Shapiro Capital Management LLC Has $97.19 Million Holdings in Micron Technology, Inc. (NASDAQ:MU)

Shapiro Capital Management LLC trimmed its holdings in Micron Technology, Inc. (NASDAQ:MU) by 43.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 738,931 shares of the semiconductor manufacturer’s stock after selling 556,795 shares during the period. Micron Technology comprises about 2.9% of Shapiro Capital Management LLC’s investment portfolio, making the stock its 17th largest holding. Shapiro Capital Management LLC owned about 0.07% of Micron Technology worth $97,192,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of MU. Vanguard Group Inc. raised its stake in shares of Micron Technology by 1.8% in the 1st quarter. Vanguard Group Inc. now owns 96,666,590 shares of the semiconductor manufacturer’s stock valued at $11,396,024,000 after purchasing an additional 1,681,815 shares during the period. Capital World Investors boosted its position in Micron Technology by 6.6% during the 1st quarter. Capital World Investors now owns 22,748,381 shares of the semiconductor manufacturer’s stock worth $2,681,807,000 after acquiring an additional 1,400,154 shares during the last quarter. Sanders Capital LLC grew its stake in shares of Micron Technology by 2.3% during the 4th quarter. Sanders Capital LLC now owns 22,583,348 shares of the semiconductor manufacturer’s stock worth $1,927,263,000 after acquiring an additional 503,923 shares in the last quarter. Capital International Investors raised its holdings in shares of Micron Technology by 15.1% in the first quarter. Capital International Investors now owns 18,303,506 shares of the semiconductor manufacturer’s stock valued at $2,157,800,000 after purchasing an additional 2,397,885 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD raised its holdings in shares of Micron Technology by 22.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 18,243,633 shares of the semiconductor manufacturer’s stock valued at $2,150,743,000 after purchasing an additional 3,315,988 shares during the last quarter. 80.84% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Piper Sandler raised their target price on shares of Micron Technology from $130.00 to $150.00 and gave the company an “overweight” rating in a research report on Thursday, June 27th. Wells Fargo & Company decreased their price objective on Micron Technology from $190.00 to $175.00 and set an “overweight” rating for the company in a report on Wednesday, September 18th. Mizuho upped their target price on Micron Technology from $150.00 to $155.00 and gave the stock a “buy” rating in a report on Friday, May 31st. Needham & Company LLC decreased their price target on Micron Technology from $150.00 to $140.00 and set a “buy” rating for the company in a research note on Monday, August 26th. Finally, Morgan Stanley dropped their price objective on Micron Technology from $140.00 to $100.00 and set an “equal weight” rating on the stock in a research note on Monday, September 16th. One analyst has rated the stock with a sell rating, two have given a hold rating and twenty-five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $145.65.

Micron Technology Stock Up 2.9 %

MU stock opened at $93.57 on Tuesday. Micron Technology, Inc. has a fifty-two week low of $63.83 and a fifty-two week high of $157.54. The company has a debt-to-equity ratio of 0.29, a current ratio of 3.41 and a quick ratio of 2.16. The stock has a market capitalization of $103.75 billion, a price-to-earnings ratio of -65.89 and a beta of 1.17. The business’s fifty day moving average price is $99.06 and its two-hundred day moving average price is $114.79.

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

Micron Technology Announces Dividend

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

Insider Activity at Micron Technology

In other news, EVP April S. Arnzen sold 4,890 shares of the 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 sale, the executive vice president now directly owns 142,321 shares of the company’s stock, valued at approximately $19,335,731.06. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.32% of the stock is currently owned by corporate insiders.

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.