Richard W. Paul & Associates LLC Boosts Stake in Micron Technology, Inc. (NASDAQ:MU)

Richard W. Paul & Associates LLC boosted its holdings in shares of Micron Technology, Inc. (NASDAQ:MU) by 4,028.5% in the 3rd quarter, Holdings Channel reports. The fund owned 10,569 shares of the semiconductor manufacturer’s stock after acquiring an additional 10,313 shares during the quarter. Richard W. Paul & Associates LLC’s holdings in Micron Technology were worth $1,096,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. DecisionPoint Financial LLC purchased a new position in shares of Micron Technology during the 1st quarter worth $25,000. Hobbs Group Advisors LLC purchased a new position in Micron Technology during the second quarter worth about $28,000. Valued Wealth Advisors LLC boosted its holdings in Micron Technology by 230.7% in the 1st 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 last quarter. Davis Capital Management purchased a new stake in shares of Micron Technology in the 3rd quarter valued at approximately $30,000. Finally, LRI Investments LLC increased its holdings in shares of Micron Technology by 57.2% during the 2nd quarter. LRI Investments LLC now owns 272 shares of the semiconductor manufacturer’s stock worth $36,000 after buying an additional 99 shares during the last quarter. Institutional investors and hedge funds own 80.84% of the company’s stock.

Insider Transactions at Micron Technology

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of the company’s stock in a transaction on Thursday, September 26th. The shares were 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 $15,348,790. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 0.32% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on MU shares. Wedbush reiterated an “outperform” rating and issued a $140.00 price objective on shares of Micron Technology in a research report on Thursday, September 26th. Cantor Fitzgerald restated an “overweight” rating and issued a $150.00 price objective on shares of Micron Technology in a report on Tuesday, October 1st. BNP Paribas lowered shares of Micron Technology from an “outperform” rating to an “underperform” rating and decreased their price objective for the stock from $140.00 to $67.00 in a report on Thursday, September 12th. Citigroup dropped their target price on shares of Micron Technology from $175.00 to $150.00 and set a “buy” rating for the company in a report on Tuesday, September 17th. Finally, Needham & Company LLC restated a “buy” rating and set a $140.00 price target on shares of Micron Technology in a research note on Thursday, September 26th. 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 presently has a consensus rating of “Moderate Buy” and an average target price of $142.85.

Micron Technology Price Performance

Shares of MU opened at $111.15 on Friday. The firm has a market capitalization of $123.25 billion, a price-to-earnings ratio of -78.27 and a beta of 1.18. The firm’s fifty day simple moving average is $98.64 and its 200-day simple moving average is $114.54. Micron Technology, Inc. has a twelve month low of $63.88 and a twelve 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.

Micron Technology (NASDAQ:MU) last posted its quarterly earnings results 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. 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 last year, the firm earned ($1.21) earnings per share. Micron Technology’s quarterly revenue was up 93.3% on a year-over-year basis. Equities analysts forecast that Micron Technology, Inc. will post 8.31 EPS for the current fiscal year.

Micron Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 23rd. Shareholders of record on Monday, October 7th will be issued a dividend of $0.115 per share. The ex-dividend date of this dividend is Monday, October 7th. This represents a $0.46 dividend on an annualized basis and a yield of 0.41%. Micron Technology’s payout ratio is currently -32.39%.

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.