Easterly Investment Partners LLC grew its position in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 274.4% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 17,211 shares of the semiconductor manufacturer's stock after acquiring an additional 12,614 shares during the quarter. Easterly Investment Partners LLC's holdings in Micron Technology were worth $1,785,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other large investors have also added to or reduced their stakes in MU. Hobbs Group Advisors LLC bought a new position in shares of Micron Technology during the 2nd quarter valued at approximately $28,000. Highline Wealth Partners LLC bought a new position in shares of Micron Technology during the 3rd quarter valued at approximately $26,000. Richard W. Paul & Associates LLC increased its position in shares of Micron Technology by 128.6% during the 2nd quarter. Richard W. Paul & Associates LLC now owns 256 shares of the semiconductor manufacturer's stock valued at $34,000 after purchasing an additional 144 shares during the last quarter. LRI Investments LLC increased its position in shares of Micron Technology by 57.2% during the 2nd quarter. LRI Investments LLC now owns 272 shares of the semiconductor manufacturer's stock valued at $36,000 after purchasing an additional 99 shares during the last quarter. Finally, Davis Capital Management bought a new position in shares of Micron Technology during the 3rd quarter valued at approximately $30,000. Institutional investors own 80.84% of the company's stock.
Insider Buying and Selling
In other news, EVP April S. Arnzen sold 4,890 shares of the firm'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 value of $552,570.00. Following 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 transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.32% of the stock is owned by corporate insiders.
Micron Technology Stock Down 1.3 %
NASDAQ:MU traded down $1.51 during mid-day trading on Friday, hitting $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 fifty day moving average of $100.16 and a 200 day moving average of $113.12. Micron Technology, Inc. has a twelve month low of $72.93 and a twelve month high of $157.54. The company has a market capitalization of $124.07 billion, a P/E ratio of 164.56 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 - Get Free Report) last announced its quarterly earnings data on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 earnings per share for the quarter, beating analysts' consensus estimates of $0.97 by $0.21. The business had revenue of $7.75 billion for the quarter, compared to analyst estimates 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 was up 93.3% on a year-over-year basis. During the same period in the prior year, the company earned ($1.21) earnings per share. On average, analysts forecast that Micron Technology, Inc. will post 8.31 EPS for the current year.
Micron Technology Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 23rd. Stockholders of record on Monday, October 7th were issued 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 was Monday, October 7th. Micron Technology's dividend payout ratio is presently 67.65%.
Wall Street Analysts Forecast Growth
A number of equities analysts recently issued reports on the company. Stifel Nicolaus dropped their price objective on Micron Technology from $165.00 to $135.00 and set a "buy" rating for the company in a report on Thursday, September 19th. Cantor Fitzgerald restated an "overweight" rating and set a $150.00 price objective on shares of Micron Technology in a report on Tuesday, October 1st. Wedbush restated an "outperform" rating and set a $140.00 price objective on shares of Micron Technology in a report on Thursday, September 26th. Citigroup dropped their price objective on Micron Technology from $175.00 to $150.00 and set a "buy" rating for the company in a report on Tuesday, September 17th. Finally, BNP Paribas cut Micron Technology from an "outperform" rating to an "underperform" rating and dropped their price objective for the company from $140.00 to $67.00 in a report on Thursday, September 12th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-six have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $143.04.
Get Our Latest Stock Analysis on Micron Technology
Micron Technology Profile
(
Free Report)
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.
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