GFG Capital LLC Acquires 502 Shares of Micron Technology, Inc. (NASDAQ:MU)

GFG Capital LLC grew its holdings in Micron Technology, Inc. (NASDAQ:MU) by 2.4% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 21,386 shares of the semiconductor manufacturer’s stock after purchasing an additional 502 shares during the period. GFG Capital LLC’s holdings in Micron Technology were worth $2,218,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Hobbs Group Advisors LLC bought a new stake in Micron Technology during the 2nd quarter worth $28,000. DecisionPoint Financial LLC bought a new stake in Micron Technology during the 1st quarter worth $25,000. Valued Wealth Advisors LLC grew its position in Micron Technology by 230.7% during the 1st 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 last quarter. Richard W. Paul & Associates LLC grew its position in Micron Technology by 128.6% during the 2nd 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 last quarter. Finally, LRI Investments LLC grew its position in Micron Technology by 57.2% during the 2nd quarter. LRI Investments LLC now owns 272 shares of the semiconductor manufacturer’s stock worth $36,000 after acquiring an additional 99 shares during the last quarter. Institutional investors own 80.84% of the company’s stock.

Insider Activity

In other news, EVP April S. Arnzen sold 4,890 shares of the company’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 transaction, the executive vice president now directly owns 135,830 shares of the company’s stock, valued at $15,348,790. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.32% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Robert W. Baird reduced their price target on Micron Technology from $172.00 to $150.00 and set an “outperform” rating on the stock in a research report on Friday, September 27th. The Goldman Sachs Group upped their price target on Micron Technology from $138.00 to $158.00 and gave the company a “buy” rating in a research report on Thursday, June 27th. Susquehanna reduced their price target on Micron Technology from $175.00 to $165.00 and set a “positive” rating on the stock in a research report on Thursday, September 26th. TD Cowen upped their price target on Micron Technology from $115.00 to $135.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. Finally, JPMorgan Chase & Co. upped their price target on Micron Technology from $130.00 to $180.00 and gave the company an “overweight” rating in a research report on Thursday, June 27th. One 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. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $142.85.

Micron Technology Stock Performance

Shares of MU opened at $109.08 on Tuesday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.68 and a current ratio of 2.64. The stock has a 50 day moving average price of $98.93 and a two-hundred day moving average price of $114.28. The firm has a market capitalization of $120.95 billion, a P/E ratio of -76.82 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 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 firm had revenue of $7.75 billion during the quarter, compared to analyst estimates of $7.65 billion. Micron Technology had a return on equity of 1.58% and a net margin of 3.10%. The company’s revenue for the quarter was up 93.3% on a year-over-year basis. During the same period in the previous year, the company posted ($1.21) EPS. Equities analysts forecast that Micron Technology, Inc. will post 8.31 earnings per share 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. Stockholders of record on Monday, October 7th will be issued a $0.115 dividend. This represents a $0.46 annualized dividend and a dividend yield of 0.42%. The ex-dividend date is Monday, October 7th. Micron Technology’s dividend payout ratio is presently -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.