Vinva Investment Management Ltd Boosts Stock Position in Micron Technology, Inc. (NASDAQ:MU)

Vinva Investment Management Ltd raised its stake in Micron Technology, Inc. (NASDAQ:MU) by 35.1% during the 3rd quarter, HoldingsChannel reports. The firm owned 50,193 shares of the semiconductor manufacturer’s stock after acquiring an additional 13,034 shares during the period. Vinva Investment Management Ltd’s holdings in Micron Technology were worth $5,396,000 as of its most recent filing with the Securities and Exchange Commission.

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

Micron Technology Price Performance

Shares of Micron Technology stock opened at $98.20 on Thursday. The stock has a market capitalization of $108.88 billion, a P/E ratio of 144.41 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. The business’s fifty day moving average price is $103.28 and its 200 day moving average price is $111.80. Micron Technology, Inc. has a twelve month low of $72.93 and a twelve month high of $157.54.

Micron Technology (NASDAQ:MU) last issued its earnings results on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.97 by $0.21. Micron Technology had a return on equity of 1.58% and a net margin of 3.10%. The business had revenue of $7.75 billion during the quarter, compared to analysts’ expectations of $7.65 billion. During the same quarter in the previous year, the business earned ($1.21) EPS. The company’s revenue for the quarter was up 93.3% on a year-over-year basis. As a group, research analysts anticipate that Micron Technology, Inc. will post 8.31 earnings per share for the current 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. The ex-dividend date of this dividend was Monday, October 7th. This represents a $0.46 annualized dividend and a dividend yield of 0.47%. Micron Technology’s payout ratio is 67.65%.

Insider Buying and Selling

In other Micron Technology 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 value of $552,570.00. Following the completion of the transaction, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.32% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms recently commented on MU. Needham & Company LLC reissued a “buy” rating and set a $140.00 price objective on shares of Micron Technology in a report on Thursday, September 26th. TD Cowen upped their price target on Micron Technology from $115.00 to $135.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. Wedbush reiterated an “outperform” rating and set a $140.00 target price on shares of Micron Technology in a research report on Thursday, September 26th. BNP Paribas lowered Micron Technology from an “outperform” rating to an “underperform” rating and lowered their target price for the company from $140.00 to $67.00 in a report on Thursday, September 12th. Finally, Robert W. Baird decreased their price objective on shares of Micron Technology from $172.00 to $150.00 and set an “outperform” rating on the stock in a research report on Friday, September 27th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and twenty-six have given a buy rating to the company. According to MarketBeat, Micron Technology presently has a consensus 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.