Arvest Investments Inc. Purchases 243 Shares of Micron Technology, Inc. (NASDAQ:MU)

Arvest Investments Inc. boosted its position in Micron Technology, Inc. (NASDAQ:MU) by 1.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 20,842 shares of the semiconductor manufacturer’s stock after purchasing an additional 243 shares during the period. Arvest Investments Inc.’s holdings in Micron Technology were worth $2,162,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Micron Technology Stock Performance

NASDAQ:MU traded down $1.51 during mid-day trading on Friday, hitting $111.90. The company’s stock had a trading volume of 13,045,721 shares, compared to its average volume of 17,080,670. The business’s fifty day moving average is $100.16 and its two-hundred day moving average is $113.12. The stock has a market cap of $124.07 billion, a price-to-earnings ratio of 164.56 and a beta of 1.18. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.64 and a quick ratio of 1.68. Micron Technology, Inc. has a 1 year low of $72.93 and a 1 year high of $157.54.

Micron Technology (NASDAQ:MU) last issued its 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 the consensus estimate 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 was up 93.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($1.21) earnings per share. Analysts anticipate that Micron Technology, Inc. will post 8.31 EPS for the current fiscal year.

Micron Technology Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 23rd. Investors of record on Monday, October 7th were paid a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a yield of 0.41%. The ex-dividend date of this dividend was Monday, October 7th. Micron Technology’s dividend payout ratio is presently 67.65%.

Insider Buying and Selling

In related news, EVP April S. Arnzen sold 4,890 shares of the stock in a transaction 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 approximately $15,348,790. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.32% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

MU has been the topic of a number of recent research reports. Wedbush reissued an “outperform” rating and set a $140.00 price target on shares of Micron Technology in a research report on Thursday, September 26th. China Renaissance began coverage on shares of Micron Technology in a research report on Monday, October 28th. They set a “buy” rating and a $148.00 target price on the stock. Citigroup lowered their price target on shares of Micron Technology from $175.00 to $150.00 and set a “buy” rating for the company in a research report on Tuesday, September 17th. Needham & Company LLC reiterated a “buy” rating and set a $140.00 price objective on shares of Micron Technology in a research note on Thursday, September 26th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $150.00 price objective on shares of Micron Technology in a research note on Tuesday, October 1st. One research analyst has rated the stock with a sell rating, two have given a hold rating and twenty-six have issued a buy rating to the company’s stock. Based on data from MarketBeat, Micron Technology currently has a consensus rating of “Moderate Buy” and a consensus target price of $143.04.

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.