Diversified Trust Co Boosts Holdings in Micron Technology, Inc. (NASDAQ:MU)

Diversified Trust Co raised its holdings in shares of Micron Technology, Inc. (NASDAQ:MU) by 37.0% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 22,202 shares of the semiconductor manufacturer’s stock after buying an additional 5,995 shares during the period. Diversified Trust Co’s holdings in Micron Technology were worth $2,303,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in MU. Hobbs Group Advisors LLC purchased a new position in shares of Micron Technology in the second quarter valued at about $28,000. DecisionPoint Financial LLC purchased a new position in shares of Micron Technology in the first quarter worth $25,000. Valued Wealth Advisors LLC grew its stake in Micron Technology by 230.7% during the first quarter. Valued Wealth Advisors LLC now owns 248 shares of the semiconductor manufacturer’s stock valued at $29,000 after acquiring an additional 173 shares in the last quarter. 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 valued at $34,000 after acquiring an additional 144 shares during the last quarter. Finally, LRI Investments LLC lifted its stake in Micron Technology by 57.2% in the 2nd quarter. LRI Investments LLC now owns 272 shares of the semiconductor manufacturer’s stock worth $36,000 after purchasing an additional 99 shares in the last quarter. 80.84% of the stock is currently owned by institutional investors.

Insider Activity

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of the business’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 completion of the transaction, the executive vice president now directly owns 135,830 shares in the company, valued at approximately $15,348,790. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 0.32% of the company’s stock.

Micron Technology Price Performance

MU opened at $102.91 on Tuesday. The company has a market capitalization of $114.11 billion, a price-to-earnings ratio of -72.47, a PEG ratio of 0.20 and a beta of 1.18. The company has a current ratio of 3.41, a quick ratio of 2.16 and a debt-to-equity ratio of 0.29. Micron Technology, Inc. has a 12-month low of $63.88 and a 12-month high of $157.54. The business’s fifty day simple moving average is $96.66 and its 200-day simple moving average is $115.24.

Micron Technology (NASDAQ:MU) last posted its earnings results on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 EPS for the quarter, beating analysts’ consensus estimates of $0.97 by $0.21. Micron Technology had a negative net margin of 7.20% and a negative return on equity of 4.01%. The business had revenue of $7.75 billion for the quarter, compared to the consensus estimate of $7.65 billion. During the same quarter last year, the firm posted ($1.21) EPS. The company’s revenue for the quarter was up 93.3% on a year-over-year basis. On average, equities research analysts anticipate that Micron Technology, Inc. will post 0.61 earnings per share for the current fiscal year.

Micron Technology Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 23rd. Stockholders of record on Monday, October 7th will be issued a $0.115 dividend. The ex-dividend date of this dividend is Monday, October 7th. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.45%. Micron Technology’s dividend payout ratio is presently -32.39%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. Piper Sandler lifted their target price on Micron Technology from $130.00 to $150.00 and gave the stock an “overweight” rating in a report on Thursday, June 27th. Robert W. Baird decreased their price objective on Micron Technology from $172.00 to $150.00 and set an “outperform” rating on the stock in a report on Friday, September 27th. UBS Group cut their target price on shares of Micron Technology from $153.00 to $135.00 and set a “buy” rating for the company in a report on Tuesday, September 17th. KeyCorp decreased their price target on shares of Micron Technology from $165.00 to $145.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 6th. Finally, Bank of America lifted their price objective on shares of Micron Technology from $110.00 to $125.00 and gave the stock a “buy” rating in a research note on Thursday, September 26th. One investment 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’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $143.23.

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.