Micron Technology, Inc. (NASDAQ:MU) Stake Reduced by Tybourne Capital Management HK Ltd.

Tybourne Capital Management HK Ltd. cut its holdings in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 14.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 22,021 shares of the semiconductor manufacturer's stock after selling 3,863 shares during the quarter. Tybourne Capital Management HK Ltd.'s holdings in Micron Technology were worth $1,853,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. Beacon Capital Management LLC raised its holdings in Micron Technology by 114.9% during the 4th quarter. Beacon Capital Management LLC now owns 374 shares of the semiconductor manufacturer's stock worth $31,000 after buying an additional 200 shares during the period. Midwest Capital Advisors LLC acquired a new stake in Micron Technology during the 4th quarter worth about $33,000. Activest Wealth Management raised its holdings in Micron Technology by 583.3% during the 4th quarter. Activest Wealth Management now owns 410 shares of the semiconductor manufacturer's stock worth $34,000 after buying an additional 350 shares during the period. Comprehensive Financial Planning Inc. PA acquired a new stake in Micron Technology during the 4th quarter worth about $34,000. Finally, Curio Wealth LLC acquired a new stake in Micron Technology during the 4th quarter worth about $34,000. 80.84% of the stock is currently owned by institutional investors.

Micron Technology Stock Up 2.7%

Shares of Micron Technology stock opened at $98.00 on Monday. The stock has a market capitalization of $109.52 billion, a P/E ratio of 28.24 and a beta of 1.21. The company has a quick ratio of 1.75, a current ratio of 2.72 and a debt-to-equity ratio of 0.28. The stock has a 50 day moving average price of $83.13 and a two-hundred day moving average price of $92.56. Micron Technology, Inc. has a 12-month low of $61.54 and a 12-month high of $157.54.

Micron Technology (NASDAQ:MU - Get Free Report) last announced its earnings results on Thursday, March 20th. The semiconductor manufacturer reported $1.56 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.43 by $0.13. The firm had revenue of $8.05 billion during the quarter, compared to analysts' expectations of $7.93 billion. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. The company's revenue was up 38.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.42 earnings per share. Equities analysts expect that Micron Technology, Inc. will post 6.08 earnings per share for the current year.

Micron Technology Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were given a dividend of $0.115 per share. The ex-dividend date of this dividend was Monday, March 31st. This represents a $0.46 dividend on an annualized basis and a yield of 0.47%. Micron Technology's payout ratio is currently 11.03%.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on MU shares. China Renaissance cut Micron Technology from a "buy" rating to a "hold" rating and set a $84.00 target price on the stock. in a research note on Wednesday, March 26th. Morgan Stanley lowered their target price on Micron Technology from $112.00 to $98.00 and set an "equal weight" rating on the stock in a research note on Wednesday, May 7th. JPMorgan Chase & Co. lowered their target price on Micron Technology from $145.00 to $135.00 and set an "overweight" rating on the stock in a research note on Friday, March 21st. Wedbush reaffirmed an "underperform" rating on shares of Micron Technology in a research note on Monday, April 28th. Finally, UBS Group lowered their target price on Micron Technology from $130.00 to $92.00 and set a "buy" rating on the stock in a research note on Monday, April 28th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $126.48.

Insiders Place Their Bets

In other news, EVP April S. Arnzen sold 15,000 shares of the company's stock in a transaction that occurred on Tuesday, March 25th. The stock was sold at an average price of $96.18, for a total transaction of $1,442,700.00. Following the completion of the transaction, the executive vice president now directly owns 164,769 shares in the company, valued at $15,847,482.42. The trade was a 8.34% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Mary Pat Mccarthy sold 2,404 shares of the company's stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $92.93, for a total value of $223,403.72. Following the transaction, the director now owns 27,358 shares of the company's stock, valued at approximately $2,542,378.94. This trade represents a 8.08% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 19,808 shares of company stock valued at $1,858,424 over the last 90 days. 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.

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