Micron Technology, Inc. (NASDAQ:MU) Shares Bought by Banque Cantonale Vaudoise

Banque Cantonale Vaudoise grew its stake in shares of Micron Technology, Inc. (NASDAQ:MU) by 66.8% in the third quarter, Holdings Channel.com reports. The fund owned 19,788 shares of the semiconductor manufacturer’s stock after buying an additional 7,928 shares during the quarter. Banque Cantonale Vaudoise’s holdings in Micron Technology were worth $2,051,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of MU. Bessemer Group Inc. boosted its position in Micron Technology by 2.8% during the first quarter. Bessemer Group Inc. now owns 12,635 shares of the semiconductor manufacturer’s stock valued at $1,489,000 after purchasing an additional 340 shares during the last quarter. EntryPoint Capital LLC acquired a new stake in Micron Technology during the first quarter valued at $41,000. CreativeOne Wealth LLC boosted its position in Micron Technology by 22.3% during the first quarter. CreativeOne Wealth LLC now owns 4,857 shares of the semiconductor manufacturer’s stock valued at $573,000 after purchasing an additional 886 shares during the last quarter. EP Wealth Advisors LLC boosted its position in Micron Technology by 16.5% during the first quarter. EP Wealth Advisors LLC now owns 11,662 shares of the semiconductor manufacturer’s stock valued at $1,375,000 after purchasing an additional 1,648 shares during the last quarter. Finally, Axxcess Wealth Management LLC boosted its position in Micron Technology by 255.0% during the first quarter. Axxcess Wealth Management LLC now owns 12,767 shares of the semiconductor manufacturer’s stock valued at $1,505,000 after purchasing an additional 9,171 shares during the last quarter. Institutional investors and hedge funds own 80.84% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on MU. Citigroup reduced their price target on Micron Technology from $175.00 to $150.00 and set a “buy” rating for the company in a research report on Tuesday, September 17th. China Renaissance started coverage on Micron Technology in a research report on Monday, October 28th. They issued a “buy” rating and a $148.00 price target for the company. 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 note on Thursday, September 26th. KeyCorp dropped their price objective on Micron Technology from $145.00 to $135.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 8th. Finally, Wells Fargo & Company dropped their price objective on Micron Technology from $190.00 to $175.00 and set an “overweight” rating on the stock in a research note on Wednesday, September 18th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-six have issued a buy rating to the stock. According to MarketBeat.com, Micron Technology presently has an average rating of “Moderate Buy” and a consensus target price of $143.04.

Micron Technology Price Performance

MU opened at $98.37 on Thursday. 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, Inc. has a 12 month low of $72.93 and a 12 month high of $157.54. The company has a fifty day simple moving average of $101.93 and a 200 day simple moving average of $112.42. The stock has a market cap of $109.07 billion, a P/E ratio of 144.66 and a beta of 1.18.

Micron Technology (NASDAQ:MU) last released its earnings results 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 during the quarter, compared to analysts’ expectations of $7.65 billion. Micron Technology had a return on equity of 1.58% and a net margin of 3.10%. The company’s revenue was up 93.3% on a year-over-year basis. During the same quarter in the prior year, the company earned ($1.21) EPS. On average, research analysts expect that Micron Technology, Inc. will post 8.31 EPS for the current year.

Micron Technology Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 23rd. Shareholders of record on Monday, October 7th were issued a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis 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%.

Insider Transactions at Micron Technology

In related news, EVP April S. Arnzen sold 4,890 shares of the firm’s 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 sale, the executive vice president now directly owns 135,830 shares in the company, valued at approximately $15,348,790. This trade represents a 3.47 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.32% of the company’s stock.

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.