Micron Technology, Inc. (NASDAQ:MU) Stock Position Raised by GFG Capital LLC

GFG Capital LLC lifted its stake in Micron Technology, Inc. (NASDAQ:MU) by 2.4% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 21,386 shares of the semiconductor manufacturer’s stock after acquiring an additional 502 shares during the period. GFG Capital LLC’s holdings in Micron Technology were worth $2,218,000 at the end of the most recent reporting period.

Several other institutional investors also recently added to or reduced their stakes in the business. DecisionPoint Financial LLC bought a new stake in shares of Micron Technology during the first quarter worth $25,000. Hobbs Group Advisors LLC acquired a new position in Micron Technology in the second quarter valued at about $28,000. Valued Wealth Advisors LLC grew its stake in 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 acquiring an additional 173 shares during the period. Davis Capital Management acquired a new position in Micron Technology in the third quarter valued at about $30,000. Finally, Richard W. Paul & Associates LLC grew its stake in Micron Technology by 128.6% in 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 period. 80.84% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on MU. TD Cowen boosted their target price on Micron Technology from $115.00 to $135.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. Rosenblatt Securities upped their price objective on Micron Technology from $225.00 to $250.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. Bank of America increased their price objective on Micron Technology from $110.00 to $125.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. Robert W. Baird decreased their price objective on Micron Technology from $172.00 to $150.00 and set an “outperform” rating for the company in a report on Friday, September 27th. Finally, JPMorgan Chase & Co. increased their price objective on Micron Technology from $130.00 to $180.00 and gave the stock an “overweight” rating in a report on Thursday, June 27th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-five have assigned a buy rating to the stock. According to data from MarketBeat.com, Micron Technology has an average rating of “Moderate Buy” and a consensus price target of $142.85.

Micron Technology Stock Performance

MU opened at $109.08 on Tuesday. The stock has a market cap of $120.95 billion, a price-to-earnings ratio of -76.82 and a beta of 1.18. The business has a 50 day moving average of $98.93 and a 200-day moving average of $114.28. The company has a quick ratio of 1.68, a current ratio of 2.64 and a debt-to-equity ratio of 0.29. Micron Technology, Inc. has a 12-month low of $63.88 and a 12-month high of $157.54.

Micron Technology (NASDAQ:MU) last released its quarterly earnings results on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 earnings per share for the quarter, topping 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 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) EPS. On average, equities research analysts expect that Micron Technology, Inc. will post 8.31 earnings per share for the current year.

Micron Technology Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 23rd. Investors of record on Monday, October 7th will be issued a dividend of $0.115 per share. The ex-dividend date of this dividend is Monday, October 7th. This represents a $0.46 annualized dividend and a yield of 0.42%. Micron Technology’s payout ratio is currently -32.39%.

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 stock was sold at an average price of $113.00, for a total value of $552,570.00. Following the completion of the transaction, the executive vice president now directly owns 135,830 shares of the company’s stock, valued at $15,348,790. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.32% of the stock is currently owned by 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.