XTX Topco Ltd Sells 1,569 Shares of Micron Technology, Inc. (NASDAQ:MU)

XTX Topco Ltd decreased its stake in shares of Micron Technology, Inc. (NASDAQ:MU) by 26.6% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 4,319 shares of the semiconductor manufacturer’s stock after selling 1,569 shares during the quarter. XTX Topco Ltd’s holdings in Micron Technology were worth $568,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. TrinityPoint Wealth LLC lifted its position in Micron Technology by 33.9% during the fourth quarter. TrinityPoint Wealth LLC now owns 34,540 shares of the semiconductor manufacturer’s stock valued at $2,948,000 after purchasing an additional 8,736 shares during the last quarter. SageView Advisory Group LLC bought a new position in Micron Technology during the fourth quarter valued at $587,000. Orion Portfolio Solutions LLC lifted its position in Micron Technology by 9.9% during the fourth quarter. Orion Portfolio Solutions LLC now owns 61,749 shares of the semiconductor manufacturer’s stock valued at $5,246,000 after purchasing an additional 5,576 shares during the last quarter. United Services Automobile Association raised its stake in shares of Micron Technology by 9.5% in the fourth quarter. United Services Automobile Association now owns 31,446 shares of the semiconductor manufacturer’s stock valued at $2,684,000 after acquiring an additional 2,723 shares during the period. Finally, 3Chopt Investment Partners LLC purchased a new stake in shares of Micron Technology in the fourth quarter valued at $427,000. Institutional investors own 80.84% of the company’s stock.

Analyst Upgrades and Downgrades

MU has been the topic of several recent analyst reports. Wolfe Research increased their target price on shares of Micron Technology from $150.00 to $200.00 and gave the company an “outperform” rating in a research note on Friday, June 21st. Piper Sandler increased their target price on shares of Micron Technology from $130.00 to $150.00 and gave the company an “overweight” rating in a research note on Thursday, June 27th. Stifel Nicolaus reduced their target price on shares of Micron Technology from $165.00 to $135.00 and set a “buy” rating on the stock in a research note on Thursday, September 19th. Wedbush reaffirmed an “outperform” rating and issued a $170.00 price target on shares of Micron Technology in a research note on Thursday, June 27th. Finally, Wells Fargo & Company reduced their price target on shares of Micron Technology from $190.00 to $175.00 and set an “overweight” rating on the stock in a research note on Wednesday, September 18th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-five have given a buy rating to the stock. Based on data from MarketBeat, Micron Technology currently has a consensus rating of “Moderate Buy” and an average price target of $145.65.

Micron Technology Stock Up 2.9 %

NASDAQ:MU opened at $93.57 on Tuesday. Micron Technology, Inc. has a fifty-two week low of $63.83 and a fifty-two week high of $157.54. The stock has a market capitalization of $103.75 billion, a P/E ratio of -65.89 and a beta of 1.17. 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 company’s 50-day simple moving average is $99.06 and its 200-day simple moving average is $114.79.

Micron Technology (NASDAQ:MU) last released 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. Micron Technology had a negative net margin of 7.20% and a negative return on equity of 4.01%. The business had revenue of $6.81 billion for the quarter, compared to analysts’ expectations of $6.67 billion. During the same period last year, the business earned ($1.57) EPS. The company’s revenue was up 81.5% compared to the same quarter last year. On average, equities analysts anticipate that Micron Technology, Inc. will post 0.61 earnings per share for the current fiscal year.

Micron Technology Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 23rd. Investors of record on Monday, July 8th were paid a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a yield of 0.49%. The ex-dividend date of this dividend was Monday, July 8th. Micron Technology’s dividend payout ratio (DPR) is presently -32.39%.

Insider Buying and Selling

In related news, EVP April S. Arnzen sold 4,890 shares of Micron Technology stock in a transaction that occurred on Thursday, June 27th. The shares were sold at an average price of $135.86, for a total value of $664,355.40. Following the completion of the sale, the executive vice president now directly owns 142,321 shares in the company, valued at approximately $19,335,731.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.32% of the stock is owned by company insiders.

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.