DT Investment Partners LLC Boosts Position in Micron Technology, Inc. (NASDAQ:MU)

DT Investment Partners LLC raised its stake in Micron Technology, Inc. (NASDAQ:MU) by 261.1% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 325 shares of the semiconductor manufacturer’s stock after buying an additional 235 shares during the period. DT Investment Partners LLC’s holdings in Micron Technology were worth $34,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also modified their holdings of the company. Clearbridge Investments LLC raised its holdings in shares of Micron Technology by 1.1% in the first quarter. Clearbridge Investments LLC now owns 1,931,811 shares of the semiconductor manufacturer’s stock valued at $227,741,000 after acquiring an additional 20,741 shares in the last quarter. Global X Japan Co. Ltd. increased its position in Micron Technology by 23.1% during the 3rd quarter. Global X Japan Co. Ltd. now owns 51,832 shares of the semiconductor manufacturer’s stock valued at $5,375,000 after purchasing an additional 9,735 shares during the period. Chapin Davis Inc. bought a new stake in shares of Micron Technology in the 2nd quarter valued at about $4,056,000. Handelsbanken Fonder AB lifted its position in shares of Micron Technology by 2.4% in the 3rd quarter. Handelsbanken Fonder AB now owns 434,596 shares of the semiconductor manufacturer’s stock worth $45,072,000 after purchasing an additional 9,992 shares during the period. Finally, Kempner Capital Management Inc. boosted its stake in shares of Micron Technology by 16.8% during the third quarter. Kempner Capital Management Inc. now owns 94,192 shares of the semiconductor manufacturer’s stock valued at $9,769,000 after purchasing an additional 13,581 shares in the last quarter. 80.84% of the stock is owned by hedge funds and other institutional investors.

Micron Technology Price Performance

NASDAQ:MU opened at $107.91 on Friday. The firm’s fifty day moving average is $99.23 and its two-hundred day moving average is $114.05. The firm has a market cap of $119.66 billion, a price-to-earnings ratio of -75.99 and a beta of 1.18. Micron Technology, Inc. has a one year low of $63.88 and a one year high of $157.54. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.68 and a current ratio of 2.64.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings results on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 earnings per share for the quarter, beating 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 during the quarter, compared to analysts’ expectations of $7.65 billion. During the same period last year, the business earned ($1.21) earnings per share. Micron Technology’s quarterly revenue was up 93.3% on a year-over-year basis. Research analysts expect that Micron Technology, Inc. will post 8.31 EPS for the current year.

Micron Technology Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 23rd. Investors of record on Monday, October 7th were issued a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a yield of 0.43%. The ex-dividend date of this dividend was Monday, October 7th. Micron Technology’s dividend payout ratio (DPR) is presently -32.39%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on MU shares. KeyCorp reduced their price objective on shares of Micron Technology from $145.00 to $135.00 and set an “overweight” rating for the company in a research note on Tuesday, October 8th. UBS Group decreased their price objective on Micron Technology from $153.00 to $135.00 and set a “buy” rating for the company in a research note on Tuesday, September 17th. Stifel Nicolaus cut their target price on Micron Technology from $165.00 to $135.00 and set a “buy” rating on the stock in a research note on Thursday, September 19th. TD Cowen boosted their target price on shares of Micron Technology from $115.00 to $135.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. Finally, Citigroup lowered their price target on shares of Micron Technology from $175.00 to $150.00 and set a “buy” rating on the stock in a report on Tuesday, September 17th. One 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’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $142.85.

Insider Activity at Micron Technology

In related news, EVP April S. Arnzen sold 4,890 shares of the company’s stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $113.00, for a total value of $552,570.00. Following the completion of the transaction, the executive vice president now owns 135,830 shares of the company’s stock, valued at approximately $15,348,790. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.32% of the stock is owned by company insiders.

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.