MONECO Advisors LLC Increases Stock Holdings in Micron Technology, Inc. (NASDAQ:MU)

MONECO Advisors LLC boosted its stake in Micron Technology, Inc. (NASDAQ:MU) by 3.9% in the third quarter, Holdings Channel reports. The fund owned 4,909 shares of the semiconductor manufacturer’s stock after buying an additional 183 shares during the quarter. MONECO Advisors LLC’s holdings in Micron Technology were worth $509,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Vanguard Group Inc. increased its position in shares of Micron Technology by 1.8% during the first quarter. Vanguard Group Inc. now owns 96,666,590 shares of the semiconductor manufacturer’s stock worth $11,396,024,000 after acquiring an additional 1,681,815 shares during the last quarter. Capital World Investors increased its holdings in Micron Technology by 6.6% during the 1st quarter. Capital World Investors now owns 22,748,381 shares of the semiconductor manufacturer’s stock worth $2,681,807,000 after purchasing an additional 1,400,154 shares during the last quarter. Capital International Investors raised its position in shares of Micron Technology by 15.1% in the 1st quarter. Capital International Investors now owns 18,303,506 shares of the semiconductor manufacturer’s stock valued at $2,157,800,000 after purchasing an additional 2,397,885 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of Micron Technology by 22.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 18,243,633 shares of the semiconductor manufacturer’s stock valued at $2,150,743,000 after buying an additional 3,315,988 shares during the last quarter. Finally, Van ECK Associates Corp grew its position in shares of Micron Technology by 6.9% during the second quarter. Van ECK Associates Corp now owns 8,086,213 shares of the semiconductor manufacturer’s stock worth $1,063,580,000 after buying an additional 519,641 shares in the last quarter. Institutional investors and hedge funds own 80.84% of the company’s stock.

Insider Activity at Micron Technology

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of the business’s stock in a transaction dated 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 directly owns 135,830 shares in the company, valued at approximately $15,348,790. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.32% of the company’s stock.

Wall Street Analysts Forecast Growth

MU has been the topic of several recent analyst reports. Wells Fargo & Company cut their price target on shares of Micron Technology from $190.00 to $175.00 and set an “overweight” rating on the stock in a report on Wednesday, September 18th. Raymond James increased their price target on shares of Micron Technology from $125.00 to $140.00 and gave the stock an “outperform” rating in a research report on Thursday, September 26th. TD Cowen boosted their price objective on Micron Technology from $115.00 to $135.00 and gave the company a “buy” rating in a report on Thursday, September 26th. 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. Finally, Bank of America lifted their target price on Micron Technology from $110.00 to $125.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $143.04.

Micron Technology Price Performance

NASDAQ MU opened at $108.18 on Wednesday. The company has a 50-day moving average price of $99.18 and a two-hundred day moving average price of $113.58. Micron Technology, Inc. has a 52 week low of $65.17 and a 52 week high of $157.54. The stock has a market cap of $119.95 billion, a price-to-earnings ratio of -76.18 and a beta of 1.18. The company has a current ratio of 2.64, a quick ratio of 1.68 and a debt-to-equity ratio of 0.29.

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

Micron Technology Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 23rd. Stockholders of record on Monday, October 7th were issued a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.43%. The ex-dividend date of this dividend was Monday, October 7th. Micron Technology’s dividend payout ratio (DPR) is -32.39%.

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.