Balboa Wealth Partners Buys 2,761 Shares of Micron Technology, Inc. (NASDAQ:MU)

Balboa Wealth Partners increased its position in Micron Technology, Inc. (NASDAQ:MU) by 22.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,063 shares of the semiconductor manufacturer’s stock after acquiring an additional 2,761 shares during the quarter. Balboa Wealth Partners’ holdings in Micron Technology were worth $1,562,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of MU. Vanguard Group Inc. grew its holdings in Micron Technology by 1.8% in 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 during the period. Capital World Investors raised its holdings in shares of Micron Technology by 6.6% in the 1st quarter. Capital World Investors now owns 22,748,381 shares of the semiconductor manufacturer’s stock valued at $2,681,807,000 after buying an additional 1,400,154 shares during the period. Capital International Investors raised its holdings in shares of Micron Technology by 15.1% in the 1st quarter. Capital International Investors now owns 18,303,506 shares of the semiconductor manufacturer’s stock valued at $2,157,800,000 after buying an additional 2,397,885 shares during the period. Price T Rowe Associates Inc. MD grew its stake in Micron Technology by 22.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 18,243,633 shares of the semiconductor manufacturer’s stock worth $2,150,743,000 after purchasing an additional 3,315,988 shares in the last quarter. Finally, Van ECK Associates Corp boosted its position in shares of Micron Technology by 30.6% during the 3rd quarter. Van ECK Associates Corp now owns 10,564,198 shares of the semiconductor manufacturer’s stock worth $1,109,769,000 after acquiring an additional 2,477,985 shares in the last quarter. 80.84% of the stock is owned by hedge funds and other institutional investors.

Micron Technology Stock Performance

NASDAQ:MU opened at $99.18 on Friday. The stock has a market capitalization of $109.96 billion, a P/E ratio of 145.86 and a beta of 1.18. Micron Technology, Inc. has a fifty-two week low of $72.93 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. The company has a 50 day moving average price of $100.93 and a 200 day moving average price of $112.94.

Micron Technology (NASDAQ:MU) last issued its earnings results on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to the consensus estimate of $7.65 billion. During the same quarter in the previous year, the firm earned ($1.21) earnings per share. The business’s quarterly revenue was up 93.3% compared to the same quarter last year. Equities research analysts forecast that Micron Technology, Inc. will post 8.31 EPS for the current year.

Micron Technology Announces Dividend

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

Insider Transactions at Micron Technology

In other news, EVP April S. Arnzen sold 4,890 shares of the firm’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 transaction, the executive vice president now owns 135,830 shares in the company, valued at $15,348,790. This trade represents a 3.47 % 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 corporate insiders.

Analyst Ratings Changes

MU has been the topic of several research reports. KeyCorp cut their target price on Micron Technology from $145.00 to $135.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 8th. Wells Fargo & Company cut their target price on Micron Technology from $190.00 to $175.00 and set an “overweight” rating for the company in a research report on Wednesday, September 18th. Susquehanna dropped their price target on shares of Micron Technology from $175.00 to $165.00 and set a “positive” rating on the stock in a research note on Thursday, September 26th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $150.00 price target on shares of Micron Technology in a research note on Tuesday, October 1st. Finally, BNP Paribas downgraded shares of Micron Technology from an “outperform” rating to an “underperform” rating and lowered their target price for the stock from $140.00 to $67.00 in a research report on Thursday, September 12th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $143.04.

Micron Technology 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.