Micron Technology, Inc. (NASDAQ:MU) Shares Sold by MetLife Investment Management LLC

MetLife Investment Management LLC trimmed its holdings in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) by 2.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 288,218 shares of the semiconductor manufacturer's stock after selling 7,064 shares during the quarter. MetLife Investment Management LLC's holdings in Micron Technology were worth $29,891,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in MU. Highline Wealth Partners LLC purchased a new position in shares of Micron Technology during the third quarter valued at $26,000. Hobbs Group Advisors LLC bought a new position in Micron Technology during the 2nd quarter worth about $28,000. Davis Capital Management purchased a new position in Micron Technology during the 3rd quarter valued at about $30,000. Richard W. Paul & Associates LLC raised its holdings in shares of 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 purchasing an additional 144 shares in the last quarter. Finally, DT Investment Partners LLC raised its stake in Micron Technology by 261.1% in the third quarter. DT Investment Partners LLC now owns 325 shares of the semiconductor manufacturer's stock worth $34,000 after buying an additional 235 shares in the last quarter. 80.84% of the stock is currently owned by institutional investors.

Micron Technology Stock Down 3.5 %

Micron Technology stock traded down $3.60 during midday trading on Wednesday, reaching $98.20. The company's stock had a trading volume of 17,013,781 shares, compared to its average volume of 21,485,566. The business has a 50-day simple moving average of $103.28 and a 200-day simple moving average of $111.80. The company has a market cap of $108.88 billion, a P/E ratio of 144.41 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. 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 (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, topping 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 company had revenue of $7.75 billion for the quarter, compared to analyst estimates of $7.65 billion. During the same quarter last year, the company posted ($1.21) earnings per share. The business's quarterly revenue was up 93.3% compared to the same quarter last year. On average, research analysts expect that Micron Technology, Inc. will post 8.31 earnings per share for the current fiscal year.

Micron Technology Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. BNP Paribas lowered shares of Micron Technology from an "outperform" rating to an "underperform" rating and decreased their price target for the company from $140.00 to $67.00 in a research report on Thursday, September 12th. Stifel Nicolaus lowered their price objective on shares of Micron Technology from $165.00 to $135.00 and set a "buy" rating for the company in a research note on Thursday, September 19th. China Renaissance initiated coverage on Micron Technology in a research report on Monday, October 28th. They issued a "buy" rating and a $148.00 target price on the stock. UBS Group lowered their price target on Micron Technology from $153.00 to $135.00 and set a "buy" rating for the company in a research report on Tuesday, September 17th. Finally, Raymond James increased their price objective on Micron Technology from $125.00 to $140.00 and gave the company an "outperform" rating in a report on Thursday, September 26th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and twenty-six have issued a buy rating to the company. According to MarketBeat.com, Micron Technology has a consensus rating of "Moderate Buy" and an average target price of $143.04.

Insider Transactions at Micron Technology

In other Micron Technology 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 owns 135,830 shares in the company, valued at approximately $15,348,790. The trade was a 3.47 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.32% of the company's stock.

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.