MML Investors Services LLC Has $11.24 Million Position in Micron Technology, Inc. (NASDAQ:MU)

MML Investors Services LLC boosted its stake in shares of Micron Technology, Inc. (NASDAQ:MU) by 13.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 108,403 shares of the semiconductor manufacturer’s stock after acquiring an additional 12,493 shares during the quarter. MML Investors Services LLC’s holdings in Micron Technology were worth $11,243,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of MU. Highline Wealth Partners LLC bought a new stake in Micron Technology during the 3rd quarter worth about $26,000. Hobbs Group Advisors LLC acquired a new stake in shares of Micron Technology during the second quarter worth $28,000. Davis Capital Management bought a new stake in shares of Micron Technology in the third quarter worth $30,000. True Wealth Design LLC increased its position in shares of Micron Technology by 1,096.3% in the third quarter. True Wealth Design LLC now owns 323 shares of the semiconductor manufacturer’s stock valued at $33,000 after acquiring an additional 296 shares during the last quarter. Finally, Richard W. Paul & Associates LLC boosted its holdings in shares of Micron Technology by 128.6% in the 2nd quarter. Richard W. Paul & Associates LLC now owns 256 shares of the semiconductor manufacturer’s stock valued at $34,000 after buying an additional 144 shares during the last quarter. Institutional investors and hedge funds own 80.84% of the company’s stock.

Insider Activity at Micron Technology

In related news, EVP April S. Arnzen sold 4,890 shares of the firm’s 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 completion of the sale, the executive vice president now directly owns 135,830 shares in the company, valued at approximately $15,348,790. This trade represents a 3.47 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.30% of the company’s stock.

Micron Technology Stock Down 4.6 %

Shares of NASDAQ MU opened at $98.10 on Wednesday. The firm has a 50-day moving average price of $103.64 and a 200 day moving average price of $110.23. The stock has a market capitalization of $109.29 billion, a price-to-earnings ratio of 144.27 and a beta of 1.16. The company has a quick ratio of 1.68, a current ratio of 2.64 and a debt-to-equity ratio of 0.29. Micron Technology, Inc. has a 52 week low of $76.96 and a 52 week high of $157.54.

Micron Technology (NASDAQ:MU) last posted its quarterly earnings data on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 EPS for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $7.65 billion. During the same quarter last year, the business posted ($1.21) EPS. The firm’s quarterly revenue was up 93.3% compared to the same quarter last year. Equities research analysts anticipate that Micron Technology, Inc. will post 8.31 EPS for the current fiscal year.

Micron Technology Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 23rd. Investors of record on Monday, October 7th were issued a $0.115 dividend. This represents a $0.46 annualized dividend and a dividend yield of 0.47%. The ex-dividend date was Monday, October 7th. Micron Technology’s dividend payout ratio (DPR) is 67.65%.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on MU. Raymond James upped their price target on shares of Micron Technology from $125.00 to $140.00 and gave the company an “outperform” rating in a research note on Thursday, September 26th. Robert W. Baird dropped their target price 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. Morgan Stanley raised their price objective 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. Stifel Nicolaus cut their target price on Micron Technology from $165.00 to $135.00 and set a “buy” rating on the stock in a research report on Thursday, September 19th. Finally, BNP Paribas lowered shares of Micron Technology from an “outperform” rating to an “underperform” rating and lowered their price objective for the company from $140.00 to $67.00 in a research note on Thursday, September 12th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and twenty-six have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $143.04.

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.