Quantum Private Wealth LLC Buys New Stake in Micron Technology, Inc. (NASDAQ:MU)

Quantum Private Wealth LLC acquired 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 SEC. The firm acquired 2,606 shares of the semiconductor manufacturer’s stock, valued at approximately $270,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of MU. Atria Investments Inc lifted its stake in shares of Micron Technology by 0.3% in the first quarter. Atria Investments Inc now owns 27,749 shares of the semiconductor manufacturer’s stock valued at $3,269,000 after purchasing an additional 93 shares during the period. Aspect Partners LLC grew its holdings in Micron Technology by 39.8% in the second quarter. Aspect Partners LLC now owns 330 shares of the semiconductor manufacturer’s stock valued at $43,000 after purchasing an additional 94 shares during the period. Ameritas Advisory Services LLC grew its holdings in Micron Technology by 1.3% in the second quarter. Ameritas Advisory Services LLC now owns 7,625 shares of the semiconductor manufacturer’s stock valued at $1,003,000 after purchasing an additional 98 shares during the period. LRI Investments LLC lifted its position in Micron Technology by 57.2% during the second quarter. LRI Investments LLC now owns 272 shares of the semiconductor manufacturer’s stock valued at $36,000 after buying an additional 99 shares in the last quarter. Finally, E&G Advisors LP lifted its position in Micron Technology by 5.2% during the second quarter. E&G Advisors LP now owns 2,015 shares of the semiconductor manufacturer’s stock valued at $265,000 after buying an additional 100 shares in the last quarter. 80.84% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, EVP April S. Arnzen sold 4,890 shares of the stock in a transaction that occurred on Thursday, September 26th. The stock was sold at an average price of $113.00, for a total value of $552,570.00. Following the transaction, the executive vice president now owns 135,830 shares in the company, valued at approximately $15,348,790. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.32% of the stock is owned by corporate insiders.

Micron Technology Price Performance

MU stock opened at $112.51 on Friday. The company has a current ratio of 2.64, a quick ratio of 1.68 and a debt-to-equity ratio of 0.29. Micron Technology, Inc. has a one year low of $72.93 and a one year high of $157.54. The firm has a market capitalization of $124.74 billion, a PE ratio of 166.78 and a beta of 1.18. The firm has a 50-day moving average of $99.49 and a two-hundred day moving average of $113.09.

Micron Technology (NASDAQ:MU) last issued its earnings results on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 earnings per share for the quarter, beating analysts’ consensus estimates of $0.97 by $0.21. The company had revenue of $7.75 billion for the quarter, compared to the consensus estimate of $7.65 billion. Micron Technology had a return on equity of 1.58% and a net margin of 3.10%. The firm’s quarterly revenue was up 93.3% on a year-over-year basis. During the same quarter in the prior year, the company earned ($1.21) EPS. On average, analysts forecast that Micron Technology, Inc. will post 8.31 earnings per share 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 $0.115 dividend. The ex-dividend date was Monday, October 7th. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.41%. Micron Technology’s dividend payout ratio is 67.65%.

Analyst Ratings Changes

A number of research firms have recently commented on MU. Wedbush reissued an “outperform” rating and set a $140.00 target price on shares of Micron Technology in a research report on Thursday, September 26th. Robert W. Baird cut 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. Citigroup cut 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. BNP Paribas cut shares of 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 report on Thursday, September 12th. Finally, 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 report on Thursday, September 26th. One analyst has rated the stock with a sell rating, two have given a hold rating and twenty-six have issued a buy rating to the company’s stock. According to MarketBeat.com, Micron Technology presently has an average rating of “Moderate Buy” and a consensus target price 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.