Choreo LLC Reduces Micron Technology Holdings by 79.1%

Choreo LLC has significantly reduced its stake in Micron Technology, Inc. (NASDAQ:MU - Free Report) during the 4th quarter of the year. According to the most recent report filed with the Securities and Exchange Commission, the firm decreased its holdings by 79.1%, bringing its total ownership to 26,902 shares after selling 102,059 shares in the period. At the close of the most recent quarter, Choreo LLC's investment in Micron Technology was valued at approximately $2,287,000.

In addition to Choreo LLC's action, other institutional investors have also made changes to their holdings in Micron Technology. For instance, Highline Wealth Partners LLC acquired a new stake valued around $26,000 during the third quarter. Furthermore, True Wealth Design LLC saw a tremendous increase of 1,096.3% in its holdings during the same period. After adding 296 shares, they now own 323 shares worth about $33,000.

Similar increases in ownership were observed by DT Investment Partners LLC and Stone House Investment Management LLC, which boosted their stakes by 261.1% and 602.2%, respectively. Darwin Wealth Management LLC also entered into a new investment in Micron Technology during the third quarter, valued at approximately $39,000. Overall, institutional investors hold about 80.84% of Micron Technology’s stock.

Recent Analyst Ratings

The stock has been the focus of various analyst reports recently. On December 19, JPMorgan Chase & Co. lowered its target price for Micron Technology from $180.00 to $145.00, maintaining an "overweight" rating. Similarly, Wells Fargo & Company adjusted their price target down from $175.00 to $140.00 while keeping an "overweight" rating. On January 28, Morgan Stanley revised their price target from $98.00 to $91.00 and set an "equal weight" rating. In contrast, Rosenblatt Securities reaffirmed a "buy" rating with a price target of $250.00.

Robert W. Baird also adjusted their price target, lowering it from $150.00 to $130.00 while maintaining an "outperform" rating. Among analysts, the stock received one sell rating, three hold ratings, and twenty-three buy ratings. MarketBeat.com reports that the consensus rating is "Moderate Buy" with an average price target of $134.96.

Micron Technology's Current Stock Performance

On Friday, shares of Micron Technology opened at $94.54. The company has a market capitalization of $105.33 billion and a price-to-earnings (P/E) ratio of 27.24, along with a beta of 1.18. Their quick ratio stands at 1.75, with a current ratio of 2.72, and a debt-to-equity ratio of 0.28. Over the past two hundred days, the stock has averaged $99.34, while its fifty-day simple moving average is $96.82. The stock has fluctuated between a twelve-month low of $79.15 and a high of $157.54.

Recent Dividend Declaration

Micron Technology has also announced a quarterly dividend that was paid on January 15. Shareholders who were on record as of December 30 received a dividend payment of $0.115. The ex-dividend date was also December 30. This dividend translates to an annualized yield of 0.49% based on a payout ratio of 13.26%.

Insider Trading Activities

In other news regarding insider transactions at Micron Technology, EVP April S. Arnzen sold 4,890 shares on December 20 at an average price of $85.21, resulting in a total sale of approximately $416,676. Following this sale, the EVP holds 181,223 shares worth about $15,442,011.83, marking a 2.63% decrease in her position. Insider ownership for the company comprises approximately 0.30%.

Company Overview

Micron Technology, Inc. engages in the design, development, manufacturing, and sale of memory and storage products globally. The company operates in four main segments: the Compute and Networking Business Unit, Mobile Business Unit, Embedded Business Unit, and Storage Business Unit. They provide various memory and storage technologies, including semiconductor devices with low latency for high-speed data retrieval and re-writable semiconductor storage devices under the Micron and Crucial brands, along with private labels.

Choreo, Micron, Shares