Donald Smith & CO. Inc. Sells 11,324 Shares of Micron Technology, Inc. (NASDAQ:MU)

Donald Smith & CO. Inc. reduced its holdings in shares of Micron Technology, Inc. (NASDAQ:MU) by 3.0% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 361,344 shares of the semiconductor manufacturer’s stock after selling 11,324 shares during the quarter. Donald Smith & CO. Inc.’s holdings in Micron Technology were worth $37,475,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Atria Investments Inc grew its position in Micron Technology by 0.3% in the first quarter. Atria Investments Inc now owns 27,749 shares of the semiconductor manufacturer’s stock valued at $3,269,000 after purchasing an additional 93 shares in the last quarter. Aspect Partners LLC grew its holdings in shares of Micron Technology by 39.8% in the 2nd quarter. Aspect Partners LLC now owns 330 shares of the semiconductor manufacturer’s stock valued at $43,000 after acquiring an additional 94 shares in the last quarter. Ameritas Advisory Services LLC grew its holdings in shares of Micron Technology by 1.3% in the 2nd quarter. Ameritas Advisory Services LLC now owns 7,625 shares of the semiconductor manufacturer’s stock valued at $1,003,000 after acquiring an additional 98 shares in the last quarter. LRI Investments LLC raised its holdings in Micron Technology by 57.2% during the second quarter. LRI Investments LLC now owns 272 shares of the semiconductor manufacturer’s stock worth $36,000 after acquiring an additional 99 shares in the last quarter. Finally, Retirement Group LLC boosted its position in Micron Technology by 37.3% during the first quarter. Retirement Group LLC now owns 368 shares of the semiconductor manufacturer’s stock valued at $43,000 after purchasing an additional 100 shares during the last quarter. 80.84% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Micron Technology

In other news, EVP April S. Arnzen sold 4,890 shares of the stock in a transaction dated Thursday, September 26th. The shares were 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 owns 135,830 shares of the company’s stock, valued at approximately $15,348,790. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.32% of the company’s stock.

Micron Technology Price Performance

Shares of MU traded down $2.63 during trading hours on Wednesday, hitting $105.55. 3,509,241 shares of the company were exchanged, compared to its average volume of 21,911,908. The company has a market cap of $117.04 billion, a price-to-earnings ratio of -76.18 and a beta of 1.18. The firm’s fifty day moving average is $99.18 and its 200 day moving average is $113.58. Micron Technology, Inc. has a fifty-two week low of $65.26 and a fifty-two week high of $157.54. The company has a quick ratio of 1.68, a current ratio of 2.64 and a debt-to-equity ratio of 0.29.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings data on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.97 by $0.21. The firm had revenue of $7.75 billion for the quarter, compared to the consensus estimate 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 prior year, the company posted ($1.21) earnings per share. On average, equities analysts anticipate that Micron Technology, Inc. will post 8.31 earnings per share for the current fiscal year.

Micron Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 23rd. Shareholders of record on Monday, October 7th were paid a dividend of $0.115 per share. This represents a $0.46 annualized dividend and a yield of 0.44%. The ex-dividend date was Monday, October 7th. Micron Technology’s payout ratio is presently -32.39%.

Analyst Ratings Changes

Several research analysts have weighed in on MU shares. Wedbush reaffirmed an “outperform” rating and set a $140.00 price target on shares of Micron Technology in a research report on Thursday, September 26th. Bank of America upped their price target on shares of Micron Technology from $110.00 to $125.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. Needham & Company LLC reissued a “buy” rating and issued a $140.00 price objective on shares of Micron Technology in a research report on Thursday, September 26th. BNP Paribas downgraded shares of Micron Technology from an “outperform” rating to an “underperform” rating and cut their target price for the company from $140.00 to $67.00 in a research note on Thursday, September 12th. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $150.00 price target on shares of Micron Technology in a research report on Tuesday, October 1st. 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. According to data from MarketBeat, Micron Technology presently has a consensus rating of “Moderate Buy” and an average price target of $143.04.

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.