Itau Unibanco Holding S.A. Sells 18,472 Shares of Micron Technology, Inc. (NASDAQ:MU)

Itau Unibanco Holding S.A. decreased its holdings in Micron Technology, Inc. (NASDAQ:MU) by 98.2% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 343 shares of the semiconductor manufacturer’s stock after selling 18,472 shares during the period. Itau Unibanco Holding S.A.’s holdings in Micron Technology were worth $36,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in MU. Aspect Partners LLC lifted its position in Micron Technology by 39.8% in the second quarter. Aspect Partners LLC now owns 330 shares of the semiconductor manufacturer’s stock valued at $43,000 after purchasing an additional 94 shares during the last quarter. Ameritas Advisory Services LLC raised its holdings in Micron Technology by 1.3% during the 2nd quarter. Ameritas Advisory Services LLC now owns 7,625 shares of the semiconductor manufacturer’s stock valued at $1,003,000 after buying an additional 98 shares during the last quarter. Stonebrook Private Inc. raised its holdings in Micron Technology by 4.2% during the 3rd quarter. Stonebrook Private Inc. now owns 2,454 shares of the semiconductor manufacturer’s stock valued at $255,000 after buying an additional 98 shares during the last quarter. LRI Investments LLC boosted its position in Micron Technology by 57.2% during the 2nd quarter. LRI Investments LLC now owns 272 shares of the semiconductor manufacturer’s stock valued at $36,000 after buying an additional 99 shares during the period. Finally, E&G Advisors LP grew its holdings in Micron Technology by 5.2% in the 2nd quarter. E&G Advisors LP now owns 2,015 shares of the semiconductor manufacturer’s stock worth $265,000 after acquiring an additional 100 shares during the last quarter. Institutional investors own 80.84% of the company’s stock.

Micron Technology Trading Up 1.3 %

MU opened at $99.84 on Wednesday. The stock has a 50-day moving average of $103.82 and a 200 day moving average of $110.94. 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, Inc. has a 12 month low of $72.93 and a 12 month high of $157.54. The firm has a market cap of $111.23 billion, a P/E ratio of 146.83 and a beta of 1.16.

Micron Technology (NASDAQ:MU) last announced its earnings results on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 earnings per share for the quarter, beating 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 quarter in the prior year, the firm posted ($1.21) earnings per share. The business’s revenue for the quarter was up 93.3% on a year-over-year basis. As a group, research analysts forecast that Micron Technology, Inc. will post 8.31 EPS for the current year.

Micron Technology Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 23rd. Stockholders of record on Monday, October 7th were paid a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.46%. The ex-dividend date was Monday, October 7th. Micron Technology’s dividend payout ratio is currently 67.65%.

Insider Transactions at Micron Technology

In other news, EVP April S. Arnzen sold 4,890 shares of the stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $113.00, for a total transaction of $552,570.00. Following the transaction, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.30% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Needham & Company LLC reiterated a “buy” rating and issued a $140.00 price objective on shares of Micron Technology in a report on Thursday, September 26th. Robert W. Baird dropped their price target on Micron Technology from $172.00 to $150.00 and set an “outperform” rating for the company in a research note on Friday, September 27th. BNP Paribas downgraded shares of Micron Technology from an “outperform” rating to an “underperform” rating and reduced their price objective for the company from $140.00 to $67.00 in a research report on Thursday, September 12th. UBS Group dropped their target price on shares of Micron Technology from $153.00 to $135.00 and set a “buy” rating for the company in a research report on Tuesday, September 17th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $150.00 price target on shares of Micron Technology in a research report on Tuesday, October 1st. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-six have issued a buy rating to the stock. According to MarketBeat, Micron Technology currently has an average rating of “Moderate Buy” and an average target price of $143.04.

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.