Micron Technology, Inc. (NASDAQ:MU) Shares Sold by HighVista Strategies LLC

HighVista Strategies LLC lessened its stake in Micron Technology, Inc. (NASDAQ:MU) by 33.6% during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 8,900 shares of the semiconductor manufacturer’s stock after selling 4,500 shares during the quarter. HighVista Strategies LLC’s holdings in Micron Technology were worth $1,171,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of the stock. Clearbridge Investments LLC increased its stake in Micron Technology by 1.1% during the first quarter. Clearbridge Investments LLC now owns 1,931,811 shares of the semiconductor manufacturer’s stock valued at $227,741,000 after purchasing an additional 20,741 shares during the last quarter. Chapin Davis Inc. bought a new position in Micron Technology in the second quarter worth about $4,056,000. Norden Group LLC boosted its stake in Micron Technology by 1,916.7% in the first quarter. Norden Group LLC now owns 50,134 shares of the semiconductor manufacturer’s stock valued at $5,910,000 after acquiring an additional 47,648 shares during the period. Gulf International Bank UK Ltd grew its holdings in shares of Micron Technology by 6.3% during the first quarter. Gulf International Bank UK Ltd now owns 99,839 shares of the semiconductor manufacturer’s stock valued at $11,770,000 after purchasing an additional 5,958 shares during the last quarter. Finally, Westwood Holdings Group Inc. acquired a new stake in shares of Micron Technology during the 1st quarter worth approximately $8,558,000. Institutional investors own 80.84% of the company’s stock.

Wall Street Analysts Forecast Growth

MU has been the subject of a number of recent research reports. The Goldman Sachs Group upped their price objective on Micron Technology from $138.00 to $158.00 and gave the stock a “buy” rating in a research note on Thursday, June 27th. Raymond James dropped their price objective on shares of Micron Technology from $160.00 to $125.00 and set an “outperform” rating on the stock in a report on Thursday, September 12th. Stifel Nicolaus reduced their target price on shares of Micron Technology from $165.00 to $135.00 and set a “buy” rating for the company in a research note on Thursday. 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 note on Wednesday, September 18th. Finally, BNP Paribas downgraded Micron Technology from an “outperform” rating to an “underperform” rating and reduced their price objective for the stock from $140.00 to $67.00 in a research report on Thursday, September 12th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-five have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $145.65.

Insider Buying and Selling at Micron Technology

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of the stock in a transaction that occurred on Thursday, June 27th. The stock was sold at an average price of $135.86, for a total transaction of $664,355.40. Following the transaction, the executive vice president now owns 142,321 shares in the company, valued at $19,335,731.06. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 0.32% of the company’s stock.

Micron Technology Price Performance

MU stock opened at $90.90 on Monday. Micron Technology, Inc. has a one year low of $63.83 and a one year high of $157.54. The firm has a 50-day moving average of $99.81 and a two-hundred day moving average of $114.83. The firm has a market capitalization of $100.79 billion, a PE ratio of -64.01 and a beta of 1.17. The company has a current ratio of 3.41, a quick ratio of 2.16 and a debt-to-equity ratio of 0.29.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings data on Wednesday, June 26th. The semiconductor manufacturer reported $0.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.14. The firm had revenue of $6.81 billion during the quarter, compared to the consensus estimate of $6.67 billion. Micron Technology had a negative return on equity of 4.01% and a negative net margin of 7.20%. The business’s revenue for the quarter was up 81.5% on a year-over-year basis. During the same period in the prior year, the business earned ($1.57) EPS. On average, analysts forecast that Micron Technology, Inc. will post 0.61 earnings per share for the current year.

Micron Technology Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 23rd. Shareholders of record on Monday, July 8th were paid a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.51%. The ex-dividend date was Monday, July 8th. Micron Technology’s dividend payout ratio (DPR) is currently -32.39%.

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.