Managed Asset Portfolios LLC Has $13.12 Million Stock Position in Micron Technology, Inc. (NASDAQ:MU)

Managed Asset Portfolios LLC reduced its position in Micron Technology, Inc. (NASDAQ:MU) by 37.2% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 126,518 shares of the semiconductor manufacturer’s stock after selling 75,072 shares during the period. Micron Technology comprises about 1.9% of Managed Asset Portfolios LLC’s holdings, making the stock its 24th largest position. Managed Asset Portfolios LLC’s holdings in Micron Technology were worth $13,121,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Chartwell Investment Partners LLC lifted its position in shares of Micron Technology by 26.4% in the third quarter. Chartwell Investment Partners LLC now owns 195,115 shares of the semiconductor manufacturer’s stock worth $20,236,000 after buying an additional 40,802 shares during the last quarter. Global X Japan Co. Ltd. boosted its holdings in Micron Technology by 23.1% in the 3rd quarter. Global X Japan Co. Ltd. now owns 51,832 shares of the semiconductor manufacturer’s stock valued at $5,375,000 after purchasing an additional 9,735 shares during the period. River Road Asset Management LLC grew its position in Micron Technology by 9.1% during the third quarter. River Road Asset Management LLC now owns 163,272 shares of the semiconductor manufacturer’s stock worth $16,933,000 after buying an additional 13,573 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Micron Technology by 1.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 6,721,126 shares of the semiconductor manufacturer’s stock worth $697,048,000 after purchasing an additional 65,591 shares in the last quarter. Finally, RWQ Financial Management Services Inc. acquired a new stake in Micron Technology during the third quarter worth $1,270,000. Institutional investors own 80.84% of the company’s stock.

Insider Buying and Selling at Micron Technology

In other news, EVP April S. Arnzen sold 4,890 shares of the company’s 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 sale, the executive vice president now owns 135,830 shares in the company, valued at $15,348,790. This represents a 3.47 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 0.32% of the company’s stock.

Micron Technology Price Performance

Shares of NASDAQ MU opened at $102.64 on Friday. The company has a fifty day moving average price of $102.46 and a 200 day moving average price of $112.18. The firm has a market cap of $113.80 billion, a PE ratio of 150.94 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, Inc. has a 1-year low of $72.93 and a 1-year high of $157.54.

Micron Technology (NASDAQ:MU) last posted its quarterly earnings data on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 earnings per share for the quarter, topping the consensus estimate of $0.97 by $0.21. The company had revenue of $7.75 billion during the quarter, compared to analysts’ expectations of $7.65 billion. Micron Technology had a return on equity of 1.58% and a net margin of 3.10%. Micron Technology’s revenue for the quarter was up 93.3% compared to the same quarter last year. During the same period in the prior year, the firm earned ($1.21) earnings per share. Research analysts predict that Micron Technology, Inc. will post 8.31 earnings per share for the current fiscal 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 issued a dividend of $0.115 per share. This represents a $0.46 annualized dividend and a yield of 0.45%. The ex-dividend date was Monday, October 7th. Micron Technology’s payout ratio is 67.65%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on MU. Wells Fargo & Company decreased their price objective on Micron Technology from $190.00 to $175.00 and set an “overweight” rating on the stock in a report on Wednesday, September 18th. Morgan Stanley increased their price objective on shares of Micron Technology from $100.00 to $114.00 and gave the stock an “equal weight” rating in a report on Thursday, September 26th. China Renaissance assumed coverage on Micron Technology in a research note on Monday, October 28th. They issued a “buy” rating and a $148.00 target price for the company. Bank of America upped their price target on Micron Technology from $110.00 to $125.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. Finally, UBS Group lowered their price objective on Micron Technology from $153.00 to $135.00 and set a “buy” rating for the company in a research report on Tuesday, September 17th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and twenty-six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Micron Technology currently has a consensus rating of “Moderate Buy” and a consensus price target of $143.04.

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.