Deepwater Asset Management LLC Has $15.49 Million Position in Micron Technology, Inc. (NASDAQ:MU)

Deepwater Asset Management LLC grew its position in shares of Micron Technology, Inc. (NASDAQ:MU) by 44.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 149,336 shares of the semiconductor manufacturer’s stock after purchasing an additional 46,032 shares during the period. Micron Technology makes up 5.4% of Deepwater Asset Management LLC’s portfolio, making the stock its 2nd biggest holding. Deepwater Asset Management LLC’s holdings in Micron Technology were worth $15,488,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Hennion & Walsh Asset Management Inc. bought a new position in shares of Micron Technology in the 1st quarter worth $273,000. Allspring Global Investments Holdings LLC increased its stake in Micron Technology by 88.4% in the first quarter. Allspring Global Investments Holdings LLC now owns 482,031 shares of the semiconductor manufacturer’s stock valued at $56,827,000 after acquiring an additional 226,191 shares during the last quarter. SeaCrest Wealth Management LLC raised its position in Micron Technology by 77.2% during the first quarter. SeaCrest Wealth Management LLC now owns 9,948 shares of the semiconductor manufacturer’s stock valued at $1,173,000 after purchasing an additional 4,334 shares in the last quarter. Valley National Advisers Inc. lifted its stake in Micron Technology by 65.1% during the first quarter. Valley National Advisers Inc. now owns 720 shares of the semiconductor manufacturer’s stock worth $84,000 after purchasing an additional 284 shares during the last quarter. Finally, Norden Group LLC boosted its holdings in shares of Micron Technology by 1,916.7% in the 1st quarter. Norden Group LLC now owns 50,134 shares of the semiconductor manufacturer’s stock worth $5,910,000 after purchasing an additional 47,648 shares in the last quarter. Hedge funds and other institutional investors own 80.84% of the company’s stock.

Wall Street Analysts Forecast Growth

MU has been the subject of a number of recent research reports. Raymond James boosted their target price on Micron Technology from $125.00 to $140.00 and gave the stock an “outperform” rating in a research report on Thursday, September 26th. Wedbush reaffirmed an “outperform” rating and issued a $140.00 price objective on shares of Micron Technology in a research note on Thursday, September 26th. Susquehanna decreased their target price on shares of Micron Technology from $175.00 to $165.00 and set a “positive” rating on the stock in a research report on Thursday, September 26th. China Renaissance initiated coverage on Micron Technology in a research note on Monday. They issued a “buy” rating and a $148.00 target price for the company. Finally, Rosenblatt Securities increased their target price on Micron Technology from $225.00 to $250.00 and gave the company a “buy” rating in a report on Thursday, September 26th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-six have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $143.04.

Insider Transactions at Micron Technology

In other news, EVP April S. Arnzen sold 4,890 shares of Micron Technology 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 transaction, the executive vice president now 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 transaction 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 Stock Performance

Shares of MU stock opened at $106.39 on Tuesday. Micron Technology, Inc. has a 12 month low of $65.17 and a 12 month high of $157.54. The stock has a market cap of $117.97 billion, a PE ratio of -74.92 and a beta of 1.18. The company’s fifty day moving average price is $99.18 and its 200-day moving average price is $113.68. The company has a current ratio of 2.64, a quick ratio of 1.68 and a debt-to-equity ratio of 0.29.

Micron Technology (NASDAQ:MU) last announced its earnings results on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 earnings per share for the quarter, beating 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 business had revenue of $7.75 billion during the quarter, compared to the consensus estimate of $7.65 billion. During the same quarter last year, the firm earned ($1.21) earnings per share. The business’s revenue for the quarter was up 93.3% on a year-over-year basis. On average, equities analysts expect that Micron Technology, Inc. will post 8.31 EPS for the current fiscal year.

Micron Technology Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 23rd. Shareholders of record on Monday, October 7th were issued a $0.115 dividend. This represents a $0.46 annualized dividend and a yield of 0.43%. The ex-dividend date of this dividend was Monday, October 7th. Micron Technology’s dividend payout ratio (DPR) is -32.39%.

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.