Boston Common Asset Management LLC Reduces Stake in Micron Technology, Inc.

Boston Common Asset Management LLC has reduced its holdings in Micron Technology, Inc. (NASDAQ:MU) by 23.0% during the fourth quarter, as detailed in its latest 13F filing with the Securities and Exchange Commission. Following the sale of 55,480 shares, the firm now owns a total of 185,405 shares of this leading semiconductor manufacturer.

As of the most recent SEC filing, Boston Common Asset Management’s stake in Micron Technology is valued at approximately $15,604,000.

In addition to Boston Common, several other institutional investors have also adjusted their stakes in Micron Technology. For instance, Harmony Asset Management LLC increased its holdings by 75.6% in the third quarter, now owning 11,889 shares valued at $1,233,000 after acquiring 5,120 additional shares. Similarly, Lazard Freres Gestion S.A.S. boosted its position by a significant 241.7%, owning 41,000 shares valued at $4,252,000 following the purchase of 29,000 shares.

Chartwell Investment Partners LLC also enhanced its stake by 26.4%, accumulating 195,115 shares worth $20,236,000 after buying 40,802 more shares in the same quarter. Furthermore, State Street Corp lifted its position by 3.1%, acquiring an additional 1,434,568 shares to bring its total holdings to 48,226,710 shares valued at about $5 billion. Global X Japan Co. Ltd. also increased its stake by 23.1%, now owning 51,832 shares worth $5,375,000. Overall, about 80.84% of Micron Technology’s stock is held by hedge funds and institutional investors.

Wall Street Analysts Forecast Growth

Micron Technology has recently been the subject of various analyst reports. For example, China Renaissance initiated coverage on the stock with a "buy" rating and a price target of $148.00. Meanwhile, JPMorgan Chase & Co. adjusted its target price from $180.00 to $145.00, classifying the stock as "overweight". Stifel Nicolaus revised its price target down from $135.00 to $130.00, also maintaining a "buy" rating.

Bank of America made a more cautious move by downgrading Micron Technology from a "buy" to a "neutral" rating with a reduced price target of $110.00. Conversely, Raymond James increased its price target from $125.00 to $140.00 while giving the stock an "outperform" rating. As it stands, there is a diverse outlook among analysts, with one rating the stock as a sell, three holding, and twenty-three advocating for a buy—resulting in an average rating of "Moderate Buy" and an average price target of $135.24 according to MarketBeat.

Micron Technology Stock Movement

On Friday, NASDAQ MU shares experienced a slight uptick of 0.8%, trading at $103.41, with a total of 3,088,309 shares changing hands against an average volume of 24,792,750. Micron Technology’s market capitalization stands at approximately $115.21 billion, boasting a P/E ratio of 29.80 and a beta of 1.18. Key financial ratios include a quick ratio of 1.75 and a current ratio of 2.72, while its debt-to-equity ratio is 0.28. Historically, Micron has ranged between a 52-week low of $79.15 and a high of $157.54.

Recent Earnings Report

In its latest earnings report, released on December 18, Micron Technology reported earnings of $1.79 per share for the quarter, surpassing the analysts' consensus estimate of $1.60 by $0.19. The company achieved a net margin of 13.34% and return on equity of 8.32%, with quarterly revenues of $8.71 billion, which matches analysts' expectations and represents an 84.3% increase compared to the same period last year. Analysts project an EPS of 6.25 for the current year.

Dividend Announcement

Additionally, Micron Technology announced a quarterly dividend, which was paid on January 15. Shareholders on record as of December 30 received a dividend of $0.115, translating to an annualized dividend of $0.46 and a yield of 0.44%. The ex-dividend date was also set for December 30. Micron's dividend payout ratio currently rests at 13.26%.

Insider Trading Movements

In other developments, EVP April S. Arnzen sold 4,890 shares of Micron Technology on December 20 at an average price of $85.21, totaling approximately $416,676.90. Post-sale, Arnzen holds 181,223 shares valued at around $15.44 million. This sale reflects a decrease of 2.63% in her shares. Such transactions were properly disclosed in SEC filings, which are publicly accessible. Company insiders own about 0.30% of the shares in Micron Technology.

About Micron Technology

Micron Technology, Inc. specializes in designing, developing, manufacturing, and selling memory and storage products globally. It is structured into four main business units: Compute and Networking, Mobile, Embedded, and Storage. The product range includes various memory and storage technologies such as dynamic random access memory, non-volatile storage devices, and semiconductor memory devices, marketed under the Micron and Crucial brands and other private labeling.

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