Micron Technology, Inc. (NASDAQ:MU) Shares Acquired by Summit Trail Advisors LLC

Summit Trail Advisors LLC increased its position in Micron Technology, Inc. (NASDAQ:MU) by 11.7% in the 3rd quarter, Holdings Channel reports. The firm owned 16,857 shares of the semiconductor manufacturer’s stock after buying an additional 1,768 shares during the period. Summit Trail Advisors LLC’s holdings in Micron Technology were worth $1,748,000 as of its most recent filing with the SEC.

A number of other large investors have also recently made changes to their positions in the company. EntryPoint Capital LLC purchased a new position in Micron Technology during the 1st quarter worth $41,000. Advisors Asset Management Inc. grew its holdings in shares of Micron Technology by 513.5% during the first quarter. Advisors Asset Management Inc. now owns 5,902 shares of the semiconductor manufacturer’s stock worth $696,000 after buying an additional 4,940 shares during the last quarter. Gamco Investors INC. ET AL acquired a new position in Micron Technology in the 1st quarter valued at about $290,000. Waverly Advisors LLC raised its stake in Micron Technology by 32.4% during the 1st quarter. Waverly Advisors LLC now owns 15,077 shares of the semiconductor manufacturer’s stock valued at $1,777,000 after acquiring an additional 3,689 shares during the last quarter. Finally, Janus Henderson Group PLC lifted its position in Micron Technology by 16.8% during the 1st quarter. Janus Henderson Group PLC now owns 2,126,081 shares of the semiconductor manufacturer’s stock worth $250,612,000 after acquiring an additional 306,229 shares during the period. 80.84% of the stock is owned by institutional investors and hedge funds.

Micron Technology Price Performance

NASDAQ MU opened at $102.64 on Monday. Micron Technology, Inc. has a 12 month low of $72.93 and a 12 month high of $157.54. 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 firm has a market capitalization of $113.80 billion, a PE ratio of 150.94 and a beta of 1.18. The company’s 50 day simple moving average is $102.46 and its 200 day simple moving average is $112.13.

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

Micron Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 23rd. Investors of record on Monday, October 7th were issued a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a yield of 0.45%. The ex-dividend date was Monday, October 7th. Micron Technology’s payout ratio is 67.65%.

Insider Buying and Selling

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of Micron Technology stock in a transaction 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 owns 135,830 shares of the company’s stock, valued at $15,348,790. This trade represents a 3.47 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 0.32% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Wedbush restated an “outperform” rating and set a $140.00 price target on shares of Micron Technology in a research note on Thursday, September 26th. TD Cowen upped their price objective on shares of Micron Technology from $115.00 to $135.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. Susquehanna lowered their target price on shares of Micron Technology from $175.00 to $165.00 and set a “positive” rating on the stock in a report on Thursday, September 26th. Bank of America increased their price target on shares of Micron Technology from $110.00 to $125.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. Finally, UBS Group reduced their price objective on shares of Micron Technology from $153.00 to $135.00 and set a “buy” rating for the company in a research report on Tuesday, September 17th. One research 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 company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price 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.