Micron Technology, Inc. (NASDAQ:MU) Shares Sold by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. lessened its stake in Micron Technology, Inc. (NASDAQ:MU) by 17.8% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 43,922 shares of the semiconductor manufacturer’s stock after selling 9,480 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Micron Technology were worth $4,555,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of MU. Hobbs Group Advisors LLC acquired a new position in Micron Technology in the second quarter worth $28,000. DecisionPoint Financial LLC acquired a new stake in Micron Technology during the first quarter worth about $25,000. Richard W. Paul & Associates LLC lifted its holdings in Micron Technology by 128.6% in the second quarter. Richard W. Paul & Associates LLC now owns 256 shares of the semiconductor manufacturer’s stock worth $34,000 after acquiring an additional 144 shares during the last quarter. LRI Investments LLC grew its holdings in shares of Micron Technology by 57.2% during the second quarter. LRI Investments LLC now owns 272 shares of the semiconductor manufacturer’s stock valued at $36,000 after purchasing an additional 99 shares during the last quarter. Finally, Davis Capital Management acquired a new stake in shares of Micron Technology during the 3rd quarter worth approximately $30,000. Institutional investors own 80.84% of the company’s stock.

Insider Buying and Selling

In other 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 completion of the transaction, the executive vice president now directly owns 135,830 shares in the company, valued at approximately $15,348,790. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.32% of the stock is owned by company insiders.

Micron Technology Price Performance

Shares of MU opened at $108.18 on Wednesday. The business has a 50-day moving average of $99.18 and a 200-day moving average of $113.58. Micron Technology, Inc. has a 1 year low of $65.17 and a 1 year high of $157.54. The company has a market capitalization of $119.95 billion, a price-to-earnings ratio of -76.18 and a beta of 1.18. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.64 and a quick ratio of 1.68.

Micron Technology (NASDAQ:MU) last announced its earnings results on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.97 by $0.21. The company had revenue of $7.75 billion for the quarter, compared to analysts’ expectations 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 quarter in the previous year, the firm earned ($1.21) earnings per share. As a group, equities research analysts anticipate that Micron Technology, Inc. will post 8.31 earnings per share for the current year.

Micron Technology Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 23rd. Stockholders of record on Monday, October 7th were given a $0.115 dividend. This represents a $0.46 annualized dividend and a dividend yield of 0.43%. The ex-dividend date of this dividend was Monday, October 7th. Micron Technology’s dividend payout ratio (DPR) is presently -32.39%.

Analysts Set New Price Targets

Several brokerages have weighed in on MU. TD Cowen increased their target price on Micron Technology from $115.00 to $135.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. Raymond James lifted their price objective on shares of Micron Technology from $125.00 to $140.00 and gave the company an “outperform” rating in a research report on Thursday, September 26th. Bank of America increased their price target on Micron Technology from $110.00 to $125.00 and gave the stock a “buy” rating in a research note on Thursday, September 26th. Morgan Stanley boosted their target price on Micron Technology from $100.00 to $114.00 and gave the stock an “equal weight” rating in a report on Thursday, September 26th. Finally, Stifel Nicolaus lowered their price objective on shares of Micron Technology from $165.00 to $135.00 and set a “buy” rating on the stock in a research note on Thursday, September 19th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $143.04.

About Micron Technology

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.