Fintel reports that BlackRock has filed a 13G/A form with the SEC disclosing ownership of 86.06MM shares of Micron Technology, Inc. (MU). This represents 7.9% of the company.
In their previous filing dated March 11, 2022 they reported 84.82MM shares and 7.60% of the company, an increase in shares of 1.47% and an increase in total ownership of 0.30% (calculated as current - previous percent ownership).
Analyst Price Forecast Suggests 3.62% Upside
As of February 2, 2023, the average one-year price target for Micron Technology is $65.46. The forecasts range from a low of $45.45 to a high of $105.00. The average price target represents an increase of 3.62% from its latest reported closing price of $63.17.
The projected annual revenue for Micron Technology is $18,788MM, a decrease of 30.81%. The projected annual EPS is $0.19, a decrease of 96.52%.
Fund Sentiment
There are 2275 funds or institutions reporting positions in Micron Technology. This is a decrease of 50 owner(s) or 2.15%.
Average portfolio weight of all funds dedicated to US:MU is 0.4624%, a decrease of 0.0293%. Total shares owned by institutions decreased in the last three months by 1.56% to 1,017,376K shares.
What are large shareholders doing?
Capital Research Global Investors holds 47,470,260 shares representing 4.35% ownership of the company. In it's prior filing, the firm reported owning 37,981,426 shares, representing an increase of 19.99%. The firm increased its portfolio allocation in MU by 19.48% over the last quarter.
Sanders Capital holds 42,131,053 shares representing 3.86% ownership of the company. In it's prior filing, the firm reported owning 41,940,500 shares, representing an increase of 0.45%. The firm decreased its portfolio allocation in MU by 1.09% over the last quarter.
Primecap Management holds 40,434,127 shares representing 3.71% ownership of the company. In it's prior filing, the firm reported owning 40,420,216 shares, representing an increase of 0.03%. The firm decreased its portfolio allocation in MU by 1.85% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 32,904,366 shares representing 3.02% ownership of the company. In it's prior filing, the firm reported owning 32,883,752 shares, representing an increase of 0.06%. The firm decreased its portfolio allocation in MU by 5.47% over the last quarter.
VFINX - Vanguard 500 Index Fund Investor Shares holds 25,007,395 shares representing 2.29% ownership of the company. In it's prior filing, the firm reported owning 24,717,705 shares, representing an increase of 1.16%. The firm decreased its portfolio allocation in MU by 5.18% over the last quarter.
Micron Technology Declares $0.12 Dividend
Micron Technology said on December 21, 2022 that its board of directors declared a regular quarterly dividend of $0.12 per share ($0.46 annualized). Shareholders of record as of December 30, 2022 received the payment on January 19, 2023. Previously, the company paid $0.12 per share.
At the current share price of $63.17 / share, the stock's dividend yield is 0.73%. Looking back five years and taking a sample every week, the average dividend yield has been 0.64%, the lowest has been 0.42%, and the highest has been 0.94%. The standard deviation of yields is 0.15 (n=69).
The current dividend yield is 0.62 standard deviations above the historical average.
Additionally, the company's dividend payout ratio is 0.08. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
Micron Technology Background Information
(This description is provided by the company.)
It is an industry leader in innovative memory and storage solutions. Through its global brands - Micron® and Crucial® - its broad portfolio of high-performance memory and storage technologies, including DRAM, NAND, 3D XPoint™ memory, and NOR, is transforming how the world uses information to enrich life for all. Backed by more than 40 years of technology leadership, its memory and storage solutions enable disruptive trends, including artificial intelligence, 5G, machine learning, and autonomous vehicles, in key market segments like mobile, data center, client, consumer, industrial, graphics, automotive, and networking.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
