Onyx Bridge Wealth Group LLC Has $310,000 Stock Position in Micron Technology, Inc. (NASDAQ:MU)

Onyx Bridge Wealth Group LLC cut its stake in shares of Micron Technology, Inc. (NASDAQ:MU) by 23.0% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,988 shares of the semiconductor manufacturer’s stock after selling 892 shares during the period. Onyx Bridge Wealth Group LLC’s holdings in Micron Technology were worth $310,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of MU. DecisionPoint Financial LLC bought a new stake in shares of Micron Technology in the 1st quarter valued at about $25,000. Hobbs Group Advisors LLC acquired a new stake in shares of Micron Technology in the second quarter valued at approximately $28,000. Valued Wealth Advisors LLC boosted its stake in shares of 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 acquiring an additional 173 shares during the period. Davis Capital Management acquired a new position in shares of Micron Technology during the 3rd quarter worth approximately $30,000. Finally, Richard W. Paul & Associates LLC raised its stake 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 valued at $34,000 after acquiring an additional 144 shares during the period. 80.84% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

MU has been the subject of a number of research analyst reports. Robert W. Baird reduced their price objective on shares of Micron Technology from $172.00 to $150.00 and set an “outperform” rating for the company in a research report on Friday, September 27th. 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. BNP Paribas cut shares of Micron Technology from an “outperform” rating to an “underperform” rating and lowered their price target for the company from $140.00 to $67.00 in a report on Thursday, September 12th. Wedbush restated an “outperform” rating and set a $140.00 price objective on shares of Micron Technology in a report on Thursday, September 26th. Finally, Stifel Nicolaus decreased 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. 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. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $142.85.

Insider Activity

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 value of $552,570.00. Following the completion of the transaction, the executive vice president now owns 135,830 shares in the company, valued at $15,348,790. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.32% of the company’s stock.

Micron Technology Stock Down 0.8 %

MU stock opened at $111.15 on Friday. The stock has a market capitalization of $123.25 billion, a P/E ratio of -78.27 and a beta of 1.18. The company has a current ratio of 2.64, a quick ratio of 1.68 and a debt-to-equity ratio of 0.29. The firm has a 50-day moving average price of $98.64 and a 200-day moving average price of $114.54. Micron Technology, Inc. has a 12 month low of $63.88 and a 12 month high of $157.54.

Micron Technology (NASDAQ:MU) last issued its quarterly earnings data on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 EPS for the quarter, beating the consensus estimate of $0.97 by $0.21. The business had revenue of $7.75 billion during the quarter, compared to the consensus estimate of $7.65 billion. Micron Technology had a net margin of 3.10% and a return on equity of 1.58%. The firm’s revenue was up 93.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($1.21) EPS. As a group, equities research analysts anticipate that Micron Technology, Inc. will post 8.31 EPS for the current fiscal year.

Micron Technology Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 23rd. Shareholders of record on Monday, October 7th will be given a $0.115 dividend. The ex-dividend date is Monday, October 7th. This represents a $0.46 annualized dividend and a yield of 0.41%. Micron Technology’s dividend payout ratio is presently -32.39%.

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.