Blueshift Asset Management LLC Has $730,000 Stock Holdings in Micron Technology, Inc. (NASDAQ:MU)

Blueshift Asset Management LLC lifted its holdings in shares of Micron Technology, Inc. (NASDAQ:MU) by 44.5% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 7,038 shares of the semiconductor manufacturer’s stock after buying an additional 2,166 shares during the period. Blueshift Asset Management LLC’s holdings in Micron Technology were worth $730,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Highline Wealth Partners LLC acquired a new position in Micron Technology in the 3rd quarter worth about $26,000. Hobbs Group Advisors LLC acquired a new stake in Micron Technology during the 2nd quarter worth approximately $28,000. Davis Capital Management bought a new stake in Micron Technology during the 3rd quarter worth approximately $30,000. Richard W. Paul & Associates LLC increased its position in Micron Technology by 128.6% in the 2nd quarter. Richard W. Paul & Associates LLC now owns 256 shares of the semiconductor manufacturer’s stock valued at $34,000 after acquiring an additional 144 shares during the period. Finally, DT Investment Partners LLC raised its stake in shares of Micron Technology by 261.1% during the third quarter. DT Investment Partners LLC now owns 325 shares of the semiconductor manufacturer’s stock valued at $34,000 after acquiring an additional 235 shares during the last quarter. Institutional investors and hedge funds own 80.84% of the company’s stock.

Insider Activity at Micron Technology

In other news, EVP April S. Arnzen sold 4,890 shares of the company’s stock in a transaction dated Thursday, September 26th. The stock was 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 directly owns 135,830 shares in the company, valued at approximately $15,348,790. This represents a 3.47 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.32% of the stock is currently owned by insiders.

Micron Technology Price Performance

MU stock opened at $98.20 on Thursday. The firm has a 50 day moving average of $103.28 and a 200-day moving average of $111.80. The firm has a market capitalization of $108.88 billion, a P/E ratio of 144.41 and a beta of 1.18. Micron Technology, Inc. has a 12 month low of $72.93 and a 12 month high of $157.54. The company has a current ratio of 2.64, a quick ratio of 1.68 and a debt-to-equity ratio of 0.29.

Micron Technology (NASDAQ:MU) last released 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 firm 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 business’s revenue for the quarter was up 93.3% on a year-over-year basis. During the same period in the previous year, the business earned ($1.21) EPS. As a group, sell-side analysts predict that Micron Technology, Inc. will post 8.31 earnings per share for the current fiscal year.

Micron Technology Dividend Announcement

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

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. KeyCorp decreased 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. Wells Fargo & Company dropped their price target on shares of Micron Technology from $190.00 to $175.00 and set an “overweight” rating on the stock in a research report on Wednesday, September 18th. BNP Paribas downgraded shares of Micron Technology from an “outperform” rating to an “underperform” rating and lowered their target price for the stock from $140.00 to $67.00 in a research note on Thursday, September 12th. Citigroup decreased their price target on Micron Technology from $175.00 to $150.00 and set a “buy” rating for the company in a report on Tuesday, September 17th. Finally, Rosenblatt Securities upped their target price on Micron Technology from $225.00 to $250.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. One analyst has rated the stock with a sell rating, two have given a hold rating and twenty-six have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $143.04.

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.