Guild Investment Management Inc. Buys 35,866 Shares of Micron Technology, Inc. (NASDAQ:MU)

Guild Investment Management Inc. increased its stake in shares of Micron Technology, Inc. (NASDAQ:MU) by 739.7% during the 3rd quarter, Holdings Channel reports. The fund owned 40,715 shares of the semiconductor manufacturer’s stock after purchasing an additional 35,866 shares during the quarter. Micron Technology makes up about 4.5% of Guild Investment Management Inc.’s investment portfolio, making the stock its 6th largest position. Guild Investment Management Inc.’s holdings in Micron Technology were worth $4,223,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Jessup Wealth Management Inc boosted its position in Micron Technology by 8.1% during the third quarter. Jessup Wealth Management Inc now owns 60,895 shares of the semiconductor manufacturer’s stock worth $6,315,000 after purchasing an additional 4,586 shares in the last quarter. Independence Bank of Kentucky boosted its position in Micron Technology by 291.1% during the third quarter. Independence Bank of Kentucky now owns 8,451 shares of the semiconductor manufacturer’s stock worth $876,000 after purchasing an additional 6,290 shares in the last quarter. Clarius Group LLC boosted its position in Micron Technology by 12.2% during the third quarter. Clarius Group LLC now owns 9,055 shares of the semiconductor manufacturer’s stock worth $939,000 after purchasing an additional 987 shares in the last quarter. Watts Gwilliam & Co. LLC purchased a new position in Micron Technology during the third quarter worth approximately $815,000. Finally, LifePro Asset Management purchased a new position in Micron Technology during the third quarter worth approximately $2,333,000. 80.84% of the stock is owned by institutional investors and hedge funds.

Micron Technology Trading Up 1.3 %

MU stock traded up $1.34 during midday trading on Friday, hitting $107.03. 7,717,399 shares of the company’s stock were exchanged, compared to its average volume of 22,274,367. The business has a 50-day simple moving average of $96.48 and a two-hundred day simple moving average of $114.97. 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 stock has a market capitalization of $118.67 billion, a PE ratio of 157.72 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.

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, 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 firm had revenue of $7.75 billion for the quarter, compared to the consensus estimate of $7.65 billion. During the same quarter in the previous year, the business earned ($1.21) EPS. The company’s quarterly revenue was up 93.3% compared to the same quarter last year. On average, sell-side analysts predict that Micron Technology, Inc. will post 8.31 EPS for the current fiscal year.

Micron Technology Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 23rd. Investors of record on Monday, October 7th will be given a $0.115 dividend. The ex-dividend date of this dividend is Monday, October 7th. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.43%. Micron Technology’s dividend payout ratio (DPR) is presently 67.65%.

Analyst Ratings Changes

A number of equities analysts have issued reports on MU shares. Morgan Stanley increased their price target on Micron Technology from $100.00 to $114.00 and gave the stock an “equal weight” rating in a research report on Thursday, September 26th. Susquehanna decreased their target price on Micron Technology from $175.00 to $165.00 and set a “positive” rating on the stock in a research report on Thursday, September 26th. JPMorgan Chase & Co. raised their target price on Micron Technology from $130.00 to $180.00 and gave the company an “overweight” rating in a research report on Thursday, June 27th. TD Cowen raised their target price on Micron Technology from $115.00 to $135.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. Finally, Wedbush restated an “outperform” rating and issued a $140.00 target price on shares of Micron Technology in a research report 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 issued a buy rating to the company. According to MarketBeat.com, Micron Technology has a consensus rating of “Moderate Buy” and an average target price of $142.85.

Insider Activity at Micron Technology

In related news, EVP April S. Arnzen sold 4,890 shares of the company’s stock in a transaction dated 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 sale, the executive vice president now directly owns 135,830 shares of the company’s stock, valued at $15,348,790. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.32% of the company’s stock.

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.