TRUE Private Wealth Advisors Purchases 7,519 Shares of Micron Technology, Inc. (NASDAQ:MU)

TRUE Private Wealth Advisors lifted its position in shares of Micron Technology, Inc. (NASDAQ:MU) by 180.0% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 11,697 shares of the semiconductor manufacturer’s stock after purchasing an additional 7,519 shares during the period. TRUE Private Wealth Advisors’ holdings in Micron Technology were worth $1,213,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Channing Global Advisors LLC acquired a new position in Micron Technology in the third quarter valued at about $3,318,000. Icon Wealth Advisors LLC acquired a new position in shares of Micron Technology in the 3rd quarter valued at approximately $186,000. Vinva Investment Management Ltd lifted its holdings in shares of Micron Technology by 35.1% during the 3rd quarter. Vinva Investment Management Ltd now owns 50,193 shares of the semiconductor manufacturer’s stock worth $5,396,000 after acquiring an additional 13,034 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Micron Technology by 21.7% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 11,326,224 shares of the semiconductor manufacturer’s stock worth $1,174,643,000 after acquiring an additional 2,022,180 shares in the last quarter. Finally, Public Sector Pension Investment Board increased its stake in Micron Technology by 1,157.0% in the third quarter. Public Sector Pension Investment Board now owns 535,283 shares of the semiconductor manufacturer’s stock valued at $55,514,000 after acquiring an additional 492,700 shares during the last quarter. 80.84% of the stock is owned by institutional investors and hedge funds.

Micron Technology Trading Down 0.3 %

Shares of MU stock opened at $97.95 on Friday. The company has a market cap of $108.60 billion, a P/E ratio of 144.04 and a beta of 1.18. Micron Technology, Inc. has a fifty-two week low of $72.93 and a fifty-two week high of $157.54. The stock has a 50 day simple moving average of $103.60 and a two-hundred day simple moving average of $111.53. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.68 and a current ratio of 2.64.

Micron Technology (NASDAQ:MU) last released its earnings results on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.97 by $0.21. The company had revenue of $7.75 billion for the quarter, compared to the consensus estimate of $7.65 billion. Micron Technology had a net margin of 3.10% and a return on equity of 1.58%. Micron Technology’s quarterly revenue was up 93.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($1.21) EPS. Research analysts forecast that Micron Technology, Inc. will post 8.31 earnings per share for the current year.

Micron Technology Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on MU shares. Robert W. Baird reduced their target price on Micron Technology from $172.00 to $150.00 and set an “outperform” rating on the stock in a report on Friday, September 27th. Cantor Fitzgerald reiterated an “overweight” rating and set a $150.00 price objective on shares of Micron Technology in a research report on Tuesday, October 1st. Susquehanna decreased their target price on shares of Micron Technology from $175.00 to $165.00 and set a “positive” rating on the stock in a research note on Thursday, September 26th. BNP Paribas cut Micron Technology from an “outperform” rating to an “underperform” rating and dropped their price target for the company from $140.00 to $67.00 in a research note on Thursday, September 12th. Finally, Wells Fargo & Company reduced their price objective on Micron Technology from $190.00 to $175.00 and set an “overweight” rating on the stock in a research report on Wednesday, September 18th. One 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 currently has a consensus rating of “Moderate Buy” and an average target price of $143.04.

Insider Activity 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 transaction of $552,570.00. Following the transaction, the executive vice president now owns 135,830 shares in the company, valued at approximately $15,348,790. This represents a 3.47 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.32% of the stock is currently owned by corporate insiders.

Micron Technology 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.