micron Technology by 1.1% in the 1st quarter. Clearbridge Investments LLC now owns 1,931,811 shares of the semiconductor manufacturer’s stock valued at $227,741,000 after purchasing an additional 20,741 shares during the period. Chapin Davis Inc. bought a new position in Micron Technology in the second quarter valued at approximately $4,056,000. Norden Group LLC increased its position in shares of Micron Technology by 1,916.7% during the first quarter. Norden Group LLC now owns 50,134 shares of the semiconductor manufacturer’s stock worth $5,910,000 after acquiring an additional 47,648 shares in the last quarter. Gulf International Bank UK Ltd raised its holdings in shares of Micron Technology by 6.3% during the first quarter. Gulf International Bank UK Ltd now owns 99,839 shares of the semiconductor manufacturer’s stock worth $11,770,000 after acquiring an additional 5,958 shares during the period. Finally, Westwood Holdings Group Inc. bought a new stake in Micron Technology in the 1st quarter valued at $8,558,000. 80.84% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

MU has been the subject of a number of research reports. Robert W. Baird increased their target price on Micron Technology from $150.00 to $172.00 and gave the stock an “outperform” rating in a report on Monday, June 24th. Citigroup decreased their price objective on Micron Technology from $175.00 to $150.00 and set a “buy” rating for the company in a report on Tuesday, September 17th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $225.00 target price on shares of Micron Technology in a research report on Tuesday, June 25th. TD Cowen cut their price target on shares of Micron Technology from $160.00 to $115.00 and set a “buy” rating on the stock in a research report on Thursday, September 19th. Finally, KeyCorp reduced their price objective on shares of Micron Technology from $165.00 to $145.00 and set an “overweight” rating for the company in a research note on Tuesday, August 6th. One 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. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $145.65.

Micron Technology Trading Up 2.9 %

Shares of NASDAQ:MU opened at $93.57 on Tuesday. Micron Technology, Inc. has a 12-month low of $63.83 and a 12-month high of $157.54. The business has a 50 day moving average of $99.06 and a 200-day moving average of $114.79. The company has a quick ratio of 2.16, a current ratio of 3.41 and a debt-to-equity ratio of 0.29. The stock has a market cap of $103.75 billion, a PE ratio of -65.89 and a beta of 1.17.

Micron Technology (NASDAQ:MU) last released its quarterly earnings results on Wednesday, June 26th. The semiconductor manufacturer reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.14. The business had revenue of $6.81 billion during the quarter, compared to the consensus estimate of $6.67 billion. Micron Technology had a negative return on equity of 4.01% and a negative net margin of 7.20%. The firm’s quarterly revenue was up 81.5% on a year-over-year basis. During the same period in the previous year, the company posted ($1.57) EPS. As a group, equities research analysts forecast that Micron Technology, Inc. will post 0.61 earnings per share for the current year.

Micron Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 23rd. Shareholders of record on Monday, July 8th were paid a $0.115 dividend. This represents a $0.46 annualized dividend and a yield of 0.49%. The ex-dividend date of this dividend was Monday, July 8th. Micron Technology’s dividend payout ratio (DPR) is -32.39%.

Insider Buying and Selling at Micron Technology

In related news, EVP April S. Arnzen sold 4,890 shares of the stock in a transaction that occurred 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 sale, the executive vice president now owns 142,321 shares of the company’s stock, valued at $19,335,731.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.32% of the company’s stock.

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.