Ballentine Partners LLC Lowers Stake in Micron Technology, Inc. (NASDAQ:MU)

Ballentine Partners LLC decreased its stake in shares of Micron Technology, Inc. (NASDAQ:MU) by 0.8% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 129,668 shares of the semiconductor manufacturer’s stock after selling 1,018 shares during the quarter. Ballentine Partners LLC’s holdings in Micron Technology were worth $13,448,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. DecisionPoint Financial LLC purchased a new stake in Micron Technology during the 1st quarter valued at $25,000. Hobbs Group Advisors LLC bought a new position in Micron Technology in the 2nd quarter worth $28,000. Valued Wealth Advisors LLC increased its position in Micron Technology by 230.7% in the first quarter. Valued Wealth Advisors LLC now owns 248 shares of the semiconductor manufacturer’s stock worth $29,000 after buying an additional 173 shares in the last quarter. Davis Capital Management bought a new position in shares of Micron Technology during the 3rd quarter valued at approximately $30,000. Finally, Richard W. Paul & Associates LLC boosted its position in shares of 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 purchasing an additional 144 shares during the period. 80.84% of the stock is owned by institutional investors.

Micron Technology Stock Up 1.4 %

Shares of MU opened at $108.30 on Friday. Micron Technology, Inc. has a one year low of $63.88 and a one year high of $157.54. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.68 and a current ratio of 2.64. The stock has a 50 day moving average price of $99.23 and a 200 day moving average price of $114.10. The stock has a market capitalization of $120.09 billion, a price-to-earnings ratio of -75.25 and a beta of 1.18.

Micron Technology (NASDAQ:MU) last released its quarterly earnings data 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 the consensus estimate of $7.65 billion. Micron Technology had a net margin of 3.10% and a return on equity of 1.58%. Micron Technology’s quarterly revenue was up 93.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($1.21) EPS. Equities research analysts forecast that Micron Technology, Inc. will post 8.31 earnings per share for the current fiscal year.

Micron Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 23rd. Investors of record on Monday, October 7th were issued a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a yield of 0.42%. The ex-dividend date was Monday, October 7th. Micron Technology’s dividend payout ratio is presently -32.39%.

Insider Buying and Selling at Micron Technology

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 shares were sold at an average price of $113.00, for a total value of $552,570.00. Following the transaction, the executive vice president now owns 135,830 shares of the company’s stock, valued at $15,348,790. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Company insiders own 0.32% of the company’s stock.

Analysts Set New Price Targets

MU has been the subject of a number of recent analyst reports. Rosenblatt Securities upped their price objective on Micron Technology from $225.00 to $250.00 and gave the stock a “buy” rating in a research note on Thursday, September 26th. KeyCorp dropped their price objective on shares of Micron Technology from $145.00 to $135.00 and set an “overweight” rating for the company in a report on Tuesday, October 8th. Citigroup decreased their price objective on Micron Technology from $175.00 to $150.00 and set a “buy” rating on the stock in a report on Tuesday, September 17th. Bank of America boosted their price objective on Micron Technology from $110.00 to $125.00 and gave the stock a “buy” rating in a research note on Thursday, September 26th. Finally, Robert W. Baird dropped their target price on Micron Technology from $172.00 to $150.00 and set an “outperform” rating for the company in a report on Friday, September 27th. 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’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $142.85.

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.