Biltmore Wealth Management LLC Has $893,000 Stock Holdings in Micron Technology, Inc. (NASDAQ:MU)

Biltmore Wealth Management LLC lowered its stake in shares of Micron Technology, Inc. (NASDAQ:MU) by 9.8% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 8,609 shares of the semiconductor manufacturer’s stock after selling 939 shares during the period. Micron Technology makes up 0.4% of Biltmore Wealth Management LLC’s investment portfolio, making the stock its 27th biggest holding. Biltmore Wealth Management LLC’s holdings in Micron Technology were worth $893,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Czech National Bank raised its position in shares of Micron Technology by 7.1% during the third quarter. Czech National Bank now owns 225,924 shares of the semiconductor manufacturer’s stock worth $23,431,000 after acquiring an additional 14,902 shares during the last quarter. Abacus Planning Group Inc. boosted its stake in Micron Technology by 7.2% in the 3rd quarter. Abacus Planning Group Inc. now owns 2,849 shares of the semiconductor manufacturer’s stock worth $296,000 after purchasing an additional 191 shares during the period. Davis Capital Management bought a new stake in shares of Micron Technology in the third quarter worth $30,000. Appleton Partners Inc. MA increased its position in shares of Micron Technology by 4.0% in the third quarter. Appleton Partners Inc. MA now owns 156,356 shares of the semiconductor manufacturer’s stock valued at $16,216,000 after acquiring an additional 6,042 shares during the last quarter. Finally, Neville Rodie & Shaw Inc. increased its holdings in Micron Technology by 0.8% during the third quarter. Neville Rodie & Shaw Inc. now owns 39,945 shares of the semiconductor manufacturer’s stock worth $4,142,000 after buying an additional 300 shares during the last quarter. Institutional investors own 80.84% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on MU. Wells Fargo & Company cut their target price on Micron Technology from $190.00 to $175.00 and set an “overweight” rating for the company in a research report on Wednesday, September 18th. 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. Rosenblatt Securities raised their price target on shares of Micron Technology from $225.00 to $250.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. Needham & Company LLC reissued a “buy” rating and set a $140.00 target price on shares of Micron Technology in a research report on Thursday, September 26th. Finally, Wolfe Research raised their price objective on shares of Micron Technology from $150.00 to $200.00 and gave the stock an “outperform” rating in a report on Friday, June 21st. One analyst has rated the stock with a sell rating, two have given a hold rating and twenty-five have issued a buy rating to the company. Based on data from MarketBeat, Micron Technology has an average rating of “Moderate Buy” and a consensus target price of $143.23.

Insider Transactions at Micron Technology

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of the business’s stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $113.00, for a total transaction of $552,570.00. Following the completion of the transaction, the executive vice president now owns 135,830 shares of the company’s stock, valued at $15,348,790. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.32% of the company’s stock.

Micron Technology Stock Up 0.4 %

Shares of MU stock traded up $0.43 on Friday, hitting $102.25. The stock had a trading volume of 21,945,805 shares, compared to its average volume of 22,362,682. The stock’s 50 day moving average is $96.66 and its 200-day moving average is $114.96. The company has a debt-to-equity ratio of 0.29, a quick ratio of 2.16 and a current ratio of 3.41. The firm has a market capitalization of $113.38 billion, a price-to-earnings ratio of -72.01, a P/E/G ratio of 0.20 and a beta of 1.18. Micron Technology, Inc. has a 52-week low of $63.88 and a 52-week high of $157.54.

Micron Technology (NASDAQ:MU) last issued its earnings results on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 earnings per share 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 analysts’ expectations of $7.65 billion. Micron Technology had a negative net margin of 7.20% and a negative return on equity of 4.01%. The firm’s revenue was up 93.3% compared to the same quarter last year. During the same period in the prior year, the company earned ($1.21) earnings per share. As a group, research analysts expect that Micron Technology, Inc. will post 0.61 earnings per share for the current 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 dividend of $0.115 per share. This represents a $0.46 annualized dividend and a dividend yield of 0.45%. 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.