Global Assets Advisory LLC Has $309,000 Position in Micron Technology, Inc. (NASDAQ:MU)

Global Assets Advisory LLC boosted its position in shares of Micron Technology, Inc. (NASDAQ:MU) by 79.3% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,084 shares of the semiconductor manufacturer’s stock after purchasing an additional 1,364 shares during the quarter. Global Assets Advisory LLC’s holdings in Micron Technology were worth $309,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of MU. Sound Income Strategies LLC lifted its stake in Micron Technology by 40.3% in the first quarter. Sound Income Strategies LLC now owns 1,358 shares of the semiconductor manufacturer’s stock valued at $160,000 after buying an additional 390 shares in the last quarter. Wealthcare Advisory Partners LLC lifted its stake in Micron Technology by 8.0% in the first quarter. Wealthcare Advisory Partners LLC now owns 11,053 shares of the semiconductor manufacturer’s stock valued at $1,303,000 after buying an additional 815 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in Micron Technology by 13.6% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 76,479 shares of the semiconductor manufacturer’s stock valued at $9,016,000 after buying an additional 9,179 shares in the last quarter. Vanguard Capital Wealth Advisors bought a new position in Micron Technology in the first quarter valued at approximately $2,499,000. Finally, Fifth Third Wealth Advisors LLC lifted its stake in Micron Technology by 29.2% in the first quarter. Fifth Third Wealth Advisors LLC now owns 9,752 shares of the semiconductor manufacturer’s stock valued at $1,150,000 after buying an additional 2,202 shares in the last quarter. Institutional investors and hedge funds own 80.84% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on MU shares. Susquehanna cut their price target on shares of Micron Technology from $175.00 to $165.00 and set a “positive” rating on the stock in a research note on Thursday, September 26th. BNP Paribas lowered shares of Micron Technology from an “outperform” rating to an “underperform” rating and cut their price objective for the stock from $140.00 to $67.00 in a research report on Thursday, September 12th. Morgan Stanley boosted their price objective on shares of Micron Technology from $100.00 to $114.00 and gave the stock an “equal weight” rating in a research report on Thursday, September 26th. Raymond James boosted their price objective on shares of Micron Technology from $125.00 to $140.00 and gave the stock an “outperform” rating in a research report on Thursday, September 26th. Finally, 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. One analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-five have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $142.85.

Insider Transactions at Micron Technology

In other news, EVP April S. Arnzen sold 4,890 shares of the stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $113.00, for a total value 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. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.32% of the company’s stock.

Micron Technology Trading Down 2.6 %

MU stock opened at $105.05 on Thursday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.68 and a current ratio of 2.64. The company’s 50-day simple moving average is $99.23 and its 200 day simple moving average is $114.10. Micron Technology, Inc. has a 52 week low of $63.88 and a 52 week high of $157.54. The company has a market capitalization of $116.48 billion, a PE ratio of -73.98 and a beta of 1.18.

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

Micron Technology Announces Dividend

The business 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 of this dividend was Monday, October 7th. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.44%. Micron Technology’s dividend payout ratio (DPR) is currently -32.39%.

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.