Micron Technology, Inc. $MU Holdings Lowered by Ballentine Partners LLC

Ballentine Partners LLC trimmed its stake in shares of Micron Technology, Inc. (NASDAQ:MU) by 0.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 101,614 shares of the semiconductor manufacturer’s stock after selling 677 shares during the quarter. Ballentine Partners LLC’s holdings in Micron Technology were worth $12,524,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in MU. Nuveen LLC bought a new stake in shares of Micron Technology during the 1st quarter worth about $369,191,000. Vanguard Group Inc. raised its position in shares of Micron Technology by 2.1% during the 1st quarter. Vanguard Group Inc. now owns 101,906,368 shares of the semiconductor manufacturer’s stock worth $8,854,644,000 after buying an additional 2,049,163 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in shares of Micron Technology by 23.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 10,616,488 shares of the semiconductor manufacturer’s stock worth $922,467,000 after purchasing an additional 2,038,641 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of Micron Technology by 10,369.6% in the 1st quarter. GAMMA Investing LLC now owns 1,873,435 shares of the semiconductor manufacturer’s stock worth $162,783,000 after purchasing an additional 1,855,541 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in shares of Micron Technology by 26.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 6,800,052 shares of the semiconductor manufacturer’s stock worth $590,807,000 after purchasing an additional 1,416,174 shares during the last quarter. 80.84% of the stock is currently owned by institutional investors.

Insider Activity

In related news, EVP Sumit Sadana sold 92,638 shares of the business’s stock in a transaction that occurred on Friday, June 27th. The shares were sold at an average price of $125.49, for a total transaction of $11,625,142.62. Following the transaction, the executive vice president directly owned 201,326 shares of the company’s stock, valued at approximately $25,264,399.74. The trade was a 31.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Mark J. Murphy sold 34,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 22nd. The shares were sold at an average price of $109.32, for a total transaction of $3,716,880.00. Following the transaction, the chief financial officer directly owned 264,036 shares in the company, valued at $28,864,415.52. The trade was a 11.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 255,946 shares of company stock valued at $32,306,159 in the last three months. 0.30% of the stock is currently owned by insiders.

Analysts Set New Price Targets

MU has been the topic of several recent research reports. KeyCorp lifted their price objective on shares of Micron Technology from $135.00 to $160.00 and gave the stock an “overweight” rating in a research note on Thursday, June 26th. Wolfe Research lifted their price objective on shares of Micron Technology from $160.00 to $180.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 17th. Needham & Company LLC reaffirmed a “buy” rating and issued a $150.00 price objective on shares of Micron Technology in a research note on Monday, August 11th. Morgan Stanley lifted their price objective on shares of Micron Technology from $135.00 to $160.00 and gave the stock an “equal weight” rating in a research note on Monday. Finally, Cantor Fitzgerald lifted their price objective on shares of Micron Technology from $155.00 to $185.00 and gave the stock an “overweight” rating in a research note on Monday, September 15th. Two research analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $165.54.

Micron Technology Stock Performance

Micron Technology stock opened at $166.41 on Wednesday. The firm’s 50 day simple moving average is $125.66 and its 200-day simple moving average is $106.69. The company has a market cap of $186.23 billion, a P/E ratio of 29.98 and a beta of 1.47. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.75 and a quick ratio of 1.89. Micron Technology, Inc. has a fifty-two week low of $61.54 and a fifty-two week high of $170.45.

Micron Technology (NASDAQ:MU) last released its earnings results on Wednesday, June 25th. The semiconductor manufacturer reported $1.91 earnings per share for the quarter, topping the consensus estimate of $1.57 by $0.34. Micron Technology had a net margin of 18.41% and a return on equity of 13.60%. The business had revenue of $9.30 billion for the quarter, compared to the consensus estimate of $8.83 billion. During the same period last year, the firm posted $0.62 earnings per share. As a group, equities research analysts predict that Micron Technology, Inc. will post 6.08 EPS for the current year.

Micron Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 21st. Investors of record on Friday, October 3rd will be given a dividend of $0.115 per share. The ex-dividend date of this dividend is Friday, October 3rd. This represents a $0.46 dividend on an annualized basis and a yield of 0.3%. Micron Technology’s payout ratio is presently 8.29%.

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.