Aspex Management HK Ltd Reduces Stock Position in Micron Technology, Inc. (NASDAQ:MU)

Aspex Management HK Ltd decreased its position in Micron Technology, Inc. (NASDAQ:MU) by 17.4% in the 3rd quarter, HoldingsChannel reports. The firm owned 1,123,393 shares of the semiconductor manufacturer’s stock after selling 237,280 shares during the period. Micron Technology makes up about 3.1% of Aspex Management HK Ltd’s holdings, making the stock its 13th largest holding. Aspex Management HK Ltd’s holdings in Micron Technology were worth $116,507,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in MU. Primecap Management Co. CA raised its position in shares of Micron Technology by 0.6% in the third quarter. Primecap Management Co. CA now owns 37,631,860 shares of the semiconductor manufacturer’s stock valued at $3,902,800,000 after buying an additional 206,499 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Micron Technology by 21.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 11,326,224 shares of the semiconductor manufacturer’s stock valued at $1,174,643,000 after acquiring an additional 2,022,180 shares during the last quarter. Van ECK Associates Corp lifted its stake in shares of Micron Technology by 30.6% during the 3rd quarter. Van ECK Associates Corp now owns 10,564,198 shares of the semiconductor manufacturer’s stock worth $1,109,769,000 after purchasing an additional 2,477,985 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of Micron Technology by 1.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 6,721,126 shares of the semiconductor manufacturer’s stock worth $697,048,000 after purchasing an additional 65,591 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. grew its position in shares of Micron Technology by 7.4% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 4,276,245 shares of the semiconductor manufacturer’s stock valued at $443,489,000 after purchasing an additional 295,452 shares during the period. 80.84% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Micron Technology

In other news, EVP April S. Arnzen sold 4,890 shares of the company’s stock in a transaction that occurred on 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 directly owns 135,830 shares of the company’s stock, valued at approximately $15,348,790. This represents a 3.47 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.32% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

MU has been the topic of several recent analyst reports. Raymond James increased their target price on Micron Technology from $125.00 to $140.00 and gave the stock an “outperform” rating in a research report on Thursday, September 26th. TD Cowen raised their target price on shares of Micron Technology from $115.00 to $135.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. Bank of America boosted their target price on shares of Micron Technology from $110.00 to $125.00 and gave the company a “buy” rating in a report on Thursday, September 26th. BNP Paribas lowered shares of Micron Technology from an “outperform” rating to an “underperform” rating and decreased their price target for the company from $140.00 to $67.00 in a report on Thursday, September 12th. Finally, Wells Fargo & Company lowered their price objective on shares of Micron Technology from $190.00 to $175.00 and set an “overweight” rating for the company in a research note on Wednesday, September 18th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-six have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $143.04.

Micron Technology Stock Performance

Shares of MU stock opened at $97.95 on Monday. The company has a market cap of $109.12 billion, a P/E ratio of 144.05 and a beta of 1.18. The business has a 50 day moving average of $103.60 and a two-hundred day moving average of $111.32. Micron Technology, Inc. has a 52 week low of $72.93 and a 52 week high of $157.54. The company has a quick ratio of 1.68, a current ratio of 2.64 and a debt-to-equity ratio of 0.29.

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

Micron Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 23rd. Investors of record on Monday, October 7th were issued a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a yield of 0.47%. 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.