Independent Advisor Alliance Buys 5,180 Shares of Micron Technology, Inc. (NASDAQ:MU)

Independent Advisor Alliance raised its stake in Micron Technology, Inc. (NASDAQ:MU) by 9.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 57,413 shares of the semiconductor manufacturer’s stock after buying an additional 5,180 shares during the quarter. Independent Advisor Alliance’s holdings in Micron Technology were worth $5,954,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Hobbs Group Advisors LLC bought a new stake in shares of Micron Technology in the 2nd quarter valued at $28,000. Highline Wealth Partners LLC bought a new stake in shares of Micron Technology in the third quarter worth about $26,000. Richard W. Paul & Associates LLC raised its position 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 worth $34,000 after purchasing an additional 144 shares during the period. LRI Investments LLC lifted its holdings in shares of Micron Technology by 57.2% during the 2nd quarter. LRI Investments LLC now owns 272 shares of the semiconductor manufacturer’s stock valued at $36,000 after purchasing an additional 99 shares in the last quarter. Finally, Davis Capital Management bought a new position in shares of Micron Technology during the 3rd quarter valued at about $30,000. Institutional investors own 80.84% of the company’s stock.

Micron Technology Price Performance

Shares of MU opened at $102.64 on Monday. The firm has a market capitalization of $113.80 billion, a PE ratio of 150.94 and a beta of 1.18. 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 $102.46 and its 200-day moving average is $112.13. Micron Technology, Inc. has a fifty-two week low of $72.93 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 Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 23rd. Shareholders of record on Monday, October 7th were issued a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a yield of 0.45%. The ex-dividend date was Monday, October 7th. Micron Technology’s dividend payout ratio is 67.65%.

Insiders Place Their Bets

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of the business’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 sale, the executive vice president now owns 135,830 shares of the company’s stock, valued at $15,348,790. The trade was a 3.47 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.32% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on MU shares. BNP Paribas downgraded shares of Micron Technology from an “outperform” rating to an “underperform” rating and dropped their target price for the stock from $140.00 to $67.00 in a report on Thursday, September 12th. Bank of America raised their price objective on shares of Micron Technology from $110.00 to $125.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. Citigroup reduced their target price on shares of Micron Technology from $175.00 to $150.00 and set a “buy” rating for the company in a research note on Tuesday, September 17th. Wells Fargo & Company dropped their price target on Micron Technology from $190.00 to $175.00 and set an “overweight” rating on the stock in a research note on Wednesday, September 18th. Finally, Stifel Nicolaus reduced their price objective on Micron Technology from $165.00 to $135.00 and set a “buy” rating for the company in a research report on Thursday, September 19th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-six have given a buy rating to the company. According to data from MarketBeat.com, Micron Technology presently has an average rating of “Moderate Buy” and an average price target 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.