Gulf International Bank UK Ltd Sells 4,010 Shares of Micron Technology, Inc. (NASDAQ:MU)

Gulf International Bank UK Ltd decreased its holdings in shares of Micron Technology, Inc. (NASDAQ:MU) by 4.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 86,854 shares of the semiconductor manufacturer’s stock after selling 4,010 shares during the period. Gulf International Bank UK Ltd’s holdings in Micron Technology were worth $9,007,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Norden Group LLC grew its holdings in Micron Technology by 43.4% during the 1st quarter. Norden Group LLC now owns 3,564 shares of the semiconductor manufacturer’s stock valued at $420,000 after buying an additional 1,078 shares in the last quarter. Janney Montgomery Scott LLC increased its holdings in shares of Micron Technology by 8.0% in the 1st quarter. Janney Montgomery Scott LLC now owns 109,138 shares of the semiconductor manufacturer’s stock worth $12,866,000 after buying an additional 8,065 shares during the last quarter. Nordea Investment Management AB raised its position in shares of Micron Technology by 68.3% during the 1st quarter. Nordea Investment Management AB now owns 140,731 shares of the semiconductor manufacturer’s stock valued at $16,653,000 after buying an additional 57,103 shares in the last quarter. Callan Capital LLC bought a new position in shares of Micron Technology in the 1st quarter valued at about $209,000. Finally, Catalina Capital Group LLC purchased a new position in Micron Technology in the first quarter worth about $373,000. Institutional investors own 80.84% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Morgan Stanley raised their price target on Micron Technology from $100.00 to $114.00 and gave the stock an “equal weight” rating in a research report on Thursday, September 26th. Raymond James boosted their target price on Micron Technology from $125.00 to $140.00 and gave the company an “outperform” rating in a research report on Thursday, September 26th. Needham & Company LLC restated a “buy” rating and set a $140.00 price objective on shares of Micron Technology in a report on Thursday, September 26th. KeyCorp reduced their target price on Micron Technology from $145.00 to $135.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 8th. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $150.00 price target on shares of Micron Technology in a report on Tuesday, October 1st. One analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-six have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $143.04.

Insider Transactions at Micron Technology

In related news, EVP April S. Arnzen sold 4,890 shares of the firm’s 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 approximately $15,348,790. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.32% of the company’s stock.

Micron Technology Stock Performance

NASDAQ MU opened at $101.73 on Tuesday. The stock has a market capitalization of $112.79 billion, a price-to-earnings ratio of 149.61 and a beta of 1.18. Micron Technology, Inc. has a twelve month low of $71.71 and a twelve month high of $157.54. The stock has a 50-day moving average of $99.00 and a 200 day moving average of $113.11. The company has a current ratio of 2.64, a quick ratio of 1.68 and a debt-to-equity ratio of 0.29.

Micron Technology (NASDAQ:MU) last announced its earnings results on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 earnings per share (EPS) for the quarter, beating 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 business had revenue of $7.75 billion for the quarter, compared to analyst estimates of $7.65 billion. During the same quarter last year, the business earned ($1.21) earnings per share. The company’s revenue for the quarter was up 93.3% compared to the same quarter last year. Sell-side analysts anticipate that Micron Technology, Inc. will post 8.31 EPS for the current fiscal year.

Micron Technology Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 23rd. Shareholders of record on Monday, October 7th were paid a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a yield of 0.45%. The ex-dividend date of this dividend was Monday, October 7th. Micron Technology’s dividend payout ratio (DPR) is 67.65%.

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.