Mitchell Capital Management Co. Lowers Stake in Micron Technology
According to recent filings with the Securities and Exchange Commission (SEC), Mitchell Capital Management Co. decreased its holdings in Micron Technology, Inc. (NASDAQ:MU) during the fourth quarter of 2024. The fund reduced its position by 14.1%, selling 8,065 shares of the semiconductor manufacturer’s stock.
At the close of the most recent reporting period, Mitchell Capital Management Co. held 48,967 shares of Micron Technology, valued at approximately $4.12 million. These details are based on the fund’s Form 13F filing.
Other institutional investors have also adjusted their positions in Micron Technology recently. Stonebrook Private Inc. increased its stake by 4.2% in the third quarter, now owning 2,454 shares worth $255,000. Similarly, John G Ullman & Associates Inc. boosted its holdings by 2.5%, and Trivant Custom Portfolio Group LLC increased its stake substantially by 20% during the fourth quarter. PDS Planning Inc and Xcel Wealth Management LLC also increased their positions.
Institutional investors and hedge funds collectively own a significant 80.84% of Micron Technology’s stock.
Insider Transactions
In other company news, April S. Arnzen, Executive Vice President, sold 4,890 shares of Micron Technology on December 20th, 2024, at an average price of $85.21 per share. The total transaction value amounted to $416,676.90. Following this sale, Arnzen directly owns 181,223 shares of the company’s stock, valued at $15.44 million.
Analyst Ratings
Several analysts have recently weighed in on Micron Technology. Some firms have adjusted their target prices, including Stifel Nicolaus, UBS Group, Wells Fargo & Company, Barclays, and Mizuho. The general consensus among analysts is a “Moderate Buy” rating, with an average price target of $134.96, according to MarketBeat data.
Company Performance
On Friday, Micron Technology shares opened at $93.63. The company’s financial health includes a debt-to-equity ratio of 0.28, a current ratio of 2.72, and a quick ratio of 1.75. Micron’s 52-week range is $83.54 to $157.54.
Micron Technology’s most recent quarterly earnings report, released on December 18th, 2024, showed earnings per share (EPS) of $1.79, surpassing the consensus estimate of $1.60. Revenue for the quarter was $8.71 billion, meeting expectations. The company’s revenue increased by 84.3% compared to the same quarter in the previous year. The company also announced a quarterly dividend of $0.115, paid on January 15th, 2025.
