Janney Montgomery Scott LLC Has $12.52 Million Stock Position in Micron Technology, Inc. (NASDAQ:MU)

Janney Montgomery Scott LLC increased its stake in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) by 12.1% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 120,731 shares of the semiconductor manufacturer's stock after purchasing an additional 13,051 shares during the period. Janney Montgomery Scott LLC's holdings in Micron Technology were worth $12,521,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of MU. Hobbs Group Advisors LLC purchased a new stake in shares of Micron Technology during the second quarter worth about $28,000. Highline Wealth Partners LLC purchased a new stake in Micron Technology in the 3rd quarter worth approximately $26,000. Richard W. Paul & Associates LLC raised its holdings 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 acquiring an additional 144 shares during the last quarter. LRI Investments LLC raised its holdings in Micron Technology by 57.2% in the 2nd quarter. LRI Investments LLC now owns 272 shares of the semiconductor manufacturer's stock valued at $36,000 after acquiring an additional 99 shares during the last quarter. Finally, Davis Capital Management acquired a new stake in shares of Micron Technology during the third quarter worth $30,000. Hedge funds and other institutional investors own 80.84% of the company's stock.

Micron Technology Stock Performance

MU traded up $1.58 during trading hours on Thursday, hitting $113.41. 13,533,874 shares of the stock were exchanged, compared to its average volume of 21,795,264. 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, Inc. has a 12 month low of $71.71 and a 12 month high of $157.54. The stock has a 50-day simple moving average of $99.49 and a 200-day simple moving average of $113.09. The stock has a market cap of $125.74 billion, a price-to-earnings ratio of 166.78 and a beta of 1.18.

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

Micron Technology Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 23rd. Shareholders of record on Monday, October 7th were given a dividend of $0.115 per share. The ex-dividend date was Monday, October 7th. This represents a $0.46 dividend on an annualized basis and a yield of 0.41%. Micron Technology's dividend payout ratio (DPR) is presently 67.65%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on MU. TD Cowen upped their price objective on shares of Micron Technology from $115.00 to $135.00 and gave the company a "buy" rating in a research note on Thursday, September 26th. Robert W. Baird dropped their price target on shares of Micron Technology from $172.00 to $150.00 and set an "outperform" rating for the company in a research report on Friday, September 27th. Cantor Fitzgerald reiterated an "overweight" rating and issued a $150.00 price target on shares of Micron Technology in a report on Tuesday, October 1st. Rosenblatt Securities upped their price objective on Micron Technology from $225.00 to $250.00 and gave the stock a "buy" rating in a report on Thursday, September 26th. Finally, UBS Group reduced their target price on Micron Technology from $153.00 to $135.00 and set a "buy" rating on the stock in a report on Tuesday, September 17th. 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. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $143.04.

Insider Transactions at Micron Technology

In related news, EVP April S. Arnzen sold 4,890 shares of the business's stock in a transaction that occurred on 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 owns 135,830 shares of the company's stock, valued at $15,348,790. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.32% of the company's stock.

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.