Strait & Sound Wealth Management LLC Acquires Shares of 3,822 Micron Technology, Inc. (NASDAQ:MU)

Strait & Sound Wealth Management LLC bought a new position in Micron Technology, Inc. (NASDAQ:MU) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 3,822 shares of the semiconductor manufacturer’s stock, valued at approximately $396,000.

Several other hedge funds and other institutional investors have also made changes to their positions in MU. RFG Advisory LLC purchased a new stake in shares of Micron Technology during the 2nd quarter worth $301,000. Diversified Trust Co grew its position in Micron Technology by 746.3% during the second quarter. Diversified Trust Co now owns 16,207 shares of the semiconductor manufacturer’s stock worth $2,132,000 after buying an additional 14,292 shares during the period. ORG Partners LLC increased its holdings in Micron Technology by 579.0% in the second quarter. ORG Partners LLC now owns 2,200 shares of the semiconductor manufacturer’s stock valued at $289,000 after buying an additional 1,876 shares in the last quarter. Cornerstone Wealth Management LLC lifted its position in shares of Micron Technology by 17.1% during the 2nd quarter. Cornerstone Wealth Management LLC now owns 3,883 shares of the semiconductor manufacturer’s stock valued at $511,000 after acquiring an additional 566 shares during the period. Finally, AdvisorNet Financial Inc increased its stake in Micron Technology by 49.9% in the 2nd quarter. AdvisorNet Financial Inc now owns 1,282 shares of the semiconductor manufacturer’s stock valued at $169,000 after purchasing an additional 427 shares in the last quarter. Hedge funds and other institutional investors own 80.84% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on MU. Wedbush restated an “outperform” rating and issued a $140.00 price target on shares of Micron Technology in a research report on Thursday, September 26th. KeyCorp dropped their target price on shares of Micron Technology from $145.00 to $135.00 and set an “overweight” rating for the company in a report on Tuesday, October 8th. Needham & Company LLC reaffirmed a “buy” rating and issued a $140.00 price target on shares of Micron Technology in a report on Thursday, September 26th. Raymond James lifted their price objective on Micron Technology from $125.00 to $140.00 and gave the stock an “outperform” rating in a research report on Thursday, September 26th. Finally, Wells Fargo & Company lowered their target price on Micron Technology from $190.00 to $175.00 and set an “overweight” rating on the stock in a report on Wednesday, September 18th. 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. According to data from MarketBeat, Micron Technology currently has an average rating of “Moderate Buy” and an average target price of $143.04.

Insider Activity at Micron Technology

In other news, EVP April S. Arnzen sold 4,890 shares of Micron Technology stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $113.00, for a total transaction of $552,570.00. Following the sale, 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.30% of the stock is owned by insiders.

Micron Technology Stock Performance

Shares of NASDAQ:MU opened at $102.82 on Tuesday. The firm has a market capitalization of $114.55 billion, a PE ratio of 151.21 and a beta of 1.16. Micron Technology, Inc. has a 12 month low of $76.96 and a 12 month high of $157.54. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.64 and a quick ratio of 1.68. The business has a 50-day moving average of $103.64 and a two-hundred day moving average of $110.23.

Micron Technology (NASDAQ:MU) last posted its quarterly earnings results on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 EPS 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 firm had revenue of $7.75 billion for the quarter, compared to analyst estimates of $7.65 billion. During the same quarter last year, the firm posted ($1.21) earnings per share. Micron Technology’s revenue for the quarter was up 93.3% compared to the same quarter last year. As a group, research analysts forecast that Micron Technology, Inc. will post 8.31 earnings per share for the current year.

Micron Technology Dividend Announcement

The firm also recently declared 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 (DPR) is 67.65%.

About Micron Technology

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.