Micron Technology, Inc. (NASDAQ:MU) Holdings Lifted by Parametrica Management Ltd

Parametrica Management Ltd grew its position in shares of Micron Technology, Inc. (NASDAQ:MU) by 26.0% during the 3rd quarter, Holdings Channel.com reports. The firm owned 26,454 shares of the semiconductor manufacturer’s stock after purchasing an additional 5,454 shares during the quarter. Micron Technology accounts for 3.3% of Parametrica Management Ltd’s holdings, making the stock its 9th largest holding. Parametrica Management Ltd’s holdings in Micron Technology were worth $2,744,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also modified their holdings of the company. Chartwell Investment Partners LLC boosted its stake in Micron Technology by 26.4% in the 3rd quarter. Chartwell Investment Partners LLC now owns 195,115 shares of the semiconductor manufacturer’s stock worth $20,236,000 after buying an additional 40,802 shares during the last quarter. Clearbridge Investments LLC grew its holdings in 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 purchasing an additional 20,741 shares during the period. Global X Japan Co. Ltd. raised its stake in Micron Technology by 23.1% during the third quarter. Global X Japan Co. Ltd. now owns 51,832 shares of the semiconductor manufacturer’s stock worth $5,375,000 after purchasing an additional 9,735 shares during the period. River Road Asset Management LLC raised its stake in Micron Technology by 9.1% during the third quarter. River Road Asset Management LLC now owns 163,272 shares of the semiconductor manufacturer’s stock worth $16,933,000 after purchasing an additional 13,573 shares during the period. Finally, RWQ Financial Management Services Inc. acquired a new position in shares of Micron Technology in the 3rd quarter valued at $1,270,000. 80.84% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. Citigroup cut their target price on Micron Technology from $175.00 to $150.00 and set a “buy” rating on the stock in a research report on Tuesday, September 17th. Raymond James lifted their price objective on Micron Technology from $125.00 to $140.00 and gave the company an “outperform” rating in a research note on Thursday, September 26th. Morgan Stanley increased their target price on shares of Micron Technology from $100.00 to $114.00 and gave the stock an “equal weight” rating in a research report on Thursday, September 26th. China Renaissance began coverage on shares of Micron Technology in a report on Monday, October 28th. They issued a “buy” rating and a $148.00 price target on the stock. Finally, Robert W. Baird decreased their price objective on shares of Micron Technology from $172.00 to $150.00 and set an “outperform” rating for the company in a research note on Friday, September 27th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-six have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $143.04.

Micron Technology Stock Performance

MU stock traded down $2.04 during trading on Wednesday, hitting $102.06. 3,636,364 shares of the company’s stock traded hands, compared to its average volume of 21,640,521. Micron Technology, Inc. has a 52 week low of $72.93 and a 52 week high of $157.54. The stock has a fifty day moving average price of $100.72 and a two-hundred day moving average price of $113.03. The company has a quick ratio of 1.68, a current ratio of 2.64 and a debt-to-equity ratio of 0.29. The stock has a market capitalization of $113.16 billion, a price-to-earnings ratio of 153.09 and a beta of 1.18.

Micron Technology (NASDAQ:MU) last issued its earnings results on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.97 by $0.21. The firm had revenue of $7.75 billion for the quarter, compared to analysts’ expectations of $7.65 billion. Micron Technology had a net margin of 3.10% and a return on equity of 1.58%. Micron Technology’s revenue was up 93.3% on a year-over-year basis. During the same quarter last year, the company posted ($1.21) earnings per share. As a group, equities analysts anticipate that Micron Technology, Inc. will post 8.31 EPS for the current fiscal year.

Micron Technology Dividend Announcement

The business 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 was Monday, October 7th. Micron Technology’s payout ratio is 67.65%.

Insider Activity

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of the company’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 transaction, the executive vice president now owns 135,830 shares in the company, 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 Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.32% of the company’s stock.

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.