E. Ohman J or Asset Management AB Trims Stake in Micron Technology, Inc. (NASDAQ:MU)

E. Ohman J or Asset Management AB lessened its stake in shares of Micron Technology, Inc. (NASDAQ:MU) by 5.1% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 44,900 shares of the semiconductor manufacturer’s stock after selling 2,400 shares during the quarter. E. Ohman J or Asset Management AB’s holdings in Micron Technology were worth $4,657,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in the stock. Atria Investments Inc boosted its position in shares of Micron Technology by 0.3% in the first quarter. Atria Investments Inc now owns 27,749 shares of the semiconductor manufacturer’s stock worth $3,269,000 after acquiring an additional 93 shares during the last quarter. Aspect Partners LLC raised its stake in shares of Micron Technology by 39.8% during 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 period. Ameritas Advisory Services LLC increased its stake 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 worth $1,003,000 after buying an additional 98 shares during the period. LRI Investments LLC lifted its holdings in Micron Technology by 57.2% in the 2nd quarter. LRI Investments LLC now owns 272 shares of the semiconductor manufacturer’s stock worth $36,000 after buying an additional 99 shares in the last quarter. Finally, Retirement Group LLC boosted its position in Micron Technology by 37.3% in the 1st quarter. Retirement Group LLC now owns 368 shares of the semiconductor manufacturer’s stock valued at $43,000 after buying an additional 100 shares during the last quarter. 80.84% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have issued reports on MU shares. Robert W. Baird dropped their price objective on Micron Technology from $172.00 to $150.00 and set an “outperform” rating on the stock in a report on Friday, September 27th. Susquehanna cut their price target on shares of Micron Technology from $175.00 to $165.00 and set a “positive” rating on the stock in a report on Thursday, September 26th. TD Cowen raised their price objective 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. Wedbush restated an “outperform” rating and issued a $140.00 target price on shares of Micron Technology in a research note on Thursday, September 26th. Finally, The Goldman Sachs Group lifted their price target on Micron Technology from $138.00 to $158.00 and gave the stock a “buy” rating in a research note on Thursday, June 27th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $142.85.

Insider Buying and Selling at Micron Technology

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of Micron Technology 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 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.32% of the stock is owned by corporate insiders.

Micron Technology Price Performance

Shares of MU opened at $106.85 on Friday. The stock’s fifty day moving average is $99.23 and its 200-day moving average is $114.10. The firm has a market capitalization of $118.48 billion, a price-to-earnings ratio of -75.25 and a beta of 1.18. Micron Technology, Inc. has a one year low of $63.88 and a one year high of $157.54. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.68 and a current ratio of 2.64.

Micron Technology (NASDAQ:MU) last issued its quarterly earnings results on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.97 by $0.21. Micron Technology had a return on equity of 1.58% and a net margin of 3.10%. The firm had revenue of $7.75 billion during the quarter, compared to analyst estimates of $7.65 billion. During the same period last year, the company posted ($1.21) EPS. The firm’s quarterly revenue was up 93.3% on a year-over-year basis. Equities analysts anticipate that Micron Technology, Inc. will post 8.31 EPS for the current year.

Micron Technology Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 23rd. Shareholders of record on Monday, October 7th were given a $0.115 dividend. This represents a $0.46 annualized dividend and a yield of 0.43%. The ex-dividend date was Monday, October 7th. Micron Technology’s dividend payout ratio (DPR) is presently -32.39%.

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.