Arvest Investments Inc. Boosts Stake in Micron Technology, Inc. (NASDAQ:MU)

Arvest Investments Inc. boosted its position in Micron Technology, Inc. (NASDAQ:MU) by 1.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 20,842 shares of the semiconductor manufacturer’s stock after acquiring an additional 243 shares during the quarter. Arvest Investments Inc.’s holdings in Micron Technology were worth $2,162,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Highline Wealth Partners LLC bought a new stake in Micron Technology in the third quarter worth $26,000. Hobbs Group Advisors LLC purchased a new stake in Micron Technology during the 2nd quarter valued at about $28,000. Davis Capital Management bought a new position in Micron Technology during the 3rd quarter worth approximately $30,000. Richard W. Paul & Associates LLC increased its stake in Micron Technology by 128.6% in the 2nd quarter. Richard W. Paul & Associates LLC now owns 256 shares of the semiconductor manufacturer’s stock worth $34,000 after purchasing an additional 144 shares during the period. Finally, DT Investment Partners LLC lifted its position in Micron Technology by 261.1% in the third quarter. DT Investment Partners LLC now owns 325 shares of the semiconductor manufacturer’s stock valued at $34,000 after purchasing an additional 235 shares during the last quarter. 80.84% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

MU has been the subject of several recent analyst reports. Rosenblatt Securities upped their price objective on shares of Micron Technology from $225.00 to $250.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. Needham & Company LLC reaffirmed a “buy” rating and set a $140.00 price target on shares of Micron Technology in a research report on Thursday, September 26th. Raymond James lifted their price objective on Micron Technology from $125.00 to $140.00 and gave the stock an “outperform” rating in a research report on Thursday, September 26th. KeyCorp decreased their target price on Micron Technology from $145.00 to $135.00 and set an “overweight” rating for the company in a report on Tuesday, October 8th. Finally, 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 note on Thursday, September 26th. One analyst has rated the stock with a sell rating, two have given a hold rating and twenty-six have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $143.04.

Micron Technology Stock Performance

Micron Technology stock traded down $1.51 during trading on Friday, reaching $111.90. The company had a trading volume of 13,045,721 shares, compared to its average volume of 17,080,670. The firm has a market capitalization of $124.07 billion, a price-to-earnings ratio of 164.56 and a beta of 1.18. The company has a current ratio of 2.64, a quick ratio of 1.68 and a debt-to-equity ratio of 0.29. The firm’s 50-day simple moving average is $100.16 and its 200 day simple moving average is $113.12. Micron Technology, Inc. has a 52 week low of $72.93 and a 52 week high of $157.54.

Micron Technology (NASDAQ:MU) last issued its quarterly earnings results on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 earnings per share for the quarter, beating the consensus estimate of $0.97 by $0.21. The business had revenue of $7.75 billion for the quarter, compared to the consensus estimate of $7.65 billion. Micron Technology had a net margin of 3.10% and a return on equity of 1.58%. The company’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 earned ($1.21) earnings per share. Sell-side analysts forecast that Micron Technology, Inc. will post 8.31 earnings per share for the current fiscal 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. This represents a $0.46 annualized dividend and a dividend yield of 0.41%. The ex-dividend date of this dividend was Monday, October 7th. Micron Technology’s payout ratio is currently 67.65%.

Insider Transactions at Micron Technology

In other news, EVP April S. Arnzen sold 4,890 shares of Micron Technology stock in a transaction dated Thursday, September 26th. The stock was 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. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.32% 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.