True Wealth Design LLC Acquires 296 Shares of Micron Technology, Inc. (NASDAQ:MU)

True Wealth Design LLC raised its stake in shares of Micron Technology, Inc. (NASDAQ:MU) by 1,096.3% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 323 shares of the semiconductor manufacturer’s stock after acquiring an additional 296 shares during the period. True Wealth Design LLC’s holdings in Micron Technology were worth $33,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Timber Creek Capital Management LLC boosted its stake in shares of Micron Technology by 3.7% in the 3rd quarter. Timber Creek Capital Management LLC now owns 52,227 shares of the semiconductor manufacturer’s stock worth $5,416,000 after buying an additional 1,866 shares during the last quarter. ARGA Investment Management LP lifted its holdings in Micron Technology by 4.4% in the third quarter. ARGA Investment Management LP now owns 22,405 shares of the semiconductor manufacturer’s stock valued at $2,324,000 after acquiring an additional 945 shares during the period. TRUE Private Wealth Advisors boosted its position in Micron Technology by 180.0% in the third quarter. TRUE Private Wealth Advisors now owns 11,697 shares of the semiconductor manufacturer’s stock worth $1,213,000 after purchasing an additional 7,519 shares during the last quarter. Channing Global Advisors LLC bought a new stake in shares of Micron Technology during the 3rd quarter valued at about $3,318,000. Finally, Icon Wealth Advisors LLC purchased a new stake in shares of Micron Technology during the 3rd quarter valued at about $186,000. Institutional investors own 80.84% of the company’s stock.

Analyst Upgrades and Downgrades

MU has been the topic of a number of research reports. Stifel Nicolaus dropped their price objective on shares of Micron Technology from $165.00 to $135.00 and set a “buy” rating on the stock in a report on Thursday, September 19th. Susquehanna decreased their price target on shares of Micron Technology from $175.00 to $165.00 and set a “positive” rating on the stock in a research report on Thursday, September 26th. Wells Fargo & Company cut their price objective 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. Raymond James raised their target price on Micron Technology from $125.00 to $140.00 and gave the stock an “outperform” rating in a report on Thursday, September 26th. Finally, Wedbush reissued an “outperform” rating and set a $140.00 price target on shares of Micron Technology in a report 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 company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $143.04.

Insider Activity

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of the business’s stock in a transaction that occurred on Thursday, September 26th. The stock was sold at an average price of $113.00, for a total transaction of $552,570.00. Following the completion of the transaction, the executive vice president now owns 135,830 shares in the company, valued at $15,348,790. The trade was a 3.47 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.32% of the company’s stock.

Micron Technology Stock Down 0.3 %

NASDAQ MU opened at $97.95 on Monday. The stock has a 50 day moving average price of $103.60 and a 200-day moving average price of $111.32. Micron Technology, Inc. has a one year low of $72.93 and a one year high of $157.54. The company has a market capitalization of $109.12 billion, a P/E ratio of 144.05 and a beta of 1.18. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.68 and a current ratio of 2.64.

Micron Technology (NASDAQ:MU) last posted 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 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 business’s quarterly revenue was up 93.3% on a year-over-year basis. During the same period in the previous year, the firm posted ($1.21) EPS. As a group, equities analysts predict that Micron Technology, Inc. will post 8.31 EPS for the current fiscal year.

Micron Technology Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 23rd. Stockholders of record on Monday, October 7th were issued a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.47%. The ex-dividend date was Monday, October 7th. Micron Technology’s dividend payout ratio (DPR) is 67.65%.

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.