Micron Technology, Inc. (NASDAQ:MU) Shares Purchased by Advisors Management Group Inc. ADV

Advisors Management Group Inc. ADV grew its position in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 135.7% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 41,880 shares of the semiconductor manufacturer's stock after buying an additional 24,114 shares during the period. Advisors Management Group Inc. ADV's holdings in Micron Technology were worth $4,343,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the stock. Graypoint LLC boosted its stake in Micron Technology by 19.3% in the 3rd quarter. Graypoint LLC now owns 11,705 shares of the semiconductor manufacturer's stock worth $1,214,000 after purchasing an additional 1,896 shares in the last quarter. M&G PLC boosted its stake in Micron Technology by 29.3% in the 3rd quarter. M&G PLC now owns 149,037 shares of the semiconductor manufacturer's stock worth $15,500,000 after purchasing an additional 33,815 shares in the last quarter. Harvest Portfolios Group Inc. boosted its stake in Micron Technology by 31.4% in the 3rd quarter. Harvest Portfolios Group Inc. now owns 233,705 shares of the semiconductor manufacturer's stock worth $24,238,000 after purchasing an additional 55,884 shares in the last quarter. Catalina Capital Group LLC boosted its stake in Micron Technology by 5.5% in the 3rd quarter. Catalina Capital Group LLC now owns 3,514 shares of the semiconductor manufacturer's stock worth $364,000 after purchasing an additional 183 shares in the last quarter. Finally, Beacon Financial Advisory LLC lifted its stake in Micron Technology by 6.4% during the 3rd quarter. Beacon Financial Advisory LLC now owns 3,093 shares of the semiconductor manufacturer's stock valued at $321,000 after acquiring an additional 186 shares during the period. 80.84% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have commented on MU. Needham & Company LLC restated a "buy" rating and set a $140.00 price objective on shares of Micron Technology in a research note on Thursday, September 26th. Susquehanna cut their price target on shares of Micron Technology from $175.00 to $165.00 and set a "positive" rating for the company in a report on Thursday, September 26th. China Renaissance began coverage on shares of Micron Technology in a report on Monday, October 28th. They issued a "buy" rating and a $148.00 price target for the company. Wells Fargo & Company cut their price target on shares of Micron Technology from $190.00 to $175.00 and set an "overweight" rating for the company in a report on Wednesday, September 18th. Finally, Wedbush reissued an "outperform" rating and issued 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 issued a hold rating and twenty-six have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $143.04.

Insider Activity

In other news, EVP April S. Arnzen sold 4,890 shares of the firm's 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 completion of the transaction, the executive vice president now owns 135,830 shares in the company, valued at $15,348,790. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 0.32% of the company's stock.

Micron Technology Stock Performance

Shares of MU stock traded up $1.58 during trading hours on Thursday, hitting $113.41. The stock had a trading volume of 13,533,874 shares, compared to its average volume of 21,795,264. The firm has a market capitalization of $125.74 billion, a PE ratio of 166.78 and a beta of 1.18. Micron Technology, Inc. has a twelve month low of $71.71 and a twelve month high of $157.54. The stock's 50 day moving average is $99.49 and its 200 day moving average is $113.09. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.64 and a quick ratio of 1.68.

Micron Technology (NASDAQ:MU - Get Free Report) last issued its quarterly earnings results on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 earnings per share for the quarter, topping the consensus estimate of $0.97 by $0.21. The firm had revenue of $7.75 billion during the quarter, compared to the consensus estimate of $7.65 billion. Micron Technology had a return on equity of 1.58% and a net margin of 3.10%. The company's revenue for the quarter was up 93.3% on a year-over-year basis. During the same period last year, the company earned ($1.21) earnings per share. As a group, research analysts forecast that Micron Technology, Inc. will post 8.31 earnings per share for the current fiscal year.

Micron Technology Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 23rd. Stockholders of record on Monday, October 7th were given a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.41%. The ex-dividend date of this dividend was Monday, October 7th. 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.