KBC Group NV Sells 202,535 Shares of Micron Technology, Inc. (NASDAQ:MU)

KBC Group NV lowered its stake in Micron Technology, Inc. (NASDAQ:MU) by 36.4% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 353,873 shares of the semiconductor manufacturer’s stock after selling 202,535 shares during the quarter. KBC Group NV’s holdings in Micron Technology were worth $36,700,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Highline Wealth Partners LLC purchased a new stake in Micron Technology in the 3rd quarter valued at $26,000. Hobbs Group Advisors LLC purchased a new stake in shares of Micron Technology during the 2nd quarter valued at about $28,000. Davis Capital Management bought a new position in shares of Micron Technology in the 3rd quarter valued at about $30,000. Richard W. Paul & Associates LLC grew its position in Micron Technology by 128.6% in the second quarter. Richard W. Paul & Associates LLC now owns 256 shares of the semiconductor manufacturer’s stock worth $34,000 after acquiring an additional 144 shares in the last quarter. Finally, DT Investment Partners LLC increased its stake in Micron Technology by 261.1% during the third quarter. DT Investment Partners LLC now owns 325 shares of the semiconductor manufacturer’s stock worth $34,000 after acquiring an additional 235 shares during the last quarter. Institutional investors own 80.84% of the company’s stock.

Insider Buying and Selling

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of the firm’s 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 completion of the sale, the executive vice president now directly owns 135,830 shares in the company, valued at $15,348,790. This trade represents a 3.47 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.32% of the stock is currently owned by company insiders.

Micron Technology Stock Down 0.7 %

Shares of Micron Technology stock opened at $99.18 on Friday. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.64 and a quick ratio of 1.68. The stock has a market cap of $109.96 billion, a price-to-earnings ratio of 145.86 and a beta of 1.18. The firm’s 50-day moving average is $100.93 and its two-hundred day moving average is $112.94. Micron Technology, Inc. has a 1 year low of $72.93 and a 1 year high of $157.54.

Micron Technology (NASDAQ:MU) last released its quarterly earnings data 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. The firm had revenue of $7.75 billion for the quarter, compared to the consensus estimate of $7.65 billion. Micron Technology had a net margin of 3.10% and a return on equity of 1.58%. The company’s quarterly revenue was up 93.3% on a year-over-year basis. During the same period last year, the firm earned ($1.21) earnings per share. As a group, research analysts expect that Micron Technology, Inc. will post 8.31 earnings per share for the current fiscal year.

Micron Technology Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 23rd. Stockholders of record on Monday, October 7th were given a $0.115 dividend. This represents a $0.46 annualized dividend and a dividend yield of 0.46%. The ex-dividend date was Monday, October 7th. Micron Technology’s payout ratio is 67.65%.

Wall Street Analysts Forecast Growth

MU has been the subject of a number of recent research reports. Cantor Fitzgerald reiterated an “overweight” rating and issued a $150.00 target price on shares of Micron Technology in a report on Tuesday, October 1st. Raymond James lifted their price objective on shares of Micron Technology from $125.00 to $140.00 and gave the stock an “outperform” rating in a research note on Thursday, September 26th. China Renaissance started 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. Citigroup dropped their price target on shares of Micron Technology from $175.00 to $150.00 and set a “buy” rating for the company in a research note on Tuesday, September 17th. Finally, Wells Fargo & Company reduced their price objective on shares of Micron Technology from $190.00 to $175.00 and set an “overweight” rating on the stock in a research report on Wednesday, September 18th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-six have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $143.04.

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.