Micron Technology, Inc. (NASDAQ:MU) Shares Bought by Thoroughbred Financial Services LLC

Thoroughbred Financial Services LLC raised its position in Micron Technology, Inc. (NASDAQ:MU) by 43.2% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 22,932 shares of the semiconductor manufacturer’s stock after acquiring an additional 6,922 shares during the period. Thoroughbred Financial Services LLC’s holdings in Micron Technology were worth $3,016,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in MU. Vanguard Group Inc. grew its holdings in Micron Technology by 1.8% during the first quarter. Vanguard Group Inc. now owns 96,666,590 shares of the semiconductor manufacturer’s stock worth $11,396,024,000 after acquiring an additional 1,681,815 shares during the period. Capital World Investors boosted its holdings in Micron Technology by 6.6% during the first quarter. Capital World Investors now owns 22,748,381 shares of the semiconductor manufacturer’s stock worth $2,681,807,000 after buying an additional 1,400,154 shares in the last quarter. Sanders Capital LLC grew its position in Micron Technology by 2.3% during the fourth quarter. Sanders Capital LLC now owns 22,583,348 shares of the semiconductor manufacturer’s stock worth $1,927,263,000 after buying an additional 503,923 shares during the period. Capital International Investors lifted its position in shares of Micron Technology by 15.1% during the 1st quarter. Capital International Investors now owns 18,303,506 shares of the semiconductor manufacturer’s stock valued at $2,157,800,000 after acquiring an additional 2,397,885 shares during the period. Finally, Price T Rowe Associates Inc. MD boosted its stake in shares of Micron Technology by 22.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 18,243,633 shares of the semiconductor manufacturer’s stock worth $2,150,743,000 after acquiring an additional 3,315,988 shares in the last quarter. Hedge funds and other institutional investors own 80.84% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on MU. KeyCorp reduced their price objective on Micron Technology from $165.00 to $145.00 and set an “overweight” rating for the company in a report on Tuesday, August 6th. Mizuho boosted their price objective on shares of Micron Technology from $150.00 to $155.00 and gave the stock a “buy” rating in a research report on Friday, May 31st. Wedbush reissued an “outperform” rating and issued a $170.00 price objective on shares of Micron Technology in a research note on Thursday, June 27th. Piper Sandler lifted their target price on shares of Micron Technology from $130.00 to $150.00 and gave the stock an “overweight” rating in a research report on Thursday, June 27th. Finally, Wolfe Research increased their price target on shares of Micron Technology from $150.00 to $200.00 and gave the company an “outperform” rating in a research report on Friday, June 21st. One research analyst has rated the stock with a sell rating, two have given a hold rating and twenty-five have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $152.31.

Micron Technology Price Performance

Micron Technology stock opened at $91.22 on Friday. Micron Technology, Inc. has a 1 year low of $63.83 and a 1 year high of $157.54. The company has a debt-to-equity ratio of 0.29, a quick ratio of 2.16 and a current ratio of 3.41. The firm has a 50 day moving average price of $104.18 and a 200 day moving average price of $114.69. The company has a market cap of $101.15 billion, a price-to-earnings ratio of -64.24 and a beta of 1.17.

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

Micron Technology Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 23rd. Shareholders of record on Monday, July 8th were paid 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 0.50%. Micron Technology’s dividend payout ratio is presently -32.39%.

Insider Activity

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