Micron Technology, Inc. (NASDAQ:MU) Shares Sold by Dynamic Technology Lab Private Ltd

Dynamic Technology Lab Private Ltd lessened its stake in Micron Technology, Inc. (NASDAQ:MU) by 21.9% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 26,038 shares of the semiconductor manufacturer’s stock after selling 7,312 shares during the quarter. Dynamic Technology Lab Private Ltd’s holdings in Micron Technology were worth $2,700,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Highline Wealth Partners LLC purchased a new position in Micron Technology in the third quarter valued at $26,000. Hobbs Group Advisors LLC acquired a new position in Micron Technology in the 2nd quarter worth about $28,000. Davis Capital Management acquired a new position in Micron Technology in the 3rd quarter worth about $30,000. Richard W. Paul & Associates LLC boosted its position in Micron Technology by 128.6% during the second quarter. Richard W. Paul & Associates LLC now owns 256 shares of the semiconductor manufacturer’s stock worth $34,000 after purchasing an additional 144 shares in the last quarter. Finally, DT Investment Partners LLC grew its holdings in Micron Technology by 261.1% in the third quarter. DT Investment Partners LLC now owns 325 shares of the semiconductor manufacturer’s stock valued at $34,000 after purchasing an additional 235 shares during the period. Hedge funds and other institutional investors own 80.84% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on MU. Stifel Nicolaus dropped their target price on shares of Micron Technology from $165.00 to $135.00 and set a “buy” rating on the stock in a research report on Thursday, September 19th. Robert W. Baird cut their price objective on Micron Technology from $172.00 to $150.00 and set an “outperform” rating for the company in a research note on Friday, September 27th. China Renaissance started coverage on Micron Technology in a research report on Monday, October 28th. They issued a “buy” rating and a $148.00 target price on the stock. 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. Finally, TD Cowen increased their price objective on Micron Technology from $115.00 to $135.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. One equities 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’s stock. According to MarketBeat, Micron Technology presently has a consensus rating of “Moderate Buy” and a consensus price target of $143.04.

Insider Buying and Selling at Micron Technology

In related news, EVP April S. Arnzen sold 4,890 shares of the firm’s stock in a transaction that occurred 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 sale, the executive vice president now owns 135,830 shares of the company’s stock, valued at $15,348,790. This trade represents a 3.47 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.32% of the stock is currently owned by corporate insiders.

Micron Technology Stock Down 0.1 %

Shares of NASDAQ MU opened at $102.64 on Monday. 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 business’s 50 day moving average is $102.46 and its two-hundred day moving average is $112.13. Micron Technology, Inc. has a 52-week low of $72.93 and a 52-week high of $157.54. The firm has a market cap of $113.80 billion, a price-to-earnings ratio of 150.94 and a beta of 1.18.

Micron Technology (NASDAQ:MU) last announced its earnings results on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 EPS for the quarter, beating analysts’ consensus estimates of $0.97 by $0.21. The company had revenue of $7.75 billion during 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 revenue for the quarter was up 93.3% on a year-over-year basis. During the same period last year, the business posted ($1.21) EPS. Research analysts predict that Micron Technology, Inc. will post 8.31 EPS for the current year.

Micron Technology Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 23rd. Shareholders of record on Monday, October 7th were issued a dividend of $0.115 per share. The ex-dividend date of this dividend was Monday, October 7th. This represents a $0.46 dividend on an annualized basis and a yield of 0.45%. Micron Technology’s dividend payout ratio (DPR) is presently 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.