Micron Technology, Inc. (NASDAQ:MU) Shares Acquired by Tidal Investments LLC

Tidal Investments LLC lifted its stake in shares of Micron Technology, Inc. (NASDAQ:MU) by 0.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 106,840 shares of the semiconductor manufacturer’s stock after purchasing an additional 420 shares during the quarter. Tidal Investments LLC’s holdings in Micron Technology were worth $11,080,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Harmony Asset Management LLC raised its stake in shares of Micron Technology by 75.6% during the third quarter. Harmony Asset Management LLC now owns 11,889 shares of the semiconductor manufacturer’s stock worth $1,233,000 after purchasing an additional 5,120 shares during the last quarter. Lazard Freres Gestion S.A.S. raised its stake in shares of Micron Technology by 241.7% during the third quarter. Lazard Freres Gestion S.A.S. now owns 41,000 shares of the semiconductor manufacturer’s stock worth $4,252,000 after purchasing an additional 29,000 shares during the last quarter. Chartwell Investment Partners LLC raised its stake in shares of Micron Technology by 26.4% during the third quarter. Chartwell Investment Partners LLC now owns 195,115 shares of the semiconductor manufacturer’s stock worth $20,236,000 after purchasing an additional 40,802 shares during the last quarter. State Street Corp raised its stake in shares of Micron Technology by 3.1% during the third 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 during the last quarter. Finally, Global X Japan Co. Ltd. raised its position in Micron Technology by 23.1% in the third quarter. Global X Japan Co. Ltd. now owns 51,832 shares of the semiconductor manufacturer’s stock worth $5,375,000 after acquiring an additional 9,735 shares in the last quarter. Hedge funds and other institutional investors own 80.84% of the company’s stock.

Insider Buying and Selling

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

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Stifel Nicolaus cut their price objective on Micron Technology from $165.00 to $135.00 and set a “buy” rating for the company in a research report on Thursday, September 19th. KeyCorp cut their price target on Micron Technology from $145.00 to $135.00 and set an “overweight” rating for the company in a research note on Tuesday, October 8th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $150.00 price target on shares of Micron Technology in a research note on Tuesday, October 1st. TD Cowen lifted their price objective on Micron Technology from $115.00 to $135.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. Finally, Morgan Stanley lifted their price objective 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. 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 stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $143.04.

Micron Technology Stock Down 3.7 %

Shares of NASDAQ:MU opened at $98.24 on Friday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.68 and a current ratio of 2.64. Micron Technology, Inc. has a 1 year low of $78.03 and a 1 year high of $157.54. The stock has a market capitalization of $109.44 billion, a P/E ratio of 144.47 and a beta of 1.16. The stock has a 50-day simple moving average of $103.57 and a 200-day simple moving average of $109.87.

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

Micron Technology Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 23rd. Investors of record on Monday, October 7th were given a dividend of $0.115 per share. This represents a $0.46 annualized dividend 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 presently 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.