Micron Technology, Inc. (NASDAQ:MU) Shares Acquired by Metis Global Partners LLC

by · The Markets Daily

Metis Global Partners LLC boosted its holdings in Micron Technology, Inc. (NASDAQ:MU – Free Report) by 0.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 42,036 shares of the semiconductor manufacturer’s stock after purchasing an additional 346 shares during the quarter. Metis Global Partners LLC’s holdings in Micron Technology were worth $4,360,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Nwam LLC grew its stake in Micron Technology by 50.0% during the 1st quarter. Nwam LLC now owns 9,604 shares of the semiconductor manufacturer’s stock worth $1,144,000 after buying an additional 3,202 shares during the last quarter. Banco Santander S.A. increased its holdings in shares of Micron Technology by 96.2% in the 1st quarter. Banco Santander S.A. now owns 94,799 shares of the semiconductor manufacturer’s stock worth $11,176,000 after acquiring an additional 46,488 shares during the period. M&G Plc bought a new stake in Micron Technology in the 1st quarter valued at about $15,172,000. Intech Investment Management LLC boosted its stake in Micron Technology by 6.5% during the 1st quarter. Intech Investment Management LLC now owns 44,025 shares of the semiconductor manufacturer’s stock valued at $5,190,000 after purchasing an additional 2,701 shares during the period. Finally, Alera Investment Advisors LLC acquired a new position in Micron Technology during the 1st quarter valued at about $258,000. Institutional investors own 80.84% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. UBS Group reduced their price target on Micron Technology from $153.00 to $135.00 and set a “buy” rating for the company in a research report on Tuesday, September 17th. Needham & Company LLC reiterated a “buy” rating and issued a $140.00 target price on shares of Micron Technology in a research report on Thursday, September 26th. Bank of America boosted their price target on shares of Micron Technology from $110.00 to $125.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. TD Cowen increased their price objective on shares of Micron Technology from $115.00 to $135.00 and gave the company a “buy” rating in a report on Thursday, September 26th. Finally, Rosenblatt Securities boosted their target price on Micron Technology from $225.00 to $250.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-six have issued a buy rating to the stock. According to data from MarketBeat, Micron Technology currently has an average rating of “Moderate Buy” and a consensus target price of $143.04.

Get Our Latest Stock Report on MU

Micron Technology Stock Down 0.7 %

Shares of MU stock opened at $99.18 on Friday. The stock’s 50 day simple moving average is $100.93 and its 200 day simple moving average is $112.94. Micron Technology, Inc. has a twelve month low of $72.93 and a twelve month high of $157.54. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.68 and a current ratio of 2.64. The company has a market capitalization of $109.96 billion, a price-to-earnings ratio of 145.86 and a beta of 1.18.

Micron Technology (NASDAQ:MU – Get Free Report) last released its earnings results on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 earnings per share for the quarter, topping analysts’ consensus estimates of $0.97 by $0.21. The firm had revenue of $7.75 billion during the quarter, compared to analyst estimates of $7.65 billion. Micron Technology had a net margin of 3.10% and a return on equity of 1.58%. The business’s revenue was up 93.3% on a year-over-year basis. During the same quarter in the previous year, the business earned ($1.21) EPS. As a group, research analysts predict that Micron Technology, Inc. will post 8.31 EPS for the current year.

Micron Technology Announces Dividend

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

Insider Transactions at Micron Technology

In other news, EVP April S. Arnzen sold 4,890 shares of the firm’s stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $113.00, for a total transaction of $552,570.00. Following the completion of the transaction, the executive vice president now directly owns 135,830 shares of the company’s stock, valued at approximately $15,348,790. This trade represents a 3.47 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.32% of the company’s stock.

About Micron Technology

(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.

Featured Articles

Want to see what other hedge funds are holding MU? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Micron Technology, Inc. (NASDAQ:MU – Free Report).