Micron Technology, Inc. (NASDAQ:MU) Holdings Decreased by Global Retirement Partners LLC

Global Retirement Partners LLC reduced its stake in shares of Micron Technology, Inc. (NASDAQ:MU) by 8.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 19,011 shares of the semiconductor manufacturer’s stock after selling 1,672 shares during the quarter. Global Retirement Partners LLC’s holdings in Micron Technology were worth $1,972,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Clearbridge Investments LLC grew its stake in Micron Technology by 1.1% during the 1st quarter. Clearbridge Investments LLC now owns 1,931,811 shares of the semiconductor manufacturer’s stock worth $227,741,000 after buying an additional 20,741 shares during the last quarter. Chapin Davis Inc. bought a new position in Micron Technology during the 2nd quarter worth $4,056,000. Handelsbanken Fonder AB boosted its position in Micron Technology by 2.4% during the 3rd quarter. Handelsbanken Fonder AB now owns 434,596 shares of the semiconductor manufacturer’s stock worth $45,072,000 after acquiring an additional 9,992 shares during the period. Norden Group LLC boosted its position in Micron Technology by 1,916.7% during the 1st quarter. Norden Group LLC now owns 50,134 shares of the semiconductor manufacturer’s stock worth $5,910,000 after acquiring an additional 47,648 shares during the period. Finally, Westwood Holdings Group Inc. acquired a new position in Micron Technology during the 1st quarter worth $8,558,000. 80.84% of the stock is currently owned by institutional investors.

Micron Technology Stock Down 0.8 %

NASDAQ:MU opened at $111.15 on Friday. The firm has a market capitalization of $123.25 billion, a price-to-earnings ratio of -78.27 and a beta of 1.18. Micron Technology, Inc. has a 1-year low of $63.88 and a 1-year high of $157.54. 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 business’s fifty day moving average price is $98.64 and its 200 day moving average price is $114.54.

Micron Technology (NASDAQ:MU) last posted its quarterly earnings results on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 earnings per share for the quarter, beating the consensus estimate of $0.97 by $0.21. The firm had revenue of $7.75 billion for the quarter, compared to analyst estimates of $7.65 billion. Micron Technology had a return on equity of 1.58% and a net margin of 3.10%. Micron Technology’s quarterly revenue was up 93.3% on a year-over-year basis. During the same period in the previous year, the firm earned ($1.21) earnings per share. On average, sell-side analysts forecast that Micron Technology, Inc. will post 8.31 earnings per share for the current fiscal year.

Micron Technology Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 23rd. Shareholders of record on Monday, October 7th will be given a $0.115 dividend. This represents a $0.46 annualized dividend and a yield of 0.41%. The ex-dividend date is Monday, October 7th. Micron Technology’s payout ratio is currently -32.39%.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. Raymond James boosted their price target on Micron Technology from $125.00 to $140.00 and gave the stock an “outperform” rating in a research report on Thursday, September 26th. Wedbush reiterated an “outperform” rating and set a $140.00 price target on shares of Micron Technology in a research report on Thursday, September 26th. Bank of America boosted their price target on Micron Technology from $110.00 to $125.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. 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. Finally, BNP Paribas lowered Micron Technology from an “outperform” rating to an “underperform” rating and cut their price objective for the company from $140.00 to $67.00 in a report on Thursday, September 12th. One analyst has rated the stock with a sell rating, two have given a hold rating and twenty-five have given a buy rating to the company. Based on data from MarketBeat.com, Micron Technology currently has a consensus rating of “Moderate Buy” and an average price target 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 dated Thursday, September 26th. The stock was sold at an average price of $113.00, for a total value of $552,570.00. Following the transaction, the executive vice president now directly owns 135,830 shares of the company’s stock, valued at $15,348,790. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.32% of the company’s stock.

Micron Technology 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.