Bridgewater Associates LP Takes Position in Micron Technology, Inc. (NASDAQ:MU)

Bridgewater Associates LP bought a new position in shares of Micron Technology, Inc. (NASDAQ:MU) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 983,685 shares of the semiconductor manufacturer’s stock, valued at approximately $102,018,000. Bridgewater Associates LP owned approximately 0.09% of Micron Technology at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Chartwell Investment Partners LLC boosted its position in shares of Micron Technology by 26.4% during the 3rd quarter. Chartwell Investment Partners LLC now owns 195,115 shares of the semiconductor manufacturer’s stock valued at $20,236,000 after purchasing an additional 40,802 shares in the last quarter. Lazard Freres Gestion S.A.S. boosted its holdings in Micron Technology by 241.7% during the third quarter. Lazard Freres Gestion S.A.S. now owns 41,000 shares of the semiconductor manufacturer’s stock worth $4,252,000 after buying an additional 29,000 shares in the last quarter. Global X Japan Co. Ltd. grew its position in Micron Technology by 23.1% in the third quarter. Global X Japan Co. Ltd. now owns 51,832 shares of the semiconductor manufacturer’s stock worth $5,375,000 after buying an additional 9,735 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Micron Technology by 1.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 6,721,126 shares of the semiconductor manufacturer’s stock valued at $697,048,000 after buying an additional 65,591 shares in the last quarter. Finally, River Road Asset Management LLC lifted its position in shares of Micron Technology by 9.1% during 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 acquiring an additional 13,573 shares during the last quarter. 80.84% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Micron Technology

In related news, EVP April S. Arnzen sold 4,890 shares of Micron Technology 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 completion of the transaction, the executive vice president now directly owns 135,830 shares of the company’s stock, valued at $15,348,790. This trade represents a 3.47 % decrease in their position. The sale 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.

Analyst Ratings Changes

Several analysts have issued reports on the company. Morgan Stanley boosted their price objective on Micron Technology from $100.00 to $114.00 and gave the stock an “equal weight” rating in a report on Thursday, September 26th. Wells Fargo & Company cut their price target on shares of Micron Technology from $190.00 to $175.00 and set an “overweight” rating on the stock in a report on Wednesday, September 18th. UBS Group decreased their price objective on shares of Micron Technology from $153.00 to $135.00 and set a “buy” rating for the company in a research note on Tuesday, September 17th. TD Cowen increased their target price on Micron Technology from $115.00 to $135.00 and gave the company a “buy” rating in a report on Thursday, September 26th. Finally, Wedbush reiterated an “outperform” rating and set a $140.00 price target on shares of Micron Technology in a report on Thursday, September 26th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-six have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $143.04.

Micron Technology Price Performance

Shares of Micron Technology stock opened at $101.80 on Wednesday. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.64 and a quick ratio of 1.68. The company has a market cap of $112.87 billion, a PE ratio of 149.71 and a beta of 1.18. The firm has a fifty day moving average price of $103.07 and a two-hundred day moving average price of $111.90. Micron Technology, Inc. has a fifty-two week low of $72.93 and a fifty-two week high of $157.54.

Micron Technology (NASDAQ:MU) last posted its quarterly earnings results on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 EPS 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 firm had revenue of $7.75 billion during the quarter, compared to analysts’ expectations of $7.65 billion. During the same quarter in the prior year, the firm posted ($1.21) EPS. The company’s revenue for the quarter was up 93.3% on a year-over-year basis. Analysts expect that Micron Technology, Inc. will post 8.31 EPS for the current year.

Micron Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 23rd. Stockholders of record on Monday, October 7th were paid a $0.115 dividend. The ex-dividend date of this dividend was Monday, October 7th. This represents a $0.46 annualized dividend and a dividend yield of 0.45%. Micron Technology’s dividend payout ratio is currently 67.65%.

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.