10,743 Shares in Micron Technology, Inc. (NASDAQ:MU) Acquired by Jennison Associates LLC

Jennison Associates LLC purchased a new stake in shares of Micron Technology, Inc. (NASDAQ:MU) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 10,743 shares of the semiconductor manufacturer’s stock, valued at approximately $1,114,000.

Several other institutional investors also recently bought and sold shares of MU. Highline Wealth Partners LLC acquired a new stake in shares of Micron Technology in the third quarter valued at about $26,000. Hobbs Group Advisors LLC purchased a new position in Micron Technology in the 2nd quarter worth approximately $28,000. Davis Capital Management acquired a new stake in Micron Technology in the third quarter valued at approximately $30,000. Richard W. Paul & Associates LLC raised its stake in shares of Micron Technology by 128.6% during the second quarter. Richard W. Paul & Associates LLC now owns 256 shares of the semiconductor manufacturer’s stock valued at $34,000 after purchasing an additional 144 shares during the period. Finally, DT Investment Partners LLC lifted its position 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 worth $34,000 after purchasing an additional 235 shares in the last quarter. 80.84% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Micron Technology

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 completion of the sale, the executive vice president now directly owns 135,830 shares in the company, valued at $15,348,790. This represents a 3.47 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.32% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on MU shares. Citigroup dropped their price target on shares of Micron Technology from $175.00 to $150.00 and set a “buy” rating on the stock in a research note on Tuesday, September 17th. Wells Fargo & Company dropped their target price on Micron Technology from $190.00 to $175.00 and set an “overweight” rating on the stock in a research report on Wednesday, September 18th. Susquehanna reduced their price target on Micron Technology from $175.00 to $165.00 and set a “positive” rating for the company in a report on Thursday, September 26th. TD Cowen lifted their price objective on Micron Technology from $115.00 to $135.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. Finally, Rosenblatt Securities increased their target price on Micron Technology from $225.00 to $250.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. One analyst has rated the stock with a sell rating, two have given a hold rating and twenty-six have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $143.04.

Micron Technology Price Performance

NASDAQ MU opened at $102.64 on Friday. The company has a 50-day moving average price of $102.46 and a two-hundred day moving average price of $112.18. Micron Technology, Inc. has a 52 week low of $72.93 and a 52 week high of $157.54. The stock has a market cap of $113.80 billion, a price-to-earnings ratio of 150.94 and a beta of 1.18. 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 posted its earnings results on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 EPS for the quarter, beating the consensus estimate of $0.97 by $0.21. Micron Technology had a return on equity of 1.58% and a net margin of 3.10%. The firm had revenue of $7.75 billion for the quarter, compared to analysts’ expectations of $7.65 billion. During the same period last year, the firm earned ($1.21) EPS. The firm’s revenue was up 93.3% compared to the same quarter last year. Analysts forecast that Micron Technology, Inc. will post 8.31 EPS for the current year.

Micron Technology Announces Dividend

The business 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 annualized dividend and a yield of 0.45%. The ex-dividend date was Monday, October 7th. Micron Technology’s payout ratio is currently 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.