3,259 Shares in Micron Technology, Inc. (NASDAQ:MU) Bought by Kestra Investment Management LLC

Kestra Investment Management LLC purchased a new stake in Micron Technology, Inc. (NASDAQ:MU) during the 3rd quarter, HoldingsChannel.com reports. The institutional investor purchased 3,259 shares of the semiconductor manufacturer’s stock, valued at approximately $338,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Aspect Partners LLC increased its holdings in shares of Micron Technology by 39.8% during the 2nd quarter. Aspect Partners LLC now owns 330 shares of the semiconductor manufacturer’s stock valued at $43,000 after purchasing an additional 94 shares in the last quarter. Ameritas Advisory Services LLC increased 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 buying an additional 98 shares in the last quarter. Stonebrook Private Inc. raised its position in shares of Micron Technology by 4.2% in the third quarter. Stonebrook Private Inc. now owns 2,454 shares of the semiconductor manufacturer’s stock worth $255,000 after acquiring an additional 98 shares during the period. LRI Investments LLC boosted its stake in shares of Micron Technology by 57.2% during the 2nd quarter. LRI Investments LLC now owns 272 shares of the semiconductor manufacturer’s stock worth $36,000 after acquiring an additional 99 shares in the last quarter. Finally, E&G Advisors LP grew its position in shares of Micron Technology by 5.2% during the 2nd quarter. E&G Advisors LP now owns 2,015 shares of the semiconductor manufacturer’s stock valued at $265,000 after acquiring an additional 100 shares during the period. 80.84% of the stock is owned by institutional investors and hedge funds.

Micron Technology Stock Performance

Shares of Micron Technology stock opened at $98.55 on Tuesday. The business has a 50-day moving average of $103.60 and a 200 day moving average of $111.32. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.64 and a quick ratio of 1.68. Micron Technology, Inc. has a 12 month low of $72.93 and a 12 month high of $157.54. The stock has a market capitalization of $109.79 billion, a price-to-earnings ratio of 144.93 and a beta of 1.18.

Micron Technology (NASDAQ:MU) last posted its quarterly earnings data on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 earnings per share for the quarter, topping analysts’ consensus estimates of $0.97 by $0.21. The business had revenue of $7.75 billion for the quarter, compared to analyst estimates of $7.65 billion. Micron Technology had a return on equity of 1.58% and a net margin of 3.10%. The company’s revenue was up 93.3% on a year-over-year basis. During the same quarter in the prior year, the company earned ($1.21) earnings per share. As a group, sell-side analysts forecast that Micron Technology, Inc. will post 8.31 earnings per share for the current year.

Micron Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 23rd. Stockholders of record on Monday, October 7th were paid a $0.115 dividend. This represents a $0.46 annualized dividend and a dividend yield of 0.47%. The ex-dividend date was Monday, October 7th. Micron Technology’s payout ratio is presently 67.65%.

Wall Street Analyst Weigh In

MU has been the subject of a number of recent analyst reports. Susquehanna cut their price objective on Micron Technology from $175.00 to $165.00 and set a “positive” rating for the company in a research report on Thursday, September 26th. Bank of America boosted their price target on shares of Micron Technology from $110.00 to $125.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. Morgan Stanley increased their price objective on shares of Micron Technology from $100.00 to $114.00 and gave the company an “equal weight” rating in a report on Thursday, September 26th. TD Cowen boosted their target price on shares of Micron Technology from $115.00 to $135.00 and gave the stock a “buy” rating in a research note on Thursday, September 26th. Finally, Wells Fargo & Company reduced their price target on shares of Micron Technology from $190.00 to $175.00 and set an “overweight” rating for the company in a research report on Wednesday, September 18th. One analyst has rated the stock with a sell rating, two have given a hold rating and twenty-six have given a buy rating to the company’s stock. According to data from MarketBeat.com, Micron Technology has a consensus rating of “Moderate Buy” and an average price target of $143.04.

Insider Transactions at Micron Technology

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