B & T Capital Management DBA Alpha Capital Management Boosts Holdings in Micron Technology, Inc. (NASDAQ:MU)

B & T Capital Management DBA Alpha Capital Management raised its holdings in Micron Technology, Inc. (NASDAQ:MU) by 4.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,223 shares of the semiconductor manufacturer’s stock after purchasing an additional 126 shares during the period. B & T Capital Management DBA Alpha Capital Management’s holdings in Micron Technology were worth $334,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD raised its holdings in Micron Technology by 22.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 18,243,633 shares of the semiconductor manufacturer’s stock worth $2,150,743,000 after purchasing an additional 3,315,988 shares in the last quarter. Capital International Investors increased its stake in Micron Technology by 15.1% in the first quarter. Capital International Investors now owns 18,303,506 shares of the semiconductor manufacturer’s stock valued at $2,157,800,000 after purchasing an additional 2,397,885 shares during the last quarter. Swedbank AB increased its position in Micron Technology by 473.8% during the second quarter. Swedbank AB now owns 2,649,180 shares of the semiconductor manufacturer’s stock worth $348,447,000 after purchasing an additional 2,187,460 shares during the last quarter. 1832 Asset Management L.P. raised its holdings in shares of Micron Technology by 301,500.0% in the 1st quarter. 1832 Asset Management L.P. now owns 1,809,600 shares of the semiconductor manufacturer’s stock worth $213,334,000 after purchasing an additional 1,809,000 shares during the period. Finally, Van ECK Associates Corp boosted its position in Micron Technology by 28.9% during the 1st quarter. Van ECK Associates Corp now owns 7,566,572 shares of the semiconductor manufacturer’s stock worth $892,023,000 after purchasing an additional 1,695,876 shares during the period. 80.84% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have recently commented on MU. Piper Sandler boosted their price objective on Micron Technology from $130.00 to $150.00 and gave the stock an “overweight” rating in a research note on Thursday, June 27th. Stifel Nicolaus decreased their price objective on Micron Technology from $165.00 to $135.00 and set a “buy” rating for the company in a research report on Thursday, September 19th. Raymond James lifted their target price on shares of Micron Technology from $125.00 to $140.00 and gave the company an “outperform” rating in a research note on Thursday, September 26th. Robert W. Baird cut their target price on Micron Technology from $172.00 to $150.00 and set an “outperform” rating for the company in a research report on Friday, September 27th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Micron Technology from $130.00 to $180.00 and gave the stock an “overweight” rating in a research report on Thursday, June 27th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-five have given a buy rating to the company. Based on data from MarketBeat.com, Micron Technology presently has an average rating of “Moderate Buy” and a consensus target price of $142.85.

Insiders Place Their Bets

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of the stock in a transaction dated Thursday, September 26th. The stock was 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. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.32% of the company’s stock.

Micron Technology Price Performance

Shares of NASDAQ MU traded up $4.37 during midday trading on Thursday, reaching $106.07. The company’s stock had a trading volume of 15,398,972 shares, compared to its average volume of 22,286,359. The company has a 50 day moving average price of $96.40 and a 200 day moving average price of $115.04. 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 cap of $117.61 billion, a price-to-earnings ratio of -73.13, a price-to-earnings-growth ratio of 0.20 and a beta of 1.18. Micron Technology, Inc. has a one year low of $63.88 and a one year high of $157.54.

Micron Technology (NASDAQ:MU) last released 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. The company had revenue of $7.75 billion for the quarter, compared to analyst estimates of $7.65 billion. Micron Technology had a negative return on equity of 4.01% and a negative net margin of 7.20%. The company’s revenue was up 93.3% compared to the same quarter last year. During the same period in the prior year, the company posted ($1.21) EPS. On average, equities research analysts expect that Micron Technology, Inc. will post 0.61 EPS for the current year.

Micron Technology Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 23rd. Stockholders of record on Monday, October 7th will be paid 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 dividend yield of 0.43%. Micron Technology’s dividend payout ratio (DPR) 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.