Micron Technology, Inc. (NASDAQ:MU) Shares Acquired by Creative Planning

Creative Planning lifted its holdings in Micron Technology, Inc. (NASDAQ:MU) by 8.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 161,774 shares of the semiconductor manufacturer’s stock after buying an additional 12,168 shares during the quarter. Creative Planning’s holdings in Micron Technology were worth $16,751,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of MU. Hobbs Group Advisors LLC purchased a new stake in Micron Technology during the second quarter worth $28,000. DecisionPoint Financial LLC purchased a new stake in shares of Micron Technology in the first quarter valued at $25,000. Valued Wealth Advisors LLC lifted its position 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 valued at $29,000 after acquiring an additional 173 shares in the last quarter. Richard W. Paul & Associates LLC lifted its position 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 valued at $34,000 after acquiring an additional 144 shares in the last quarter. Finally, LRI Investments LLC lifted its position in shares of Micron Technology by 57.2% in the second quarter. LRI Investments LLC now owns 272 shares of the semiconductor manufacturer’s stock valued at $36,000 after acquiring an additional 99 shares in the last quarter. 80.84% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Micron Technology

In other news, EVP April S. Arnzen sold 4,890 shares of the business’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 value of $552,570.00. Following the completion of the sale, 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.32% of the stock is currently owned by corporate insiders.

Micron Technology Stock Performance

Micron Technology stock opened at $109.08 on Tuesday. The stock’s 50 day moving average price is $98.93 and its 200 day moving average price is $114.28. The firm has a market capitalization of $120.95 billion, a PE ratio of -76.82 and a beta of 1.18. 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, Inc. has a one year low of $63.88 and a one year high of $157.54.

Micron Technology (NASDAQ:MU) last announced 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. 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 analyst estimates of $7.65 billion. During the same period in the prior year, the company posted ($1.21) EPS. Micron Technology’s quarterly revenue was up 93.3% on a year-over-year basis. As a group, sell-side analysts expect that Micron Technology, Inc. will post 8.31 EPS for the current fiscal year.

Micron Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 23rd. Shareholders of record on Monday, October 7th will be given a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.42%. The ex-dividend date is Monday, October 7th. Micron Technology’s payout ratio is -32.39%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on MU shares. Needham & Company LLC reiterated a “buy” rating and issued a $140.00 target price on shares of Micron Technology in a research note on Thursday, September 26th. BNP Paribas lowered Micron Technology from an “outperform” rating to an “underperform” rating and dropped their target price for the company from $140.00 to $67.00 in a research note on Thursday, September 12th. The Goldman Sachs Group upped their target price on Micron Technology from $138.00 to $158.00 and gave the company a “buy” rating in a research note on Thursday, June 27th. Robert W. Baird dropped their target price on Micron Technology from $172.00 to $150.00 and set an “outperform” rating for the company in a research note on Friday, September 27th. Finally, TD Cowen upped their price target on Micron Technology from $115.00 to $135.00 and gave the stock a “buy” rating in a research note on Thursday, September 26th. One research analyst has rated the stock with a sell rating, two have given a hold rating and twenty-five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $142.85.

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.