LMR Partners LLP Acquires New Stake in Micron Technology, Inc. (NASDAQ:MU)

LMR Partners LLP purchased a new stake in Micron Technology, Inc. (NASDAQ:MU - Free Report) during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 116,431 shares of the semiconductor manufacturer's stock, valued at approximately $12,075,000.

Several other institutional investors have also recently added to or reduced their stakes in MU. 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 acquired a new position in shares of Micron Technology during the second quarter worth approximately $28,000. Davis Capital Management acquired a new position in shares of Micron Technology during the third quarter worth approximately $30,000. Richard W. Paul & Associates LLC raised its position in Micron Technology by 128.6% in the 2nd 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 last quarter. Finally, DT Investment Partners LLC raised its position in Micron Technology by 261.1% in the 3rd 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 last quarter. 80.84% of the stock is owned by institutional investors and hedge funds.

Micron Technology Price Performance

NASDAQ MU traded up $1.27 during trading hours on Monday, hitting $97.61. The company had a trading volume of 8,996,787 shares, compared to its average volume of 21,621,834. The firm has a market capitalization of $108.22 billion, a price-to-earnings ratio of 142.83 and a beta of 1.18. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.68 and a current ratio of 2.64. The firm has a 50 day simple moving average of $101.33 and a 200 day simple moving average of $112.74. Micron Technology, Inc. has a 52 week low of $72.93 and a 52 week high of $157.54.

Micron Technology (NASDAQ:MU - Get Free Report) last released its earnings results on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 earnings per share for the quarter, topping analysts' consensus estimates of $0.97 by $0.21. The company had revenue of $7.75 billion during the quarter, compared to the consensus estimate of $7.65 billion. Micron Technology had a return on equity of 1.58% and a net margin of 3.10%. Micron Technology's quarterly revenue was up 93.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($1.21) EPS. Equities research analysts expect that Micron Technology, Inc. will post 8.31 earnings per share for the current year.

Micron Technology Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 23rd. Shareholders of record on Monday, October 7th were paid a $0.115 dividend. The ex-dividend date was Monday, October 7th. This represents a $0.46 dividend on an annualized basis and a yield of 0.47%. Micron Technology's dividend payout ratio (DPR) is currently 67.65%.

Insiders Place Their Bets

In other news, EVP April S. Arnzen sold 4,890 shares of the business's stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 135,830 shares of the company's stock, valued at approximately $15,348,790. The trade was a 3.47 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.32% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on MU. TD Cowen increased their price target on Micron Technology from $115.00 to $135.00 and gave the company a "buy" rating in a research report on Thursday, September 26th. Wells Fargo & Company reduced their price objective on Micron Technology from $190.00 to $175.00 and set an "overweight" rating for the company in a research note on Wednesday, September 18th. Morgan Stanley upped their price objective 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. China Renaissance started coverage on Micron Technology in a research note on Monday, October 28th. They issued a "buy" rating and a $148.00 price objective for the company. Finally, Cantor Fitzgerald restated an "overweight" rating and issued a $150.00 price objective on shares of Micron Technology in a research note on Tuesday, October 1st. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-six have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $143.04.

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.