46,295 Shares in Micron Technology, Inc. (NASDAQ:MU) Purchased by CWA Asset Management Group LLC

CWA Asset Management Group LLC acquired a new stake in Micron Technology, Inc. (NASDAQ:MU - Free Report) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 46,295 shares of the semiconductor manufacturer's stock, valued at approximately $4,801,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Highline Wealth Partners LLC purchased a new position in Micron Technology in the 3rd quarter valued at approximately $26,000. Hobbs Group Advisors LLC purchased a new position in shares of Micron Technology during the 2nd quarter worth approximately $28,000. Davis Capital Management acquired a new position in shares of Micron Technology during the 3rd quarter worth approximately $30,000. Richard W. Paul & Associates LLC lifted its stake 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 valued at $34,000 after buying an additional 144 shares in the last quarter. Finally, DT Investment Partners LLC grew its holdings in Micron Technology by 261.1% during the 3rd quarter. DT Investment Partners LLC now owns 325 shares of the semiconductor manufacturer's stock valued at $34,000 after buying an additional 235 shares during the last quarter. Institutional investors and hedge funds own 80.84% of the company's stock.

Insider Activity

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of the business's stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $113.00, for a total value 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 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.32% of the company's stock.

Wall Street Analysts Forecast Growth

MU has been the subject of a number of analyst reports. Citigroup cut their price objective 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. Wedbush reiterated an "outperform" rating and issued a $140.00 target price on shares of Micron Technology in a research note on Thursday, September 26th. BNP Paribas lowered Micron Technology from an "outperform" rating to an "underperform" rating and decreased their price target for the stock from $140.00 to $67.00 in a research note on Thursday, September 12th. Rosenblatt Securities upped their price objective on shares of Micron Technology from $225.00 to $250.00 and gave the company a "buy" rating in a research note on Thursday, September 26th. Finally, Stifel Nicolaus lowered their price objective on shares of Micron Technology from $165.00 to $135.00 and set a "buy" rating for the company in a research note on Thursday, September 19th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-six have assigned a buy rating to the company's stock. According to MarketBeat, Micron Technology presently has an average rating of "Moderate Buy" and a consensus target price of $143.04.

Micron Technology Stock Performance

Shares of NASDAQ:MU traded down $1.51 during trading on Friday, reaching $111.90. 13,045,721 shares of the company's stock traded hands, compared to its average volume of 17,080,670. 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 50 day moving average of $100.16 and a 200-day moving average of $113.12. Micron Technology, Inc. has a 12 month low of $72.93 and a 12 month high of $157.54. The stock has a market capitalization of $124.07 billion, a P/E ratio of 164.56 and a beta of 1.18.

Micron Technology (NASDAQ:MU - Get Free Report) last issued its quarterly earnings data on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 EPS for the quarter, topping analysts' consensus estimates 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 the consensus estimate of $7.65 billion. During the same period in the prior year, the business earned ($1.21) EPS. The firm's revenue was up 93.3% on a year-over-year basis. On average, equities analysts expect that Micron Technology, Inc. will post 8.31 EPS for the current year.

Micron Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 23rd. Investors of record on Monday, October 7th were issued a $0.115 dividend. This represents a $0.46 annualized dividend and a yield of 0.41%. The ex-dividend date was Monday, October 7th. Micron Technology's payout ratio is currently 67.65%.

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.