AEGON ASSET MANAGEMENT UK Plc Has $45.06 Million Stake in Micron Technology, Inc. (NASDAQ:MU)

AEGON ASSET MANAGEMENT UK Plc cut its stake in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) by 7.4% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 434,561 shares of the semiconductor manufacturer's stock after selling 34,656 shares during the period. AEGON ASSET MANAGEMENT UK Plc's holdings in Micron Technology were worth $45,064,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Highline Wealth Partners LLC acquired a new position in Micron Technology during the third quarter valued at $26,000. Hobbs Group Advisors LLC acquired a new position in Micron Technology during the second quarter valued at $28,000. Davis Capital Management acquired a new position in Micron Technology during the third quarter valued at $30,000. Richard W. Paul & Associates LLC raised its position 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 valued at $34,000 after buying an additional 144 shares during the period. Finally, DT Investment Partners LLC raised its position in 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 buying an additional 235 shares during the period. 80.84% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. BNP Paribas lowered Micron Technology from an "outperform" rating to an "underperform" rating and dropped their target price for the stock from $140.00 to $67.00 in a research report on Thursday, September 12th. Wells Fargo & Company dropped their target price on Micron Technology from $190.00 to $175.00 and set an "overweight" rating on the stock in a research report on Wednesday, September 18th. Susquehanna dropped their target price on Micron Technology from $175.00 to $165.00 and set a "positive" rating on the stock in a research report on Thursday, September 26th. Morgan Stanley increased their price objective on Micron Technology from $100.00 to $114.00 and gave the company an "equal weight" rating in a report on Thursday, September 26th. Finally, TD Cowen raised their price objective on Micron Technology from $115.00 to $135.00 and gave the company a "buy" rating in a research note on Thursday, September 26th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-six have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Micron Technology has an average rating of "Moderate Buy" and a consensus target price of $143.04.

Micron Technology Price Performance

MU stock traded down $1.51 during trading on Friday, hitting $111.90. The company had a trading volume of 13,045,721 shares, compared to its average volume of 17,080,670. The company has a fifty day moving average price of $100.16 and a two-hundred day moving average price of $113.12. The company has a current ratio of 2.64, a quick ratio of 1.68 and a debt-to-equity ratio of 0.29. The company has a market cap of $124.07 billion, a P/E ratio of 164.56 and a beta of 1.18. Micron Technology, Inc. has a fifty-two week low of $72.93 and a fifty-two week high of $157.54.

Micron Technology (NASDAQ:MU - Get Free Report) last issued its quarterly earnings data on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 earnings per share (EPS) for the quarter, beating the consensus estimate 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 the consensus estimate of $7.65 billion. During the same quarter in the previous year, the company posted ($1.21) EPS. The business's revenue for the quarter was up 93.3% compared to the same quarter last year. Equities research analysts expect that Micron Technology, Inc. will post 8.31 earnings per share for the current fiscal year.

Micron Technology Announces Dividend

The company also recently announced 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 0.41%. Micron Technology's payout ratio is currently 67.65%.

Insider Transactions at Micron Technology

In other news, EVP April S. Arnzen sold 4,890 shares of the business's stock in a transaction on Thursday, September 26th. The stock was sold at an average price of $113.00, for a total transaction of $552,570.00. Following the completion of the sale, the executive vice president now owns 135,830 shares in the company, valued at $15,348,790. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.32% of the stock is currently owned by corporate insiders.

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.