Kathmere Capital Management LLC Decreases Stock Position in Micron Technology, Inc. (NASDAQ:MU)

Kathmere Capital Management LLC trimmed its holdings in shares of Micron Technology, Inc. (NASDAQ:MU) by 22.0% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 2,133 shares of the semiconductor manufacturer’s stock after selling 601 shares during the period. Kathmere Capital Management LLC’s holdings in Micron Technology were worth $251,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in MU. TCW Group Inc. lifted its holdings in shares of Micron Technology by 5.7% during the 4th quarter. TCW Group Inc. now owns 531,637 shares of the semiconductor manufacturer’s stock valued at $45,383,000 after buying an additional 28,649 shares during the period. Gulf International Bank UK Ltd raised its holdings in 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 valued at $11,770,000 after acquiring an additional 5,958 shares during the period. Savoie Capital LLC purchased a new position in shares of Micron Technology during the third quarter valued at about $4,229,000. TrinityPoint Wealth LLC grew its position in shares of Micron Technology by 33.9% during the fourth quarter. TrinityPoint Wealth LLC now owns 34,540 shares of the semiconductor manufacturer’s stock valued at $2,948,000 after purchasing an additional 8,736 shares in the last quarter. Finally, Kingswood Wealth Advisors LLC grew its position in shares of Micron Technology by 176.9% during the fourth quarter. Kingswood Wealth Advisors LLC now owns 15,802 shares of the semiconductor manufacturer’s stock valued at $1,349,000 after purchasing an additional 10,096 shares in the last quarter. 80.84% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

MU has been the subject of several recent analyst reports. Robert W. Baird boosted their target price on Micron Technology from $150.00 to $172.00 and gave the company an “outperform” rating in a research report on Monday, June 24th. Morgan Stanley lifted their price target on shares of Micron Technology from $130.00 to $140.00 and gave the company an “equal weight” rating in a research note on Monday, June 24th. Mizuho lifted their price target on shares of Micron Technology from $150.00 to $155.00 and gave the company a “buy” rating in a research note on Friday, May 31st. Rosenblatt Securities reaffirmed a “buy” rating and set a $225.00 price target on shares of Micron Technology in a research note on Tuesday. Finally, The Goldman Sachs Group boosted their price objective on shares of Micron Technology from $138.00 to $158.00 and gave the stock a “buy” rating in a research note on Thursday. Two analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $158.52.

Insider Activity

In other news, EVP Sumit Sadana sold 13,239 shares of the stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $118.77, for a total value of $1,572,396.03. Following the completion of the sale, the executive vice president now owns 260,857 shares of the company’s stock, valued at approximately $30,981,985.89. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, CEO Sanjay Mehrotra sold 7,000 shares of the stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $122.09, for a total transaction of $854,630.00. Following the completion of the transaction, the chief executive officer now owns 743,557 shares of the company’s stock, valued at approximately $90,780,874.13. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Sumit Sadana sold 13,239 shares of the stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $118.77, for a total transaction of $1,572,396.03. Following the transaction, the executive vice president now directly owns 260,857 shares of the company’s stock, valued at approximately $30,981,985.89. The disclosure for this sale can be found here. Insiders sold a total of 304,840 shares of company stock valued at $37,961,924 in the last 90 days. Company insiders own 0.32% of the company’s stock.

Micron Technology Stock Down 0.5 %

MU opened at $131.53 on Friday. Micron Technology, Inc. has a twelve month low of $60.50 and a twelve month high of $157.54. The company has a quick ratio of 2.40, a current ratio of 3.41 and a debt-to-equity ratio of 0.29. The company has a 50-day moving average price of $128.07 and a 200 day moving average price of $106.08. The company has a market cap of $145.65 billion, a PE ratio of -92.63 and a beta of 1.21.

Micron Technology (NASDAQ:MU) last released its quarterly earnings data on Wednesday, June 26th. The semiconductor manufacturer reported $0.43 EPS for the quarter, beating analysts’ consensus estimates of $0.38 by $0.05. The company had revenue of $6.81 billion during the quarter, compared to the consensus estimate of $6.67 billion. Micron Technology had a negative net margin of 7.20% and a negative return on equity of 4.01%. Micron Technology’s quarterly revenue was up 81.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($1.57) EPS. Sell-side analysts expect that Micron Technology, Inc. will post 0.36 earnings per share for the current fiscal year.

Micron Technology Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 23rd. Stockholders of record on Monday, July 8th will be paid a $0.115 dividend. The ex-dividend date of this dividend is Monday, July 8th. This represents a $0.46 annualized dividend and a dividend yield of 0.35%. Micron Technology’s dividend payout ratio (DPR) is -32.39%.

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.