Micron Technology, Inc. (NASDAQ:MU) Position Cut by Kesler Norman & Wride LLC

Kesler Norman & Wride LLC lowered its holdings in shares of Micron Technology, Inc. (NASDAQ:MU) by 57.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,231 shares of the semiconductor manufacturer’s stock after selling 4,431 shares during the period. Kesler Norman & Wride LLC’s holdings in Micron Technology were worth $272,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in MU. E Fund Management Co. Ltd. increased its stake in shares of Micron Technology by 31.8% during the fourth quarter. E Fund Management Co. Ltd. now owns 36,378 shares of the semiconductor manufacturer’s stock valued at $3,062,000 after acquiring an additional 8,780 shares during the period. Stablepoint Partners LLC acquired a new position in shares of Micron Technology during the 4th quarter valued at $569,000. State Street Corp raised its stake in shares of Micron Technology by 3.1% in the 3rd quarter. State Street Corp now owns 48,226,710 shares of the semiconductor manufacturer’s stock worth $5,001,592,000 after buying an additional 1,434,568 shares in the last quarter. Main Management ETF Advisors LLC acquired a new stake in shares of Micron Technology in the third quarter valued at $2,414,000. Finally, Fort Washington Investment Advisors Inc. OH boosted its stake in Micron Technology by 11.7% during the fourth quarter. Fort Washington Investment Advisors Inc. OH now owns 502,374 shares of the semiconductor manufacturer’s stock valued at $42,280,000 after buying an additional 52,729 shares in the last quarter. Institutional investors and hedge funds own 80.84% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on MU. Bank of America lowered Micron Technology from a “buy” rating to a “neutral” rating and cut their target price for the stock from $125.00 to $110.00 in a research report on Thursday, December 19th. Needham & Company LLC lowered their price target on Micron Technology from $140.00 to $120.00 and set a “buy” rating for the company in a research note on Thursday, December 19th. Piper Sandler cut their price objective on shares of Micron Technology from $150.00 to $120.00 and set an “overweight” rating on the stock in a research report on Thursday, December 19th. Robert W. Baird boosted their target price on shares of Micron Technology from $130.00 to $163.00 and gave the stock an “outperform” rating in a research report on Friday, March 21st. Finally, JPMorgan Chase & Co. cut their price target on shares of Micron Technology from $145.00 to $135.00 and set an “overweight” rating on the stock in a report on Friday, March 21st. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Micron Technology currently has an average rating of “Moderate Buy” and a consensus price target of $129.76.

Micron Technology Trading Down 0.1 %

Shares of MU opened at $88.60 on Thursday. The stock’s 50-day moving average price is $94.80 and its 200 day moving average price is $98.42. 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 firm has a market capitalization of $99.02 billion, a price-to-earnings ratio of 25.53 and a beta of 1.23. Micron Technology, Inc. has a 12-month low of $82.42 and a 12-month high of $157.54.

Micron Technology (NASDAQ:MU) last issued its earnings results on Thursday, March 20th. The semiconductor manufacturer reported $1.56 EPS for the quarter, beating analysts’ consensus estimates of $1.43 by $0.13. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. The business had revenue of $8.05 billion during the quarter, compared to analyst estimates of $7.93 billion. During the same period in the prior year, the company posted $0.42 earnings per share. Micron Technology’s revenue was up 38.2% on a year-over-year basis. As a group, research analysts predict that Micron Technology, Inc. will post 6.08 earnings per share for the current year.

Micron Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be paid a $0.115 dividend. The ex-dividend date is Monday, March 31st. This represents a $0.46 dividend on an annualized basis and a yield of 0.52%. Micron Technology’s payout ratio is currently 11.03%.

Insider Buying and Selling

In other news, Director Mary Pat Mccarthy sold 2,404 shares of the company’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $92.93, for a total value of $223,403.72. Following the sale, 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 document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP April S. Arnzen sold 15,000 shares of the stock in a transaction dated Tuesday, March 25th. The stock was sold at an average price of $96.18, for a total transaction of $1,442,700.00. Following the sale, the executive vice president now owns 164,769 shares of the company’s stock, valued at $15,847,482.42. This trade represents a 8.34 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.30% 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.