BNP Paribas Has $1.40 Million Position in Micron Technology, Inc. (NASDAQ:MU)

BNP Paribas lessened its holdings in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) by 37.4% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 16,630 shares of the semiconductor manufacturer's stock after selling 9,929 shares during the period. BNP Paribas' holdings in Micron Technology were worth $1,400,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. increased its stake in Micron Technology by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 99,857,205 shares of the semiconductor manufacturer's stock valued at $8,403,982,000 after purchasing an additional 888,087 shares in the last quarter. FMR LLC increased its position in shares of Micron Technology by 34.6% in the 4th quarter. FMR LLC now owns 47,672,462 shares of the semiconductor manufacturer's stock valued at $4,012,114,000 after buying an additional 12,249,341 shares in the last quarter. Capital World Investors raised its stake in Micron Technology by 63.7% during the 4th quarter. Capital World Investors now owns 41,096,391 shares of the semiconductor manufacturer's stock worth $3,458,673,000 after buying an additional 15,993,036 shares during the period. Geode Capital Management LLC lifted its holdings in Micron Technology by 3.1% during the fourth quarter. Geode Capital Management LLC now owns 24,449,827 shares of the semiconductor manufacturer's stock worth $2,052,973,000 after acquiring an additional 726,282 shares in the last quarter. Finally, Norges Bank acquired a new position in Micron Technology in the fourth quarter valued at about $1,470,875,000. Institutional investors own 80.84% of the company's stock.

Analysts Set New Price Targets

MU has been the topic of several recent analyst reports. UBS Group cut their price objective on Micron Technology from $130.00 to $92.00 and set a "buy" rating on the stock in a report on Monday, April 28th. Wedbush reissued an "underperform" rating on shares of Micron Technology in a research report on Monday, April 28th. China Renaissance cut shares of Micron Technology from a "buy" rating to a "hold" rating and set a $84.00 price objective on the stock. in a research report on Wednesday, March 26th. Rosenblatt Securities lowered their target price on Micron Technology from $250.00 to $200.00 and set a "buy" rating for the company in a report on Friday, March 21st. Finally, Citigroup cut their price target on Micron Technology from $120.00 to $110.00 and set a "buy" rating on the stock in a report on Friday, April 11th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $127.04.

Micron Technology Stock Performance

MU opened at $80.72 on Monday. The company has a quick ratio of 1.75, a current ratio of 2.72 and a debt-to-equity ratio of 0.28. Micron Technology, Inc. has a 12-month low of $61.54 and a 12-month high of $157.54. The business has a 50 day moving average of $83.63 and a 200-day moving average of $93.77. The stock has a market cap of $90.21 billion, a price-to-earnings ratio of 23.26 and a beta of 1.18.

Micron Technology (NASDAQ:MU - Get Free Report) last announced its quarterly earnings results on Thursday, March 20th. The semiconductor manufacturer reported $1.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.43 by $0.13. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. The business had revenue of $8.05 billion during the quarter, compared to the consensus estimate of $7.93 billion. During the same quarter last year, the firm posted $0.42 EPS. The company's quarterly revenue was up 38.2% on a year-over-year basis. On average, equities research analysts expect that Micron Technology, Inc. will post 6.08 earnings per share for the current year.

Micron Technology Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were issued a $0.115 dividend. The ex-dividend date was Monday, March 31st. This represents a $0.46 annualized dividend and a yield of 0.57%. Micron Technology's dividend payout ratio is currently 11.03%.

Insiders Place Their Bets

In other Micron Technology news, EVP April S. Arnzen sold 15,000 shares of the stock in a transaction that occurred on Tuesday, March 25th. The shares were sold at an average price of $96.18, for a total transaction of $1,442,700.00. Following the transaction, the executive vice president now owns 164,769 shares in the company, valued at $15,847,482.42. This represents a 8.34 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Mary Pat Mccarthy sold 2,404 shares of the firm's stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $92.93, for a total transaction of $223,403.72. Following the transaction, the director now directly owns 27,358 shares in the company, valued at $2,542,378.94. This represents a 8.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.30% of the company's stock.

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.

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