Thornburg Investment Management Inc. Sells 14,522 Shares of Micron Technology, Inc. (NASDAQ:MU)

Thornburg Investment Management Inc. trimmed its holdings in Micron Technology, Inc. (NASDAQ:MU) by 6.2% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 219,401 shares of the semiconductor manufacturer’s stock after selling 14,522 shares during the quarter. Thornburg Investment Management Inc.’s holdings in Micron Technology were worth $28,833,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of MU. Atria Investments Inc lifted its position in shares of Micron Technology by 0.3% in the 1st quarter. Atria Investments Inc now owns 27,749 shares of the semiconductor manufacturer’s stock worth $3,269,000 after acquiring an additional 93 shares during the period. Aspect Partners LLC lifted its position in Micron Technology by 39.8% in the second quarter. Aspect Partners LLC now owns 330 shares of the semiconductor manufacturer’s stock worth $43,000 after purchasing an additional 94 shares during the period. Revolve Wealth Partners LLC lifted its position in Micron Technology by 1.5% in the first quarter. Revolve Wealth Partners LLC now owns 6,582 shares of the semiconductor manufacturer’s stock worth $776,000 after purchasing an additional 98 shares during the period. Ameritas Advisory Services LLC increased its holdings in Micron Technology by 1.3% in the 2nd quarter. Ameritas Advisory Services LLC now owns 7,625 shares of the semiconductor manufacturer’s stock valued at $1,003,000 after buying an additional 98 shares during the period. Finally, LRI Investments LLC increased its holdings in Micron Technology by 57.2% in the 2nd quarter. LRI Investments LLC now owns 272 shares of the semiconductor manufacturer’s stock valued at $36,000 after buying an additional 99 shares during the period. Institutional investors own 80.84% of the company’s stock.

Wall Street Analyst Weigh In

MU has been the topic of several recent research reports. Piper Sandler lifted their target price on shares of Micron Technology from $130.00 to $150.00 and gave the company an “overweight” rating in a research report on Thursday, June 27th. Robert W. Baird lifted their price objective on Micron Technology from $150.00 to $172.00 and gave the company an “outperform” rating in a report on Monday, June 24th. Mizuho increased their target price on Micron Technology from $150.00 to $155.00 and gave the stock a “buy” rating in a report on Friday, May 31st. Susquehanna decreased their price target on Micron Technology from $185.00 to $175.00 and set a “positive” rating on the stock in a research note on Thursday, August 22nd. Finally, KeyCorp dropped their price objective on Micron Technology from $165.00 to $145.00 and set an “overweight” rating for the company in a research note on Tuesday, August 6th. Two analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Micron Technology currently has a consensus rating of “Moderate Buy” and a consensus target price of $157.12.

Insider Buying and Selling at Micron Technology

In related news, CEO Sanjay Mehrotra sold 34,284 shares of the company’s stock in a transaction on Tuesday, June 18th. The shares were sold at an average price of $152.28, for a total value of $5,220,767.52. Following the completion of the transaction, the chief executive officer now directly owns 719,049 shares of the company’s stock, valued at approximately $109,496,781.72. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, CEO Sanjay Mehrotra sold 34,284 shares of the firm’s stock in a transaction that occurred on Tuesday, June 18th. The shares were sold at an average price of $152.28, for a total transaction of $5,220,767.52. Following the completion of the transaction, the chief executive officer now directly owns 719,049 shares of the company’s stock, valued at approximately $109,496,781.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP April S. Arnzen sold 4,890 shares of the stock in a transaction on Thursday, June 27th. The stock was sold at an average price of $135.86, for a total transaction of $664,355.40. Following the transaction, the executive vice president now owns 142,321 shares of the company’s stock, valued at approximately $19,335,731.06. The disclosure for this sale can be found here. Insiders own 0.32% of the company’s stock.

Micron Technology Trading Up 4.4 %

Shares of NASDAQ MU opened at $90.65 on Thursday. The company has a quick ratio of 2.16, a current ratio of 3.41 and a debt-to-equity ratio of 0.29. Micron Technology, Inc. has a twelve month low of $63.83 and a twelve month high of $157.54. The company’s fifty day moving average is $105.98 and its 200-day moving average is $114.87. The stock has a market cap of $100.52 billion, a price-to-earnings ratio of -63.84 and a beta of 1.17.

Micron Technology (NASDAQ:MU) last posted its earnings results on Wednesday, June 26th. The semiconductor manufacturer reported $0.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.14. The firm had revenue of $6.81 billion during the quarter, compared to analysts’ expectations of $6.67 billion. Micron Technology had a negative return on equity of 4.01% and a negative net margin of 7.20%. The company’s revenue was up 81.5% on a year-over-year basis. During the same period in the previous year, the firm earned ($1.57) earnings per share. Equities research analysts predict that Micron Technology, Inc. will post 0.61 EPS for the current year.

Micron Technology Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 23rd. Shareholders of record on Monday, July 8th were issued a dividend of $0.115 per share. The ex-dividend date was Monday, July 8th. This represents a $0.46 annualized dividend and a yield of 0.51%. Micron Technology’s dividend payout ratio (DPR) is currently -32.39%.

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.