Micron Technology, Inc. (NASDAQ:MU) Shares Sold by Artemis Investment Management LLP

Artemis Investment Management LLP lessened its stake in Micron Technology, Inc. (NASDAQ:MU) by 32.4% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 232,977 shares of the semiconductor manufacturer’s stock after selling 111,837 shares during the period. Artemis Investment Management LLP’s holdings in Micron Technology were worth $24,162,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in Micron Technology by 1.8% during the first quarter. Vanguard Group Inc. now owns 96,666,590 shares of the semiconductor manufacturer’s stock worth $11,396,024,000 after purchasing an additional 1,681,815 shares during the period. Capital World Investors increased its stake 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 buying an additional 1,400,154 shares during the period. Capital International Investors lifted its holdings in Micron Technology by 15.1% during the 1st quarter. Capital International Investors now owns 18,303,506 shares of the semiconductor manufacturer’s stock worth $2,157,800,000 after buying an additional 2,397,885 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in Micron Technology by 22.2% in the 1st 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 buying an additional 3,315,988 shares during the period. Finally, Van ECK Associates Corp boosted its position in Micron Technology by 6.9% in the 2nd quarter. Van ECK Associates Corp now owns 8,086,213 shares of the semiconductor manufacturer’s stock valued at $1,063,580,000 after buying an additional 519,641 shares during the period. Hedge funds and other institutional investors own 80.84% of the company’s stock.

Micron Technology Price Performance

MU stock opened at $102.54 on Wednesday. The firm has a 50 day moving average of $96.56 and a 200-day moving average of $115.19. The company has a market cap of $113.70 billion, a price-to-earnings ratio of -72.21, a PEG ratio of 0.20 and a beta of 1.18. The company has a current ratio of 3.41, a quick ratio of 2.16 and a debt-to-equity ratio of 0.29. Micron Technology, Inc. has a 12-month low of $63.88 and a 12-month high of $157.54.

Micron Technology (NASDAQ:MU) last released its quarterly earnings results on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.97 by $0.21. The business had revenue of $7.75 billion during the quarter, compared to the consensus estimate of $7.65 billion. Micron Technology had a negative return on equity of 4.01% and a negative net margin of 7.20%. The business’s revenue was up 93.3% on a year-over-year basis. During the same quarter in the previous year, the company posted ($1.21) EPS. As a group, equities analysts expect that Micron Technology, Inc. will post 0.61 EPS for the current fiscal year.

Micron Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 23rd. Investors of record on Monday, October 7th will be given a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a yield of 0.45%. The ex-dividend date of this dividend is Monday, October 7th. Micron Technology’s dividend payout ratio is presently -32.39%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Robert W. Baird decreased their price objective on Micron Technology from $172.00 to $150.00 and set an “outperform” rating for the company in a research note on Friday, September 27th. Cantor Fitzgerald reiterated an “overweight” rating and set a $150.00 price target on shares of Micron Technology in a report on Tuesday, October 1st. Piper Sandler increased their price objective 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. TD Cowen lifted their price objective on shares of Micron Technology from $115.00 to $135.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. Finally, The Goldman Sachs Group increased their target price on Micron Technology from $138.00 to $158.00 and gave the company a “buy” rating in a report on Thursday, June 27th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-five have given a buy rating to the company’s stock. According to MarketBeat.com, Micron Technology currently has an average rating of “Moderate Buy” and an average price target of $142.85.

Insider Activity at Micron Technology

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of Micron Technology stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $113.00, for a total value of $552,570.00. Following the completion of the sale, the executive vice president now directly owns 135,830 shares of the company’s stock, valued at approximately $15,348,790. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.32% of the stock is currently owned by corporate insiders.

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.