Micron Technology, Inc. (NASDAQ:MU) Shares Purchased by Kovack Advisors Inc.

Kovack Advisors Inc. lifted its stake in shares of Micron Technology, Inc. (NASDAQ:MU) by 13.1% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 5,412 shares of the semiconductor manufacturer’s stock after purchasing an additional 628 shares during the period. Kovack Advisors Inc.’s holdings in Micron Technology were worth $561,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in MU. Nwam LLC boosted its stake in Micron Technology by 50.0% in the first quarter. Nwam LLC now owns 9,604 shares of the semiconductor manufacturer’s stock valued at $1,144,000 after acquiring an additional 3,202 shares during the period. Banco Santander S.A. increased its position in Micron Technology by 96.2% in the first quarter. Banco Santander S.A. now owns 94,799 shares of the semiconductor manufacturer’s stock worth $11,176,000 after buying an additional 46,488 shares during the period. M&G Plc bought a new stake in Micron Technology in the first quarter valued at $15,172,000. Intech Investment Management LLC boosted its holdings in shares of Micron Technology by 6.5% during the first quarter. Intech Investment Management LLC now owns 44,025 shares of the semiconductor manufacturer’s stock valued at $5,190,000 after acquiring an additional 2,701 shares during the period. Finally, Alera Investment Advisors LLC bought a new position in shares of Micron Technology during the first quarter worth about $258,000. Institutional investors and hedge funds own 80.84% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on MU. Wells Fargo & Company decreased their target price on shares of Micron Technology from $190.00 to $175.00 and set an “overweight” rating for the company in a research report on Wednesday, September 18th. Needham & Company LLC restated a “buy” rating and issued a $140.00 target price on shares of Micron Technology in a research report on Thursday, September 26th. Robert W. Baird reduced their price target on Micron Technology from $172.00 to $150.00 and set an “outperform” rating for the company in a research report on Friday, September 27th. KeyCorp lowered their price target on Micron Technology from $145.00 to $135.00 and set an “overweight” rating on the stock in a report on Tuesday, October 8th. Finally, Raymond James upped their price objective on shares of Micron Technology from $125.00 to $140.00 and gave the stock an “outperform” rating in a report on Thursday, September 26th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-six have issued a buy rating to the stock. Based on data from MarketBeat.com, Micron Technology currently has a consensus rating of “Moderate Buy” and an average target price of $143.04.

Insider Buying and Selling

In other news, EVP April S. Arnzen sold 4,890 shares of Micron Technology stock in a transaction that occurred 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 transaction, the executive vice president now owns 135,830 shares of the company’s stock, valued at $15,348,790. This trade represents a 3.47 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.32% of the stock is currently owned by corporate insiders.

Micron Technology Price Performance

Shares of NASDAQ:MU opened at $99.18 on Friday. The business has a fifty day simple moving average of $100.93 and a 200 day simple moving average of $112.94. The company has a current ratio of 2.64, a quick ratio of 1.68 and a debt-to-equity ratio of 0.29. Micron Technology, Inc. has a 1 year low of $72.93 and a 1 year high of $157.54. The firm has a market cap of $109.96 billion, a price-to-earnings ratio of 145.86 and a beta of 1.18.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings results on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 EPS for the quarter, beating the consensus estimate of $0.97 by $0.21. The business had revenue of $7.75 billion during the quarter, compared to analysts’ expectations of $7.65 billion. Micron Technology had a return on equity of 1.58% and a net margin of 3.10%. The firm’s quarterly revenue was up 93.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($1.21) EPS. As a group, sell-side analysts predict that Micron Technology, Inc. will post 8.31 earnings per share for the current fiscal year.

Micron Technology Announces Dividend

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

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.