Gordian Capital Singapore Pte Ltd Acquires Shares of 700 Micron Technology, Inc. (NASDAQ:MU)

Gordian Capital Singapore Pte Ltd acquired a new stake in shares of Micron Technology, Inc. (NASDAQ:MU) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 700 shares of the semiconductor manufacturer’s stock, valued at approximately $92,000.

A number of other large investors have also added to or reduced their stakes in MU. DecisionPoint Financial LLC purchased a new position in shares of Micron Technology in the first quarter worth $25,000. Hobbs Group Advisors LLC bought a new stake in shares of Micron Technology in the second quarter worth $28,000. Frank Rimerman Advisors LLC bought a new stake in shares of Micron Technology in the fourth quarter worth $29,000. Valued Wealth Advisors LLC grew its holdings in shares of Micron Technology by 230.7% in the first quarter. Valued Wealth Advisors LLC now owns 248 shares of the semiconductor manufacturer’s stock worth $29,000 after acquiring an additional 173 shares during the period. Finally, Richard W. Paul & Associates LLC grew its holdings in shares of Micron Technology by 128.6% in the second 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 period. Hedge funds and other institutional investors own 80.84% of the company’s stock.

Micron Technology Price Performance

NASDAQ:MU opened at $100.31 on Wednesday. The company has a current ratio of 3.41, a quick ratio of 2.16 and a debt-to-equity ratio of 0.29. The company has a market capitalization of $111.23 billion, a P/E ratio of -70.64, a P/E/G ratio of 0.20 and a beta of 1.17. Micron Technology, Inc. has a 12 month low of $63.88 and a 12 month high of $157.54. The business’s 50-day moving average is $97.12 and its 200 day moving average is $115.10.

Micron Technology (NASDAQ:MU) last posted its 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 negative return on equity of 4.01% and a negative net margin of 7.20%. The company had revenue of $7.75 billion for the quarter, compared to the consensus estimate of $7.65 billion. During the same period in the previous year, the business earned ($1.21) earnings per share. The firm’s revenue for the quarter was up 93.3% on a year-over-year basis. On average, equities research analysts forecast that Micron Technology, Inc. will post 0.61 earnings per share 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 given a dividend of $0.115 per share. The ex-dividend date is Monday, October 7th. This represents a $0.46 dividend on an annualized basis and a yield of 0.46%. Micron Technology’s dividend payout ratio (DPR) is presently -32.39%.

Insider Buying and Selling at Micron Technology

In other Micron Technology 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 in the company, valued at $15,348,790. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.32% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on MU shares. Stifel Nicolaus cut their price objective on Micron Technology from $165.00 to $135.00 and set a “buy” rating for the company in a report on Thursday, September 19th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $150.00 price objective on shares of Micron Technology in a report on Tuesday. Susquehanna cut their price objective on Micron Technology from $175.00 to $165.00 and set a “positive” rating for the company in a report on Thursday, September 26th. UBS Group cut their price target on Micron Technology from $153.00 to $135.00 and set a “buy” rating for the company in a report on Tuesday, September 17th. Finally, The Goldman Sachs Group boosted their price target on Micron Technology from $138.00 to $158.00 and gave the company a “buy” rating in a report on Thursday, June 27th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-five have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $143.23.

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.