Harvest Portfolios Group Inc. Purchases 55,884 Shares of Micron Technology, Inc. (NASDAQ:MU)

Harvest Portfolios Group Inc. raised its position in Micron Technology, Inc. (NASDAQ:MU) by 31.4% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 233,705 shares of the semiconductor manufacturer’s stock after buying an additional 55,884 shares during the period. Harvest Portfolios Group Inc.’s holdings in Micron Technology were worth $24,238,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of the company. Hobbs Group Advisors LLC bought a new position in Micron Technology during the second quarter valued at about $28,000. Highline Wealth Partners LLC purchased a new position in Micron Technology in the third quarter valued at about $26,000. Richard W. Paul & Associates LLC boosted its stake in Micron Technology by 128.6% in the second quarter. Richard W. Paul & Associates LLC now owns 256 shares of the semiconductor manufacturer’s stock valued at $34,000 after acquiring an additional 144 shares during the last quarter. LRI Investments LLC grew its position in shares of Micron Technology by 57.2% during the 2nd quarter. LRI Investments LLC now owns 272 shares of the semiconductor manufacturer’s stock valued at $36,000 after acquiring an additional 99 shares during the period. Finally, Davis Capital Management purchased a new stake in shares of Micron Technology during the 3rd quarter worth approximately $30,000. Institutional investors own 80.84% of the company’s stock.

Micron Technology Stock Up 1.6 %

MU stock opened at $107.21 on Wednesday. The company’s 50 day moving average is $99.15 and its 200 day moving average is $113.10. The stock has a market cap of $118.87 billion, a price-to-earnings ratio of 155.13 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, Inc. has a 1-year low of $71.71 and a 1-year high of $157.54.

Micron Technology (NASDAQ:MU) last issued its quarterly earnings results 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 for the quarter, compared to analyst estimates of $7.65 billion. Micron Technology had a net margin of 3.10% and a return on equity of 1.58%. The business’s revenue for the quarter was up 93.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($1.21) EPS. Sell-side analysts predict that Micron Technology, Inc. will post 8.31 EPS for the current fiscal year.

Micron Technology Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 23rd. Shareholders of record on Monday, October 7th were given a dividend of $0.115 per share. The ex-dividend date was Monday, October 7th. This represents a $0.46 dividend on an annualized basis and a yield of 0.43%. Micron Technology’s payout ratio is 67.65%.

Insiders Place Their Bets

In other Micron Technology 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 sale, the executive vice president now 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.32% of the company’s stock.

Analyst Ratings Changes

A number of research firms have issued reports on MU. Stifel Nicolaus decreased their target price on Micron Technology from $165.00 to $135.00 and set a “buy” rating for the company in a research report on Thursday, September 19th. Susquehanna decreased their price objective on Micron Technology from $175.00 to $165.00 and set a “positive” rating for the company in a report on Thursday, September 26th. Rosenblatt Securities upped their price objective on shares of Micron Technology from $225.00 to $250.00 and gave the company a “buy” rating in a report on Thursday, September 26th. Bank of America increased their target price on shares of Micron Technology from $110.00 to $125.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. Finally, Robert W. Baird lowered their price target on shares of Micron Technology from $172.00 to $150.00 and set an “outperform” rating on the stock in a research report on Friday, September 27th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-six have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $143.04.

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.