Capital Performance Advisors LLP Takes $94,000 Position in Micron Technology, Inc. (NASDAQ:MU)

Capital Performance Advisors LLP bought a new position in shares of Micron Technology, Inc. (NASDAQ:MU) during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 907 shares of the semiconductor manufacturer’s stock, valued at approximately $94,000.

A number of other large investors have also bought and sold shares of MU. Highline Wealth Partners LLC bought a new position in shares of Micron Technology in the 3rd quarter worth $26,000. Hobbs Group Advisors LLC acquired a new position in Micron Technology during the second quarter worth $28,000. Davis Capital Management bought a new position in shares of Micron Technology in the third quarter valued at $30,000. Richard W. Paul & Associates LLC grew its holdings 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 valued at $34,000 after buying an additional 144 shares during the last quarter. Finally, DT Investment Partners LLC increased its position in shares of Micron Technology by 261.1% during the third quarter. DT Investment Partners LLC now owns 325 shares of the semiconductor manufacturer’s stock worth $34,000 after acquiring an additional 235 shares in the last quarter. 80.84% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Rosenblatt Securities lifted their price target on Micron Technology from $225.00 to $250.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. KeyCorp cut their target price on Micron Technology from $145.00 to $135.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 8th. Morgan Stanley increased their price target on Micron Technology from $100.00 to $114.00 and gave the company an “equal weight” rating in a research report on Thursday, September 26th. Wells Fargo & Company cut their price objective on shares of Micron Technology from $190.00 to $175.00 and set an “overweight” rating on the stock in a report on Wednesday, September 18th. Finally, Raymond James increased their target price on shares of Micron Technology from $125.00 to $140.00 and gave the company an “outperform” rating in a report on Thursday, September 26th. 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, the company has an average rating of “Moderate Buy” and a consensus target price of $143.04.

Insiders Place Their Bets

In related news, EVP April S. Arnzen sold 4,890 shares of the company’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 sale, the executive vice president now owns 135,830 shares of the company’s stock, valued at approximately $15,348,790. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.32% of the stock is owned by corporate insiders.

Micron Technology Price Performance

MU opened at $111.90 on Friday. The firm has a 50-day moving average price of $100.16 and a 200-day moving average price of $113.12. Micron Technology, Inc. has a twelve month low of $72.93 and a twelve month high of $157.54. The company has a quick ratio of 1.68, a current ratio of 2.64 and a debt-to-equity ratio of 0.29. The company has a market capitalization of $124.07 billion, a price-to-earnings ratio of 164.56 and a beta of 1.18.

Micron Technology (NASDAQ:MU) last issued its earnings results on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.97 by $0.21. Micron Technology had a net margin of 3.10% and a return on equity of 1.58%. The business had revenue of $7.75 billion for the quarter, compared to analysts’ expectations of $7.65 billion. During the same quarter in the previous year, the firm posted ($1.21) EPS. The business’s revenue for the quarter was up 93.3% compared to the same quarter last year. Equities analysts expect that Micron Technology, Inc. will post 8.31 EPS for the current year.

Micron Technology Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 23rd. Shareholders of record on Monday, October 7th were paid a $0.115 dividend. The ex-dividend date was Monday, October 7th. This represents a $0.46 annualized dividend and a yield of 0.41%. Micron Technology’s dividend payout ratio is currently 67.65%.

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.