Lbp Am Sa Sells 41,947 Shares of Micron Technology, Inc. $MU

Key Points

• Lbp Am Sa reduced its holdings in Micron Technology by 70.8%, selling 41,947 shares and ending with a total of 17,273 shares valued at approximately $2.13 million.
• Micron recently announced a quarterly dividend of $0.115 to be paid on October 21st, with an annualized yield of 0.3%.
• Micron Technology has seen a positive shift in analyst ratings, with multiple firms upgrading their price targets, including Piper Sandler, which raised its target from $165.00 to $200.00.

Lbp Am Sa reduced its position in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 70.8% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 17,273 shares of the semiconductor manufacturer's stock after selling 41,947 shares during the period. Lbp Am Sa's holdings in Micron Technology were worth $2,129,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of MU. Nuveen LLC bought a new stake in shares of Micron Technology in the 1st quarter valued at about $369,191,000. Vanguard Group Inc. grew its stake in shares of Micron Technology by 2.1% during the first quarter. Vanguard Group Inc. now owns 101,906,368 shares of the semiconductor manufacturer's stock worth $8,854,644,000 after acquiring an additional 2,049,163 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in shares of Micron Technology by 23.8% during the first quarter. Goldman Sachs Group Inc. now owns 10,616,488 shares of the semiconductor manufacturer's stock worth $922,467,000 after acquiring an additional 2,038,641 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Micron Technology by 26.3% during the first quarter. Dimensional Fund Advisors LP now owns 6,800,052 shares of the semiconductor manufacturer's stock worth $590,807,000 after acquiring an additional 1,416,174 shares during the last quarter. Finally, Keystone Investors PTE Ltd. purchased a new stake in shares of Micron Technology during the first quarter worth about $96,253,000. 80.84% of the stock is currently owned by institutional investors.

Micron Technology Price Performance

Shares of NASDAQ MU opened at $183.75 on Friday. The business's 50 day moving average price is $133.36 and its 200 day moving average price is $110.11. The firm has a market cap of $205.64 billion, a P/E ratio of 24.21, a P/E/G ratio of 0.40 and a beta of 1.56. Micron Technology, Inc. has a 52 week low of $61.54 and a 52 week high of $186.18. The company has a quick ratio of 1.79, a current ratio of 2.52 and a debt-to-equity ratio of 0.26.

Micron Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 21st. Shareholders of record on Friday, October 3rd will be given a $0.115 dividend. This represents a $0.46 annualized dividend and a yield of 0.3%. The ex-dividend date is Friday, October 3rd. Micron Technology's dividend payout ratio is currently 6.06%.

Insiders Place Their Bets

In other Micron Technology news, CFO Mark J. Murphy sold 34,000 shares of the company's stock in a transaction that occurred on Tuesday, July 22nd. The stock was sold at an average price of $109.32, for a total value of $3,716,880.00. Following the sale, the chief financial officer owned 264,036 shares in the company, valued at approximately $28,864,415.52. This represents a 11.41% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Richard M. Beyer sold 5,552 shares of the company's stock in a transaction that occurred on Thursday, September 25th. The stock was sold at an average price of $155.68, for a total value of $864,335.36. Following the completion of the sale, the director owned 96,031 shares in the company, valued at approximately $14,950,106.08. This represents a 5.47% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 94,456 shares of company stock worth $12,985,545. Corporate insiders own 0.30% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Piper Sandler boosted their price target on Micron Technology from $165.00 to $200.00 and gave the stock an "overweight" rating in a research note on Wednesday, September 24th. CLSA assumed coverage on Micron Technology in a research note on Wednesday, August 27th. They set an "outperform" rating and a $155.00 price target on the stock. Arete Research upgraded Micron Technology to a "strong-buy" rating in a research note on Friday, July 18th. Wall Street Zen upgraded Micron Technology from a "buy" rating to a "strong-buy" rating in a research note on Friday, September 26th. Finally, Stifel Nicolaus boosted their price target on Micron Technology from $173.00 to $195.00 and gave the stock a "buy" rating in a research note on Monday, September 22nd. Four analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Buy" and an average target price of $184.77.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.