Blackston Financial Advisory Group LLC Invests $207,000 in Micron Technology, Inc. (NASDAQ:MU)

Blackston Financial Advisory Group LLC acquired a new stake in Micron Technology, Inc. (NASDAQ:MU) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 1,992 shares of the semiconductor manufacturer’s stock, valued at approximately $207,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Hobbs Group Advisors LLC purchased a new stake in shares of Micron Technology during the second quarter worth about $28,000. DecisionPoint Financial LLC purchased a new stake in Micron Technology in the first quarter valued at approximately $25,000. Valued Wealth Advisors LLC grew its holdings in Micron Technology by 230.7% in the first quarter. Valued Wealth Advisors LLC now owns 248 shares of the semiconductor manufacturer’s stock valued at $29,000 after purchasing an additional 173 shares during the period. Richard W. Paul & Associates LLC grew its holdings in Micron Technology by 128.6% in the second 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 period. Finally, LRI Investments LLC grew its holdings in Micron Technology by 57.2% in the second quarter. LRI Investments LLC now owns 272 shares of the semiconductor manufacturer’s stock valued at $36,000 after purchasing an additional 99 shares during the period. Institutional investors and hedge funds own 80.84% of the company’s stock.

Micron Technology Price Performance

MU opened at $107.91 on Friday. The stock has a 50-day moving average price of $99.23 and a 200-day moving average price of $114.05. Micron Technology, Inc. has a 12-month low of $63.88 and a 12-month 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 stock has a market capitalization of $119.66 billion, a P/E ratio of -75.99 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 (EPS) for the quarter, topping 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 analysts’ expectations of $7.65 billion. During the same period in the prior year, the business earned ($1.21) EPS. The company’s revenue for the quarter was up 93.3% compared to the same quarter last year. Equities 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 disclosed a quarterly dividend, which was paid on Wednesday, October 23rd. Stockholders of record on Monday, October 7th were issued a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.43%. The ex-dividend date of this dividend was Monday, October 7th. Micron Technology’s payout ratio is currently -32.39%.

Insider Transactions at Micron Technology

In related news, EVP April S. Arnzen sold 4,890 shares of the 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 sale, the executive vice president now directly owns 135,830 shares in the company, valued at $15,348,790. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.32% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on MU shares. Stifel Nicolaus lowered their target price on shares of Micron Technology from $165.00 to $135.00 and set a “buy” rating for the company in a report on Thursday, September 19th. TD Cowen lifted their price target on shares of Micron Technology from $115.00 to $135.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. Citigroup reduced their price target on shares of Micron Technology from $175.00 to $150.00 and set a “buy” rating on the stock in a research report on Tuesday, September 17th. Wedbush reaffirmed an “outperform” rating and set a $140.00 price target on shares of Micron Technology in a research report on Thursday, September 26th. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $150.00 target price on shares of Micron Technology in a research report on Tuesday, October 1st. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-five have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $142.85.

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.