Micron Technology, Inc. (NASDAQ:MU) Shares Sold by Northwest & Ethical Investments L.P.

Northwest & Ethical Investments L.P. cut its stake in Micron Technology, Inc. (NASDAQ:MU) by 29.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 41,327 shares of the semiconductor manufacturer’s stock after selling 17,317 shares during the period. Northwest & Ethical Investments L.P.’s holdings in Micron Technology were worth $4,286,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Highline Wealth Partners LLC acquired a new position in shares of Micron Technology during the third quarter worth approximately $26,000. Hobbs Group Advisors LLC bought a new stake in Micron Technology during the 2nd quarter valued at $28,000. Davis Capital Management acquired a new position in Micron Technology during the 3rd quarter worth $30,000. Richard W. Paul & Associates LLC grew its stake 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 in the last quarter. Finally, DT Investment Partners LLC increased its holdings in shares of Micron Technology by 261.1% during 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. 80.84% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on MU shares. China Renaissance assumed coverage on shares of Micron Technology in a report on Monday, October 28th. They issued a “buy” rating and a $148.00 price objective for the company. Robert W. Baird decreased their price objective on shares of Micron Technology from $172.00 to $150.00 and set an “outperform” rating for the company in a report on Friday, September 27th. TD Cowen boosted their target price on Micron Technology from $115.00 to $135.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. Morgan Stanley increased their price target on Micron Technology from $100.00 to $114.00 and gave the company an “equal weight” rating in a research note on Thursday, September 26th. Finally, Wedbush reissued an “outperform” rating and issued a $140.00 price objective on shares of Micron Technology in a research note on Thursday, September 26th. One research analyst has rated the stock with a sell rating, two have given a hold rating and twenty-six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $143.04.

Micron Technology Trading Down 3.5 %

Shares of NASDAQ:MU opened at $98.20 on Friday. The firm has a fifty day moving average of $103.46 and a two-hundred day moving average of $111.71. The company has a quick ratio of 1.68, a current ratio of 2.64 and a debt-to-equity ratio of 0.29. Micron Technology, Inc. has a 12-month low of $72.93 and a 12-month high of $157.54. The firm has a market capitalization of $108.88 billion, a P/E ratio of 144.41 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 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 firm had revenue of $7.75 billion during the quarter, compared to analysts’ expectations of $7.65 billion. During the same quarter last year, the firm earned ($1.21) earnings per share. The business’s revenue for the quarter was up 93.3% on a year-over-year basis. On average, equities analysts expect that Micron Technology, Inc. will post 8.31 EPS for the current fiscal 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 paid a $0.115 dividend. This represents a $0.46 dividend on an annualized basis 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 presently 67.65%.

Insiders Place Their Bets

In other news, EVP April S. Arnzen sold 4,890 shares of the stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $113.00, for a total transaction of $552,570.00. Following the transaction, the executive vice president now 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 sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.32% of the company’s stock.

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.