Micron Technology, Inc. (NASDAQ:MU) Shares Sold by Segment Wealth Management LLC

Segment Wealth Management LLC lessened its stake in shares of Micron Technology, Inc. (NASDAQ:MU) by 20.0% during the third quarter, HoldingsChannel reports. The firm owned 7,656 shares of the semiconductor manufacturer’s stock after selling 1,915 shares during the period. Segment Wealth Management LLC’s holdings in Micron Technology were worth $794,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of MU. Vanguard Group Inc. increased its position in shares of Micron Technology by 1.8% during the first quarter. Vanguard Group Inc. now owns 96,666,590 shares of the semiconductor manufacturer’s stock worth $11,396,024,000 after acquiring an additional 1,681,815 shares during the last quarter. Capital World Investors increased its position in shares of Micron Technology by 6.6% during the first quarter. Capital World Investors now owns 22,748,381 shares of the semiconductor manufacturer’s stock worth $2,681,807,000 after acquiring an additional 1,400,154 shares during the last quarter. Capital International Investors increased its position in shares of Micron Technology by 15.1% during the first quarter. Capital International Investors now owns 18,303,506 shares of the semiconductor manufacturer’s stock worth $2,157,800,000 after acquiring an additional 2,397,885 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Micron Technology by 22.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 18,243,633 shares of the semiconductor manufacturer’s stock worth $2,150,743,000 after acquiring an additional 3,315,988 shares during the last quarter. Finally, Van ECK Associates Corp increased its position in shares of Micron Technology by 6.9% during the second quarter. Van ECK Associates Corp now owns 8,086,213 shares of the semiconductor manufacturer’s stock worth $1,063,580,000 after acquiring an additional 519,641 shares during the last quarter. Institutional investors and hedge funds own 80.84% of the company’s stock.

Analyst Ratings Changes

MU has been the topic of a number of analyst reports. Citigroup dropped their target price on Micron Technology from $175.00 to $150.00 and set a “buy” rating on the stock in a research report on Tuesday, September 17th. Needham & Company LLC reaffirmed a “buy” rating and set a $140.00 target price on shares of Micron Technology in a research report on Thursday, September 26th. Cantor Fitzgerald reissued an “overweight” rating and issued a $150.00 price objective on shares of Micron Technology in a report on Tuesday, October 1st. Susquehanna lowered their price objective on Micron Technology from $175.00 to $165.00 and set a “positive” rating for the company in a report on Thursday, September 26th. Finally, Wells Fargo & Company lowered their price objective on Micron Technology from $190.00 to $175.00 and set an “overweight” rating for the company in a report on Wednesday, September 18th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-five have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $142.85.

Insiders Place Their Bets

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of the company’s stock in a transaction that occurred on Thursday, September 26th. The stock was sold at an average price of $113.00, for a total value of $552,570.00. Following the completion of the sale, the executive vice president now directly owns 135,830 shares in the company, valued at $15,348,790. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.32% of the stock is currently owned by insiders.

Micron Technology Stock Performance

Shares of NASDAQ MU opened at $105.05 on Thursday. The company has a current ratio of 2.64, a quick ratio of 1.68 and a debt-to-equity ratio of 0.29. The stock has a 50 day simple moving average of $99.23 and a 200-day simple moving average of $114.10. The company has a market cap of $116.48 billion, a PE ratio of -73.98 and a beta of 1.18. Micron Technology, Inc. has a 12-month low of $63.88 and a 12-month high of $157.54.

Micron Technology (NASDAQ:MU) last issued its quarterly earnings data 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. The business had revenue of $7.75 billion during the quarter, compared to the consensus estimate of $7.65 billion. Micron Technology had a return on equity of 1.58% and a net margin of 3.10%. The business’s revenue was up 93.3% on a year-over-year basis. During the same period in the previous year, the firm posted ($1.21) earnings per share. On average, equities research analysts forecast that Micron Technology, Inc. will post 8.31 EPS for the current year.

Micron Technology Dividend Announcement

The company also recently announced 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 dividend on an annualized basis and a yield of 0.44%. Micron Technology’s dividend payout ratio (DPR) is -32.39%.

Micron Technology Company Profile

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.