Micron Technology, Inc. (NASDAQ:MU) Position Increased by CreativeOne Wealth LLC

CreativeOne Wealth LLC lifted its holdings in Micron Technology, Inc. (NASDAQ:MU) by 12.8% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 7,231 shares of the semiconductor manufacturer’s stock after buying an additional 823 shares during the quarter. CreativeOne Wealth LLC’s holdings in Micron Technology were worth $750,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Highline Wealth Partners LLC acquired a new stake in Micron Technology in the third quarter worth $26,000. Hobbs Group Advisors LLC bought a new stake in Micron Technology in the 2nd quarter valued at about $28,000. Davis Capital Management bought a new stake in Micron Technology in the 3rd quarter valued at about $30,000. Richard W. Paul & Associates LLC boosted its stake in Micron Technology by 128.6% during the 2nd 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 period. Finally, DT Investment Partners LLC grew its position in Micron Technology by 261.1% in the 3rd quarter. DT Investment Partners LLC now owns 325 shares of the semiconductor manufacturer’s stock worth $34,000 after purchasing an additional 235 shares during the last quarter. 80.84% of the stock is owned by institutional investors and hedge funds.

Micron Technology Price Performance

Shares of MU opened at $97.95 on Friday. The business’s 50-day moving average is $103.60 and its 200-day moving average is $111.44. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.64 and a quick ratio of 1.68. 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, Inc. has a fifty-two week low of $72.93 and a fifty-two week high of $157.54.

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

Micron Technology Dividend Announcement

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

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on MU shares. China Renaissance assumed coverage on Micron Technology in a research report on Monday, October 28th. They set a “buy” rating and a $148.00 price objective for the company. Citigroup reduced their price target on Micron Technology from $175.00 to $150.00 and set a “buy” rating for the company in a research report on Tuesday, September 17th. Robert W. Baird lowered their price target on Micron Technology from $172.00 to $150.00 and set an “outperform” rating on the stock in a report on Friday, September 27th. Morgan Stanley upped their price objective 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. Finally, BNP Paribas cut shares of Micron Technology from an “outperform” rating to an “underperform” rating and lowered their target price for the company from $140.00 to $67.00 in a research note on Thursday, September 12th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and twenty-six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $143.04.

Insider Activity at Micron Technology

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of the firm’s stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $113.00, for a total transaction of $552,570.00. Following the transaction, the executive vice president now directly owns 135,830 shares in the company, valued at $15,348,790. This trade represents a 3.47 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.32% of the stock is currently owned by company insiders.

Micron Technology 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.