Micron Technology, Inc. (NASDAQ:MU) Shares Sold by Boston Partners

Key Points

• Boston Partners has reduced its stake in Micron Technology by 8.3%, owning 4,883,112 shares worth approximately $420 million after selling 440,012 shares.
• Micron Technology reported a quarterly earnings per share (EPS) of $1.91, exceeding analysts' expectations of $1.57, with revenue reaching $9.30 billion.
• Several investment firms significantly increased their stakes in Micron during the fourth quarter, indicating strong institutional interest, as institutional investors now own 80.84% of the company's stock.

Boston Partners decreased its position in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 8.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,883,112 shares of the semiconductor manufacturer's stock after selling 440,012 shares during the quarter. Boston Partners owned 0.44% of Micron Technology worth $420,496,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of MU. Capital World Investors lifted its stake in Micron Technology by 63.7% during the fourth quarter. Capital World Investors now owns 41,096,391 shares of the semiconductor manufacturer's stock worth $3,458,673,000 after purchasing an additional 15,993,036 shares during the last quarter. Capital Research Global Investors lifted its stake in Micron Technology by 139.7% during the fourth quarter. Capital Research Global Investors now owns 16,281,620 shares of the semiconductor manufacturer's stock worth $1,370,280,000 after purchasing an additional 9,489,579 shares during the last quarter. Capital International Investors lifted its stake in Micron Technology by 36.3% during the fourth quarter. Capital International Investors now owns 16,437,080 shares of the semiconductor manufacturer's stock worth $1,383,442,000 after purchasing an additional 4,375,232 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in Micron Technology by 198.4% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 6,545,882 shares of the semiconductor manufacturer's stock worth $550,903,000 after purchasing an additional 4,352,225 shares during the last quarter. Finally, Nuveen LLC bought a new position in Micron Technology during the first quarter worth $369,191,000. Institutional investors and hedge funds own 80.84% of the company's stock.

Micron Technology Trading Up 3.3%

Shares of MU stock opened at $127.75 on Wednesday. The company has a market cap of $142.97 billion, a P/E ratio of 23.02 and a beta of 1.37. The stock has a 50 day simple moving average of $116.97 and a two-hundred day simple moving average of $98.42. 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 fifty-two week low of $61.54 and a fifty-two week high of $129.85.

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

Micron Technology Dividend Announcement

The business also recently announced 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. The ex-dividend date of this dividend was Monday, July 7th. This represents a $0.46 annualized dividend and a dividend yield of 0.4%. Micron Technology's payout ratio is presently 8.29%.

Insider Activity at Micron Technology

In other Micron Technology news, EVP Manish H. Bhatia sold 80,000 shares of the business's stock in a transaction on Monday, June 30th. The stock was sold at an average price of $123.16, for a total value of $9,852,800.00. Following the sale, the executive vice president directly owned 275,067 shares in the company, valued at $33,877,251.72. The trade was a 22.53% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Scott J. Deboer sold 20,000 shares of the business's stock in a transaction on Friday, June 6th. The shares were sold at an average price of $110.00, for a total value of $2,200,000.00. Following the completion of the sale, the executive vice president owned 186,353 shares in the company, valued at approximately $20,498,830. The trade was a 9.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 286,042 shares of company stock valued at $34,679,277 over the last 90 days. Corporate insiders own 0.30% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Morgan Stanley lifted their price objective on shares of Micron Technology from $98.00 to $135.00 and gave the company an "equal weight" rating in a research note on Thursday, June 26th. UBS Group lifted their price objective on shares of Micron Technology from $120.00 to $155.00 and gave the company a "buy" rating in a research note on Thursday, June 26th. TD Cowen lifted their price objective on shares of Micron Technology from $125.00 to $150.00 and gave the company a "buy" rating in a research note on Thursday, June 26th. The Goldman Sachs Group assumed coverage on shares of Micron Technology in a research note on Thursday, July 10th. They set a "neutral" rating and a $130.00 price objective on the stock. Finally, Cantor Fitzgerald lifted their price objective on shares of Micron Technology from $145.00 to $155.00 and gave the company an "overweight" rating in a research note on Thursday, June 26th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Micron Technology presently has a consensus rating of "Moderate Buy" and a consensus target price of $147.24.

Micron Technology Company 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.

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