Micron Technology, Inc. (NASDAQ:MU) Shares Acquired by Moran Wealth Management LLC

Moran Wealth Management LLC boosted its position in shares of Micron Technology, Inc. (NASDAQ:MU) by 14.9% during the third quarter, Holdings Channel reports. The firm owned 13,011 shares of the semiconductor manufacturer’s stock after buying an additional 1,687 shares during the quarter. Moran Wealth Management LLC’s holdings in Micron Technology were worth $1,349,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of MU. Highline Wealth Partners LLC acquired a new position in shares of Micron Technology during the 3rd quarter worth approximately $26,000. Hobbs Group Advisors LLC acquired a new position in shares of Micron Technology in the second quarter worth $28,000. Davis Capital Management purchased a new stake in shares of Micron Technology in the third quarter valued at $30,000. Richard W. Paul & Associates LLC boosted its stake in shares of Micron Technology by 128.6% during the second quarter. Richard W. Paul & Associates LLC now owns 256 shares of the semiconductor manufacturer’s stock valued at $34,000 after acquiring an additional 144 shares during the last quarter. Finally, DT Investment Partners LLC increased its position in Micron Technology by 261.1% during the 3rd quarter. DT Investment Partners LLC now owns 325 shares of the semiconductor manufacturer’s stock worth $34,000 after purchasing an additional 235 shares in the last quarter. Institutional investors and hedge funds own 80.84% of the company’s stock.

Micron Technology Stock Up 4.1 %

MU stock opened at $102.43 on Friday. The firm has a fifty day moving average price of $102.23 and a two-hundred day moving average price of $112.35. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.64 and a quick ratio of 1.68. Micron Technology, Inc. has a 1-year low of $72.93 and a 1-year high of $157.54. The firm has a market cap of $113.57 billion, a price-to-earnings ratio of 150.63 and a beta of 1.18.

Micron Technology (NASDAQ:MU) last released its quarterly earnings data on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 earnings per share for the quarter, topping 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 firm had revenue of $7.75 billion for the quarter, compared to analyst estimates of $7.65 billion. During the same quarter in the prior year, the business earned ($1.21) earnings per share. Micron Technology’s quarterly revenue was up 93.3% on a year-over-year basis. Research analysts predict that Micron Technology, Inc. will post 8.31 EPS for the current year.

Micron Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 23rd. Investors of record on Monday, October 7th were given 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 yield of 0.45%. Micron Technology’s dividend payout ratio is currently 67.65%.

Analyst Ratings Changes

A number of research firms have issued reports on MU. Morgan Stanley upped their target price on shares of Micron Technology from $100.00 to $114.00 and gave the company an “equal weight” rating in a report on Thursday, September 26th. BNP Paribas cut 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 note on Thursday, September 12th. Susquehanna reduced their price target on Micron Technology from $175.00 to $165.00 and set a “positive” rating on the stock in a research note on Thursday, September 26th. Robert W. Baird lowered their price objective on Micron Technology from $172.00 to $150.00 and set an “outperform” rating for the company in a research report on Friday, September 27th. Finally, Rosenblatt Securities increased their target price on Micron Technology from $225.00 to $250.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. One equities research 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 company’s stock. Based on data from MarketBeat, Micron Technology presently has a consensus rating of “Moderate Buy” and a consensus price target of $143.04.

Insider Buying and Selling

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of the company’s stock in a transaction dated 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 owns 135,830 shares in the company, valued at approximately $15,348,790. This represents a 3.47 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.32% of the stock is 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.