BNP PARIBAS ASSET MANAGEMENT Holding S.A. Increases Stock Holdings in Micron Technology, Inc. (NASDAQ:MU)

BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its holdings in shares of Micron Technology, Inc. (NASDAQ:MU) by 8.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,375,888 shares of the semiconductor manufacturer’s stock after buying an additional 101,854 shares during the quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. owned 0.12% of Micron Technology worth $180,971,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Tidemark LLC purchased a new stake in Micron Technology during the fourth quarter valued at about $25,000. DecisionPoint Financial LLC bought a new stake in Micron Technology in the 1st quarter valued at $25,000. Pingora Partners LLC acquired a new stake in shares of Micron Technology during the 4th quarter worth approximately $26,000. Hobbs Group Advisors LLC bought a new stake in shares of Micron Technology in the 2nd quarter valued at approximately $28,000. Finally, Frank Rimerman Advisors LLC acquired a new stake in shares of Micron Technology during the 4th quarter worth about $29,000. 80.84% of the stock is owned by institutional investors.

Analyst Ratings Changes

MU has been the subject of several recent research reports. Barclays increased their price target on Micron Technology from $120.00 to $145.00 and gave the company an “overweight” rating in a research report on Monday, May 13th. KeyCorp decreased their price objective on Micron Technology from $165.00 to $145.00 and set an “overweight” rating for the company in a report on Tuesday, August 6th. Wells Fargo & Company lifted their price target on shares of Micron Technology from $135.00 to $190.00 and gave the company an “overweight” rating in a research note on Thursday, June 20th. Robert W. Baird boosted their target price on Micron Technology from $150.00 to $172.00 and gave the stock an “outperform” rating in a research note on Monday, June 24th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Micron Technology from $130.00 to $180.00 and gave the stock an “overweight” rating in a research note on Thursday, June 27th. Two research analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the stock. According to MarketBeat.com, Micron Technology currently has an average rating of “Moderate Buy” and a consensus price target of $157.12.

Insider Activity

In other Micron Technology news, CEO Sanjay Mehrotra sold 7,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $126.14, for a total transaction of $882,980.00. Following the completion of the sale, the chief executive officer now directly owns 719,049 shares of the company’s stock, valued at $90,700,840.86. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of the stock in a transaction dated Thursday, June 27th. The stock was sold at an average price of $135.86, for a total value of $664,355.40. Following the completion of the sale, the executive vice president now directly owns 142,321 shares in the company, valued at $19,335,731.06. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Sanjay Mehrotra sold 7,000 shares of Micron Technology stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $126.14, for a total transaction of $882,980.00. Following the sale, the chief executive officer now owns 719,049 shares of the company’s stock, valued at $90,700,840.86. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 53,174 shares of company stock worth $7,710,093. Corporate insiders own 0.32% of the company’s stock.

Micron Technology Trading Up 0.7 %

NASDAQ MU traded up $0.67 on Friday, hitting $96.24. The company’s stock had a trading volume of 18,807,942 shares, compared to its average volume of 21,341,953. The firm has a market cap of $106.71 billion, a PE ratio of -67.77 and a beta of 1.18. The company has a quick ratio of 2.16, a current ratio of 3.41 and a debt-to-equity ratio of 0.29. The company’s 50-day moving average is $114.32 and its 200 day moving average is $114.17. Micron Technology, Inc. has a 1-year low of $63.83 and a 1-year high of $157.54.

Micron Technology (NASDAQ:MU) last released its earnings results on Wednesday, June 26th. The semiconductor manufacturer reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.14. The company had revenue of $6.81 billion during the quarter, compared to analyst estimates of $6.67 billion. Micron Technology had a negative return on equity of 4.01% and a negative net margin of 7.20%. Micron Technology’s quarterly revenue was up 81.5% on a year-over-year basis. During the same period in the prior year, the company posted ($1.57) earnings per share. As a group, analysts predict that Micron Technology, Inc. will post 0.58 earnings per share for the current fiscal year.

Micron Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 23rd. Shareholders of record on Monday, July 8th were issued a $0.115 dividend. The ex-dividend date was Monday, July 8th. This represents a $0.46 annualized dividend and a yield of 0.48%. Micron Technology’s dividend payout ratio (DPR) is presently -32.39%.

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.