EP Wealth Advisors LLC Increases Stock Holdings in Micron Technology, Inc. (NASDAQ:MU)

EP Wealth Advisors LLC raised its stake in shares of Micron Technology, Inc. (NASDAQ:MU) by 73.4% during the third quarter, Holdings Channel reports. The firm owned 28,930 shares of the semiconductor manufacturer’s stock after buying an additional 12,244 shares during the quarter. EP Wealth Advisors LLC’s holdings in Micron Technology were worth $3,000,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in MU. Insigneo Advisory Services LLC raised its position in shares of Micron Technology by 12.5% in the 3rd quarter. Insigneo Advisory Services LLC now owns 11,774 shares of the semiconductor manufacturer’s stock worth $1,221,000 after acquiring an additional 1,311 shares in the last quarter. Kovitz Investment Group Partners LLC grew its stake in Micron Technology by 61.9% in the third quarter. Kovitz Investment Group Partners LLC now owns 129,715 shares of the semiconductor manufacturer’s stock worth $13,453,000 after purchasing an additional 49,592 shares during the period. Wexford Capital LP raised its holdings in Micron Technology by 1,997.7% in the third quarter. Wexford Capital LP now owns 45,268 shares of the semiconductor manufacturer’s stock worth $4,695,000 after purchasing an additional 43,110 shares in the last quarter. Worldquant Millennium Advisors LLC lifted its position in Micron Technology by 254.4% during the third quarter. Worldquant Millennium Advisors LLC now owns 1,859,416 shares of the semiconductor manufacturer’s stock valued at $192,840,000 after buying an additional 1,334,690 shares during the period. Finally, Wahed Invest LLC boosted its holdings in shares of Micron Technology by 16.9% during the 3rd quarter. Wahed Invest LLC now owns 26,777 shares of the semiconductor manufacturer’s stock valued at $2,777,000 after buying an additional 3,866 shares in the last quarter. 80.84% of the stock is currently owned by institutional investors.

Insider Activity at Micron Technology

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the executive vice president now directly owns 135,830 shares in the company, valued at $15,348,790. This represents a 3.47 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.30% of the stock is owned by company insiders.

Micron Technology Stock Up 0.3 %

MU stock opened at $101.17 on Monday. The business’s 50-day moving average is $103.66 and its two-hundred day moving average is $110.39. The company has a market cap of $112.71 billion, a price-to-earnings ratio of 148.78 and a beta of 1.16. Micron Technology, Inc. has a fifty-two week low of $72.99 and a fifty-two week high of $157.54. 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 quarterly earnings data on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.97 by $0.21. Micron Technology had a net margin of 3.10% and a return on equity of 1.58%. The company had revenue of $7.75 billion for the quarter, compared to the consensus estimate of $7.65 billion. During the same quarter last year, the firm posted ($1.21) earnings per share. The firm’s revenue was up 93.3% compared to the same quarter last year. As a group, analysts forecast that Micron Technology, Inc. will post 8.31 earnings per share for the current year.

Micron Technology Announces Dividend

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

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Wells Fargo & Company lowered their price target 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. Robert W. Baird lowered their target price on shares of Micron Technology from $172.00 to $150.00 and set an “outperform” rating for the company in a report on Friday, September 27th. Needham & Company LLC restated a “buy” rating and issued a $140.00 price target on shares of Micron Technology in a research note on Thursday, September 26th. Bank of America lifted their price objective on Micron Technology from $110.00 to $125.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. Finally, China Renaissance started coverage on Micron Technology in a research note on Monday, October 28th. They issued a “buy” rating and a $148.00 target price on the stock. One analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-six have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $143.04.

About Micron Technology

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.