Tradewinds LLC. Raises Stake in Micron Technology, Inc. (NASDAQ:MU)

Tradewinds LLC. increased its holdings in shares of Micron Technology, Inc. (NASDAQ:MU) by 22.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,201 shares of the semiconductor manufacturer’s stock after purchasing an additional 3,937 shares during the quarter. Tradewinds LLC.’s holdings in Micron Technology were worth $2,199,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Highline Wealth Partners LLC purchased a new position in shares of Micron Technology in the 3rd quarter worth approximately $26,000. Hobbs Group Advisors LLC bought a new stake in Micron Technology in the second quarter worth $28,000. Davis Capital Management purchased a new position in Micron Technology during the third quarter worth $30,000. 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 valued at $34,000 after acquiring an additional 144 shares during the last quarter. Finally, DT Investment Partners LLC raised its stake in shares of 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 acquiring an additional 235 shares during the period. 80.84% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Wedbush reissued an “outperform” rating and issued a $140.00 price objective on shares of Micron Technology in a research report on Thursday, September 26th. Raymond James boosted their price objective on Micron Technology from $125.00 to $140.00 and gave the company an “outperform” rating in a report on Thursday, September 26th. Bank of America increased their target price on Micron Technology from $110.00 to $125.00 and gave the stock a “buy” rating in a research note on Thursday, September 26th. Stifel Nicolaus lowered their target price on shares of Micron Technology from $165.00 to $135.00 and set a “buy” rating for the company in a research note on Thursday, September 19th. Finally, Morgan Stanley raised their price target on shares of Micron Technology from $100.00 to $114.00 and gave the stock an “equal weight” rating in a research note on Thursday, September 26th. One equities research 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 company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $143.04.

Insider Activity

In other Micron Technology 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 transaction of $552,570.00. Following the completion of the sale, the executive vice president now directly owns 135,830 shares in the company, valued at approximately $15,348,790. The trade was a 3.47 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.32% of the company’s stock.

Micron Technology Stock Up 0.7 %

Shares of Micron Technology stock opened at $98.37 on Thursday. Micron Technology, Inc. has a 52-week low of $72.93 and a 52-week high of $157.54. The firm’s 50 day moving average price is $101.93 and its 200-day moving average price is $112.42. The company has a quick ratio of 1.68, a current ratio of 2.64 and a debt-to-equity ratio of 0.29. The company has a market cap of $109.07 billion, a P/E ratio of 144.66 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 (EPS) for the quarter, beating the consensus estimate of $0.97 by $0.21. The firm 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% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($1.21) earnings per share. On average, sell-side analysts predict that Micron Technology, Inc. will post 8.31 EPS for the current fiscal year.

Micron Technology Dividend Announcement

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