Capital Performance Advisors LLP Takes $94,000 Position in Micron Technology, Inc. (NASDAQ:MU)

Capital Performance Advisors LLP bought a new position in shares of Micron Technology, Inc. (NASDAQ:MUFree Report) in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 907 shares of the semiconductor manufacturer’s stock, valued at approximately $94,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Hobbs Group Advisors LLC bought a new position in Micron Technology during the 2nd quarter worth $28,000. Highline Wealth Partners LLC acquired a new position in shares of Micron Technology in the third quarter valued at about $26,000. Richard W. Paul & Associates LLC increased its position in Micron Technology by 128.6% during the second quarter. Richard W. Paul & Associates LLC now owns 256 shares of the semiconductor manufacturer’s stock worth $34,000 after acquiring an additional 144 shares during the period. LRI Investments LLC raised its stake 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, Davis Capital Management acquired a new stake in Micron Technology in the 3rd quarter worth about $30,000. Institutional investors and hedge funds own 80.84% of the company’s stock.

Insider Buying and Selling

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

Micron Technology Trading Down 1.3 %

MU opened at $111.90 on Friday. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.64 and a quick ratio of 1.68. Micron Technology, Inc. has a fifty-two week low of $72.93 and a fifty-two week high of $157.54. The company’s 50 day moving average price is $100.16 and its two-hundred day moving average price is $113.12. The firm has a market capitalization of $124.07 billion, a price-to-earnings ratio of 164.56 and a beta of 1.18.

Micron Technology (NASDAQ:MUGet Free Report) last issued its quarterly earnings data 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. The company had revenue of $7.75 billion for the quarter, compared to analysts’ expectations of $7.65 billion. Micron Technology had a net margin of 3.10% and a return on equity of 1.58%. Micron Technology’s revenue for the quarter was up 93.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($1.21) earnings per share. As a group, research 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. Stockholders of record on Monday, October 7th were given 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 dividend yield of 0.41%. Micron Technology’s dividend payout ratio (DPR) is 67.65%.

Analysts Set New Price Targets

Several brokerages have recently commented on MU. Morgan Stanley raised 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. Stifel Nicolaus lowered their price objective on Micron Technology from $165.00 to $135.00 and set a “buy” rating on the stock in a research note on Thursday, September 19th. Susquehanna cut their target price on Micron Technology from $175.00 to $165.00 and set a “positive” rating for the company in a research report 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, TD Cowen boosted their price target on Micron Technology from $115.00 to $135.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $143.04.

View Our Latest Stock Report on Micron Technology

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.

See Also

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Institutional Ownership by Quarter for Micron Technology (NASDAQ:MU)

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