Micron Technology, Inc. (NASDAQ:MU) Holdings Lifted by Worldquant Millennium Advisors LLC

Worldquant Millennium Advisors LLC lifted its position in shares of Micron Technology, Inc. (NASDAQ:MU) by 254.4% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 1,859,416 shares of the semiconductor manufacturer’s stock after acquiring an additional 1,334,690 shares during the quarter. Micron Technology makes up 1.4% of Worldquant Millennium Advisors LLC’s investment portfolio, making the stock its 7th largest position. Worldquant Millennium Advisors LLC’s holdings in Micron Technology were worth $192,840,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Wahed Invest LLC grew its stake in Micron Technology by 16.9% in the 3rd quarter. Wahed Invest LLC now owns 26,777 shares of the semiconductor manufacturer’s stock valued at $2,777,000 after buying an additional 3,866 shares in the last quarter. Weiss Asset Management LP purchased a new position in shares of Micron Technology in the third quarter valued at $2,932,000. Two Sigma Advisers LP raised its stake in shares of Micron Technology by 24.3% during the 3rd quarter. Two Sigma Advisers LP now owns 4,573,200 shares of the semiconductor manufacturer’s stock valued at $474,287,000 after purchasing an additional 893,700 shares during the period. Sora Investors LLC bought a new stake in shares of Micron Technology during the 3rd quarter valued at $18,668,000. Finally, State Street Corp lifted its holdings in Micron Technology by 3.1% during the 3rd quarter. State Street Corp now owns 48,226,710 shares of the semiconductor manufacturer’s stock worth $5,001,592,000 after purchasing an additional 1,434,568 shares in the last quarter. 80.84% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on MU. Robert W. Baird decreased their price target on Micron Technology from $172.00 to $150.00 and set an “outperform” rating on the stock in a research report on Friday, September 27th. KeyCorp decreased their target price on shares of Micron Technology from $145.00 to $135.00 and set an “overweight” rating on the stock in a report on Tuesday, October 8th. Raymond James raised their price target on shares of Micron Technology from $125.00 to $140.00 and gave the company an “outperform” rating in a report on Thursday, September 26th. BNP Paribas lowered shares of Micron Technology from an “outperform” rating to an “underperform” rating and reduced their price target for the company from $140.00 to $67.00 in a research report on Thursday, September 12th. Finally, UBS Group lowered their price objective on Micron Technology from $153.00 to $135.00 and set a “buy” rating on the stock in a research report on Tuesday, September 17th. One equities research 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 company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $143.04.

Micron Technology Price Performance

Shares of Micron Technology stock opened at $100.87 on Friday. The stock has a market capitalization of $112.37 billion, a P/E ratio of 148.34 and a beta of 1.16. Micron Technology, Inc. has a one year low of $72.93 and a one year high of $157.54. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.64 and a quick ratio of 1.68. The business’s 50 day simple moving average is $103.79 and its two-hundred day simple moving average is $110.81.

Micron Technology (NASDAQ:MU) last posted its quarterly earnings results on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 EPS for the quarter, beating analysts’ consensus estimates of $0.97 by $0.21. The company had revenue of $7.75 billion during the quarter, compared to analyst estimates of $7.65 billion. Micron Technology had a net margin of 3.10% and a return on equity of 1.58%. The firm’s revenue was up 93.3% compared to the same quarter last year. During the same period in the prior year, the business posted ($1.21) EPS. Analysts forecast that Micron Technology, Inc. will post 8.31 EPS for the current year.

Micron Technology Dividend Announcement

The firm 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. The ex-dividend date was Monday, October 7th. This represents a $0.46 dividend on an annualized basis and a yield of 0.46%. Micron Technology’s dividend payout ratio is presently 67.65%.

Insider Buying and Selling at Micron Technology

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of the business’s stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $113.00, for a total transaction of $552,570.00. Following the transaction, the executive vice president now directly owns 135,830 shares of the company’s stock, valued at approximately $15,348,790. The trade was a 3.47 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.30% of the stock is currently owned by corporate insiders.

About Micron Technology

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.