3Chopt Investment Partners LLC Takes $719,000 Position in Micron Technology, Inc. (NASDAQ:MU)

3Chopt Investment Partners LLC bought a new stake in Micron Technology, Inc. (NASDAQ:MU) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 5,468 shares of the semiconductor manufacturer’s stock, valued at approximately $719,000.

A number of other large investors also recently modified their holdings of the stock. DecisionPoint Financial LLC bought a new stake in Micron Technology during the first quarter worth $25,000. Hobbs Group Advisors LLC bought a new stake in Micron Technology during the second quarter worth $28,000. Frank Rimerman Advisors LLC bought a new stake in Micron Technology during the fourth quarter worth $29,000. Valued Wealth Advisors LLC lifted its holdings in Micron Technology by 230.7% during 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 lifted its holdings in Micron Technology by 128.6% during 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. Institutional investors own 80.84% of the company’s stock.

Insider Activity at Micron Technology

In related news, EVP April S. Arnzen sold 4,890 shares of the business’s stock in a transaction dated Thursday, September 26th. The stock was 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. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.32% of the stock is owned by company insiders.

Micron Technology Trading Down 3.5 %

NASDAQ MU opened at $103.71 on Tuesday. Micron Technology, Inc. has a 1-year low of $63.88 and a 1-year high of $157.54. 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 stock has a 50-day moving average of $97.40 and a 200-day moving average of $115.05. The firm has a market cap of $115.00 billion, a PE ratio of -73.04, a price-to-earnings-growth ratio of 0.20 and a beta of 1.17.

Micron Technology (NASDAQ:MU) last released its earnings results on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 earnings per share for the quarter, beating 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 during the quarter, compared to analyst estimates of $7.65 billion. During the same quarter in the previous year, the company posted ($1.21) EPS. Micron Technology’s revenue for the quarter was up 93.3% on a year-over-year basis. As a group, sell-side analysts forecast that Micron Technology, Inc. will post 0.61 EPS for the current year.

Micron Technology Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 23rd. Investors of record on Monday, October 7th will be issued a dividend of $0.115 per share. The ex-dividend date of this dividend is Monday, October 7th. This represents a $0.46 dividend on an annualized basis and a yield of 0.44%. Micron Technology’s dividend payout ratio is presently -32.39%.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Wedbush reissued an “outperform” rating and issued a $140.00 target price on shares of Micron Technology in a research report on Thursday, September 26th. Needham & Company LLC reissued a “buy” rating and issued a $140.00 target price on shares of Micron Technology in a research report on Thursday, September 26th. KeyCorp decreased their target price on Micron Technology from $165.00 to $145.00 and set an “overweight” rating for the company in a research report on Tuesday, August 6th. Stifel Nicolaus decreased their target price 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. Finally, Wolfe Research raised their target price on Micron Technology from $150.00 to $200.00 and gave the stock an “outperform” rating in a research report on Friday, June 21st. One research 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 stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $144.38.

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.