Verdence Capital Advisors LLC Acquires 19,084 Shares of Micron Technology, Inc. (NASDAQ:MU)

Verdence Capital Advisors LLC raised its position in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) by 20.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 111,654 shares of the semiconductor manufacturer's stock after acquiring an additional 19,084 shares during the quarter. Micron Technology comprises 0.9% of Verdence Capital Advisors LLC's investment portfolio, making the stock its 18th biggest holding. Verdence Capital Advisors LLC's holdings in Micron Technology were worth $11,580,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Atria Investments Inc raised its holdings in shares of Micron Technology by 0.3% in the 1st quarter. Atria Investments Inc now owns 27,749 shares of the semiconductor manufacturer's stock worth $3,269,000 after acquiring an additional 93 shares during the last quarter. Aspect Partners LLC raised its holdings in shares of Micron Technology by 39.8% in the 2nd quarter. Aspect Partners LLC now owns 330 shares of the semiconductor manufacturer's stock worth $43,000 after acquiring an additional 94 shares during the last quarter. Ameritas Advisory Services LLC raised its holdings in shares of Micron Technology by 1.3% in the 2nd quarter. Ameritas Advisory Services LLC now owns 7,625 shares of the semiconductor manufacturer's stock worth $1,003,000 after acquiring an additional 98 shares during the last quarter. LRI Investments LLC grew its position in Micron Technology by 57.2% in the 2nd quarter. LRI Investments LLC now owns 272 shares of the semiconductor manufacturer's stock worth $36,000 after purchasing an additional 99 shares in the last quarter. Finally, E&G Advisors LP grew its position in Micron Technology by 5.2% in the 2nd quarter. E&G Advisors LP now owns 2,015 shares of the semiconductor manufacturer's stock worth $265,000 after purchasing an additional 100 shares in the last quarter. Institutional investors own 80.84% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on MU shares. Needham & Company LLC reissued a "buy" rating and set a $140.00 target price on shares of Micron Technology in a research report on Thursday, September 26th. Raymond James increased their target price on shares of Micron Technology from $125.00 to $140.00 and gave the company an "outperform" rating in a research report on Thursday, September 26th. Cantor Fitzgerald reissued an "overweight" rating and set a $150.00 target price on shares of Micron Technology in a research report on Tuesday, October 1st. Robert W. Baird reduced their target price 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. Finally, China Renaissance started coverage on shares of Micron Technology in a research report on Monday, October 28th. They set a "buy" rating and a $148.00 target price for the company. One 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 company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $143.04.

Insider Transactions at Micron Technology

In other news, EVP April S. Arnzen sold 4,890 shares of the stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $113.00, for a total value of $552,570.00. Following the completion of the sale, the executive vice president now directly owns 135,830 shares of the company's stock, valued at $15,348,790. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.32% of the company's stock.

Micron Technology Stock Performance

Shares of MU traded down $1.51 during mid-day trading on Friday, hitting $111.90. 13,045,721 shares of the company traded hands, compared to its average volume of 17,080,670. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.68 and a current ratio of 2.64. The stock has a 50-day moving average price of $100.16 and a two-hundred day moving average price of $113.12. Micron Technology, Inc. has a 1 year low of $72.93 and a 1 year high of $157.54. The stock has a market cap of $124.07 billion, a price-to-earnings ratio of 164.56 and a beta of 1.18.

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

Micron Technology Dividend Announcement

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

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.