Penserra Capital Management LLC Acquires 5,740 Shares of Micron Technology, Inc. (NASDAQ:MU)

Penserra Capital Management LLC raised its holdings in shares of Micron Technology, Inc. (NASDAQ:MU) by 12.2% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 52,832 shares of the semiconductor manufacturer’s stock after purchasing an additional 5,740 shares during the quarter. Penserra Capital Management LLC’s holdings in Micron Technology were worth $5,477,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Algert Global LLC increased its stake in shares of Micron Technology by 349.4% during the third quarter. Algert Global LLC now owns 11,092 shares of the semiconductor manufacturer’s stock worth $1,150,000 after purchasing an additional 8,624 shares during the period. Cerity Partners LLC boosted its stake in Micron Technology by 58.6% in the 3rd quarter. Cerity Partners LLC now owns 94,515 shares of the semiconductor manufacturer’s stock valued at $9,802,000 after purchasing an additional 34,938 shares during the period. Great Valley Advisor Group Inc. grew its holdings in Micron Technology by 31.0% in the 3rd quarter. Great Valley Advisor Group Inc. now owns 12,357 shares of the semiconductor manufacturer’s stock valued at $1,282,000 after buying an additional 2,926 shares in the last quarter. Camden National Bank bought a new position in Micron Technology during the 3rd quarter worth $363,000. Finally, Stonebrook Private Inc. lifted its holdings in shares of Micron Technology by 4.2% during the third quarter. Stonebrook Private Inc. now owns 2,454 shares of the semiconductor manufacturer’s stock worth $255,000 after buying an additional 98 shares in the last quarter. 80.84% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

MU has been the topic of several research reports. Raymond James upped their price target on shares of Micron Technology from $125.00 to $140.00 and gave the company an “outperform” rating in a research note on Thursday, September 26th. Bank of America increased their target price 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. Stifel Nicolaus cut their price target on Micron Technology from $165.00 to $135.00 and set a “buy” rating for the company in a research note on Thursday, September 19th. Susquehanna reduced their price target on Micron Technology from $175.00 to $165.00 and set a “positive” rating on the stock in a research report on Thursday, September 26th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $150.00 price objective on shares of Micron Technology in a report on Tuesday, October 1st. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-six have given a buy rating to the company. According to MarketBeat.com, Micron Technology has a consensus rating of “Moderate Buy” and a consensus price target of $143.04.

Insider Buying and Selling

In other news, EVP April S. Arnzen sold 4,890 shares of the business’s stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $113.00, for a total value of $552,570.00. Following the transaction, the executive vice president now owns 135,830 shares in the company, valued at approximately $15,348,790. The trade was a 3.47 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.32% of the stock is owned by corporate insiders.

Micron Technology Trading Down 0.1 %

Shares of Micron Technology stock opened at $102.64 on Monday. The firm has a market capitalization of $113.80 billion, a PE 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. The firm’s 50 day moving average is $102.46 and its 200 day moving average is $112.13. Micron Technology, Inc. has a 1 year low of $72.93 and a 1 year high of $157.54.

Micron Technology (NASDAQ:MU) last posted its earnings results on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 EPS for the quarter, topping the consensus estimate of $0.97 by $0.21. Micron Technology had a net margin of 3.10% and a return on equity of 1.58%. The business had revenue of $7.75 billion for the quarter, compared to the consensus estimate of $7.65 billion. During the same period last year, the company earned ($1.21) EPS. The firm’s revenue was up 93.3% compared to the same quarter last year. Equities research analysts forecast 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. Investors of record on Monday, October 7th were given a dividend of $0.115 per share. The ex-dividend date was Monday, October 7th. This represents a $0.46 annualized dividend and a yield of 0.45%. Micron Technology’s dividend payout ratio is presently 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.