Marathon Asset Management Ltd Sells 53,545 Shares of Micron Technology, Inc. (NASDAQ:MU)

Marathon Asset Management Ltd trimmed its position in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) by 10.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 476,465 shares of the semiconductor manufacturer's stock after selling 53,545 shares during the period. Micron Technology makes up approximately 1.3% of Marathon Asset Management Ltd's holdings, making the stock its 28th largest holding. Marathon Asset Management Ltd's holdings in Micron Technology were worth $41,453,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Sunbeam Capital Management LLC bought a new position in Micron Technology during the fourth quarter valued at about $26,000. Opal Wealth Advisors LLC bought a new stake in shares of Micron Technology in the 1st quarter valued at approximately $33,000. Curio Wealth LLC bought a new stake in shares of Micron Technology in the 4th quarter valued at approximately $34,000. Hurley Capital LLC bought a new stake in shares of Micron Technology in the 4th quarter valued at approximately $37,000. Finally, Roxbury Financial LLC grew its stake in shares of Micron Technology by 306.1% in the 1st quarter. Roxbury Financial LLC now owns 398 shares of the semiconductor manufacturer's stock valued at $37,000 after purchasing an additional 300 shares during the period. 80.84% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

MU has been the topic of several analyst reports. Citigroup upped their price objective on Micron Technology from $130.00 to $150.00 and gave the company a "buy" rating in a research note on Thursday. Cantor Fitzgerald upped their price objective on Micron Technology from $145.00 to $155.00 and gave the company an "overweight" rating in a research note on Thursday. Bank of America upped their price objective on Micron Technology from $84.00 to $140.00 and gave the company a "neutral" rating in a research note on Thursday. Rosenblatt Securities upped their price objective on Micron Technology from $172.00 to $200.00 and gave the company a "buy" rating in a research note on Monday, June 23rd. Finally, Piper Sandler upped their price objective on Micron Technology from $120.00 to $165.00 and gave the company an "overweight" rating in a research note on Thursday. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $146.21.

Insiders Place Their Bets

In other Micron Technology news, Director Mary Pat Mccarthy sold 2,404 shares of the company's stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $80.00, for a total transaction of $192,320.00. Following the completion of the sale, the director now owns 24,954 shares in the company, valued at approximately $1,996,320. The trade was a 8.79% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Scott J. Deboer sold 20,000 shares of the company's stock in a transaction on Friday, June 6th. The shares were sold at an average price of $110.00, for a total transaction of $2,200,000.00. Following the sale, the executive vice president now owns 186,353 shares of the company's stock, valued at $20,498,830. The trade was a 9.69% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 72,404 shares of company stock valued at $8,509,167. 0.30% of the stock is currently owned by corporate insiders.

Micron Technology Trading Down 1.0%

NASDAQ:MU traded down $1.24 during trading hours on Friday, hitting $124.76. 36,813,002 shares of the stock were exchanged, compared to its average volume of 23,307,672. The company's 50 day moving average is $98.71 and its two-hundred day moving average is $94.18. Micron Technology, Inc. has a twelve month low of $61.54 and a twelve month high of $137.13. The company has a quick ratio of 1.99, a current ratio of 3.13 and a debt-to-equity ratio of 0.28. The company has a market capitalization of $139.43 billion, a P/E ratio of 22.48 and a beta of 1.28.

Micron Technology (NASDAQ:MU - Get Free Report) last posted its quarterly earnings data on Wednesday, June 25th. The semiconductor manufacturer reported $1.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.57 by $0.34. Micron Technology had a return on equity of 13.88% and a net margin of 18.41%. The firm had revenue of $9.30 billion for the quarter, compared to the consensus estimate of $8.83 billion. During the same quarter in the prior year, the business earned $0.62 EPS. On average, sell-side analysts anticipate that Micron Technology, Inc. will post 6.08 earnings per share for the current fiscal year.

Micron Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 22nd. Shareholders of record on Monday, July 7th will be issued a dividend of $0.115 per share. This represents a $0.46 annualized dividend and a yield of 0.37%. The ex-dividend date of this dividend is Monday, July 7th. Micron Technology's dividend payout ratio is 11.03%.

About Micron Technology

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.