Micron Technology, Inc. (NASDAQ:MU) Shares Sold by Cable Hill Partners LLC

Cable Hill Partners LLC trimmed its position in Micron Technology, Inc. (NASDAQ:MU) by 5.6% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,754 shares of the semiconductor manufacturer’s stock after selling 164 shares during the period. Cable Hill Partners LLC’s holdings in Micron Technology were worth $286,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in MU. Nwam LLC increased its position in shares of Micron Technology by 50.0% in the 1st quarter. Nwam LLC now owns 9,604 shares of the semiconductor manufacturer’s stock valued at $1,144,000 after acquiring an additional 3,202 shares during the period. Banco Santander S.A. grew its position in Micron Technology by 96.2% during the 1st quarter. Banco Santander S.A. now owns 94,799 shares of the semiconductor manufacturer’s stock worth $11,176,000 after purchasing an additional 46,488 shares during the period. M&G Plc acquired a new stake in Micron Technology during the 1st quarter worth about $15,172,000. Intech Investment Management LLC grew its position in Micron Technology by 6.5% during the 1st quarter. Intech Investment Management LLC now owns 44,025 shares of the semiconductor manufacturer’s stock worth $5,190,000 after purchasing an additional 2,701 shares during the period. Finally, Alera Investment Advisors LLC acquired a new stake in Micron Technology during the 1st quarter worth about $258,000. 80.84% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Micron Technology

In related news, EVP April S. Arnzen sold 4,890 shares of the stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $113.00, for a total transaction of $552,570.00. Following the sale, the executive vice president now owns 135,830 shares in the company, valued at $15,348,790. This represents a 3.47 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.32% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Rosenblatt Securities increased their price target on Micron Technology from $225.00 to $250.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. KeyCorp dropped their target price on Micron Technology from $145.00 to $135.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 8th. TD Cowen raised their target price on Micron Technology from $115.00 to $135.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. BNP Paribas cut Micron Technology from an “outperform” rating to an “underperform” rating and dropped their target price for the company from $140.00 to $67.00 in a research report on Thursday, September 12th. Finally, UBS Group dropped their target price on Micron Technology from $153.00 to $135.00 and set a “buy” rating on the stock in a research report on Tuesday, September 17th. One research analyst has rated the stock with a sell rating, two have given a hold rating and twenty-six have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $143.04.

Micron Technology Trading Down 0.7 %

Shares of Micron Technology stock opened at $99.18 on Friday. Micron Technology, Inc. has a 52-week low of $72.93 and a 52-week high of $157.54. 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’s 50-day simple moving average is $100.93 and its 200-day simple moving average is $112.94. The firm has a market cap of $109.96 billion, a price-to-earnings ratio of 145.86 and a beta of 1.18.

Micron Technology (NASDAQ:MU) last issued its earnings results on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 earnings per share for the quarter, topping the consensus estimate of $0.97 by $0.21. The company had revenue of $7.75 billion for the quarter, compared to analyst estimates of $7.65 billion. Micron Technology had a net margin of 3.10% and a return on equity of 1.58%. The firm’s revenue for the quarter was up 93.3% compared to the same quarter last year. During the same period in the prior year, the business posted ($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 firm also recently disclosed 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 0.46%. The ex-dividend date of this dividend was Monday, October 7th. Micron Technology’s payout ratio is currently 67.65%.

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.