Micron Technology, Inc. (NASDAQ:MU) Shares Sold by Menora Mivtachim Holdings LTD.

Key Points

• Menora Mivtachim Holdings LTD. has reduced its holdings in Micron Technology by 0.3%, now owning approximately 0.10% of the company with a value of $96,348,000.
• Micron Technology reported a quarterly net revenue of $9.30 billion and earnings per share of $1.91, surpassing analysts' expectations.
• Research analysts have a consensus rating of "Moderate Buy" for Micron Technology, with a target price of $147.24, reflecting positive sentiment towards the stock.

Menora Mivtachim Holdings LTD. reduced its holdings in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 0.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,108,850 shares of the semiconductor manufacturer's stock after selling 3,000 shares during the period. Menora Mivtachim Holdings LTD. owned approximately 0.10% of Micron Technology worth $96,348,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. Brighton Jones LLC increased its stake in Micron Technology by 18.3% during the fourth quarter. Brighton Jones LLC now owns 6,318 shares of the semiconductor manufacturer's stock worth $532,000 after acquiring an additional 976 shares during the last quarter. Bank Pictet & Cie Europe AG raised its holdings in Micron Technology by 19.5% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 85,722 shares of the semiconductor manufacturer's stock valued at $7,214,000 after buying an additional 13,985 shares during the period. Jump Financial LLC lifted its position in Micron Technology by 43.3% in the fourth quarter. Jump Financial LLC now owns 5,975 shares of the semiconductor manufacturer's stock valued at $503,000 after buying an additional 1,804 shares during the last quarter. United Capital Financial Advisors LLC boosted its stake in Micron Technology by 4.3% during the fourth quarter. United Capital Financial Advisors LLC now owns 24,899 shares of the semiconductor manufacturer's stock worth $2,096,000 after buying an additional 1,027 shares during the period. Finally, NewEdge Advisors LLC increased its position in shares of Micron Technology by 16.0% during the fourth quarter. NewEdge Advisors LLC now owns 72,846 shares of the semiconductor manufacturer's stock valued at $6,131,000 after acquiring an additional 10,038 shares during the last quarter. 80.84% of the stock is currently owned by hedge funds and other institutional investors.

Micron Technology Stock Performance

NASDAQ:MU opened at $120.87 on Friday. Micron Technology, Inc. has a 1-year low of $61.54 and a 1-year high of $129.85. The stock has a market cap of $135.27 billion, a P/E ratio of 21.78 and a beta of 1.37. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.75 and a quick ratio of 1.89. The firm has a 50-day moving average of $118.02 and a two-hundred day moving average of $99.06.

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

Micron Technology Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 22nd. Shareholders of record on Monday, July 7th were paid a $0.115 dividend. The ex-dividend date was Monday, July 7th. This represents a $0.46 annualized dividend and a dividend yield of 0.4%. Micron Technology's dividend payout ratio (DPR) is presently 8.29%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Susquehanna lifted their price objective on shares of Micron Technology from $150.00 to $160.00 and gave the company a "positive" rating in a report on Thursday, June 26th. Arete Research raised Micron Technology to a "strong-buy" rating in a research report on Friday, July 18th. UBS Group lifted their target price on Micron Technology from $120.00 to $155.00 and gave the company a "buy" rating in a report on Thursday, June 26th. Wells Fargo & Company upped their price target on Micron Technology from $150.00 to $170.00 and gave the stock an "overweight" rating in a report on Thursday, June 26th. Finally, Cantor Fitzgerald increased their price target on Micron Technology from $145.00 to $155.00 and gave the company an "overweight" rating in a research report on Thursday, June 26th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, twenty have issued a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $147.24.

Insider Activity at Micron Technology

In related news, Director Steven J. Gomo sold 7,000 shares of the firm's stock in a transaction dated Friday, June 27th. The stock was sold at an average price of $125.15, for a total transaction of $876,050.00. Following the completion of the transaction, the director owned 22,762 shares of the company's stock, valued at $2,848,664.30. This trade represents a 23.52% 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 Manish H. Bhatia sold 80,000 shares of the company's stock in a transaction on Monday, June 30th. The shares were 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 of the company's stock, valued at approximately $33,877,251.72. This represents a 22.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 286,042 shares of company stock valued at $34,679,277. Company insiders own 0.30% of the company's stock.

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.

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