Clearbridge Investments LLC Has $186.61 Million Stock Holdings in Micron Technology, Inc. (NASDAQ:MU)

Clearbridge Investments LLC trimmed its position in shares of Micron Technology, Inc. (NASDAQ:MU) by 26.6% during the second quarter, HoldingsChannel reports. The firm owned 1,418,726 shares of the semiconductor manufacturer’s stock after selling 513,085 shares during the quarter. Clearbridge Investments LLC’s holdings in Micron Technology were worth $186,605,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Hobbs Group Advisors LLC acquired a new stake in Micron Technology during the 2nd quarter worth approximately $28,000. DecisionPoint Financial LLC acquired a new stake in shares of Micron Technology during the first quarter worth $25,000. Valued Wealth Advisors LLC raised its holdings in shares of Micron Technology by 230.7% during the first quarter. Valued Wealth Advisors LLC now owns 248 shares of the semiconductor manufacturer’s stock worth $29,000 after acquiring an additional 173 shares during the period. Richard W. Paul & Associates LLC lifted its position in 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 acquiring an additional 144 shares in the last quarter. Finally, LRI Investments LLC boosted its stake in 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 purchasing an additional 99 shares during the period. Institutional investors and hedge funds own 80.84% of the company’s stock.

Micron Technology Price Performance

Shares of MU opened at $100.31 on Wednesday. The company’s 50-day moving average is $97.12 and its 200-day moving average is $115.10. The company has a debt-to-equity ratio of 0.29, a current ratio of 3.41 and a quick ratio of 2.16. The firm has a market capitalization of $111.23 billion, a PE ratio of -70.64, a PEG ratio of 0.20 and a beta of 1.17. Micron Technology, Inc. has a fifty-two week low of $63.88 and a fifty-two week high of $157.54.

Micron Technology (NASDAQ:MU) last released 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 negative net margin of 7.20% and a negative return on equity of 4.01%. The firm had revenue of $7.75 billion for the quarter, compared to analysts’ expectations of $7.65 billion. During the same period in the prior year, the firm earned ($1.21) EPS. The business’s revenue was up 93.3% on a year-over-year basis. Equities analysts forecast that Micron Technology, Inc. will post 0.61 EPS for the current year.

Micron Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 23rd. Shareholders of record on Monday, October 7th will be issued a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a yield of 0.46%. The ex-dividend date of this dividend is Monday, October 7th. Micron Technology’s dividend payout ratio is -32.39%.

Insider Buying and Selling at Micron Technology

In other news, EVP April S. Arnzen sold 4,890 shares of the business’s stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $113.00, for a total value of $552,570.00. Following the completion of the sale, the executive vice president now owns 135,830 shares of the company’s stock, valued at $15,348,790. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.32% of the company’s stock.

Analysts Set New Price Targets

MU has been the topic of a number of research reports. Robert W. Baird cut their price target on Micron Technology from $172.00 to $150.00 and set an “outperform” rating on the stock in a report on Friday, September 27th. BNP Paribas cut Micron Technology from an “outperform” rating to an “underperform” rating and cut their target price for the company from $140.00 to $67.00 in a research note on Thursday, September 12th. Bank of America raised their price target on shares of Micron Technology from $110.00 to $125.00 and gave the stock a “buy” rating in a research note on Thursday, September 26th. Rosenblatt Securities boosted their price objective on shares of Micron Technology from $225.00 to $250.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. Finally, KeyCorp reduced their target price on shares of Micron Technology from $165.00 to $145.00 and set an “overweight” rating for the company in a report on Tuesday, August 6th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-five have issued a buy rating to the company’s stock. According to data from MarketBeat, Micron Technology presently has a consensus rating of “Moderate Buy” and a consensus price target of $143.23.

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.