Micron Technology, Inc. $MU Shares Sold by KG&L Capital Management LLC

KG&L Capital Management LLC lowered its stake in Micron Technology, Inc. (NASDAQ:MU) by 44.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,452 shares of the semiconductor manufacturer’s stock after selling 5,185 shares during the quarter. KG&L Capital Management LLC’s holdings in Micron Technology were worth $795,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of MU. Nuveen LLC acquired a new stake in shares of Micron Technology during the first quarter worth about $369,191,000. Vanguard Group Inc. increased its stake in shares of Micron Technology by 2.1% during the first quarter. Vanguard Group Inc. now owns 101,906,368 shares of the semiconductor manufacturer’s stock worth $8,854,644,000 after buying an additional 2,049,163 shares during the period. Goldman Sachs Group Inc. increased its stake in shares of Micron Technology by 23.8% during the first quarter. Goldman Sachs Group Inc. now owns 10,616,488 shares of the semiconductor manufacturer’s stock worth $922,467,000 after buying an additional 2,038,641 shares during the period. GAMMA Investing LLC increased its stake in shares of Micron Technology by 10,369.6% during the first quarter. GAMMA Investing LLC now owns 1,873,435 shares of the semiconductor manufacturer’s stock worth $162,783,000 after buying an additional 1,855,541 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in shares of Micron Technology by 26.3% during the first quarter. Dimensional Fund Advisors LP now owns 6,800,052 shares of the semiconductor manufacturer’s stock worth $590,807,000 after buying an additional 1,416,174 shares during the period. Institutional investors and hedge funds own 80.84% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on MU. Barclays upped their target price on shares of Micron Technology from $140.00 to $175.00 and gave the stock an “overweight” rating in a research note on Friday, September 19th. Stifel Nicolaus upped their target price on shares of Micron Technology from $173.00 to $195.00 and gave the stock a “buy” rating in a research note on Monday, September 22nd. Wall Street Zen upgraded shares of Micron Technology from a “buy” rating to a “strong-buy” rating in a research note on Friday. Arete Research upgraded shares of Micron Technology to a “strong-buy” rating in a research note on Friday, July 18th. Finally, UBS Group raised their price objective on shares of Micron Technology from $185.00 to $195.00 and gave the stock a “buy” rating in a report on Wednesday. Four analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $184.77.

Insider Activity

In related news, CEO Sanjay Mehrotra sold 13,798 shares of the business’s stock in a transaction dated Friday, September 19th. The shares were sold at an average price of $162.20, for a total value of $2,238,035.60. Following the completion of the transaction, the chief executive officer owned 325,148 shares of the company’s stock, valued at approximately $52,739,005.60. The trade was a 4.07% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Manish H. Bhatia sold 80,000 shares of the business’s stock in a transaction dated Monday, June 30th. The shares were sold at an average price of $123.16, for a total transaction of $9,852,800.00. Following the completion of the transaction, the executive vice president directly owned 275,067 shares of the company’s stock, valued at $33,877,251.72. The trade was a 22.53% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 156,308 shares of company stock worth $19,804,967. Company insiders own 0.30% of the company’s stock.

Micron Technology Price Performance

Shares of NASDAQ MU opened at $157.27 on Friday. The firm has a market capitalization of $176.00 billion, a P/E ratio of 20.72, a PEG ratio of 0.40 and a beta of 1.47. Micron Technology, Inc. has a one year low of $61.54 and a one year high of $170.45. The company’s fifty day moving average is $128.30 and its two-hundred day moving average is $108.11. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.89 and a current ratio of 2.52.

Micron Technology (NASDAQ:MU) last released its quarterly earnings data on Wednesday, June 25th. The semiconductor manufacturer reported $1.91 EPS for the quarter, topping the consensus estimate of $1.57 by $0.34. Micron Technology had a net margin of 22.84% and a return on equity of 17.21%. The business had revenue of $9.30 billion for the quarter, compared to analyst estimates of $8.83 billion. During the same period in the previous year, the firm earned $0.62 EPS. Analysts forecast that Micron Technology, Inc. will post 6.08 EPS for the current fiscal year.

Micron Technology Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 21st. Investors of record on Friday, October 3rd will be paid a $0.115 dividend. The ex-dividend date of this dividend is Friday, October 3rd. This represents a $0.46 annualized dividend and a yield of 0.3%. Micron Technology’s payout ratio is presently 6.06%.

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.