Blackston Financial Advisory Group LLC Acquires Shares of 1,992 Micron Technology, Inc. (NASDAQ:MU)

Blackston Financial Advisory Group LLC bought a new stake in shares of Micron Technology, Inc. (NASDAQ:MU) during the third quarter, HoldingsChannel.com reports. The fund bought 1,992 shares of the semiconductor manufacturer’s stock, valued at approximately $207,000.

Other hedge funds have also recently modified their holdings of the company. DecisionPoint Financial LLC purchased a new position in Micron Technology in the 1st quarter worth $25,000. Hobbs Group Advisors LLC acquired a new stake in Micron Technology during the 2nd quarter worth about $28,000. Valued Wealth Advisors LLC grew its position in Micron Technology by 230.7% during the 1st quarter. Valued Wealth Advisors LLC now owns 248 shares of the semiconductor manufacturer’s stock worth $29,000 after purchasing an additional 173 shares during the period. Davis Capital Management acquired a new stake in shares of Micron Technology during the 3rd quarter valued at about $30,000. Finally, Richard W. Paul & Associates LLC boosted its holdings in Micron Technology by 128.6% in the 2nd quarter. Richard W. Paul & Associates LLC now owns 256 shares of the semiconductor manufacturer’s stock worth $34,000 after buying an additional 144 shares during the last quarter. Institutional investors own 80.84% of the company’s stock.

Insider Activity at Micron Technology

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of the stock in a transaction that occurred on Thursday, September 26th. The stock was sold at an average price of $113.00, for a total transaction of $552,570.00. Following the transaction, the executive vice president now directly owns 135,830 shares in the company, valued at approximately $15,348,790. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.32% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research firms have recently commented on MU. Rosenblatt Securities lifted their price target on shares of Micron Technology from $225.00 to $250.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. Robert W. Baird dropped their price target on shares of Micron Technology from $172.00 to $150.00 and set an “outperform” rating for the company in a research note on Friday, September 27th. UBS Group lowered their target price on shares of Micron Technology from $153.00 to $135.00 and set a “buy” rating for the company in a research note on Tuesday, September 17th. BNP Paribas cut shares of Micron Technology from an “outperform” rating to an “underperform” rating and reduced their price target for the company from $140.00 to $67.00 in a research report on Thursday, September 12th. Finally, Bank of America boosted their price target on shares of Micron Technology from $110.00 to $125.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and twenty-five have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $142.85.

Micron Technology Stock Up 1.0 %

Shares of NASDAQ:MU opened at $107.91 on Friday. The company’s 50-day moving average price is $99.23 and its two-hundred day moving average price is $114.05. Micron Technology, Inc. has a 12 month low of $63.88 and a 12 month high of $157.54. The firm has a market cap of $119.66 billion, a P/E ratio of -75.99 and a beta of 1.18. 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 (NASDAQ:MU) last announced its earnings results on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 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 for the quarter, compared to the consensus estimate of $7.65 billion. During the same period last year, the company posted ($1.21) EPS. The business’s quarterly revenue was up 93.3% on a year-over-year basis. As a group, research analysts forecast that Micron Technology, Inc. will post 8.31 EPS for the current fiscal year.

Micron Technology Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 23rd. Stockholders of record on Monday, October 7th were given a $0.115 dividend. The ex-dividend date was Monday, October 7th. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.43%. Micron Technology’s payout ratio is presently -32.39%.

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.