Micron Technology, Inc. (NASDAQ:MU) Stake Lifted by Blue Trust Inc.

Blue Trust Inc. increased its position in shares of Micron Technology, Inc. (NASDAQ:MU) by 37.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,154 shares of the semiconductor manufacturer’s stock after purchasing an additional 3,878 shares during the period. Blue Trust Inc.’s holdings in Micron Technology were worth $1,468,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in MU. Hobbs Group Advisors LLC bought a new position in shares of Micron Technology during the 2nd quarter valued at about $28,000. DecisionPoint Financial LLC acquired a new position in Micron Technology in the first quarter worth approximately $25,000. Valued Wealth Advisors LLC increased its holdings in shares of Micron Technology by 230.7% in the first quarter. Valued Wealth Advisors LLC now owns 248 shares of the semiconductor manufacturer’s stock valued at $29,000 after buying an additional 173 shares in the last quarter. Richard W. Paul & Associates LLC lifted its position in shares of Micron Technology by 128.6% during the 2nd 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, LRI Investments LLC boosted its stake in shares of Micron Technology by 57.2% during the 2nd quarter. LRI Investments LLC now owns 272 shares of the semiconductor manufacturer’s stock worth $36,000 after acquiring an additional 99 shares in the last quarter. 80.84% of the stock is currently owned by institutional investors and hedge funds.

Micron Technology Stock Performance

NASDAQ:MU opened at $111.15 on Friday. The firm has a market capitalization of $123.25 billion, a PE ratio of -78.27 and a beta of 1.18. Micron Technology, Inc. has a 1 year low of $63.88 and a 1 year high of $157.54. 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 fifty day simple moving average is $98.64 and its 200 day simple moving average is $114.48.

Micron Technology (NASDAQ:MU) last issued its quarterly earnings results 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. Micron Technology had a return on equity of 1.58% and a net margin of 3.10%. The company had revenue of $7.75 billion for the quarter, compared to the consensus estimate of $7.65 billion. During the same period last year, the business posted ($1.21) earnings per share. The firm’s revenue was up 93.3% compared to the same quarter last year. On average, sell-side analysts anticipate that Micron Technology, Inc. will post 8.31 EPS for the current year.

Micron Technology Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 23rd. Stockholders of record on Monday, October 7th will be issued a dividend of $0.115 per share. The ex-dividend date is Monday, October 7th. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.41%. Micron Technology’s dividend payout ratio (DPR) is presently -32.39%.

Analyst Ratings Changes

MU has been the topic of a number of recent analyst reports. Wedbush reaffirmed an “outperform” rating and set a $140.00 target price on shares of Micron Technology in a research report on Thursday, September 26th. Bank of America raised their target price on Micron Technology from $110.00 to $125.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. TD Cowen upped their price target on Micron Technology from $115.00 to $135.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. Needham & Company LLC restated a “buy” rating and set a $140.00 price target on shares of Micron Technology in a report on Thursday, September 26th. Finally, Raymond James upped their price objective on shares of Micron Technology from $125.00 to $140.00 and gave the company an “outperform” 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-five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $142.85.

Insider Activity

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of the firm’s stock in a transaction 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 sale, the executive vice president now directly owns 135,830 shares in the company, valued at $15,348,790. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.32% of the stock is owned by company insiders.

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.