Icon Wealth Advisors LLC Buys New Position in Micron Technology, Inc. (NASDAQ:MU)

Icon Wealth Advisors LLC purchased a new position in Micron Technology, Inc. (NASDAQ:MU) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 1,795 shares of the semiconductor manufacturer’s stock, valued at approximately $186,000.

Other institutional investors have also recently made changes to their positions in the company. Primecap Management Co. CA grew its position in Micron Technology by 0.6% during the third quarter. Primecap Management Co. CA now owns 37,631,860 shares of the semiconductor manufacturer’s stock valued at $3,902,800,000 after acquiring an additional 206,499 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Micron Technology by 21.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 11,326,224 shares of the semiconductor manufacturer’s stock valued at $1,174,643,000 after purchasing an additional 2,022,180 shares in the last quarter. Van ECK Associates Corp grew its holdings in shares of Micron Technology by 30.6% during the 3rd quarter. Van ECK Associates Corp now owns 10,564,198 shares of the semiconductor manufacturer’s stock valued at $1,109,769,000 after purchasing an additional 2,477,985 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in Micron Technology by 1.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 6,721,126 shares of the semiconductor manufacturer’s stock worth $697,048,000 after purchasing an additional 65,591 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. lifted its stake in Micron Technology by 7.4% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 4,276,245 shares of the semiconductor manufacturer’s stock worth $443,489,000 after purchasing an additional 295,452 shares during the last quarter. Institutional investors own 80.84% of the company’s stock.

Insider Buying and Selling at Micron Technology

In other news, EVP April S. Arnzen sold 4,890 shares of the business’s stock in a transaction on Thursday, September 26th. The stock was sold at an average price of $113.00, for a total value of $552,570.00. Following the completion of the transaction, the executive vice president now 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.32% of the stock is owned by company insiders.

Micron Technology Price Performance

Shares of NASDAQ MU opened at $97.95 on Friday. 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 company has a 50 day simple moving average of $103.60 and a two-hundred day simple moving average of $111.44. Micron Technology, Inc. has a fifty-two week low of $72.93 and a fifty-two week high of $157.54. The company has a market capitalization of $108.60 billion, a price-to-earnings ratio of 144.04 and a beta of 1.18.

Micron Technology (NASDAQ:MU) last posted its quarterly earnings data on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 earnings per share for the quarter, beating analysts’ consensus estimates of $0.97 by $0.21. Micron Technology had a return on equity of 1.58% and a net margin of 3.10%. The company had revenue of $7.75 billion during the quarter, compared to analyst estimates of $7.65 billion. During the same quarter last year, the company earned ($1.21) EPS. The firm’s revenue for the quarter was up 93.3% on a year-over-year basis. Analysts expect that Micron Technology, Inc. will post 8.31 EPS for the current fiscal year.

Micron Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 23rd. Investors of record on Monday, October 7th were given a dividend of $0.115 per share. This represents a $0.46 annualized dividend and a yield of 0.47%. The ex-dividend date was Monday, October 7th. Micron Technology’s dividend payout ratio (DPR) is 67.65%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Susquehanna decreased their price objective on Micron Technology from $175.00 to $165.00 and set a “positive” rating on the stock in a report on Thursday, September 26th. Stifel Nicolaus decreased their price target 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. Citigroup dropped 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. Wells Fargo & Company decreased their target price on shares of Micron Technology from $190.00 to $175.00 and set an “overweight” rating on the stock in a research note on Wednesday, September 18th. Finally, Wedbush reissued an “outperform” rating and set a $140.00 price target on shares of Micron Technology in a research report on Thursday, September 26th. One analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $143.04.

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.