Micron Technology, Inc. (NASDAQ:MU) Shares Sold by Motley Fool Wealth Management LLC

Key Points

• Motley Fool Wealth Management LLC reduced its holdings in Micron Technology by 1.8%, now owning 191,983 shares valued at approximately $16.68 million.
• Insider selling was notable, with EVP Manish H. Bhatia selling 80,000 shares for nearly $9.85 million, resulting in a 22.53% decrease in his ownership.
• Micron's recent quarterly performance showed an EPS of $1.91, surpassing estimates, with analysts maintaining a consensus rating of “Moderate Buy” and an average price target of $146.44.

Motley Fool Wealth Management LLC lessened its holdings in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) by 1.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 191,983 shares of the semiconductor manufacturer's stock after selling 3,443 shares during the period. Micron Technology makes up about 1.0% of Motley Fool Wealth Management LLC's portfolio, making the stock its 26th biggest holding. Motley Fool Wealth Management LLC's holdings in Micron Technology were worth $16,681,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in MU. Vanguard Group Inc. grew its position in Micron Technology by 2.1% during the 1st quarter. Vanguard Group Inc. now owns 101,906,368 shares of the semiconductor manufacturer's stock worth $8,854,644,000 after purchasing an additional 2,049,163 shares during the last quarter. Capital World Investors lifted its stake in shares of 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 buying an additional 15,993,036 shares during the period. Capital International Investors lifted its stake in shares of 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 buying an additional 4,375,232 shares during the period. Capital Research Global Investors grew its holdings in shares of 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 valued at $1,370,280,000 after buying an additional 9,489,579 shares during the last quarter. Finally, Northern Trust Corp grew its holdings in shares of Micron Technology by 13.7% during the fourth quarter. Northern Trust Corp now owns 10,712,056 shares of the semiconductor manufacturer's stock valued at $901,527,000 after buying an additional 1,287,063 shares during the last quarter. Institutional investors and hedge funds own 80.84% of the company's stock.

Insider Buying and Selling

In other Micron Technology news, EVP Manish H. Bhatia sold 80,000 shares of the stock in a transaction on Monday, June 30th. The shares were sold at an average price of $123.16, for a total transaction of $9,852,800.00. Following the transaction, the executive vice president directly owned 275,067 shares of the company's stock, valued at $33,877,251.72. This trade represents a 22.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Mary Pat Mccarthy sold 2,404 shares of the business's stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $121.28, for a total transaction of $291,557.12. Following the sale, the director directly owned 22,550 shares of the company's stock, valued at $2,734,864. This represents a 9.63% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 286,042 shares of company stock worth $34,679,277 in the last 90 days. 0.30% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. KGI Securities lowered Micron Technology from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, July 23rd. Bank of America raised their price objective on Micron Technology from $84.00 to $140.00 and gave the stock a "neutral" rating in a research note on Thursday, June 26th. TD Cowen lifted their target price on Micron Technology from $125.00 to $150.00 and gave the stock a "buy" rating in a report on Thursday, June 26th. Cantor Fitzgerald upped their target price on Micron Technology from $145.00 to $155.00 and gave the company an "overweight" rating in a research report on Thursday, June 26th. Finally, Morgan Stanley increased their price target on shares of Micron Technology from $98.00 to $135.00 and gave the stock an "equal weight" rating in a report on Thursday, June 26th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $146.44.

Micron Technology Price Performance

NASDAQ:MU opened at $118.89 on Monday. The company has a quick ratio of 1.89, a current ratio of 2.75 and a debt-to-equity ratio of 0.30. Micron Technology, Inc. has a 52 week low of $61.54 and a 52 week high of $129.85. The stock's 50-day moving average price is $115.95 and its 200-day moving average price is $98.07. The stock has a market capitalization of $133.05 billion, a PE ratio of 21.42 and a beta of 1.37.

Micron Technology (NASDAQ:MU - Get Free Report) last issued its quarterly earnings data on Wednesday, June 25th. The semiconductor manufacturer reported $1.91 EPS for the quarter, beating the consensus estimate of $1.57 by $0.34. The company had revenue of $9.30 billion for the quarter, compared to analyst estimates of $8.83 billion. Micron Technology had a return on equity of 13.60% and a net margin of 18.41%. During the same period last year, the company earned $0.62 earnings per share. As a group, equities analysts expect that Micron Technology, Inc. will post 6.08 EPS for the current fiscal year.

Micron Technology Dividend Announcement

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

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.

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