Graypoint LLC Purchases 1,896 Shares of Micron Technology, Inc. (NASDAQ:MU)

Graypoint LLC boosted its position in Micron Technology, Inc. (NASDAQ:MU) by 19.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 11,705 shares of the semiconductor manufacturer’s stock after acquiring an additional 1,896 shares during the period. Graypoint LLC’s holdings in Micron Technology were worth $1,214,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Clearbridge Investments LLC raised its stake in shares of Micron Technology by 1.1% in the first quarter. Clearbridge Investments LLC now owns 1,931,811 shares of the semiconductor manufacturer’s stock worth $227,741,000 after purchasing an additional 20,741 shares during the last quarter. Global X Japan Co. Ltd. raised its stake in shares of Micron Technology by 23.1% in the third quarter. Global X Japan Co. Ltd. now owns 51,832 shares of the semiconductor manufacturer’s stock worth $5,375,000 after purchasing an additional 9,735 shares during the last quarter. River Road Asset Management LLC increased its position in shares of Micron Technology by 9.1% during the third quarter. River Road Asset Management LLC now owns 163,272 shares of the semiconductor manufacturer’s stock valued at $16,933,000 after acquiring an additional 13,573 shares during the last quarter. Chapin Davis Inc. purchased a new stake in shares of Micron Technology during the second quarter valued at approximately $4,056,000. Finally, RWQ Financial Management Services Inc. purchased a new stake in shares of Micron Technology during the third quarter valued at approximately $1,270,000. 80.84% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages recently commented on MU. Rosenblatt Securities increased their price target on Micron Technology from $225.00 to $250.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. UBS Group decreased their price target on Micron Technology from $153.00 to $135.00 and set a “buy” rating for the company in a research report on Tuesday, September 17th. China Renaissance began coverage on Micron Technology in a research report on Monday, October 28th. They set a “buy” rating and a $148.00 price target for the company. BNP Paribas downgraded Micron Technology from an “outperform” rating to an “underperform” rating and decreased their price target for the company from $140.00 to $67.00 in a research report on Thursday, September 12th. Finally, Wells Fargo & Company reduced their price objective on Micron Technology from $190.00 to $175.00 and set an “overweight” rating for the company in a report on Wednesday, September 18th. One research analyst has rated the stock with a sell rating, two have given a hold rating and twenty-six have given a buy rating to the stock. According to MarketBeat, Micron Technology has a consensus rating of “Moderate Buy” and an average price target of $143.04.

Micron Technology Price Performance

NASDAQ:MU opened at $113.41 on Friday. The firm has a market capitalization of $125.74 billion, a price-to-earnings ratio of 166.78 and a beta of 1.18. Micron Technology, Inc. has a 52-week low of $71.71 and a 52-week high of $157.54. The stock has a fifty day moving average of $99.49 and a 200 day moving average of $113.09. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.68 and a current ratio of 2.64.

Micron Technology (NASDAQ:MU) last posted its quarterly earnings data on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.97 by $0.21. The company 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 firm’s quarterly 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, research analysts expect 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 of this dividend was Monday, October 7th. This represents a $0.46 dividend on an annualized basis and a yield of 0.41%. Micron Technology’s payout ratio is 67.65%.

Insider Buying and Selling at Micron Technology

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of the firm’s stock in a transaction dated Thursday, September 26th. The stock was 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 in the company, valued at $15,348,790. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.32% of the company’s stock.

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.