Dynamic Technology Lab Private Ltd Trims Position in Micron Technology, Inc. (NASDAQ:MU)

Dynamic Technology Lab Private Ltd reduced its position in Micron Technology, Inc. (NASDAQ:MU) by 21.9% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 26,038 shares of the semiconductor manufacturer’s stock after selling 7,312 shares during the quarter. Dynamic Technology Lab Private Ltd’s holdings in Micron Technology were worth $2,700,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. Highline Wealth Partners LLC purchased a new stake in shares of Micron Technology during the 3rd quarter worth $26,000. Hobbs Group Advisors LLC purchased a new stake in Micron Technology during the second quarter worth about $28,000. Davis Capital Management acquired a new position in Micron Technology during the third quarter worth about $30,000. Richard W. Paul & Associates LLC increased its holdings in Micron Technology by 128.6% in the second quarter. Richard W. Paul & Associates LLC now owns 256 shares of the semiconductor manufacturer’s stock valued at $34,000 after buying an additional 144 shares in the last quarter. Finally, DT Investment Partners LLC lifted its position in shares of Micron Technology by 261.1% during the 3rd quarter. DT Investment Partners LLC now owns 325 shares of the semiconductor manufacturer’s stock valued at $34,000 after acquiring an additional 235 shares during the period. 80.84% of the stock is owned by institutional investors and hedge funds.

Micron Technology Stock Down 0.1 %

Shares of NASDAQ:MU opened at $102.64 on Monday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.68 and a current ratio of 2.64. The company’s fifty day moving average is $102.46 and its two-hundred 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. The stock has a market capitalization of $113.80 billion, a price-to-earnings ratio of 150.94 and a beta of 1.18.

Micron Technology (NASDAQ:MU) last issued its quarterly earnings data 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 firm 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 firm posted ($1.21) EPS. Micron Technology’s quarterly revenue was up 93.3% compared to the same quarter last year. Equities analysts anticipate that Micron Technology, Inc. will post 8.31 EPS for the current year.

Micron Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 23rd. Stockholders of record on Monday, October 7th were issued a $0.115 dividend. This represents a $0.46 annualized dividend and a dividend yield of 0.45%. The ex-dividend date of this dividend was Monday, October 7th. Micron Technology’s dividend payout ratio (DPR) is presently 67.65%.

Analyst Ratings Changes

MU has been the subject of several research reports. Needham & Company LLC reaffirmed a “buy” rating and set a $140.00 price target on shares of Micron Technology in a research note on Thursday, September 26th. Stifel Nicolaus decreased their target price on Micron Technology from $165.00 to $135.00 and set a “buy” rating for the company in a report on Thursday, September 19th. China Renaissance started coverage on shares of Micron Technology in a research report on Monday, October 28th. They set a “buy” rating and a $148.00 price target on the stock. Wells Fargo & Company dropped their price objective on shares of Micron Technology from $190.00 to $175.00 and set an “overweight” rating for the company in a research report on Wednesday, September 18th. Finally, Wedbush restated an “outperform” rating and set a $140.00 target price on shares of Micron Technology in a report on Thursday, September 26th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-six have assigned a buy rating to the company. According to MarketBeat.com, Micron Technology has an average rating of “Moderate Buy” and an average 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 on Thursday, September 26th. The stock was sold at an average price of $113.00, for a total transaction of $552,570.00. Following the sale, the executive vice president now directly owns 135,830 shares of the company’s stock, valued at $15,348,790. The trade was a 3.47 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.32% of the stock is owned by corporate insiders.

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.