WINTON GROUP Ltd Decreases Stock Position in Micron Technology, Inc. $MU

WINTON GROUP Ltd trimmed its holdings in shares of Micron Technology, Inc. (NASDAQ:MUFree Report) by 16.5% during the 4th quarter, Holdings Channel reports. The institutional investor owned 43,340 shares of the semiconductor manufacturer’s stock after selling 8,585 shares during the quarter. WINTON GROUP Ltd’s holdings in Micron Technology were worth $12,370,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the business. EULAV Asset Management raised its position in shares of Micron Technology by 6.0% during the 4th quarter. EULAV Asset Management now owns 53,011 shares of the semiconductor manufacturer’s stock valued at $15,130,000 after buying an additional 3,011 shares in the last quarter. Parallel Advisors LLC raised its position in shares of Micron Technology by 7.4% during the 4th quarter. Parallel Advisors LLC now owns 14,889 shares of the semiconductor manufacturer’s stock valued at $4,250,000 after buying an additional 1,030 shares in the last quarter. Explore Capital Management LLC purchased a new stake in shares of Micron Technology during the 4th quarter valued at about $9,304,000. Total Wealth Planning & Management Inc. purchased a new stake in shares of Micron Technology during the 4th quarter valued at about $2,789,000. Finally, Livforsakringsbolaget Skandia Omsesidigt raised its position in shares of Micron Technology by 403.1% during the 4th quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 40,992 shares of the semiconductor manufacturer’s stock valued at $11,698,000 after buying an additional 32,844 shares in the last quarter. 80.84% of the stock is currently owned by hedge funds and other institutional investors.

Micron Technology Stock Performance

Shares of NASDAQ:MU opened at $864.01 on Friday. The company has a market capitalization of $974.37 billion, a price-to-earnings ratio of 40.79 and a beta of 2.16. Micron Technology, Inc. has a 12 month low of $103.38 and a 12 month high of $1,089.29. The firm’s 50-day moving average is $617.28 and its 200 day moving average is $437.99. The company has a current ratio of 2.90, a quick ratio of 2.32 and a debt-to-equity ratio of 0.13.

Micron Technology (NASDAQ:MUGet Free Report) last issued its quarterly earnings results on Wednesday, March 18th. The semiconductor manufacturer reported $12.20 EPS for the quarter, beating the consensus estimate of $9.19 by $3.01. The company had revenue of $23.86 billion for the quarter, compared to the consensus estimate of $19.97 billion. Micron Technology had a net margin of 41.49% and a return on equity of 41.16%. The firm’s revenue was up 196 compared to the same quarter last year. During the same period in the prior year, the firm posted $1.56 EPS. Research analysts predict that Micron Technology, Inc. will post 58.79 EPS for the current year.

Micron Technology Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 15th. Investors of record on Monday, March 30th were issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 0.1%. The ex-dividend date was Monday, March 30th. This is a positive change from Micron Technology’s previous quarterly dividend of $0.12. Micron Technology’s payout ratio is currently 2.83%.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on MU shares. Needham & Company LLC upped their target price on shares of Micron Technology from $450.00 to $500.00 and gave the company a “buy” rating in a research report on Thursday, March 19th. Sanford C. Bernstein upped their target price on shares of Micron Technology from $330.00 to $510.00 and gave the company an “outperform” rating in a research report on Wednesday, March 18th. UBS Group upped their target price on shares of Micron Technology from $535.00 to $1,625.00 and gave the company a “buy” rating in a research report on Tuesday, May 26th. Raymond James Financial upped their target price on shares of Micron Technology from $530.00 to $1,100.00 and gave the company an “outperform” rating in a research report on Monday, June 1st. Finally, Summit Insights downgraded shares of Micron Technology from a “buy” rating to a “hold” rating in a report on Thursday, March 19th. Five equities research analysts have rated the stock with a Strong Buy rating, thirty have issued a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $641.97.

Check Out Our Latest Stock Analysis on Micron Technology

Trending Headlines about Micron Technology

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Insider Activity

In other Micron Technology news, EVP April S. Arnzen sold 40,000 shares of the company’s stock in a transaction dated Wednesday, April 1st. The shares were sold at an average price of $347.39, for a total value of $13,895,600.00. Following the transaction, the executive vice president directly owned 125,737 shares in the company, valued at $43,679,776.43. This represents a 24.13% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Steven J. Gomo sold 2,000 shares of the company’s stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $787.03, for a total transaction of $1,574,060.00. Following the completion of the transaction, the director owned 17,139 shares in the company, valued at $13,488,907.17. This represents a 10.45% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 146,000 shares of company stock valued at $85,486,715. 0.24% of the stock is currently owned by company insiders.

About Micron Technology

(Free Report)

Micron Technology, Inc is a global semiconductor company that designs and manufactures memory and storage solutions. Its product portfolio includes dynamic random-access memory (DRAM), NAND flash memory, solid-state drives (SSDs), memory modules and embedded memory solutions for a wide range of computing and electronic devices. Micron supplies components used in data centers, enterprise and cloud infrastructure, client computing, mobile devices, automotive systems and industrial applications, and also markets consumer-facing products under the Crucial brand.

Founded in 1978 and headquartered in Boise, Idaho, Micron has grown into an international manufacturer with research, development and production facilities across multiple regions.

Further Reading

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Institutional Ownership by Quarter for Micron Technology (NASDAQ:MU)

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