OVERSEA CHINESE BANKING Corp Ltd Has $3.95 Million Stake in Micron Technology, Inc. (NASDAQ:MU)

OVERSEA CHINESE BANKING Corp Ltd reduced its holdings in Micron Technology, Inc. (NASDAQ:MU) by 67.9% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 36,240 shares of the semiconductor manufacturer’s stock after selling 76,738 shares during the period. OVERSEA CHINESE BANKING Corp Ltd’s holdings in Micron Technology were worth $3,952,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Chartwell Investment Partners LLC lifted its holdings in Micron Technology by 26.4% during the third quarter. Chartwell Investment Partners LLC now owns 195,115 shares of the semiconductor manufacturer’s stock worth $20,236,000 after acquiring an additional 40,802 shares in the last quarter. Clearbridge Investments LLC lifted its holdings in shares of Micron Technology by 1.1% during the 1st quarter. Clearbridge Investments LLC now owns 1,931,811 shares of the semiconductor manufacturer’s stock valued at $227,741,000 after purchasing an additional 20,741 shares in the last quarter. Global X Japan Co. Ltd. grew its position in shares of 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 shares of Micron Technology by 9.1% in the 3rd quarter. River Road Asset Management LLC now owns 163,272 shares of the semiconductor manufacturer’s stock valued at $16,933,000 after purchasing an additional 13,573 shares during the period. Finally, RWQ Financial Management Services Inc. bought a new stake in Micron Technology during the 3rd quarter worth approximately $1,270,000. 80.84% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages recently weighed in on MU. Citigroup reduced their target price 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. Raymond James upped their price objective on Micron Technology from $125.00 to $140.00 and gave the stock an “outperform” rating in a research report on Thursday, September 26th. KeyCorp dropped their target price on Micron Technology from $145.00 to $135.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 8th. BNP Paribas downgraded Micron Technology from an “outperform” rating to an “underperform” rating and reduced their price target for the stock from $140.00 to $67.00 in a research report on Thursday, September 12th. Finally, Rosenblatt Securities raised their price target on shares of Micron Technology from $225.00 to $250.00 and gave the stock a “buy” rating in a research note on Thursday, September 26th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-six have given a buy rating to the company. According to MarketBeat.com, Micron Technology currently has a consensus rating of “Moderate Buy” and an average price target of $143.04.

Micron Technology Stock Performance

NASDAQ MU opened at $104.10 on Wednesday. The stock has a market cap of $115.42 billion, a PE ratio of 153.09 and a beta of 1.18. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.68 and a current ratio of 2.64. The firm has a 50-day moving average of $100.41 and a 200-day moving average of $113.11. Micron Technology, Inc. has a 52-week low of $72.93 and a 52-week high of $157.54.

Micron Technology (NASDAQ:MU) last issued its quarterly earnings data 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. 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%. The business’s revenue was up 93.3% on a year-over-year basis. During the same quarter in the previous year, the company posted ($1.21) earnings per share. On average, sell-side analysts anticipate that Micron Technology, Inc. will post 8.31 EPS for the current year.

Micron Technology Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 23rd. Stockholders of record on Monday, October 7th were issued a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.44%. The ex-dividend date of this dividend was Monday, October 7th. Micron Technology’s dividend payout ratio is currently 67.65%.

Insider Activity

In related news, EVP April S. Arnzen sold 4,890 shares of the firm’s stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $113.00, for a total transaction of $552,570.00. Following the transaction, the executive vice president now directly owns 135,830 shares of the company’s stock, valued at approximately $15,348,790. This trade represents a 0.00 % decrease in their ownership of the stock. 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 currently owned by company insiders.

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.