4,923 Shares in Micron Technology, Inc. (NASDAQ:MU) Purchased by Strategy Asset Managers LLC

Strategy Asset Managers LLC purchased a new stake in Micron Technology, Inc. (NASDAQ:MU) during the 3rd quarter, HoldingsChannel.com reports. The fund purchased 4,923 shares of the semiconductor manufacturer’s stock, valued at approximately $511,000.

A number of other hedge funds have also added to or reduced their stakes in MU. Thompson Davis & CO. Inc. grew its stake in shares of Micron Technology by 10.7% in the 3rd quarter. Thompson Davis & CO. Inc. now owns 3,210 shares of the semiconductor manufacturer’s stock worth $333,000 after acquiring an additional 310 shares in the last quarter. PNC Financial Services Group Inc. grew its position in Micron Technology by 5.8% in the 3rd quarter. PNC Financial Services Group Inc. now owns 409,125 shares of the semiconductor manufacturer’s stock worth $42,430,000 after purchasing an additional 22,327 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in shares of Micron Technology in the 3rd quarter worth approximately $4,247,000. Banque Cantonale Vaudoise boosted its holdings in shares of Micron Technology by 66.8% in the 3rd quarter. Banque Cantonale Vaudoise now owns 19,788 shares of the semiconductor manufacturer’s stock worth $2,051,000 after buying an additional 7,928 shares during the last quarter. Finally, W.G. Shaheen & Associates DBA Whitney & Co grew its position in Micron Technology by 59.2% during the third quarter. W.G. Shaheen & Associates DBA Whitney & Co now owns 74,177 shares of the semiconductor manufacturer’s stock valued at $7,693,000 after buying an additional 27,577 shares during the period. Institutional investors and hedge funds own 80.84% of the company’s stock.

Micron Technology Stock Performance

NASDAQ:MU opened at $98.37 on Thursday. 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 firm’s fifty day simple moving average is $101.93 and its 200 day simple moving average is $112.42. The stock has a market cap of $109.07 billion, a P/E ratio of 144.66 and a beta of 1.18. Micron Technology, Inc. has a twelve month low of $72.93 and a twelve month high of $157.54.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings results on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.97 by $0.21. The company had revenue of $7.75 billion for the quarter, compared to analysts’ expectations of $7.65 billion. Micron Technology had a net margin of 3.10% and a return on equity of 1.58%. Micron Technology’s quarterly revenue was up 93.3% on a year-over-year basis. During the same quarter in the previous year, the company earned ($1.21) earnings per share. As a group, research analysts predict that Micron Technology, Inc. will post 8.31 EPS for the current year.

Micron Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 23rd. Stockholders of record on Monday, October 7th were issued a dividend of $0.115 per share. The ex-dividend date of this dividend was Monday, October 7th. This represents a $0.46 annualized dividend and a dividend yield of 0.47%. Micron Technology’s payout ratio is 67.65%.

Insider Activity at Micron Technology

In other news, EVP April S. Arnzen sold 4,890 shares of the 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 in the company, valued at $15,348,790. This represents a 3.47 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.32% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages have weighed in on MU. Needham & Company LLC reissued a “buy” rating and set a $140.00 price objective on shares of Micron Technology in a report on Thursday, September 26th. Citigroup dropped their price objective on shares of Micron Technology from $175.00 to $150.00 and set a “buy” rating on the stock in a report on Tuesday, September 17th. 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. China Renaissance initiated coverage on Micron Technology in a research note on Monday, October 28th. They issued a “buy” rating and a $148.00 target price for the company. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $150.00 price target on shares of Micron Technology in a research report on Tuesday, October 1st. 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 stock. According to MarketBeat.com, the company currently has a consensus 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.