Metis Global Partners LLC Acquires 346 Shares of Micron Technology, Inc. (NASDAQ:MU)

Metis Global Partners LLC grew its holdings in Micron Technology, Inc. (NASDAQ:MU) by 0.8% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 42,036 shares of the semiconductor manufacturer’s stock after buying an additional 346 shares during the quarter. Metis Global Partners LLC’s holdings in Micron Technology were worth $4,360,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Highline Wealth Partners LLC acquired a new stake in shares of Micron Technology in the 3rd quarter valued at $26,000. Hobbs Group Advisors LLC bought a new stake in Micron Technology during the 2nd quarter worth about $28,000. Davis Capital Management acquired a new position in Micron Technology during the 3rd quarter valued at about $30,000. Richard W. Paul & Associates LLC boosted its stake 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 valued at $34,000 after purchasing an additional 144 shares during the last quarter. Finally, DT Investment Partners LLC grew its position in shares of Micron Technology by 261.1% during the 3rd quarter. DT Investment Partners LLC now owns 325 shares of the semiconductor manufacturer’s stock worth $34,000 after buying an additional 235 shares during the period. Institutional investors and hedge funds own 80.84% of the company’s stock.

Micron Technology Price Performance

Shares of NASDAQ MU opened at $99.18 on Friday. 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 business has a 50-day moving average of $100.93 and a 200-day moving average of $112.94. The stock has a market capitalization of $109.96 billion, a price-to-earnings ratio of 145.86 and a beta of 1.18. Micron Technology, Inc. has a fifty-two week low of $72.93 and a fifty-two week high of $157.54.

Micron Technology (NASDAQ:MU) last posted its quarterly 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. Micron Technology had a return on equity of 1.58% and a net margin of 3.10%. The firm had revenue of $7.75 billion during the quarter, compared to the consensus estimate of $7.65 billion. During the same period last year, the company earned ($1.21) earnings per share. The business’s revenue was up 93.3% compared to the same quarter last year. As a group, sell-side analysts predict that Micron Technology, Inc. will post 8.31 earnings per share for the current fiscal year.

Micron Technology Announces Dividend

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

Analysts Set New Price Targets

A number of brokerages have issued reports on MU. China Renaissance initiated coverage on shares of Micron Technology in a research note on Monday, October 28th. They issued a “buy” rating and a $148.00 price objective on the stock. UBS Group decreased their price objective on Micron Technology from $153.00 to $135.00 and set a “buy” rating for the company in a research note on Tuesday, September 17th. Wedbush reissued an “outperform” rating and issued a $140.00 target price on shares of Micron Technology in a research note on Thursday, September 26th. Needham & Company LLC restated a “buy” rating and set a $140.00 target price on shares of Micron Technology in a research report on Thursday, September 26th. Finally, Bank of America increased their price target on shares of Micron Technology from $110.00 to $125.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-six have assigned a buy rating to the company. Based on data from MarketBeat, Micron Technology has an average rating of “Moderate Buy” and a consensus price target of $143.04.

Insider Activity

In related news, EVP April S. Arnzen sold 4,890 shares of the stock in a transaction 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 sale, the executive vice president now owns 135,830 shares in the company, valued at approximately $15,348,790. This represents a 3.47 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.32% of the company’s stock.

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.