Stephens Inc. AR Has $2.59 Million Stock Position in Micron Technology, Inc. (NASDAQ:MU)

Stephens Inc. AR reduced its stake in shares of Micron Technology, Inc. (NASDAQ:MU) by 37.7% in the 3rd quarter, Holdings Channel.com reports. The firm owned 24,994 shares of the semiconductor manufacturer’s stock after selling 15,102 shares during the quarter. Stephens Inc. AR’s holdings in Micron Technology were worth $2,592,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently bought and sold shares of MU. Norden Group LLC raised its stake in Micron Technology by 43.4% during the 1st quarter. Norden Group LLC now owns 3,564 shares of the semiconductor manufacturer’s stock valued at $420,000 after purchasing an additional 1,078 shares during the last quarter. Janney Montgomery Scott LLC increased its holdings in Micron Technology by 8.0% in the 1st quarter. Janney Montgomery Scott LLC now owns 109,138 shares of the semiconductor manufacturer’s stock valued at $12,866,000 after buying an additional 8,065 shares during the period. Choreo LLC bought a new stake in Micron Technology in the 1st quarter valued at $770,000. Nordea Investment Management AB increased its holdings in Micron Technology by 68.3% in the 1st quarter. Nordea Investment Management AB now owns 140,731 shares of the semiconductor manufacturer’s stock valued at $16,653,000 after buying an additional 57,103 shares during the period. Finally, Haverford Trust Co bought a new stake in Micron Technology in the 1st quarter valued at $264,000. 80.84% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

MU has been the topic of several analyst reports. Bank of America boosted their price target on shares of Micron Technology from $110.00 to $125.00 and gave the company a “buy” rating in a report on Thursday, September 26th. TD Cowen upped their target price on shares of Micron Technology from $115.00 to $135.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. Citigroup lowered their target price on shares of Micron Technology from $175.00 to $150.00 and set a “buy” rating on the stock in a report on Tuesday, September 17th. Rosenblatt Securities upped their target price on shares of Micron Technology from $225.00 to $250.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $150.00 target price on shares of Micron Technology in a report on Tuesday, October 1st. One 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 company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $143.04.

Insider Activity at Micron Technology

In related news, EVP April S. Arnzen sold 4,890 shares of the stock in a transaction that occurred 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 completion of the sale, the executive vice president now directly owns 135,830 shares of the company’s stock, valued at approximately $15,348,790. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.32% of the stock is currently owned by corporate insiders.

Micron Technology Stock Performance

Shares of NASDAQ:MU opened at $99.73 on Monday. The company has a market capitalization of $110.57 billion, a price-to-earnings ratio of 146.66 and a beta of 1.18. The firm’s 50 day simple moving average is $98.94 and its 200 day simple moving average is $113.18. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.64 and a quick ratio of 1.68. Micron Technology, Inc. has a fifty-two week low of $69.75 and a fifty-two week high of $157.54.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings results on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 earnings per share for the quarter, beating analysts’ consensus estimates of $0.97 by $0.21. The business had revenue of $7.75 billion for the quarter, compared to the consensus estimate 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 for the quarter was up 93.3% on a year-over-year basis. During the same period last year, the company posted ($1.21) EPS. As a group, sell-side analysts forecast that Micron Technology, Inc. will post 8.31 earnings per share for the current year.

Micron Technology Dividend Announcement

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

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.