Continuum Advisory LLC Acquires 13,040 Shares of Micron Technology, Inc. (NASDAQ:MU)

Continuum Advisory LLC increased its stake in shares of Micron Technology, Inc. (NASDAQ:MU) by 280.1% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,695 shares of the semiconductor manufacturer’s stock after buying an additional 13,040 shares during the quarter. Continuum Advisory LLC’s holdings in Micron Technology were worth $1,755,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the stock. Hobbs Group Advisors LLC bought a new position in shares of Micron Technology in the second quarter valued at about $28,000. Highline Wealth Partners LLC acquired a new position in shares of Micron Technology during the third quarter worth approximately $26,000. Richard W. Paul & Associates LLC grew its stake in shares of Micron Technology by 128.6% during the second 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 holdings in shares of Micron Technology by 57.2% in the second quarter. LRI Investments LLC now owns 272 shares of the semiconductor manufacturer’s stock valued at $36,000 after purchasing an additional 99 shares in the last quarter. Finally, Davis Capital Management bought a new position in Micron Technology in the 3rd quarter worth approximately $30,000. Institutional investors and hedge funds own 80.84% of the company’s stock.

Micron Technology Stock Performance

Shares of MU stock opened at $101.17 on Monday. Micron Technology, Inc. has a 52 week low of $72.99 and a 52 week high of $157.54. The company has a market capitalization of $112.71 billion, a price-to-earnings ratio of 148.78 and a beta of 1.16. The company has a 50-day simple moving average of $103.66 and a 200 day simple moving average of $110.39. 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) last released its quarterly earnings results on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 earnings per share for the quarter, topping 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 business had revenue of $7.75 billion during the quarter, compared to analysts’ expectations of $7.65 billion. During the same period last year, the firm posted ($1.21) EPS. The firm’s revenue for the quarter was up 93.3% compared to the same quarter last year. On average, sell-side analysts predict that Micron Technology, Inc. will post 8.31 earnings per share for the current year.

Micron Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 23rd. Shareholders of record on Monday, October 7th were paid a dividend of $0.115 per share. The ex-dividend date of this dividend was Monday, October 7th. This represents a $0.46 dividend on an annualized basis and a yield of 0.45%. Micron Technology’s dividend payout ratio (DPR) is presently 67.65%.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on MU. Cantor Fitzgerald restated an “overweight” rating and issued a $150.00 price objective on shares of Micron Technology in a report on Tuesday, October 1st. TD Cowen raised their price target on Micron Technology from $115.00 to $135.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. Citigroup decreased their price objective on Micron Technology from $175.00 to $150.00 and set a “buy” rating for the company in a research note on Tuesday, September 17th. Stifel Nicolaus reduced their target price on Micron Technology from $165.00 to $135.00 and set a “buy” rating on the stock in a report on Thursday, September 19th. Finally, Wells Fargo & Company lowered their price target on Micron Technology from $190.00 to $175.00 and set an “overweight” rating for the company in a research note on Wednesday, September 18th. 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 stock currently has a consensus rating of “Moderate Buy” and an average price target of $143.04.

Insider Buying and Selling at Micron Technology

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of the business’s stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $113.00, for a total transaction of $552,570.00. Following the completion of the transaction, the executive vice president now directly owns 135,830 shares in the company, valued at $15,348,790. The trade was a 3.47 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.30% 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.