Whitener Capital Management Inc. Increases Stock Position in Micron Technology, Inc. (NASDAQ:MU)

Whitener Capital Management Inc. raised its position in shares of Micron Technology, Inc. (NASDAQ:MU) by 5.1% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 3,480 shares of the semiconductor manufacturer’s stock after purchasing an additional 170 shares during the period. Whitener Capital Management Inc.’s holdings in Micron Technology were worth $361,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in MU. Highline Wealth Partners LLC bought a new position in shares of Micron Technology during the third quarter valued at $26,000. Hobbs Group Advisors LLC bought a new stake in Micron Technology in the 2nd quarter worth about $28,000. Davis Capital Management bought a new stake in Micron Technology in the 3rd quarter worth about $30,000. Richard W. Paul & Associates LLC increased its holdings in Micron Technology by 128.6% in the 2nd quarter. Richard W. Paul & Associates LLC now owns 256 shares of the semiconductor manufacturer’s stock worth $34,000 after buying an additional 144 shares in the last quarter. Finally, DT Investment Partners LLC increased its holdings in Micron Technology by 261.1% in the 3rd quarter. DT Investment Partners LLC now owns 325 shares of the semiconductor manufacturer’s stock worth $34,000 after buying an additional 235 shares in the last quarter. Hedge funds and other institutional investors own 80.84% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on MU shares. Morgan Stanley lifted their price objective on Micron Technology from $100.00 to $114.00 and gave the stock an “equal weight” rating in a report on Thursday, September 26th. Citigroup reduced their price objective on Micron Technology from $175.00 to $150.00 and set a “buy” rating for the company in a report on Tuesday, September 17th. TD Cowen lifted their price objective on Micron Technology from $115.00 to $135.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. BNP Paribas downgraded Micron Technology from an “outperform” rating to an “underperform” rating and cut their price target for the company from $140.00 to $67.00 in a research note on Thursday, September 12th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $150.00 price target on shares of Micron Technology in a research note on Tuesday, October 1st. One analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-six have given a buy rating to the stock. According to data from MarketBeat.com, the company presently 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 company’s stock in a transaction that occurred on 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 directly owns 135,830 shares of the company’s stock, valued at $15,348,790. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.32% of the company’s stock.

Micron Technology Stock Up 0.1 %

NASDAQ MU opened at $99.73 on Friday. The stock’s 50 day moving average is $98.94 and its 200 day moving average is $113.21. The company has a current ratio of 2.64, a quick ratio of 1.68 and a debt-to-equity ratio of 0.29. Micron Technology, Inc. has a 12 month low of $69.75 and a 12 month high of $157.54. The stock has a market cap of $110.57 billion, a PE ratio of 146.66 and a beta of 1.18.

Micron Technology (NASDAQ:MU) last posted its quarterly earnings results on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 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 company had revenue of $7.75 billion for the quarter, compared to analysts’ expectations of $7.65 billion. During the same period in the previous year, the firm earned ($1.21) EPS. The firm’s revenue was up 93.3% compared to the same quarter last year. Research analysts predict that Micron Technology, Inc. will post 8.31 EPS for the current fiscal year.

Micron Technology Dividend Announcement

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 dividend of $0.115 per share. The ex-dividend date was Monday, October 7th. This represents a $0.46 annualized dividend and a dividend yield of 0.46%. Micron Technology’s dividend payout ratio (DPR) is 67.65%.

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.