Dai ichi Life Insurance Company Ltd Sells 21,641 Shares of Micron Technology, Inc. (NASDAQ:MU)

Dai ichi Life Insurance Company Ltd decreased its stake in shares of Micron Technology, Inc. (NASDAQ:MU) by 24.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 65,159 shares of the semiconductor manufacturer’s stock after selling 21,641 shares during the period. Dai ichi Life Insurance Company Ltd’s holdings in Micron Technology were worth $6,758,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Hobbs Group Advisors LLC bought a new stake in shares of Micron Technology during the 2nd quarter valued at about $28,000. Highline Wealth Partners LLC bought a new stake in Micron Technology during the third quarter worth about $26,000. Richard W. Paul & Associates LLC boosted its stake 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 acquiring an additional 144 shares in the last quarter. LRI Investments LLC boosted its stake in Micron Technology by 57.2% during the second quarter. LRI Investments LLC now owns 272 shares of the semiconductor manufacturer’s stock worth $36,000 after acquiring an additional 99 shares in the last quarter. Finally, Davis Capital Management bought a new stake in Micron Technology during the third quarter worth about $30,000. Institutional investors own 80.84% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. Morgan Stanley boosted their price objective on shares of Micron Technology from $100.00 to $114.00 and gave the stock an “equal weight” rating in a research note on Thursday, September 26th. Citigroup dropped their price objective on shares of Micron Technology from $175.00 to $150.00 and set a “buy” rating on the stock in a research note on Tuesday, September 17th. KeyCorp dropped their price objective on shares of Micron Technology from $145.00 to $135.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 8th. Susquehanna dropped their target price on shares of Micron Technology from $175.00 to $165.00 and set a “positive” rating on the stock in a research note on Thursday, September 26th. Finally, 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 note on Thursday, September 19th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-six have given a buy rating to the company’s stock. According to MarketBeat.com, Micron Technology presently has a consensus rating of “Moderate Buy” and a consensus price target of $143.04.

Insider Activity at Micron Technology

In related news, EVP April S. Arnzen sold 4,890 shares of the 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 completion of the sale, the executive vice president now directly owns 135,830 shares of the company’s stock, valued at approximately $15,348,790. This represents a 3.47 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.32% of the stock is currently owned by corporate insiders.

Micron Technology Stock Down 2.6 %

MU opened at $101.80 on Wednesday. The firm’s 50 day simple moving average is $103.07 and its two-hundred day simple moving average is $111.90. The company has a market capitalization of $112.87 billion, a PE ratio of 149.71 and a beta of 1.18. Micron Technology, Inc. has a 1-year low of $72.93 and a 1-year high of $157.54. The company has a current ratio of 2.64, a quick ratio of 1.68 and a debt-to-equity ratio of 0.29.

Micron Technology (NASDAQ:MU) last announced its earnings results on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 EPS for the quarter, topping analysts’ consensus estimates 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 revenue for the quarter was up 93.3% compared to the same quarter last year. During the same period last year, the firm earned ($1.21) EPS. As a group, equities analysts forecast that Micron Technology, Inc. will post 8.31 EPS for the current year.

Micron Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 23rd. Stockholders of record on Monday, October 7th were given 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 dividend yield of 0.45%. Micron Technology’s payout ratio is currently 67.65%.

Micron Technology 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.