Denver PWM LLC Has $47,000 Stock Holdings in Micron Technology, Inc. (NASDAQ:MU)

Denver PWM LLC trimmed its position in Micron Technology, Inc. (NASDAQ:MU) by 63.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 455 shares of the semiconductor manufacturer’s stock after selling 774 shares during the quarter. Denver PWM LLC’s holdings in Micron Technology were worth $47,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Franklin Resources Inc. grew its position in shares of Micron Technology by 4.6% during the 3rd quarter. Franklin Resources Inc. now owns 7,283,124 shares of the semiconductor manufacturer’s stock worth $789,054,000 after buying an additional 321,955 shares during the period. Peapack Gladstone Financial Corp grew its holdings in shares of Micron Technology by 3.2% in the 3rd quarter. Peapack Gladstone Financial Corp now owns 13,102 shares of the semiconductor manufacturer’s stock valued at $1,359,000 after buying an additional 411 shares during the period. Synovus Financial Corp increased its position in shares of Micron Technology by 58.8% in the 3rd quarter. Synovus Financial Corp now owns 21,859 shares of the semiconductor manufacturer’s stock valued at $2,267,000 after buying an additional 8,095 shares in the last quarter. Tidal Investments LLC increased its position in shares of Micron Technology by 0.4% in the 3rd quarter. Tidal Investments LLC now owns 106,840 shares of the semiconductor manufacturer’s stock valued at $11,080,000 after buying an additional 420 shares in the last quarter. Finally, Blankinship & Foster LLC bought a new stake in shares of Micron Technology in the 3rd quarter valued at $19,949,000. 80.84% of the stock is owned by institutional investors.

Micron Technology Price Performance

Shares of MU opened at $98.24 on Friday. The firm has a market capitalization of $109.44 billion, a PE ratio of 144.47 and a beta of 1.16. 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 company’s 50-day moving average is $103.57 and its 200-day moving average is $109.87. Micron Technology, Inc. has a fifty-two week low of $78.03 and a fifty-two week high of $157.54.

Micron Technology (NASDAQ:MU) last issued its quarterly earnings data on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 earnings per share (EPS) 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 during the quarter, compared to the consensus estimate of $7.65 billion. During the same period last year, the business posted ($1.21) earnings per share. The business’s revenue for the quarter was up 93.3% compared to the same quarter last year. Equities 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. Investors of record on Monday, October 7th were given a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a yield of 0.47%. The ex-dividend date of this dividend was Monday, October 7th. Micron Technology’s dividend payout ratio is 67.65%.

Insiders Place Their Bets

In related news, EVP April S. Arnzen sold 4,890 shares of the firm’s stock in a transaction on Thursday, September 26th. The stock was sold at an average price of $113.00, for a total value of $552,570.00. Following the transaction, the executive vice president now 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 document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.30% of the company’s stock.

Wall Street Analysts Forecast Growth

MU has been the subject of several recent analyst reports. Susquehanna lowered their price target on Micron Technology from $175.00 to $165.00 and set a “positive” rating for the company in a report on Thursday, September 26th. Cantor Fitzgerald reiterated an “overweight” rating and set a $150.00 target price on shares of Micron Technology in a report on Tuesday, October 1st. KeyCorp cut their price target on Micron Technology from $145.00 to $135.00 and set an “overweight” rating on the stock in a report on Tuesday, October 8th. Raymond James raised their price target on shares of Micron Technology from $125.00 to $140.00 and gave the stock an “outperform” rating in a research note on Thursday, September 26th. Finally, BNP Paribas lowered shares of Micron Technology from an “outperform” rating to an “underperform” rating and cut their price objective 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 issued a hold rating and twenty-six have issued a buy rating to the company. Based on data from MarketBeat, the company 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.