Micron Technology, Inc. (NASDAQ:MU) Shares Purchased by Moran Wealth Management LLC

Moran Wealth Management LLC increased its holdings in Micron Technology, Inc. (NASDAQ:MU) by 14.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 13,011 shares of the semiconductor manufacturer’s stock after buying an additional 1,687 shares during the quarter. Moran Wealth Management LLC’s holdings in Micron Technology were worth $1,349,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the business. Moors & Cabot Inc. lifted its holdings in shares of Micron Technology by 26.6% in the 3rd quarter. Moors & Cabot Inc. now owns 13,797 shares of the semiconductor manufacturer’s stock valued at $1,431,000 after buying an additional 2,902 shares during the period. Darwin Wealth Management LLC purchased a new position in Micron Technology during the third quarter valued at approximately $39,000. EULAV Asset Management lifted its holdings in Micron Technology by 56.3% in the third quarter. EULAV Asset Management now owns 50,000 shares of the semiconductor manufacturer’s stock valued at $5,186,000 after acquiring an additional 18,000 shares during the period. Howe & Rusling Inc. boosted its position in Micron Technology by 0.8% in the 3rd quarter. Howe & Rusling Inc. now owns 103,968 shares of the semiconductor manufacturer’s stock worth $10,782,000 after purchasing an additional 816 shares in the last quarter. Finally, Jennison Associates LLC acquired a new stake in shares of Micron Technology during the 3rd quarter worth approximately $1,114,000. 80.84% of the stock is owned by hedge funds and other institutional investors.

Micron Technology Price Performance

Shares of MU opened at $102.43 on Friday. The firm has a 50-day simple moving average of $102.23 and a two-hundred day simple moving average of $112.35. 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 1-year low of $72.93 and a 1-year high of $157.54. The stock has a market cap of $113.57 billion, a PE ratio of 150.63 and a beta of 1.18.

Micron Technology (NASDAQ:MU) last issued its quarterly earnings data 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. The business had revenue of $7.75 billion during the quarter, compared to analysts’ expectations 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 period in the previous year, the firm posted ($1.21) earnings per share. As a group, analysts forecast 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. Shareholders of record on Monday, October 7th were given a $0.115 dividend. The ex-dividend date was Monday, October 7th. This represents a $0.46 annualized dividend and a yield of 0.45%. Micron Technology’s dividend payout ratio is presently 67.65%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. Needham & Company LLC reiterated a “buy” rating and issued a $140.00 target price on shares of Micron Technology in a research note on Thursday, September 26th. Wedbush reissued an “outperform” rating and set a $140.00 target price on shares of Micron Technology in a research note on Thursday, September 26th. Morgan Stanley raised their target price on Micron Technology from $100.00 to $114.00 and gave the company an “equal weight” rating in a research report on Thursday, September 26th. Stifel Nicolaus lowered their price target on Micron Technology from $165.00 to $135.00 and set a “buy” rating on the stock in a research report on Thursday, September 19th. Finally, Citigroup dropped their price objective on Micron Technology from $175.00 to $150.00 and set a “buy” rating on the stock in a report on Tuesday, September 17th. 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 MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $143.04.

Insider Transactions at Micron Technology

In other news, EVP April S. Arnzen sold 4,890 shares of Micron Technology stock in a transaction dated Thursday, September 26th. The stock was 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 in the company, valued at approximately $15,348,790. This trade represents a 3.47 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed 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.