Spectrum Financial Alliance Ltd LLC Has $7.01 Million Stake in Micron Technology, Inc. (NASDAQ:MU)

Spectrum Financial Alliance Ltd LLC boosted its holdings in shares of Micron Technology, Inc. (NASDAQ:MU) by 7.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 67,556 shares of the semiconductor manufacturer’s stock after acquiring an additional 4,888 shares during the quarter. Micron Technology accounts for about 2.5% of Spectrum Financial Alliance Ltd LLC’s portfolio, making the stock its 9th largest position. Spectrum Financial Alliance Ltd LLC’s holdings in Micron Technology were worth $7,006,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in MU. Mitsubishi UFJ Asset Management UK Ltd. bought a new position in Micron Technology during the 3rd quarter worth approximately $415,000. Slow Capital Inc. raised its stake in Micron Technology by 0.4% during the third quarter. Slow Capital Inc. now owns 41,226 shares of the semiconductor manufacturer’s stock worth $4,276,000 after buying an additional 177 shares during the last quarter. Capital Investment Advisors LLC lifted its holdings in Micron Technology by 6.8% in the third quarter. Capital Investment Advisors LLC now owns 5,878 shares of the semiconductor manufacturer’s stock valued at $610,000 after buying an additional 372 shares during the period. Blue Trust Inc. lifted its holdings in Micron Technology by 37.7% in the third quarter. Blue Trust Inc. now owns 14,154 shares of the semiconductor manufacturer’s stock valued at $1,468,000 after buying an additional 3,878 shares during the period. Finally, Generate Investment Management Ltd bought a new stake in Micron Technology during the third quarter valued at $21,606,000. 80.84% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on MU. Citigroup lowered their price objective on Micron Technology from $175.00 to $150.00 and set a “buy” rating for the company in a research report on Tuesday, September 17th. Stifel Nicolaus lowered their target price on Micron Technology from $165.00 to $135.00 and set a “buy” rating for the company in a report on Thursday, September 19th. KeyCorp cut their price target on Micron Technology from $145.00 to $135.00 and set an “overweight” rating on the stock in a report on Tuesday, October 8th. UBS Group lowered their price objective on shares of Micron Technology from $153.00 to $135.00 and set a “buy” rating for the company in a research note on Tuesday, September 17th. Finally, Robert W. Baird cut their target price on shares of Micron Technology from $172.00 to $150.00 and set an “outperform” rating on the stock in a research note on Friday, September 27th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $142.85.

Micron Technology Stock Performance

Shares of MU opened at $111.15 on Friday. Micron Technology, Inc. has a 1 year low of $63.88 and a 1 year high of $157.54. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.64 and a quick ratio of 1.68. The stock’s fifty day moving average price is $98.64 and its two-hundred day moving average price is $114.48. The firm has a market cap of $123.25 billion, a PE ratio of -78.27 and a beta of 1.18.

Micron Technology (NASDAQ:MU) last posted its earnings results on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 earnings per share for the quarter, topping the consensus estimate of $0.97 by $0.21. The firm had revenue of $7.75 billion during the quarter, compared to the consensus estimate of $7.65 billion. Micron Technology had a net margin of 3.10% and a return on equity of 1.58%. The company’s revenue was up 93.3% on a year-over-year basis. During the same quarter last year, the company earned ($1.21) earnings per share. On average, equities research analysts forecast that Micron Technology, Inc. will post 8.31 EPS for the current year.

Micron Technology Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 23rd. Shareholders of record on Monday, October 7th will be paid a $0.115 dividend. The ex-dividend date of this dividend is Monday, October 7th. This represents a $0.46 annualized dividend and a yield of 0.41%. Micron Technology’s dividend payout ratio is currently -32.39%.

Insider Buying and Selling at Micron Technology

In related news, EVP April S. Arnzen sold 4,890 shares of the company’s stock in a transaction that occurred 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 sale, the executive vice president now owns 135,830 shares of the company’s stock, valued at approximately $15,348,790. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.32% of the company’s stock.

Micron Technology 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.