Qsemble Capital Management LP Decreases Stock Holdings in Micron Technology, Inc. (NASDAQ:MU)

Qsemble Capital Management LP decreased its holdings in Micron Technology, Inc. (NASDAQ:MU) by 44.0% in the third quarter, Holdings Channel.com reports. The institutional investor owned 5,541 shares of the semiconductor manufacturer’s stock after selling 4,361 shares during the period. Qsemble Capital Management LP’s holdings in Micron Technology were worth $575,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Highline Wealth Partners LLC purchased a new position in Micron Technology in the 3rd quarter worth about $26,000. Hobbs Group Advisors LLC purchased a new position in Micron Technology in the 2nd quarter worth about $28,000. Davis Capital Management purchased a new position in Micron Technology in the 3rd quarter worth about $30,000. Richard W. Paul & Associates LLC raised its position in Micron Technology by 128.6% in the 2nd quarter. Richard W. Paul & Associates LLC now owns 256 shares of the semiconductor manufacturer’s stock worth $34,000 after buying an additional 144 shares during the last quarter. Finally, DT Investment Partners LLC raised its position in Micron Technology by 261.1% in the 3rd quarter. DT Investment Partners LLC now owns 325 shares of the semiconductor manufacturer’s stock worth $34,000 after buying an additional 235 shares during the last quarter. Hedge funds and other institutional investors own 80.84% of the company’s stock.

Micron Technology Stock Performance

NASDAQ:MU opened at $98.20 on Thursday. The stock’s fifty day moving average is $103.28 and its 200 day moving average is $111.80. Micron Technology, Inc. has a fifty-two week low of $72.93 and a fifty-two week high of $157.54. The firm has a market capitalization of $108.88 billion, a PE ratio of 144.41 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.

Micron Technology (NASDAQ:MU) last released its quarterly earnings results on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 earnings per share for the quarter, beating the consensus estimate of $0.97 by $0.21. Micron Technology had a return on equity of 1.58% and a net margin of 3.10%. The company had revenue of $7.75 billion for the quarter, compared to analyst estimates of $7.65 billion. During the same quarter in the prior year, the firm posted ($1.21) EPS. Micron Technology’s quarterly revenue was up 93.3% compared to the same quarter last year. On average, sell-side analysts anticipate that Micron Technology, Inc. will post 8.31 earnings per share for the current year.

Micron Technology Announces Dividend

The business also recently declared 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 yield of 0.47%. Micron Technology’s payout ratio is presently 67.65%.

Insider Activity at Micron Technology

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of the stock in a transaction 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 sale, the executive vice president now owns 135,830 shares in the company, valued at $15,348,790. This trade represents a 3.47 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.32% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on MU. Citigroup reduced their price target on shares of Micron Technology from $175.00 to $150.00 and set a “buy” rating for the company in a research report on Tuesday, September 17th. Rosenblatt Securities upped their price target on shares of Micron Technology from $225.00 to $250.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. TD Cowen upped their price target on shares of Micron Technology from $115.00 to $135.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. Bank of America upped their price target on shares of Micron Technology from $110.00 to $125.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. Finally, BNP Paribas lowered shares of Micron Technology from an “outperform” rating to an “underperform” rating and reduced their price target for the company from $140.00 to $67.00 in a research report on Thursday, September 12th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-six have issued a buy rating to the stock. According to MarketBeat.com, Micron Technology has an average rating of “Moderate Buy” and a consensus target price of $143.04.

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.