Quest Partners LLC raised its holdings in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) by 1,485.2% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 8,243 shares of the semiconductor manufacturer's stock after purchasing an additional 7,723 shares during the period. Quest Partners LLC's holdings in Micron Technology were worth $855,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also made changes to their positions in the business. Atria Investments Inc increased its position in shares of Micron Technology by 0.3% during the first quarter. Atria Investments Inc now owns 27,749 shares of the semiconductor manufacturer's stock valued at $3,269,000 after acquiring an additional 93 shares in the last quarter. Aspect Partners LLC boosted its holdings in Micron Technology by 39.8% in the second quarter. Aspect Partners LLC now owns 330 shares of the semiconductor manufacturer's stock worth $43,000 after purchasing an additional 94 shares during the last quarter. Ameritas Advisory Services LLC boosted its holdings in Micron Technology by 1.3% in the second quarter. Ameritas Advisory Services LLC now owns 7,625 shares of the semiconductor manufacturer's stock worth $1,003,000 after purchasing an additional 98 shares during the last quarter. LRI Investments LLC boosted its holdings in Micron Technology by 57.2% in the second quarter. LRI Investments LLC now owns 272 shares of the semiconductor manufacturer's stock worth $36,000 after purchasing an additional 99 shares during the last quarter. Finally, E&G Advisors LP boosted its stake in shares of Micron Technology by 5.2% during the 2nd quarter. E&G Advisors LP now owns 2,015 shares of the semiconductor manufacturer's stock worth $265,000 after acquiring an additional 100 shares during the last quarter. Institutional investors own 80.84% of the company's stock.
Micron Technology Stock Down 0.1 %
Shares of MU traded down $0.12 during mid-day trading on Friday, reaching $102.64. 12,052,275 shares of the stock traded hands, compared to its average volume of 21,508,977. Micron Technology, Inc. has a 12-month low of $72.93 and a 12-month high of $157.54. The company has a quick ratio of 1.68, a current ratio of 2.64 and a debt-to-equity ratio of 0.29. The firm has a market cap of $113.80 billion, a price-to-earnings ratio of 149.77 and a beta of 1.18. The stock has a fifty day simple moving average of $102.23 and a 200 day simple moving average of $112.35.
Micron Technology (NASDAQ:MU - Get Free Report) last released 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. The firm had revenue of $7.75 billion during the quarter, compared to the consensus estimate of $7.65 billion. Micron Technology had a net margin of 3.10% and a return on equity of 1.58%. The firm's revenue was up 93.3% on a year-over-year basis. During the same quarter in the previous year, the company posted ($1.21) earnings per share. Sell-side analysts expect that Micron Technology, Inc. will post 8.31 EPS for the current fiscal year.
Micron Technology Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Wednesday, October 23rd. Stockholders of record on Monday, October 7th were issued a dividend of $0.115 per share. This represents a $0.46 annualized dividend and a dividend yield of 0.45%. The ex-dividend date was Monday, October 7th. Micron Technology's dividend payout ratio (DPR) is 67.65%.
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 3.47 % 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. Corporate insiders own 0.32% of the company's stock.
Analysts Set New Price Targets
A number of analysts have issued reports on MU shares. Stifel Nicolaus reduced their price target on shares of Micron Technology from $165.00 to $135.00 and set a "buy" rating on the stock in a report on Thursday, September 19th. TD Cowen boosted their target price on shares of Micron Technology from $115.00 to $135.00 and gave the stock a "buy" rating in a report on Thursday, September 26th. China Renaissance started coverage on shares of Micron Technology in a report on Monday, October 28th. They issued a "buy" rating and a $148.00 target price on the stock. Morgan Stanley boosted their target price on shares of Micron Technology from $100.00 to $114.00 and gave the stock an "equal weight" rating in a report on Thursday, September 26th. Finally, Rosenblatt Securities lifted their price target on shares of Micron Technology from $225.00 to $250.00 and gave the stock a "buy" rating in a research note on Thursday, September 26th. One investment 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, Micron Technology currently has an average rating of "Moderate Buy" and a consensus target price of $143.04.
Read Our Latest Stock Analysis on MU
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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