Choreo LLC Reduces Stake in Micron Technology, Inc.

Choreo LLC has significantly decreased its stake in Micron Technology, Inc. (NASDAQ:MU - Free Report), selling 102,059 shares during the 4th quarter, which translates to a 79.1% reduction in its holdings. Following this sale, the firm holds 26,902 shares of Micron Technology, valued at approximately $2,287,000 at the close of the last quarter.

Recent Changes in Holdings

Other institutional investors have also adjusted their positions in Micron Technology recently. Highline Wealth Partners LLC made a new investment during the 3rd quarter worth around $26,000. Meanwhile, True Wealth Design LLC dramatically increased its holdings in Micron Technology by over 1,096.3%, acquiring a total of 323 shares valued at $33,000 after adding 296 shares. DT Investment Partners LLC also ramped up its investments, increasing its stake by 261.1% and now owns 325 shares worth $34,000 after buying 235 additional shares.

Stone House Investment Management LLC raised its stake by about 602.2%, bringing its holdings to 323 shares, which are valued at $34,000 following the acquisition of 277 shares. Lastly, Darwin Wealth Management LLC established a new position in Micron Technology worth approximately $39,000. Notably, institutional investors collectively hold 80.84% of the total shares in the company.

Analyst Consensus

Numerous analysts have reviewed Micron Technology recently. On December 19th, JPMorgan Chase & Co. revised their target price from $180.00 to $145.00 while maintaining an "overweight" rating. Similarly, Wells Fargo & Company also lowered their target price from $175.00 to $140.00 with an "overweight" designation. Morgan Stanley adjusted their estimate from $98.00 to $91.00, maintaining an "equal weight" rating. On the other hand, Rosenblatt Securities reaffirmed a "buy" rating, estimating a price target of $250.00, while Robert W. Baird cut their target from $150.00 to $130.00, still rating the stock as "outperform." Among analysts, one has a sell rating, three suggest holding, and twenty-three recommend buying the stock. Current consensus places Micron Technology with a "Moderate Buy" rating and an average target price of $134.96.

Micron Technology's Stock Performance

As of Friday, shares of Micron Technology (MU) opened at $94.54, with a market capitalization of $105.33 billion, a P/E ratio of 27.24, and a beta of 1.18. The company's liquidity metrics include a quick ratio of 1.75 and a current ratio of 2.72, alongside a debt-to-equity ratio of 0.28. Over the past year, the company's stock has fluctuated between a low of $79.15 and a high of $157.54.

Latest Earnings Report

Micron Technology last released its quarterly earnings on December 18th. The company reported an earnings per share (EPS) of $1.79, exceeding analyst predictions of $1.60 by $0.19. They achieved a net margin of 13.34% and a return on equity of 8.32%. Revenue for the quarter registered at $8.71 billion, aligning with expectations. This represents a substantial increase of 84.3% compared to the same period last year. Analysts forecast that Micron Technology, Inc. is expected to post an EPS of 6.29 for the current year.

Dividend Announcement

Recently, Micron Technology declared a quarterly dividend paid on January 15th. Shareholders who were on record as of December 30th received a dividend of $0.115. The ex-dividend date was also set for December 30th. This indicates an annualized dividend of $0.46, which reflects a dividend yield of 0.49%. The payout ratio for the company stands at 13.26%.

Insider Transactions

In other news relevant to Micron Technology, EVP April S. Arnzen sold 4,890 shares of the company’s stock on December 20th at an average price of $85.21, totaling approximately $416,677. Following this transaction, she retains ownership of 181,223 shares valued at about $15,442,012. This sale marks a 2.63% decline in her position. Such transactions are documented in filings made with the Securities & Exchange Commission. Company insiders hold roughly 0.30% of the stock.

Company Overview

Micron Technology, Inc. is engaged in designing, developing, manufacturing, and selling memory and storage products globally. It operates through four main segments: the Compute and Networking Business Unit, Mobile Business Unit, Embedded Business Unit, and Storage Business Unit. The firm specializes in various memory and storage technologies, providing products like dynamic random access memory (DRAM) devices known for low latency and high-speed data retrieval, alongside other semiconductor storage solutions.

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