Micron Technology, Inc. (NASDAQ:MU) Shares Sold by Lmcg Investments LLC

Lmcg Investments LLC reduced its position in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 4.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 142,388 shares of the semiconductor manufacturer's stock after selling 5,888 shares during the quarter. Micron Technology accounts for approximately 0.9% of Lmcg Investments LLC's investment portfolio, making the stock its 26th largest holding. Lmcg Investments LLC's holdings in Micron Technology were worth $14,767,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Highline Wealth Partners LLC bought a new position in Micron Technology in the third quarter worth about $26,000. Hobbs Group Advisors LLC bought a new position in Micron Technology in the second quarter worth about $28,000. Davis Capital Management bought a new position in Micron Technology in the third quarter worth about $30,000. Richard W. Paul & Associates LLC raised its holdings in Micron Technology by 128.6% in the second quarter. Richard W. Paul & Associates LLC now owns 256 shares of the semiconductor manufacturer's stock worth $34,000 after purchasing an additional 144 shares in the last quarter. Finally, DT Investment Partners LLC raised its holdings 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 purchasing an additional 235 shares in the last quarter. 80.84% of the stock is currently owned by institutional investors.

Micron Technology Price Performance

Shares of NASDAQ:MU traded up $0.08 during midday trading on Friday, hitting $99.73. The company's stock had a trading volume of 13,623,350 shares, compared to its average volume of 21,915,816. The business's 50 day simple moving average is $98.94 and its 200 day simple moving average is $113.21. 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 company has a market cap of $110.57 billion, a P/E ratio of 146.66 and a beta of 1.18. Micron Technology, Inc. has a 12-month low of $69.75 and a 12-month high of $157.54.

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

Micron Technology Announces Dividend

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

Analysts Set New Price Targets

A number of brokerages have recently weighed in on MU. TD Cowen boosted their price target on Micron Technology from $115.00 to $135.00 and gave the stock a "buy" rating in a research note on Thursday, September 26th. Susquehanna dropped their price target on Micron Technology from $175.00 to $165.00 and set a "positive" rating on the stock in a research note on Thursday, September 26th. Robert W. Baird dropped 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. China Renaissance began coverage on Micron Technology in a research note on Monday, October 28th. They set a "buy" rating and a $148.00 price target on the stock. Finally, Bank of America boosted their price target on Micron Technology from $110.00 to $125.00 and gave the stock a "buy" rating in a research note 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 assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $143.04.

Insider Buying and Selling

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of Micron Technology stock in a transaction dated Thursday, September 26th. The shares were 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 directly owns 135,830 shares in the company, valued at $15,348,790. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.32% of the stock is owned by company insiders.

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.