LMR Partners LLP Buys Shares of 116,431 Micron Technology, Inc. (NASDAQ:MU)

by · The Markets Daily

LMR Partners LLP bought a new stake in Micron Technology, Inc. (NASDAQ:MU – Free Report) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 116,431 shares of the semiconductor manufacturer’s stock, valued at approximately $12,075,000.

Several other institutional investors have also recently bought and sold shares of MU. Hobbs Group Advisors LLC bought a new stake in Micron Technology in the 2nd quarter valued at $28,000. Highline Wealth Partners LLC bought a new stake in Micron Technology in the 3rd quarter valued at $26,000. Richard W. Paul & Associates LLC raised its stake in Micron Technology by 128.6% in the 2nd quarter. Richard W. Paul & Associates LLC now owns 256 shares of the semiconductor manufacturer’s stock valued at $34,000 after acquiring an additional 144 shares during the period. LRI Investments LLC raised its stake in Micron Technology by 57.2% in the 2nd quarter. LRI Investments LLC now owns 272 shares of the semiconductor manufacturer’s stock valued at $36,000 after acquiring an additional 99 shares during the period. Finally, Davis Capital Management bought a new stake in Micron Technology in the 3rd quarter valued at $30,000. Institutional investors own 80.84% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on MU. UBS Group decreased their price objective on Micron Technology from $153.00 to $135.00 and set a “buy” rating on the stock in a report on Tuesday, September 17th. TD Cowen raised their price target on Micron Technology from $115.00 to $135.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. Morgan Stanley raised their price target on Micron Technology from $100.00 to $114.00 and gave the stock an “equal weight” rating in a research report on Thursday, September 26th. Robert W. Baird decreased their price target on Micron Technology from $172.00 to $150.00 and set an “outperform” rating on the stock in a research report on Friday, September 27th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $150.00 target price on shares of Micron Technology in a research report on Tuesday, October 1st. One analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-six have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $143.04.

View Our Latest Stock Report on Micron Technology

Micron Technology Trading Down 2.9 %

Shares of Micron Technology stock opened at $96.34 on Monday. The stock has a fifty day simple moving average of $101.33 and a 200 day simple moving average of $112.74. Micron Technology, Inc. has a 12-month low of $72.93 and a 12-month high of $157.54. The company has a market capitalization of $106.82 billion, a P/E ratio of 141.68 and a beta of 1.18. The company has a current ratio of 2.64, a quick ratio of 1.68 and a debt-to-equity ratio of 0.29.

Micron Technology (NASDAQ:MU – Get Free Report) last announced its quarterly earnings results on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.97 by $0.21. Micron Technology had a return on equity of 1.58% and a net margin of 3.10%. The business had revenue of $7.75 billion during the quarter, compared to the consensus estimate of $7.65 billion. During the same quarter in the prior year, the company posted ($1.21) earnings per share. Micron Technology’s revenue was up 93.3% compared to the same quarter last year. On average, sell-side analysts anticipate that Micron Technology, Inc. will post 8.31 earnings per share for the current fiscal year.

Micron Technology Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 23rd. Stockholders of record on Monday, October 7th were given a dividend of $0.115 per share. The ex-dividend date was Monday, October 7th. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.48%. Micron Technology’s dividend payout ratio is presently 67.65%.

Insider Activity

In related news, EVP April S. Arnzen sold 4,890 shares of the stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $113.00, for a total transaction of $552,570.00. Following the sale, the executive vice president now owns 135,830 shares of the company’s stock, valued at approximately $15,348,790. This represents a 3.47 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.32% of the company’s stock.

Micron Technology Profile

(Free Report)

Micron Technology, Inc designs, develops, manufactures, and sells memory and storage products worldwide. The company operates through four segments: Compute and Networking Business Unit, Mobile Business Unit, Embedded Business Unit, and Storage Business Unit. It provides memory and storage technologies comprising dynamic random access memory semiconductor devices with low latency that provide high-speed data retrieval; non-volatile and re-writeable semiconductor storage devices; and non-volatile re-writable semiconductor memory devices that provide fast read speeds under the Micron and Crucial brands, as well as through private labels.

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