Gibson Wealth Advisors LLC Buys 600 Shares of Micron Technology, Inc. (NASDAQ:MU)

Gibson Wealth Advisors LLC boosted its stake in Micron Technology, Inc. (NASDAQ:MU) by 18.4% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 3,866 shares of the semiconductor manufacturer’s stock after buying an additional 600 shares during the period. Micron Technology makes up 0.5% of Gibson Wealth Advisors LLC’s portfolio, making the stock its 20th largest holding. Gibson Wealth Advisors LLC’s holdings in Micron Technology were worth $508,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the stock. Dana Investment Advisors Inc. bought a new position in Micron Technology during the 2nd quarter worth $17,027,000. KPP Advisory Services LLC increased its position in Micron Technology by 25.2% during the second quarter. KPP Advisory Services LLC now owns 3,476 shares of the semiconductor manufacturer’s stock worth $457,000 after acquiring an additional 700 shares during the period. SPX Gestao de Recursos Ltda bought a new position in Micron Technology during the second quarter worth about $4,077,000. Cetera Investment Advisers raised its stake in Micron Technology by 30.8% in the 2nd quarter. Cetera Investment Advisers now owns 253,256 shares of the semiconductor manufacturer’s stock worth $33,311,000 after purchasing an additional 59,707 shares in the last quarter. Finally, 3Chopt Investment Partners LLC bought a new stake in Micron Technology in the 2nd quarter valued at about $719,000. 80.84% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

MU has been the topic of several recent research reports. Needham & Company LLC reaffirmed a “buy” rating and set a $140.00 target price on shares of Micron Technology in a report on Thursday, September 26th. Bank of America boosted their price objective on shares of Micron Technology from $110.00 to $125.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. Wedbush reaffirmed an “outperform” rating and issued a $140.00 target price on shares of Micron Technology in a report on Thursday, September 26th. UBS Group lowered 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 raised their price objective on Micron Technology from $138.00 to $158.00 and gave the company a “buy” rating in a research note on Thursday, June 27th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $143.23.

Insider Transactions at Micron Technology

In other news, EVP April S. Arnzen sold 4,890 shares of Micron Technology 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 of the company’s stock, valued at approximately $15,348,790. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.32% of the stock is currently owned by corporate insiders.

Micron Technology Stock Down 3.3 %

Shares of MU opened at $100.31 on Wednesday. The company has a market capitalization of $111.23 billion, a PE ratio of -70.64, a PEG ratio of 0.20 and a beta of 1.17. The stock’s 50-day moving average price is $97.12 and its two-hundred day moving average price is $115.10. 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.

Micron Technology (NASDAQ:MU) last posted its quarterly earnings data on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 EPS for the quarter, topping analysts’ consensus estimates 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 firm’s quarterly revenue was up 93.3% on a year-over-year basis. During the same period in the previous year, the firm earned ($1.21) earnings per share. On average, analysts anticipate that Micron Technology, Inc. will post 0.61 EPS for the current year.

Micron Technology Announces Dividend

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