KBC Group NV Has $36.70 Million Holdings in Micron Technology, Inc. (NASDAQ:MU)

KBC Group NV cut its holdings in Micron Technology, Inc. (NASDAQ:MU) by 36.4% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 353,873 shares of the semiconductor manufacturer’s stock after selling 202,535 shares during the period. KBC Group NV’s holdings in Micron Technology were worth $36,700,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the business. Huntington National Bank grew its stake in Micron Technology by 73.6% in the 3rd quarter. Huntington National Bank now owns 231,578 shares of the semiconductor manufacturer’s stock valued at $24,017,000 after buying an additional 98,152 shares during the last quarter. Bouvel Investment Partners LLC acquired a new stake in shares of Micron Technology in the third quarter valued at about $3,219,000. Plato Investment Management Ltd increased its stake in shares of Micron Technology by 22.1% in the third quarter. Plato Investment Management Ltd now owns 24,983 shares of the semiconductor manufacturer’s stock worth $2,588,000 after purchasing an additional 4,523 shares during the period. ICICI Prudential Asset Management Co Ltd lifted its position in shares of Micron Technology by 19.0% during the 3rd quarter. ICICI Prudential Asset Management Co Ltd now owns 14,475 shares of the semiconductor manufacturer’s stock worth $1,501,000 after purchasing an additional 2,311 shares during the last quarter. Finally, Kovack Advisors Inc. boosted its stake in Micron Technology by 13.1% during the 3rd quarter. Kovack Advisors Inc. now owns 5,412 shares of the semiconductor manufacturer’s stock valued at $561,000 after purchasing an additional 628 shares during the period. 80.84% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, EVP April S. Arnzen sold 4,890 shares of Micron Technology stock in a transaction dated 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 approximately $15,348,790. This trade represents a 3.47 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.32% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on MU shares. Needham & Company LLC reiterated a “buy” rating and issued a $140.00 target price on shares of Micron Technology in a research note on Thursday, September 26th. KeyCorp dropped their target price 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. Bank of America increased their target price on Micron Technology from $110.00 to $125.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. UBS Group reduced their price objective on Micron Technology from $153.00 to $135.00 and set a “buy” rating on the stock in a report on Tuesday, September 17th. Finally, China Renaissance initiated coverage on shares of Micron Technology in a research note on Monday, October 28th. They issued a “buy” rating and a $148.00 target price on the stock. One research analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-six have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $143.04.

Micron Technology Stock Performance

Shares of NASDAQ MU opened at $99.18 on Friday. The stock has a 50 day moving average of $100.93 and a 200-day moving average of $112.94. Micron Technology, Inc. has a 12 month low of $72.93 and a 12 month high of $157.54. The company has a market capitalization of $109.96 billion, a P/E ratio of 145.86 and a beta of 1.18. 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 issued its quarterly earnings data on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 EPS for the quarter, beating 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 return on equity of 1.58% and a net margin of 3.10%. The company’s revenue for the quarter was up 93.3% on a year-over-year basis. During the same period in the prior year, the firm posted ($1.21) EPS. As a group, equities research analysts predict that Micron Technology, Inc. will post 8.31 EPS 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 dividend of $0.115 per share. The ex-dividend date of this dividend was Monday, October 7th. This represents a $0.46 annualized dividend 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.