Micron Technology, Inc. (NASDAQ:MU) Stock Position Reduced by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. trimmed its position in Micron Technology, Inc. (NASDAQ:MU) by 87.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 128,294 shares of the semiconductor manufacturer’s stock after selling 862,381 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Micron Technology were worth $13,305,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in MU. Chartwell Investment Partners LLC raised its position in shares of Micron Technology by 26.4% during the 3rd 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 in the last quarter. Global X Japan Co. Ltd. raised its holdings in Micron Technology by 23.1% during the third quarter. Global X Japan Co. Ltd. now owns 51,832 shares of the semiconductor manufacturer’s stock worth $5,375,000 after purchasing an additional 9,735 shares in the last quarter. River Road Asset Management LLC lifted its position in Micron Technology by 9.1% in the third quarter. River Road Asset Management LLC now owns 163,272 shares of the semiconductor manufacturer’s stock worth $16,933,000 after purchasing an additional 13,573 shares during the period. RWQ Financial Management Services Inc. acquired a new position in shares of Micron Technology during the 3rd quarter valued at $1,270,000. Finally, Chapin Davis Inc. bought a new stake in shares of Micron Technology in the 2nd quarter worth $4,056,000. 80.84% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of the company’s stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $113.00, for a total value of $552,570.00. Following the sale, the executive vice president now owns 135,830 shares in the company, valued at approximately $15,348,790. This represents a 3.47 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.32% of the company’s stock.

Micron Technology Stock Up 4.1 %

MU stock opened at $102.43 on Friday. The company’s 50 day moving average is $102.23 and its 200 day moving average is $112.35. The stock has a market cap of $113.57 billion, a price-to-earnings ratio of 150.63 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 issued its quarterly earnings results on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 EPS for the quarter, beating analysts’ consensus estimates of $0.97 by $0.21. Micron Technology had a net margin of 3.10% and a return on equity of 1.58%. The business had revenue of $7.75 billion for the quarter, compared to analysts’ expectations of $7.65 billion. During the same period last year, the business earned ($1.21) earnings per share. The business’s quarterly revenue was up 93.3% on a year-over-year basis. Sell-side analysts predict that Micron Technology, Inc. will post 8.31 EPS for the current fiscal 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 dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a yield of 0.45%. The ex-dividend date of this dividend was Monday, October 7th. Micron Technology’s payout ratio is 67.65%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on MU shares. BNP Paribas cut shares of Micron Technology from an “outperform” rating to an “underperform” rating and lowered their price objective for the stock from $140.00 to $67.00 in a research note on Thursday, September 12th. Robert W. Baird dropped their price target on Micron Technology from $172.00 to $150.00 and set an “outperform” rating on the stock in a report on Friday, September 27th. Cantor Fitzgerald reissued an “overweight” rating and set a $150.00 price objective on shares of Micron Technology in a research note on Tuesday, October 1st. Needham & Company LLC restated a “buy” rating and issued a $140.00 target price on shares of Micron Technology in a report on Thursday, September 26th. Finally, Stifel Nicolaus reduced their target price on Micron Technology from $165.00 to $135.00 and set a “buy” rating for the company in a report on Thursday, September 19th. One investment 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 stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $143.04.

Micron Technology 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.