Bay Colony Advisory Group Inc d b a Bay Colony Advisors increased its holdings in Micron Technology, Inc. (NASDAQ:MU – Free Report) by 12.4% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,865 shares of the semiconductor manufacturer’s stock after buying an additional 315 shares during the quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors’ holdings in Micron Technology were worth $297,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in Micron Technology by 1.8% during the first quarter. Vanguard Group Inc. now owns 96,666,590 shares of the semiconductor manufacturer’s stock valued at $11,396,024,000 after purchasing an additional 1,681,815 shares in the last quarter. Capital World Investors lifted its holdings in Micron Technology by 6.6% during the first quarter. Capital World Investors now owns 22,748,381 shares of the semiconductor manufacturer’s stock valued at $2,681,807,000 after purchasing an additional 1,400,154 shares in the last quarter. Capital International Investors lifted its holdings in Micron Technology by 15.1% during the first quarter. Capital International Investors now owns 18,303,506 shares of the semiconductor manufacturer’s stock valued at $2,157,800,000 after purchasing an additional 2,397,885 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in Micron Technology by 22.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 18,243,633 shares of the semiconductor manufacturer’s stock valued at $2,150,743,000 after purchasing an additional 3,315,988 shares in the last quarter. Finally, Van ECK Associates Corp lifted its holdings in Micron Technology by 6.9% during the second quarter. Van ECK Associates Corp now owns 8,086,213 shares of the semiconductor manufacturer’s stock valued at $1,063,580,000 after purchasing an additional 519,641 shares in the last quarter. Hedge funds and other institutional investors own 80.84% of the company’s stock.
Analysts Set New Price Targets
Several equities analysts have weighed in on the stock. China Renaissance started coverage on shares of Micron Technology in a report on Monday. They set a “buy” rating and a $148.00 price target on the stock. Cantor Fitzgerald reissued an “overweight” rating and issued a $150.00 target price on shares of Micron Technology in a report on Tuesday, October 1st. Stifel Nicolaus lowered their target price 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. Robert W. Baird lowered their target price on shares of Micron Technology from $172.00 to $150.00 and set an “outperform” rating on the stock in a report on Friday, September 27th. Finally, Morgan Stanley boosted their target price on shares of Micron Technology from $100.00 to $114.00 and gave the stock an “equal weight” rating in a report on Thursday, September 26th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $143.04.
Micron Technology Stock Up 1.7 %
Shares of MU opened at $108.18 on Wednesday. The firm has a fifty day moving average price of $99.18 and a 200-day moving average price of $113.58. 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 has a market capitalization of $119.95 billion, a P/E ratio of -76.18 and a beta of 1.18. Micron Technology, Inc. has a 12-month low of $65.17 and a 12-month high of $157.54.
Micron Technology (NASDAQ:MU – Get Free Report) last released its quarterly earnings data 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. The company 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 quarterly revenue was up 93.3% on a year-over-year basis. During the same period in the previous year, the company earned ($1.21) EPS. Equities research analysts expect that Micron Technology, Inc. will post 8.31 earnings per share for the current year.
Micron Technology Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 23rd. Investors of record on Monday, October 7th were paid a $0.115 dividend. The ex-dividend date of this dividend was Monday, October 7th. This represents a $0.46 annualized dividend and a yield of 0.43%. Micron Technology’s dividend payout ratio (DPR) is currently -32.39%.
Insiders Place Their Bets
In other news, EVP April S. Arnzen sold 4,890 shares of the firm’s stock in a transaction 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 transaction, the executive vice president now owns 135,830 shares in the company, valued at approximately $15,348,790. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. 0.32% of the stock is currently 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.
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