Micron Technology, Inc. (NASDAQ:MU) Stake Lessened by Ballentine Partners LLC

Ballentine Partners LLC decreased its position in shares of Micron Technology, Inc. (NASDAQ:MU) by 4.8% during the 4th quarter, Holdings Channel.com reports. The firm owned 123,448 shares of the semiconductor manufacturer’s stock after selling 6,220 shares during the quarter. Ballentine Partners LLC’s holdings in Micron Technology were worth $10,389,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in MU. Van ECK Associates Corp boosted its position in shares of Micron Technology by 30.6% during the 3rd quarter. Van ECK Associates Corp now owns 10,564,198 shares of the semiconductor manufacturer’s stock valued at $1,109,769,000 after purchasing an additional 2,477,985 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Micron Technology by 21.7% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 11,326,224 shares of the semiconductor manufacturer’s stock valued at $1,174,643,000 after purchasing an additional 2,022,180 shares during the last quarter. State Street Corp boosted its holdings in Micron Technology by 3.1% during the third quarter. State Street Corp now owns 48,226,710 shares of the semiconductor manufacturer’s stock worth $5,001,592,000 after buying an additional 1,434,568 shares in the last quarter. Worldquant Millennium Advisors LLC grew its position in Micron Technology by 254.4% in the third quarter. Worldquant Millennium Advisors LLC now owns 1,859,416 shares of the semiconductor manufacturer’s stock worth $192,840,000 after buying an additional 1,334,690 shares during the last quarter. Finally, International Assets Investment Management LLC lifted its position in shares of Micron Technology by 1,233.7% during the 3rd quarter. International Assets Investment Management LLC now owns 1,430,619 shares of the semiconductor manufacturer’s stock valued at $145,470,000 after acquiring an additional 1,323,352 shares during the last quarter. 80.84% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Micron Technology

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of Micron Technology stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $85.21, for a total transaction of $416,676.90. Following the sale, the executive vice president now directly owns 181,223 shares of the company’s stock, valued at approximately $15,442,011.83. The trade was a 2.63 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.30% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

MU has been the topic of a number of recent research reports. The Goldman Sachs Group decreased their target price on Micron Technology from $145.00 to $128.00 and set a “buy” rating on the stock in a report on Thursday, December 19th. Cantor Fitzgerald decreased their target price on shares of Micron Technology from $150.00 to $130.00 and set an “overweight” rating for the company in a report on Thursday, December 19th. China Renaissance assumed coverage on shares of Micron Technology in a research report on Monday, October 28th. They issued a “buy” rating and a $148.00 price target for the company. JPMorgan Chase & Co. lowered their price objective on shares of Micron Technology from $180.00 to $145.00 and set an “overweight” rating on the stock in a research report on Thursday, December 19th. Finally, UBS Group reduced their target price on Micron Technology from $135.00 to $125.00 and set a “buy” rating for the company in a report on Thursday, December 19th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-three have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $135.24.

Micron Technology Price Performance

NASDAQ:MU opened at $105.75 on Tuesday. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.72 and a quick ratio of 1.75. Micron Technology, Inc. has a one year low of $79.15 and a one year high of $157.54. The company has a fifty day moving average price of $97.87 and a 200 day moving average price of $102.02. The stock has a market cap of $117.82 billion, a P/E ratio of 30.48 and a beta of 1.18.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings data on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 EPS for the quarter, beating analysts’ consensus estimates of $1.60 by $0.19. Micron Technology had a net margin of 13.34% and a return on equity of 8.32%. The business had revenue of $8.71 billion during the quarter, compared to analyst estimates of $8.71 billion. During the same quarter in the prior year, the business earned ($0.95) earnings per share. The firm’s revenue for the quarter was up 84.3% on a year-over-year basis. Analysts anticipate that Micron Technology, Inc. will post 6.25 earnings per share for the current year.

Micron Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Monday, December 30th were given a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.43%. The ex-dividend date was Monday, December 30th. Micron Technology’s dividend payout ratio is presently 13.26%.

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.