Continuum Advisory LLC Has $1.76 Million Stock Holdings in Micron Technology, Inc. (NASDAQ:MU)

Continuum Advisory LLC boosted its holdings in Micron Technology, Inc. (NASDAQ:MU) by 280.1% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 17,695 shares of the semiconductor manufacturer’s stock after purchasing an additional 13,040 shares during the quarter. Continuum Advisory LLC’s holdings in Micron Technology were worth $1,755,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of MU. Highline Wealth Partners LLC acquired a new position in Micron Technology during the 3rd quarter worth approximately $26,000. Hobbs Group Advisors LLC bought a new stake in shares of Micron Technology during the second quarter valued at approximately $28,000. Davis Capital Management acquired a new position in shares of Micron Technology during the third quarter worth approximately $30,000. True Wealth Design LLC raised its position in shares of Micron Technology by 1,096.3% during the third quarter. True Wealth Design LLC now owns 323 shares of the semiconductor manufacturer’s stock worth $33,000 after purchasing an additional 296 shares during the period. Finally, Richard W. Paul & Associates LLC lifted its holdings in shares of 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 purchasing an additional 144 shares in the last quarter. 80.84% of the stock is currently owned by institutional investors.

Micron Technology Stock Up 0.3 %

MU opened at $101.17 on Monday. 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 business’s fifty day simple moving average is $103.66 and its 200 day simple moving average is $110.39. Micron Technology, Inc. has a 52 week low of $72.99 and a 52 week high of $157.54. The stock has a market cap of $112.71 billion, a PE ratio of 148.78 and a beta of 1.16.

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, topping the consensus estimate of $0.97 by $0.21. Micron Technology had a return on equity of 1.58% and a net margin of 3.10%. The business had revenue of $7.75 billion during the quarter, compared to analyst estimates of $7.65 billion. During the same quarter in the prior year, the firm earned ($1.21) earnings per share. Micron Technology’s revenue for the quarter was up 93.3% on a year-over-year basis. As a group, research analysts expect that Micron Technology, Inc. will post 8.31 earnings per share for the current fiscal year.

Micron Technology Announces Dividend

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

Analysts Set New Price Targets

Several research firms have weighed in on MU. Raymond James upped their price objective on shares of Micron Technology from $125.00 to $140.00 and gave the stock an “outperform” rating in a report on Thursday, September 26th. China Renaissance initiated coverage on shares of Micron Technology in a report on Monday, October 28th. They issued a “buy” rating and a $148.00 target price on the stock. BNP Paribas downgraded Micron Technology from an “outperform” rating to an “underperform” rating and cut their price target for the company from $140.00 to $67.00 in a research note on Thursday, September 12th. Bank of America increased their price objective on Micron Technology from $110.00 to $125.00 and gave the stock a “buy” rating in a research note on Thursday, September 26th. Finally, Robert W. Baird decreased their price target on Micron Technology from $172.00 to $150.00 and set an “outperform” rating for the company in a report on Friday, September 27th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-six have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $143.04.

Insider Activity

In other news, EVP April S. Arnzen sold 4,890 shares of the stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $113.00, for a total transaction of $552,570.00. Following the completion of the sale, the executive vice president now directly owns 135,830 shares in the company, valued at approximately $15,348,790. This represents a 3.47 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.30% of the stock is currently owned by corporate insiders.

Micron Technology 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.