Micron Technology, Inc. (NASDAQ:MU) Shares Sold by AIA Group Ltd

AIA Group Ltd decreased its position in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 47.8% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,846 shares of the semiconductor manufacturer's stock after selling 6,260 shares during the quarter. AIA Group Ltd's holdings in Micron Technology were worth $710,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Atria Investments Inc boosted its position in Micron Technology by 0.3% during the 1st quarter. Atria Investments Inc now owns 27,749 shares of the semiconductor manufacturer's stock valued at $3,269,000 after buying an additional 93 shares during the period. Aspect Partners LLC raised its position in Micron Technology by 39.8% during the 2nd quarter. Aspect Partners LLC now owns 330 shares of the semiconductor manufacturer's stock valued at $43,000 after purchasing an additional 94 shares during the last quarter. Ameritas Advisory Services LLC lifted its holdings in Micron Technology by 1.3% in the 2nd quarter. Ameritas Advisory Services LLC now owns 7,625 shares of the semiconductor manufacturer's stock worth $1,003,000 after buying an additional 98 shares during the period. LRI Investments LLC grew its position in shares of Micron Technology by 57.2% in the 2nd quarter. LRI Investments LLC now owns 272 shares of the semiconductor manufacturer's stock worth $36,000 after buying an additional 99 shares during the last quarter. Finally, E&G Advisors LP grew its position in shares of Micron Technology by 5.2% in the 2nd quarter. E&G Advisors LP now owns 2,015 shares of the semiconductor manufacturer's stock worth $265,000 after buying an additional 100 shares during the last quarter. Hedge funds and other institutional investors own 80.84% of the company's stock.

Insider Activity

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of the company's stock in a transaction that occurred on Thursday, September 26th. The shares were 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. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 0.32% of the company's stock.

Micron Technology Stock Down 1.3 %

Shares of MU stock traded down $1.51 on Friday, hitting $111.90. The stock had a trading volume of 13,045,721 shares, compared to its average volume of 17,080,670. The company has a quick ratio of 1.68, a current ratio of 2.64 and a debt-to-equity ratio of 0.29. The company has a market cap of $124.07 billion, a PE ratio of 164.56 and a beta of 1.18. The business has a 50 day moving average price of $100.16 and a 200 day moving average price of $113.12. Micron Technology, Inc. has a one year low of $72.93 and a one year high of $157.54.

Micron Technology (NASDAQ:MU - Get Free Report) last announced its earnings results 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. The business had revenue of $7.75 billion for the quarter, compared to analysts' expectations of $7.65 billion. Micron Technology had a return on equity of 1.58% and a net margin of 3.10%. The business's revenue for the quarter was up 93.3% on a year-over-year basis. During the same quarter last year, the firm earned ($1.21) EPS. Research analysts anticipate that Micron Technology, Inc. will post 8.31 earnings per share for the current fiscal year.

Micron Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 23rd. Stockholders of record on Monday, October 7th were issued a dividend of $0.115 per share. The ex-dividend date of this dividend was Monday, October 7th. This represents a $0.46 annualized dividend and a dividend yield of 0.41%. Micron Technology's dividend payout ratio is presently 67.65%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on MU shares. Citigroup reduced their price target on shares of Micron Technology from $175.00 to $150.00 and set a "buy" rating on the stock in a research report on Tuesday, September 17th. Needham & Company LLC reiterated a "buy" rating and set a $140.00 target price on shares of Micron Technology in a report on Thursday, September 26th. Cantor Fitzgerald restated an "overweight" rating and issued a $150.00 target price on shares of Micron Technology in a research note on Tuesday, October 1st. Robert W. Baird reduced their price target on Micron Technology from $172.00 to $150.00 and set an "outperform" rating on the stock in a research note on Friday, September 27th. Finally, KeyCorp dropped their price objective on shares of Micron Technology from $145.00 to $135.00 and set an "overweight" rating on the stock in a research note on Tuesday, October 8th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-six have given a buy rating to the company. According to data from MarketBeat.com, Micron Technology currently has an average rating of "Moderate Buy" and an average target price of $143.04.

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.