BNP PARIBAS ASSET MANAGEMENT Holding S.A. Sells 442,980 Shares of Micron Technology, Inc. (NASDAQ:MU)

BNP PARIBAS ASSET MANAGEMENT Holding S.A. lessened its holdings in Micron Technology, Inc. (NASDAQ:MU) by 32.2% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 932,908 shares of the semiconductor manufacturer’s stock after selling 442,980 shares during the quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. owned 0.08% of Micron Technology worth $96,751,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Bessemer Group Inc. raised its holdings in Micron Technology by 2.8% in the 1st quarter. Bessemer Group Inc. now owns 12,635 shares of the semiconductor manufacturer’s stock valued at $1,489,000 after acquiring an additional 340 shares in the last quarter. EntryPoint Capital LLC acquired a new position in Micron Technology in the first quarter valued at about $41,000. CreativeOne Wealth LLC lifted its position in Micron Technology by 22.3% during the first quarter. CreativeOne Wealth LLC now owns 4,857 shares of the semiconductor manufacturer’s stock worth $573,000 after purchasing an additional 886 shares during the period. EP Wealth Advisors LLC grew its stake in Micron Technology by 16.5% during the first quarter. EP Wealth Advisors LLC now owns 11,662 shares of the semiconductor manufacturer’s stock worth $1,375,000 after buying an additional 1,648 shares in the last quarter. Finally, Axxcess Wealth Management LLC increased its holdings in Micron Technology by 255.0% in the 1st quarter. Axxcess Wealth Management LLC now owns 12,767 shares of the semiconductor manufacturer’s stock valued at $1,505,000 after buying an additional 9,171 shares during the period. 80.84% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

MU has been the subject of a number of recent analyst reports. Bank of America upped their price target on shares of Micron Technology from $110.00 to $125.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. BNP Paribas downgraded Micron Technology from an “outperform” rating to an “underperform” rating and reduced their target price for the company from $140.00 to $67.00 in a report on Thursday, September 12th. Rosenblatt Securities lifted their price target on Micron Technology from $225.00 to $250.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. KeyCorp reduced their price objective on Micron Technology from $145.00 to $135.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 8th. 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 research analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-six have assigned a buy rating to the company. According to MarketBeat, Micron Technology has a consensus rating of “Moderate Buy” and an average target price of $143.04.

Insider Transactions at Micron Technology

In related news, EVP April S. Arnzen sold 4,890 shares of Micron Technology stock in a transaction on Thursday, September 26th. The shares were 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 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 document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.32% of the company’s stock.

Micron Technology Price Performance

Shares of NASDAQ MU opened at $98.37 on Thursday. The company has a quick ratio of 1.68, a current ratio of 2.64 and a debt-to-equity ratio of 0.29. The company has a market capitalization of $109.07 billion, a PE ratio of 144.66 and a beta of 1.18. The firm has a fifty day simple moving average of $101.93 and a 200 day simple moving average of $112.42. Micron Technology, Inc. has a twelve month low of $72.93 and a twelve month high of $157.54.

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

Micron Technology Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 23rd. Shareholders of record on Monday, October 7th were paid a $0.115 dividend. This represents a $0.46 annualized dividend and a yield of 0.47%. The ex-dividend date of this dividend was Monday, October 7th. Micron Technology’s dividend payout ratio (DPR) is currently 67.65%.

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.