Natixis Buys 303,996 Shares of Micron Technology, Inc. (NASDAQ:MU)

Natixis grew its stake in Micron Technology, Inc. (NASDAQ:MU) by 113.0% in the second quarter, HoldingsChannel reports. The fund owned 572,947 shares of the semiconductor manufacturer’s stock after acquiring an additional 303,996 shares during the period. Natixis’ holdings in Micron Technology were worth $48,690,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Meridian Wealth Partners LLC bought a new stake in shares of Micron Technology during the first quarter worth approximately $25,000. Red Door Wealth Management LLC bought a new stake in shares of Micron Technology during the second quarter worth approximately $32,000. Sterling Investment Advisors Ltd. raised its stake in shares of Micron Technology by 700.0% during the second quarter. Sterling Investment Advisors Ltd. now owns 400 shares of the semiconductor manufacturer’s stock worth $34,000 after buying an additional 350 shares during the last quarter. Capital Analysts LLC bought a new stake in shares of Micron Technology during the second quarter worth approximately $35,000. Finally, Bedel Financial Consulting Inc. raised its stake in shares of Micron Technology by 78.1% during the second quarter. Bedel Financial Consulting Inc. now owns 422 shares of the semiconductor manufacturer’s stock worth $36,000 after buying an additional 185 shares during the last quarter. 78.34% of the stock is owned by institutional investors.

MU stock opened at $67.08 on Thursday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.57 and a current ratio of 3.40. The company’s 50-day simple moving average is $72.81 and its 200 day simple moving average is $79.30. Micron Technology, Inc. has a 52 week low of $49.30 and a 52 week high of $96.96. The company has a market capitalization of $75.52 billion, a PE ratio of 18.29, a price-to-earnings-growth ratio of 0.49 and a beta of 1.27.

Micron Technology (NASDAQ:MU) last released its quarterly earnings results on Monday, September 27th. The semiconductor manufacturer reported $2.42 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.33 by $0.09. The business had revenue of $8.27 billion for the quarter, compared to the consensus estimate of $8.21 billion. Micron Technology had a net margin of 16.20% and a return on equity of 12.60%. Micron Technology’s revenue was up 36.6% compared to the same quarter last year. During the same period in the prior year, the company posted $1.00 earnings per share. On average, analysts forecast that Micron Technology, Inc. will post 5.65 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Monday, October 18th. Stockholders of record on Friday, October 1st will be paid a $0.10 dividend. The ex-dividend date of this dividend is Thursday, September 30th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.60%. Micron Technology’s payout ratio is currently 15.69%.

MU has been the subject of a number of analyst reports. KeyCorp decreased their price objective on shares of Micron Technology from $120.00 to $110.00 and set an “overweight” rating for the company in a report on Friday, September 24th. Citigroup decreased their price objective on shares of Micron Technology from $135.00 to $120.00 and set a “buy” rating for the company in a report on Monday, September 27th. Needham & Company LLC restated a “buy” rating and set a $130.00 price objective on shares of Micron Technology in a report on Wednesday, September 29th. Raymond James decreased their price objective on shares of Micron Technology from $120.00 to $100.00 and set a “strong-buy” rating for the company in a report on Monday, September 27th. Finally, Barclays decreased their price objective on shares of Micron Technology from $110.00 to $87.00 and set an “overweight” rating for the company in a report on Wednesday, September 29th. Six research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $107.60.

In other news, SVP April S. Arnzen sold 8,300 shares of Micron Technology stock in a transaction on Friday, September 24th. The shares were sold at an average price of $73.32, for a total value of $608,556.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Joel L. Poppen sold 4,984 shares of Micron Technology stock in a transaction on Wednesday, August 11th. The shares were sold at an average price of $76.00, for a total transaction of $378,784.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 31,302 shares of company stock worth $2,274,482. 0.30% of the stock is currently owned by corporate insiders.

About Micron Technology

Micron Technology, Inc engages in the provision of innovative memory and storage solutions. It operates through the following segments: Compute and Networking Business Unit (CNBU); Mobile Business Unit (MBU); Storage Business Unit (SBU); and Embedded Business Unit (EBU). The Compute and Networking Business Unit segment includes memory products sold into cloud server, enterprise, client, graphics, and networking markets.

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Institutional Ownership by Quarter for Micron Technology (NASDAQ:MU)

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