Wedmont Private Capital Has $1.33 Million Stock Holdings in Micron Technology, Inc. (NASDAQ:MU)

Wedmont Private Capital raised its stake in shares of Micron Technology, Inc. (NASDAQ:MU) by 0.9% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 12,887 shares of the semiconductor manufacturer’s stock after purchasing an additional 120 shares during the period. Wedmont Private Capital’s holdings in Micron Technology were worth $1,326,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. Atria Investments Inc boosted its stake in Micron Technology by 0.3% during the 1st quarter. Atria Investments Inc now owns 27,749 shares of the semiconductor manufacturer’s stock valued at $3,269,000 after purchasing an additional 93 shares during the last quarter. Aspect Partners LLC lifted its position in shares of Micron Technology by 39.8% during the 2nd quarter. Aspect Partners LLC now owns 330 shares of the semiconductor manufacturer’s stock worth $43,000 after buying an additional 94 shares in the last quarter. Revolve Wealth Partners LLC lifted its position in shares of Micron Technology by 1.5% during the 1st quarter. Revolve Wealth Partners LLC now owns 6,582 shares of the semiconductor manufacturer’s stock worth $776,000 after buying an additional 98 shares in the last quarter. Ameritas Advisory Services LLC lifted its position in shares of Micron Technology by 1.3% during the 2nd quarter. Ameritas Advisory Services LLC now owns 7,625 shares of the semiconductor manufacturer’s stock worth $1,003,000 after buying an additional 98 shares in the last quarter. Finally, LRI Investments LLC lifted 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 worth $36,000 after buying an additional 99 shares in the last quarter. Institutional investors and hedge funds own 80.84% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. BNP Paribas cut shares of Micron Technology from an “outperform” rating to an “underperform” rating and dropped their target price for the stock from $140.00 to $67.00 in a research report on Thursday, September 12th. 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. Wolfe Research lifted their target price on shares of Micron Technology from $150.00 to $200.00 and gave the stock an “outperform” rating in a research report on Friday, June 21st. The Goldman Sachs Group lifted their target price on shares of Micron Technology from $138.00 to $158.00 and gave the stock a “buy” rating in a research report on Thursday, June 27th. Finally, Raymond James lifted their target price on shares of Micron Technology from $125.00 to $140.00 and gave the stock an “outperform” rating in a research report on Thursday, September 26th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-five have given a buy rating to the company’s stock. According to MarketBeat, Micron Technology currently has a consensus rating of “Moderate Buy” and a consensus target price of $142.85.

Micron Technology Stock Up 3.9 %

MU opened at $105.69 on Friday. The company has a fifty day moving average price of $96.40 and a 200-day moving average price of $115.04. The firm has a market capitalization of $117.19 billion, a P/E ratio of -74.43, a price-to-earnings-growth ratio of 0.20 and a beta of 1.18. The company has a debt-to-equity ratio of 0.29, a current ratio of 3.41 and a quick ratio of 2.16. Micron Technology, Inc. has a one year low of $63.88 and a one year high of $157.54.

Micron Technology (NASDAQ:MU) last announced its earnings results on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.97 by $0.21. Micron Technology had a negative net margin of 7.20% and a negative return on equity of 4.01%. The company had revenue of $7.75 billion during the quarter, compared to analyst estimates of $7.65 billion. During the same period in the previous year, the business earned ($1.21) earnings per share. The firm’s quarterly revenue was up 93.3% compared to the same quarter last year. Equities research analysts expect that Micron Technology, Inc. will post 0.61 earnings per share for the current fiscal year.

Micron Technology Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 23rd. Investors of record on Monday, October 7th will be given a $0.115 dividend. The ex-dividend date is Monday, October 7th. This represents a $0.46 annualized dividend and a yield of 0.44%. Micron Technology’s dividend payout ratio (DPR) is presently -32.39%.

Insider Buying and Selling

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of the company’s stock in a transaction dated 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 sale, the executive vice president now directly owns 135,830 shares in the company, valued at $15,348,790. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.32% of the stock is owned by company insiders.

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.