Hardy Reed LLC Purchases Shares of 8,133 Micron Technology, Inc. (NASDAQ:MU)

Hardy Reed LLC purchased a new position in shares of Micron Technology, Inc. (NASDAQ:MU) during the third quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 8,133 shares of the semiconductor manufacturer’s stock, valued at approximately $843,000.

A number of other large investors also recently modified their holdings of the company. Hobbs Group Advisors LLC purchased a new stake in Micron Technology in the 2nd quarter valued at about $28,000. Highline Wealth Partners LLC bought a new position in shares of Micron Technology during the 3rd quarter worth $26,000. 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 acquiring an additional 144 shares during the last quarter. LRI Investments LLC lifted its holdings in Micron Technology by 57.2% during 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 last quarter. Finally, Davis Capital Management bought a new position in Micron Technology during the third quarter worth about $30,000. 80.84% of the stock is currently owned by institutional investors.

Insider Activity

In related news, EVP April S. Arnzen sold 4,890 shares of the company’s 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 transaction, the executive vice president now owns 135,830 shares in the company, valued at $15,348,790. The trade was a 3.47 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.32% of the company’s stock.

Micron Technology Stock Down 2.6 %

Shares of Micron Technology stock opened at $101.80 on Wednesday. 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 $72.93 and a 12-month high of $157.54. The company has a market cap of $112.87 billion, a P/E ratio of 149.71 and a beta of 1.18. The company’s fifty day simple moving average is $103.07 and its two-hundred day simple moving average is $111.90.

Micron Technology (NASDAQ:MU) last posted its quarterly earnings data on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 earnings per share for the quarter, beating the consensus estimate of $0.97 by $0.21. Micron Technology had a return on equity of 1.58% and a net margin of 3.10%. The business 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 posted ($1.21) EPS. The business’s revenue was up 93.3% on a year-over-year basis. Research analysts anticipate that Micron Technology, Inc. will post 8.31 EPS for the current year.

Micron Technology Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 23rd. Shareholders of record on Monday, October 7th were paid a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.45%. The ex-dividend date of this dividend was Monday, October 7th. Micron Technology’s dividend payout ratio is 67.65%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Bank of America increased their price objective on Micron Technology from $110.00 to $125.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. Susquehanna cut their price objective on shares of Micron Technology from $175.00 to $165.00 and set a “positive” rating for the company in a research report on Thursday, September 26th. BNP Paribas lowered shares of Micron Technology from an “outperform” rating to an “underperform” rating and decreased their target price for the stock from $140.00 to $67.00 in a report on Thursday, September 12th. KeyCorp cut their price target on shares of Micron Technology from $145.00 to $135.00 and set an “overweight” rating for the company in a report on Tuesday, October 8th. Finally, TD Cowen increased their price objective on Micron Technology from $115.00 to $135.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-six have given a buy rating to the company. According to data from MarketBeat.com, Micron Technology has a consensus rating of “Moderate Buy” and a consensus target price of $143.04.

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.