Micron Technology, Inc. (NASDAQ:MU) Shares Sold by Itau Unibanco Holding S.A.

Itau Unibanco Holding S.A. cut its position in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 67.8% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 18,815 shares of the semiconductor manufacturer's stock after selling 39,554 shares during the period. Itau Unibanco Holding S.A.'s holdings in Micron Technology were worth $2,475,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of the company. Tidemark LLC acquired a new stake in Micron Technology during the 4th quarter worth $25,000. DecisionPoint Financial LLC acquired a new stake in Micron Technology during the 1st quarter worth $25,000. Pingora Partners LLC acquired a new stake in Micron Technology during the 4th quarter worth $26,000. Hobbs Group Advisors LLC acquired a new stake in Micron Technology during the 2nd quarter worth $28,000. Finally, Frank Rimerman Advisors LLC acquired a new stake in Micron Technology during the 4th quarter worth $29,000. 80.84% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

MU has been the subject of a number of recent research reports. Morgan Stanley decreased their price target on shares of Micron Technology from $140.00 to $100.00 and set an "equal weight" rating for the company in a research note on Monday, September 16th. Rosenblatt Securities restated a "buy" rating and issued a $225.00 target price on shares of Micron Technology in a research note on Tuesday, June 25th. Wedbush restated an "outperform" rating and issued a $170.00 target price on shares of Micron Technology in a research note on Thursday, June 27th. Citigroup reduced their target price on shares of Micron Technology from $175.00 to $150.00 and set a "buy" rating for the company in a research note on Tuesday, September 17th. Finally, Wolfe Research raised their target price on shares of Micron Technology from $150.00 to $200.00 and gave the stock an "outperform" rating in a research note on Friday, June 21st. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-five have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $145.65.

Micron Technology Trading Up 1.8 %

Shares of MU traded up $1.65 during mid-day trading on Friday, hitting $90.90. The company had a trading volume of 28,711,000 shares, compared to its average volume of 21,412,611. The business's 50-day simple moving average is $99.81 and its 200-day simple moving average is $114.83. The company has a quick ratio of 2.16, a current ratio of 3.41 and a debt-to-equity ratio of 0.29. Micron Technology, Inc. has a 1-year low of $63.83 and a 1-year high of $157.54. The stock has a market cap of $100.79 billion, a PE ratio of -64.01 and a beta of 1.17.

Micron Technology (NASDAQ:MU - Get Free Report) last released its earnings results on Wednesday, June 26th. The semiconductor manufacturer reported $0.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.14. Micron Technology had a negative net margin of 7.20% and a negative return on equity of 4.01%. The business had revenue of $6.81 billion for the quarter, compared to analysts' expectations of $6.67 billion. During the same period last year, the company earned ($1.57) earnings per share. The company's quarterly revenue was up 81.5% on a year-over-year basis. Sell-side analysts forecast that Micron Technology, Inc. will post 0.61 earnings per share for the current year.

Micron Technology Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 23rd. Stockholders of record on Monday, July 8th were paid a $0.115 dividend. The ex-dividend date of this dividend was Monday, July 8th. This represents a $0.46 annualized dividend and a dividend yield of 0.51%. Micron Technology's dividend payout ratio (DPR) is presently -32.39%.

Insider Activity

In other news, EVP April S. Arnzen sold 4,890 shares of the company's stock in a transaction on Thursday, June 27th. The shares were sold at an average price of $135.86, for a total value of $664,355.40. Following the completion of the transaction, the executive vice president now directly owns 142,321 shares in the company, valued at $19,335,731.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.32% of the company's stock.

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.