Edgestream Partners L.P. Has $571,000 Stock Holdings in Micron Technology, Inc. (NASDAQ:MU)

Edgestream Partners L.P. reduced its position in Micron Technology, Inc. (NASDAQ:MU) by 73.0% in the 3rd quarter, HoldingsChannel reports. The firm owned 5,508 shares of the semiconductor manufacturer’s stock after selling 14,919 shares during the period. Edgestream Partners L.P.’s holdings in Micron Technology were worth $571,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Van ECK Associates Corp lifted its position in shares of Micron Technology by 30.6% in the third quarter. Van ECK Associates Corp now owns 10,564,198 shares of the semiconductor manufacturer’s stock valued at $1,109,769,000 after buying an additional 2,477,985 shares during the last quarter. Swedbank AB raised its stake in Micron Technology by 473.8% in the 2nd quarter. Swedbank AB now owns 2,649,180 shares of the semiconductor manufacturer’s stock valued at $348,447,000 after acquiring an additional 2,187,460 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Micron Technology by 21.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 11,326,224 shares of the semiconductor manufacturer’s stock valued at $1,174,643,000 after acquiring an additional 2,022,180 shares during the period. International Assets Investment Management LLC lifted its holdings in Micron Technology by 1,233.7% during the 3rd quarter. International Assets Investment Management LLC now owns 1,430,619 shares of the semiconductor manufacturer’s stock valued at $145,470,000 after purchasing an additional 1,323,352 shares during the last quarter. Finally, Caxton Associates LP boosted its position in Micron Technology by 2,500.0% during the second quarter. Caxton Associates LP now owns 1,300,000 shares of the semiconductor manufacturer’s stock worth $170,989,000 after purchasing an additional 1,250,000 shares during the period. Institutional investors own 80.84% of the company’s stock.

Insider Activity

In other news, EVP April S. Arnzen sold 4,890 shares of the business’s stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $113.00, for a total transaction of $552,570.00. Following the sale, the executive vice president now directly owns 135,830 shares in the company, valued at approximately $15,348,790. The trade was a 3.47 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.30% of the stock is owned by corporate insiders.

Micron Technology Price Performance

Shares of MU stock opened at $100.87 on Friday. The business has a fifty day simple moving average of $103.79 and a 200 day simple moving average of $110.81. The company has a market cap of $112.37 billion, a P/E ratio of 148.34 and a beta of 1.16. The company has a quick ratio of 1.68, a current ratio of 2.64 and a debt-to-equity ratio of 0.29. Micron Technology, Inc. has a twelve month low of $72.93 and a twelve month high of $157.54.

Micron Technology (NASDAQ:MU) last posted its earnings results on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 EPS for the quarter, topping analysts’ consensus estimates of $0.97 by $0.21. The firm had revenue of $7.75 billion during the quarter, compared to analysts’ expectations of $7.65 billion. Micron Technology had a net margin of 3.10% and a return on equity of 1.58%. The business’s revenue for the quarter was up 93.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($1.21) earnings per share. On average, sell-side analysts forecast that Micron Technology, Inc. will post 8.31 EPS 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 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 0.46%. Micron Technology’s dividend payout ratio (DPR) is presently 67.65%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. BNP Paribas lowered shares of Micron Technology from an “outperform” rating to an “underperform” rating and dropped their price objective for the company from $140.00 to $67.00 in a research report on Thursday, September 12th. Robert W. Baird lowered their price target on shares of Micron Technology from $172.00 to $150.00 and set an “outperform” rating on the stock in a report on Friday, September 27th. Raymond James boosted their price objective on Micron Technology from $125.00 to $140.00 and gave the stock an “outperform” rating in a report on Thursday, September 26th. Citigroup decreased their target price on Micron Technology from $175.00 to $150.00 and set a “buy” rating on the stock in a research report on Tuesday, September 17th. Finally, Morgan Stanley lifted their price target on Micron Technology from $100.00 to $114.00 and gave the stock an “equal weight” rating in a report on Thursday, September 26th. One investment 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 stock. According to MarketBeat, Micron Technology presently has an average rating of “Moderate Buy” and a consensus 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.