Yacktman Asset Management LP Has $33.76 Million Stock Position in Micron Technology, Inc. (NASDAQ:MU)

Yacktman Asset Management LP lessened its position in shares of Micron Technology, Inc. (NASDAQ:MU) by 1.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 395,600 shares of the semiconductor manufacturer’s stock after selling 4,845 shares during the quarter. Yacktman Asset Management LP’s holdings in Micron Technology were worth $33,761,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. OFI Invest Asset Management bought a new position in Micron Technology in the third quarter valued at $27,000. Annis Gardner Whiting Capital Advisors LLC acquired a new stake in Micron Technology in the 3rd quarter worth about $28,000. VisionPoint Advisory Group LLC grew its position in Micron Technology by 68.3% during the third quarter. VisionPoint Advisory Group LLC now owns 488 shares of the semiconductor manufacturer’s stock worth $33,000 after buying an additional 198 shares in the last quarter. Cape Investment Advisory Inc. increased its position in shares of Micron Technology by 51.0% in the third quarter. Cape Investment Advisory Inc. now owns 592 shares of the semiconductor manufacturer’s stock worth $40,000 after purchasing an additional 200 shares during the period. Finally, Clear Street Markets LLC lifted its holdings in shares of Micron Technology by 67.5% during the 3rd quarter. Clear Street Markets LLC now owns 623 shares of the semiconductor manufacturer’s stock worth $42,000 after acquiring an additional 251 shares during the period. Institutional investors and hedge funds own 80.84% of the company’s stock.

Micron Technology Trading Up 2.8 %

Shares of MU stock traded up $3.16 during mid-day trading on Friday, reaching $114.74. The stock had a trading volume of 15,164,086 shares, compared to its average volume of 20,489,420. Micron Technology, Inc. has a 52-week low of $59.55 and a 52-week high of $130.54. The company has a current ratio of 3.74, a quick ratio of 2.40 and a debt-to-equity ratio of 0.30. The stock’s 50-day moving average price is $105.24 and its two-hundred day moving average price is $87.85. The firm has a market capitalization of $127.06 billion, a PE ratio of -32.79 and a beta of 1.27.

Micron Technology (NASDAQ:MU) last issued its quarterly earnings data on Wednesday, March 20th. The semiconductor manufacturer reported $0.42 EPS for the quarter, topping the consensus estimate of ($0.27) by $0.69. Micron Technology had a negative net margin of 20.57% and a negative return on equity of 8.98%. The business had revenue of $5.82 billion during the quarter, compared to analyst estimates of $5.35 billion. During the same period in the prior year, the business earned ($2.03) EPS. The company’s revenue for the quarter was up 57.7% on a year-over-year basis. Equities analysts expect that Micron Technology, Inc. will post 0.24 earnings per share for the current fiscal year.

Micron Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 16th. Shareholders of record on Monday, April 1st were paid a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a yield of 0.40%. The ex-dividend date was Thursday, March 28th. Micron Technology’s payout ratio is -13.33%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Barclays upped their target price on Micron Technology from $95.00 to $120.00 and gave the stock an “overweight” rating in a report on Monday, March 18th. Raymond James lifted their price objective on shares of Micron Technology from $90.00 to $100.00 and gave the company an “outperform” rating in a research note on Friday, January 19th. Citigroup reissued a “buy” rating and set a $150.00 target price on shares of Micron Technology in a research note on Thursday, April 4th. Morgan Stanley increased their target price on Micron Technology from $78.00 to $98.00 and gave the stock an “underweight” rating in a report on Thursday, March 21st. Finally, Piper Sandler raised their target price on Micron Technology from $95.00 to $130.00 and gave the company an “overweight” rating in a report on Thursday, March 21st. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $122.20.

Insider Buying and Selling

In related news, CEO Sanjay Mehrotra sold 7,000 shares of the stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $87.02, for a total transaction of $609,140.00. Following the sale, the chief executive officer now directly owns 788,557 shares of the company’s stock, valued at $68,620,230.14. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of the business’s stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $119.30, for a total transaction of $583,377.00. Following the completion of the sale, the executive vice president now directly owns 148,817 shares in the company, valued at approximately $17,753,868.10. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Sanjay Mehrotra sold 7,000 shares of the stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $87.02, for a total transaction of $609,140.00. Following the completion of the transaction, the chief executive officer now owns 788,557 shares in the company, valued at approximately $68,620,230.14. The disclosure for this sale can be found here. Insiders have sold a total of 268,890 shares of company stock worth $29,738,667 in the last quarter. 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.