RWQ Financial Management Services Inc. Takes $1.27 Million Position in Micron Technology, Inc. (NASDAQ:MU)

RWQ Financial Management Services Inc. acquired a new position in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 12,250 shares of the semiconductor manufacturer's stock, valued at approximately $1,270,000. Micron Technology accounts for about 0.4% of RWQ Financial Management Services Inc.'s holdings, making the stock its 17th largest holding.

A number of other hedge funds and other institutional investors have also bought and sold shares of MU. Vanguard Group Inc. lifted its position in Micron Technology by 1.8% during the 1st quarter. Vanguard Group Inc. now owns 96,666,590 shares of the semiconductor manufacturer's stock worth $11,396,024,000 after buying an additional 1,681,815 shares in the last quarter. Capital World Investors raised its holdings in Micron Technology by 6.6% during the first quarter. Capital World Investors now owns 22,748,381 shares of the semiconductor manufacturer's stock worth $2,681,807,000 after acquiring an additional 1,400,154 shares in the last quarter. Capital International Investors boosted its position in Micron Technology by 15.1% during the first quarter. Capital International Investors now owns 18,303,506 shares of the semiconductor manufacturer's stock valued at $2,157,800,000 after purchasing an additional 2,397,885 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in Micron Technology by 22.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 18,243,633 shares of the semiconductor manufacturer's stock valued at $2,150,743,000 after purchasing an additional 3,315,988 shares in the last quarter. Finally, Van ECK Associates Corp increased its position in shares of Micron Technology by 30.6% during the 3rd quarter. Van ECK Associates Corp now owns 10,564,198 shares of the semiconductor manufacturer's stock worth $1,109,769,000 after purchasing an additional 2,477,985 shares during the last quarter. Institutional investors and hedge funds own 80.84% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on MU. Stifel Nicolaus decreased 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 report on Thursday, September 19th. Robert W. Baird lowered their price target on Micron Technology from $172.00 to $150.00 and set an "outperform" rating on the stock in a research report on Friday, September 27th. Rosenblatt Securities upped their price objective on Micron Technology from $225.00 to $250.00 and gave the company a "buy" rating in a research note on Thursday, September 26th. Wedbush reissued an "outperform" rating and set a $140.00 target price on shares of Micron Technology in a report on Thursday, September 26th. Finally, UBS Group dropped their price target on Micron Technology from $153.00 to $135.00 and set a "buy" rating on the stock in a research note on Tuesday, September 17th. One equities research 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 company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $143.04.

Micron Technology Price Performance

NASDAQ:MU traded up $0.08 on Friday, hitting $99.73. The company had a trading volume of 13,623,350 shares, compared to its average volume of 18,042,192. Micron Technology, Inc. has a 52 week low of $69.75 and a 52 week high of $157.54. The company has a current ratio of 2.64, a quick ratio of 1.68 and a debt-to-equity ratio of 0.29. The stock has a market capitalization of $110.57 billion, a price-to-earnings ratio of 146.66 and a beta of 1.18. The firm has a 50 day moving average of $98.94 and a two-hundred day moving average of $113.18.

Micron Technology (NASDAQ:MU - Get Free Report) last posted its 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 the consensus estimate of $7.65 billion. During the same period last year, the company earned ($1.21) earnings per share. The business's quarterly revenue was up 93.3% on a year-over-year basis. On average, research analysts anticipate that Micron Technology, Inc. will post 8.31 earnings per share for the current year.

Micron Technology Announces Dividend

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

Insiders Place Their Bets

In related news, EVP April S. Arnzen sold 4,890 shares of Micron Technology 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 directly 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.32% of the company's stock.

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.