Beta Wealth Group Inc. Acquires 600 Shares of Micron Technology, Inc. (NASDAQ:MU)

Beta Wealth Group Inc. grew its stake in Micron Technology, Inc. (NASDAQ:MU) by 10.9% during the third quarter, HoldingsChannel.com reports. The firm owned 6,102 shares of the semiconductor manufacturer’s stock after buying an additional 600 shares during the period. Beta Wealth Group Inc.’s holdings in Micron Technology were worth $633,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Norden Group LLC lifted its holdings in shares of Micron Technology by 43.4% during the 1st quarter. Norden Group LLC now owns 3,564 shares of the semiconductor manufacturer’s stock valued at $420,000 after purchasing an additional 1,078 shares in the last quarter. Csenge Advisory Group bought a new position in Micron Technology in the first quarter valued at approximately $243,000. Envestnet Portfolio Solutions Inc. boosted its holdings in shares of Micron Technology by 4.1% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 60,458 shares of the semiconductor manufacturer’s stock valued at $7,127,000 after buying an additional 2,383 shares during the period. AIA Group Ltd increased its position in shares of Micron Technology by 2.1% during the first quarter. AIA Group Ltd now owns 4,821 shares of the semiconductor manufacturer’s stock worth $568,000 after acquiring an additional 101 shares in the last quarter. Finally, Empowered Funds LLC raised its holdings in shares of Micron Technology by 1.7% during the first quarter. Empowered Funds LLC now owns 39,598 shares of the semiconductor manufacturer’s stock worth $4,668,000 after acquiring an additional 656 shares during the period. 80.84% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms have issued reports on MU. Wedbush reiterated an “outperform” rating and set a $140.00 target price on shares of Micron Technology in a report on Thursday, September 26th. Stifel Nicolaus dropped their target price on Micron Technology from $165.00 to $135.00 and set a “buy” rating on the stock in a research report on Thursday, September 19th. Robert W. Baird lowered their price objective 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. UBS Group cut their price objective on shares of Micron Technology from $153.00 to $135.00 and set a “buy” rating on the stock in a research report on Tuesday, September 17th. Finally, Raymond James increased their price objective on shares of Micron Technology from $125.00 to $140.00 and gave the stock an “outperform” rating in a research note on Thursday, September 26th. One 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 stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $143.04.

Micron Technology Stock Down 1.3 %

NASDAQ MU opened at $111.90 on Friday. The company has a market cap of $124.07 billion, a price-to-earnings ratio of 164.56 and a beta of 1.18. Micron Technology, Inc. has a 1-year low of $72.93 and a 1-year high of $157.54. The company has a current ratio of 2.64, a quick ratio of 1.68 and a debt-to-equity ratio of 0.29. The company has a 50 day moving average of $100.16 and a 200-day moving average of $113.12.

Micron Technology (NASDAQ:MU) last issued its quarterly earnings results on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 EPS for the quarter, topping analysts’ consensus estimates 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 return on equity of 1.58% and a net margin of 3.10%. Micron Technology’s revenue was up 93.3% on a year-over-year basis. During the same quarter last year, the business earned ($1.21) earnings per share. On average, equities research analysts expect that Micron Technology, Inc. will post 8.31 earnings per share for the current fiscal year.

Micron Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 23rd. Shareholders of record on Monday, October 7th were given 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 yield of 0.41%. Micron Technology’s dividend payout ratio is currently 67.65%.

Insiders Place Their Bets

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of the business’s stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $113.00, for a total transaction of $552,570.00. Following the completion of the transaction, the executive vice president now owns 135,830 shares of the company’s stock, valued at approximately $15,348,790. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.32% of the company’s stock.

Micron Technology Company 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.