Gordian Capital Singapore Pte Ltd Boosts Stake in Micron Technology, Inc. (NASDAQ:MU)

Gordian Capital Singapore Pte Ltd boosted its stake in shares of Micron Technology, Inc. (NASDAQ:MU) by 393.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,451 shares of the semiconductor manufacturer’s stock after buying an additional 2,751 shares during the period. Gordian Capital Singapore Pte Ltd’s holdings in Micron Technology were worth $358,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. RFG Advisory LLC acquired a new position in shares of Micron Technology during the second quarter worth $301,000. Occidental Asset Management LLC increased its position in shares of Micron Technology by 11.7% during the second quarter. Occidental Asset Management LLC now owns 2,391 shares of the semiconductor manufacturer’s stock worth $314,000 after purchasing an additional 251 shares in the last quarter. Alpha Cubed Investments LLC increased its position in shares of Micron Technology by 8.0% during the second quarter. Alpha Cubed Investments LLC now owns 2,659 shares of the semiconductor manufacturer’s stock worth $350,000 after purchasing an additional 197 shares in the last quarter. Sequoia Financial Advisors LLC increased its position in shares of Micron Technology by 15.7% during the second quarter. Sequoia Financial Advisors LLC now owns 35,039 shares of the semiconductor manufacturer’s stock worth $4,609,000 after purchasing an additional 4,758 shares in the last quarter. Finally, Insight Advisors LLC PA increased its position in shares of Micron Technology by 18.1% in the 2nd quarter. Insight Advisors LLC PA now owns 2,119 shares of the semiconductor manufacturer’s stock valued at $279,000 after acquiring an additional 324 shares during the period. Hedge funds and other institutional investors own 80.84% of the company’s stock.

Insider Transactions at Micron Technology

In other news, EVP April S. Arnzen sold 4,890 shares of Micron Technology stock in a transaction 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 completion of the sale, the executive vice president now directly owns 135,830 shares of the company’s stock, valued at approximately $15,348,790. The trade was a 3.47 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.30% of the company’s stock.

Micron Technology Stock Up 0.3 %

Shares of NASDAQ MU opened at $101.17 on Monday. Micron Technology, Inc. has a 1 year low of $72.99 and a 1 year high of $157.54. 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 has a 50 day simple moving average of $103.66 and a 200-day simple moving average of $110.39. The company has a market capitalization of $112.71 billion, a P/E ratio of 148.78 and a beta of 1.16.

Micron Technology (NASDAQ:MU) last posted its earnings results on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 earnings per share for the quarter, beating 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 quarter last year, the firm earned ($1.21) EPS. The firm’s revenue for the quarter was up 93.3% on a year-over-year basis. On average, equities research analysts predict that Micron Technology, Inc. will post 8.31 earnings per share for the current year.

Micron Technology Dividend Announcement

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

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on MU shares. Bank of America upped their target price on Micron Technology from $110.00 to $125.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. Stifel Nicolaus lowered their price target on shares of Micron Technology from $165.00 to $135.00 and set a “buy” rating on the stock in a report on Thursday, September 19th. KeyCorp lowered their price target on shares of Micron Technology from $145.00 to $135.00 and set an “overweight” rating on the stock in a report on Tuesday, October 8th. Robert W. Baird lowered their price target on shares of Micron Technology from $172.00 to $150.00 and set an “outperform” rating on the stock in a report on Friday, September 27th. Finally, Citigroup lowered their price target 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. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-six have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $143.04.

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.