Kercheville Advisors LLC Cuts Stake in Micron Technology, Inc. (NASDAQ:MU)

Kercheville Advisors LLC lessened its stake in shares of Micron Technology, Inc. (NASDAQ:MU) by 38.6% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 21,175 shares of the semiconductor manufacturer’s stock after selling 13,300 shares during the period. Micron Technology comprises about 0.7% of Kercheville Advisors LLC’s holdings, making the stock its 29th biggest position. Kercheville Advisors LLC’s holdings in Micron Technology were worth $1,782,000 as of its most recent filing with the SEC.

Other hedge funds have also added to or reduced their stakes in the company. Czech National Bank boosted its position in Micron Technology by 7.1% during the third quarter. Czech National Bank now owns 225,924 shares of the semiconductor manufacturer’s stock worth $23,431,000 after purchasing an additional 14,902 shares during the period. Kesler Norman & Wride LLC bought a new stake in Micron Technology during the 3rd quarter valued at $795,000. Sage Capital Advisors llc purchased a new position in shares of Micron Technology in the third quarter valued at $248,000. Wedmont Private Capital lifted its holdings in shares of Micron Technology by 0.9% in the third quarter. Wedmont Private Capital now owns 12,887 shares of the semiconductor manufacturer’s stock worth $1,326,000 after buying an additional 120 shares in the last quarter. Finally, Sanibel Captiva Trust Company Inc. boosted its position in shares of Micron Technology by 99.3% in the third quarter. Sanibel Captiva Trust Company Inc. now owns 8,591 shares of the semiconductor manufacturer’s stock valued at $891,000 after acquiring an additional 4,281 shares during the period. Institutional investors own 80.84% of the company’s stock.

Analysts Set New Price Targets

Several analysts have weighed in on the company. Morgan Stanley lowered their price target on Micron Technology from $98.00 to $91.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 28th. The Goldman Sachs Group decreased their price target on shares of Micron Technology from $145.00 to $128.00 and set a “buy” rating on the stock in a report on Thursday, December 19th. Sanford C. Bernstein cut their target price on shares of Micron Technology from $140.00 to $120.00 and set an “outperform” rating for the company in a research report on Wednesday, December 18th. China Renaissance began coverage on Micron Technology in a research report on Monday, October 28th. They set a “buy” rating and a $148.00 price target on the stock. Finally, Wells Fargo & Company dropped their target price on Micron Technology from $175.00 to $140.00 and set an “overweight” rating for the company in a research report on Thursday, December 19th. One analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-three have given a buy rating to the company’s stock. Based on data from MarketBeat, Micron Technology currently has an average rating of “Moderate Buy” and a consensus price target of $134.96.

Micron Technology Trading Up 3.2 %

Shares of MU stock opened at $93.60 on Thursday. The stock has a market capitalization of $104.29 billion, a P/E ratio of 26.97 and a beta of 1.18. The company has a current ratio of 2.72, a quick ratio of 1.75 and a debt-to-equity ratio of 0.28. The firm’s 50 day moving average is $96.91 and its 200 day moving average is $99.38. Micron Technology, Inc. has a 12-month low of $79.15 and a 12-month high of $157.54.

Micron Technology (NASDAQ:MU) last issued its quarterly earnings results on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 EPS for the quarter, topping analysts’ consensus estimates of $1.60 by $0.19. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. The business had revenue of $8.71 billion during the quarter, compared to analysts’ expectations of $8.71 billion. During the same quarter in the prior year, the business posted ($0.95) earnings per share. The business’s quarterly revenue was up 84.3% on a year-over-year basis. Research analysts expect that Micron Technology, Inc. will post 6.29 earnings per share for the current year.

Micron Technology Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Monday, December 30th were paid a $0.115 dividend. This represents a $0.46 annualized dividend and a yield of 0.49%. The ex-dividend date of this dividend was Monday, December 30th. Micron Technology’s payout ratio is currently 13.26%.

Insider Transactions at Micron Technology

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of the business’s stock in a transaction on Friday, December 20th. The shares were sold at an average price of $85.21, for a total transaction of $416,676.90. Following the transaction, the executive vice president now owns 181,223 shares in the company, valued at $15,442,011.83. The trade was a 2.63 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 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.