10,743 Shares in Micron Technology, Inc. (NASDAQ:MU) Bought by Jennison Associates LLC

Jennison Associates LLC acquired a new stake in Micron Technology, Inc. (NASDAQ:MU) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 10,743 shares of the semiconductor manufacturer’s stock, valued at approximately $1,114,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Atria Investments Inc raised its stake 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 buying an additional 93 shares in the last quarter. Aspect Partners LLC increased 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 during the last quarter. Ameritas Advisory Services LLC raised its position in shares of Micron Technology by 1.3% during the 2nd quarter. Ameritas Advisory Services LLC now owns 7,625 shares of the semiconductor manufacturer’s stock worth $1,003,000 after acquiring an additional 98 shares in the last quarter. LRI Investments LLC lifted its stake 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 purchasing an additional 99 shares during the last quarter. Finally, E&G Advisors LP boosted its holdings in Micron Technology by 5.2% in the second quarter. E&G Advisors LP now owns 2,015 shares of the semiconductor manufacturer’s stock valued at $265,000 after purchasing an additional 100 shares in the last quarter. 80.84% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently commented on the stock. BNP Paribas downgraded shares of Micron Technology from an “outperform” rating to an “underperform” rating and dropped their target price for the company from $140.00 to $67.00 in a research report on Thursday, September 12th. Needham & Company LLC reaffirmed a “buy” rating and set a $140.00 price target on shares of Micron Technology in a research report on Thursday, September 26th. Susquehanna reduced their price objective on Micron Technology from $175.00 to $165.00 and set a “positive” rating for the company in a research note on Thursday, September 26th. Raymond James raised their target price on shares of Micron Technology from $125.00 to $140.00 and gave the stock an “outperform” rating in a research report on Thursday, September 26th. Finally, KeyCorp reduced their price target on shares of Micron Technology from $145.00 to $135.00 and set an “overweight” rating for the company in a research report on Tuesday, October 8th. 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 company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $143.04.

Micron Technology Price Performance

NASDAQ:MU opened at $102.64 on Friday. 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 $113.80 billion, a price-to-earnings ratio of 150.94 and a beta of 1.18. The company’s 50-day moving average is $102.46 and its two-hundred day moving average is $112.18. The company has a current ratio of 2.64, a quick ratio of 1.68 and a debt-to-equity ratio of 0.29.

Micron Technology (NASDAQ:MU) last announced 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 for the quarter, compared to analyst estimates of $7.65 billion. Micron Technology had a net margin of 3.10% and a return on equity of 1.58%. Micron Technology’s revenue was up 93.3% compared to the same quarter last year. During the same quarter last year, the business earned ($1.21) earnings per share. Research analysts expect that Micron Technology, Inc. will post 8.31 EPS for the current year.

Micron Technology Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 23rd. Investors of record on Monday, October 7th were paid a $0.115 dividend. The ex-dividend date of this dividend was Monday, October 7th. This represents a $0.46 annualized dividend and a yield of 0.45%. Micron Technology’s payout ratio is currently 67.65%.

Insider Buying and Selling

In related news, EVP April S. Arnzen sold 4,890 shares of the company’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 transaction 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 3.47 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.32% of the stock is currently owned by company insiders.

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.