Howe & Rusling Inc. Grows Stock Holdings in Micron Technology, Inc. (NASDAQ:MU)

Howe & Rusling Inc. lifted its holdings in shares of Micron Technology, Inc. (NASDAQ:MU) by 0.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 103,968 shares of the semiconductor manufacturer’s stock after buying an additional 816 shares during the quarter. Howe & Rusling Inc.’s holdings in Micron Technology were worth $10,782,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Price T Rowe Associates Inc. MD grew its position in shares of Micron Technology by 22.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 18,243,633 shares of the semiconductor manufacturer’s stock worth $2,150,743,000 after buying an additional 3,315,988 shares in the last quarter. Van ECK Associates Corp boosted its stake in shares of Micron Technology by 30.6% during the third quarter. Van ECK Associates Corp now owns 10,564,198 shares of the semiconductor manufacturer’s stock worth $1,109,769,000 after buying an additional 2,477,985 shares during the period. Capital International Investors grew its stake in shares of Micron Technology by 15.1% in the 1st quarter. Capital International Investors now owns 18,303,506 shares of the semiconductor manufacturer’s stock valued at $2,157,800,000 after purchasing an additional 2,397,885 shares during the last quarter. Swedbank AB increased its stake in Micron Technology by 473.8% in the 2nd quarter. Swedbank AB now owns 2,649,180 shares of the semiconductor manufacturer’s stock valued at $348,447,000 after buying an additional 2,187,460 shares during the period. Finally, 1832 Asset Management L.P. increased its stake in shares of Micron Technology by 301,500.0% during the first quarter. 1832 Asset Management L.P. now owns 1,809,600 shares of the semiconductor manufacturer’s stock worth $213,334,000 after acquiring an additional 1,809,000 shares during the period. Hedge funds and other institutional investors own 80.84% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on MU. UBS Group reduced their price target on shares of Micron Technology from $153.00 to $135.00 and set a “buy” rating on the stock in a report on Tuesday, September 17th. Stifel Nicolaus cut their price target on shares of Micron Technology from $165.00 to $135.00 and set a “buy” rating on the stock in a report on Thursday, September 19th. Bank of America raised their target price on Micron Technology from $110.00 to $125.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. Citigroup decreased their price target on Micron Technology from $175.00 to $150.00 and set a “buy” rating for the company in a research note on Tuesday, September 17th. Finally, TD Cowen boosted their price target on shares of Micron Technology from $115.00 to $135.00 and gave the company a “buy” rating in a report on Thursday, September 26th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-six have assigned a buy rating to the company. According to MarketBeat.com, Micron Technology presently has an average rating of “Moderate Buy” and a consensus price target of $143.04.

Micron Technology Stock Up 0.2 %

Shares of MU stock opened at $97.73 on Wednesday. The firm has a market cap of $108.36 billion, a PE ratio of 143.72 and a beta of 1.18. The company has a quick ratio of 1.68, a current ratio of 2.64 and a debt-to-equity ratio of 0.29. Micron Technology, Inc. has a 12 month low of $72.93 and a 12 month high of $157.54. The stock has a 50 day moving average of $101.77 and a 200-day moving average of $112.52.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings data on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 EPS 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 for the quarter, compared to analyst estimates of $7.65 billion. During the same period last year, the company earned ($1.21) EPS. The business’s quarterly revenue was up 93.3% compared to the same quarter last year. On average, equities analysts predict that Micron Technology, Inc. will post 8.31 EPS for the current year.

Micron Technology Announces Dividend

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

Insider Buying and Selling at Micron Technology

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of the firm’s stock in a transaction that occurred on Thursday, September 26th. The shares were 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 in the company, valued at approximately $15,348,790. This trade represents a 3.47 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 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.