ANTIPODES PARTNERS Ltd Takes $32.46 Million Position in Micron Technology, Inc. (NASDAQ:MU)

ANTIPODES PARTNERS Ltd acquired a new stake in Micron Technology, Inc. (NASDAQ:MU - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 373,485 shares of the semiconductor manufacturer's stock, valued at approximately $32,455,000.

Other institutional investors have also modified their holdings of the company. Sunbeam Capital Management LLC acquired a new stake in Micron Technology during the fourth quarter worth approximately $26,000. Opal Wealth Advisors LLC purchased a new position in shares of Micron Technology in the 1st quarter valued at $33,000. AllSquare Wealth Management LLC grew its position in shares of Micron Technology by 100.0% in the 1st quarter. AllSquare Wealth Management LLC now owns 400 shares of the semiconductor manufacturer's stock valued at $35,000 after buying an additional 200 shares during the last quarter. Hurley Capital LLC acquired a new stake in Micron Technology during the 4th quarter worth $37,000. Finally, Roxbury Financial LLC lifted its position in Micron Technology by 306.1% in the first quarter. Roxbury Financial LLC now owns 398 shares of the semiconductor manufacturer's stock valued at $37,000 after acquiring an additional 300 shares during the last quarter. 80.84% of the stock is owned by hedge funds and other institutional investors.

Micron Technology Stock Up 1.7%

Shares of NASDAQ MU traded up $1.90 during midday trading on Thursday, reaching $111.73. 20,223,773 shares of the company's stock were exchanged, compared to its average volume of 24,822,728. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.89 and a current ratio of 2.75. Micron Technology, Inc. has a 52-week low of $61.54 and a 52-week high of $129.85. The business's fifty day moving average price is $112.68 and its two-hundred day moving average price is $97.50. The stock has a market capitalization of $125.04 billion, a PE ratio of 20.13 and a beta of 1.35.

Micron Technology (NASDAQ:MU - Get Free Report) last released its quarterly earnings results on Wednesday, June 25th. The semiconductor manufacturer reported $1.91 earnings per share for the quarter, topping analysts' consensus estimates of $1.57 by $0.34. The business had revenue of $9.30 billion during the quarter, compared to the consensus estimate of $8.83 billion. Micron Technology had a net margin of 18.41% and a return on equity of 13.60%. During the same quarter last year, the company earned $0.62 earnings per share. Analysts forecast that Micron Technology, Inc. will post 6.08 EPS for the current year.

Micron Technology Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 22nd. Investors of record on Monday, July 7th were given a dividend of $0.115 per share. This represents a $0.46 annualized dividend and a dividend yield of 0.41%. The ex-dividend date of this dividend was Monday, July 7th. Micron Technology's dividend payout ratio is currently 8.29%.

Analyst Ratings Changes

Several brokerages have issued reports on MU. The Goldman Sachs Group assumed coverage on shares of Micron Technology in a research report on Thursday, July 10th. They set a "neutral" rating and a $130.00 price objective on the stock. Wedbush raised their price target on Micron Technology from $150.00 to $165.00 and gave the stock an "outperform" rating in a report on Thursday, June 26th. Deutsche Bank Aktiengesellschaft initiated coverage on Micron Technology in a research report on Thursday, July 10th. They issued a "buy" rating and a $150.00 price target on the stock. Wells Fargo & Company increased their price objective on Micron Technology from $150.00 to $170.00 and gave the stock an "overweight" rating in a research report on Thursday, June 26th. Finally, Stifel Nicolaus boosted their target price on Micron Technology from $130.00 to $145.00 and gave the company a "buy" rating in a report on Thursday, June 26th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, twenty have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $146.44.

Insider Activity

In related news, EVP April S. Arnzen sold 15,000 shares of the business's stock in a transaction dated Tuesday, June 24th. The shares were sold at an average price of $125.12, for a total transaction of $1,876,800.00. Following the completion of the sale, the executive vice president owned 148,167 shares of the company's stock, valued at $18,538,655.04. This represents a 9.19% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Mark J. Murphy sold 34,000 shares of the company's stock in a transaction that occurred on Tuesday, July 22nd. The shares were sold at an average price of $109.32, for a total value of $3,716,880.00. Following the transaction, the chief financial officer directly owned 264,036 shares of the company's stock, valued at $28,864,415.52. This trade represents a 11.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 288,446 shares of company stock valued at $34,871,597 over the last three months. 0.30% of the stock is currently owned by company insiders.

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.