Tyler Stone Wealth Management Increases Holdings in Micron Technology, Inc. (NASDAQ:MU)

Tyler Stone Wealth Management raised its stake in Micron Technology, Inc. (NASDAQ:MU) by 106.6% during the third quarter, HoldingsChannel reports. The fund owned 11,208 shares of the semiconductor manufacturer’s stock after buying an additional 5,782 shares during the period. Tyler Stone Wealth Management’s holdings in Micron Technology were worth $1,162,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Highline Wealth Partners LLC bought a new position in Micron Technology in the 3rd quarter valued at approximately $26,000. Hobbs Group Advisors LLC bought a new position in shares of Micron Technology during the second quarter valued at $28,000. Davis Capital Management purchased a new stake in shares of Micron Technology during the third quarter valued at $30,000. Richard W. Paul & Associates LLC increased its holdings in Micron Technology by 128.6% in the 2nd quarter. Richard W. Paul & Associates LLC now owns 256 shares of the semiconductor manufacturer’s stock worth $34,000 after buying an additional 144 shares in the last quarter. Finally, DT Investment Partners LLC lifted its stake in Micron Technology by 261.1% during the 3rd quarter. DT Investment Partners LLC now owns 325 shares of the semiconductor manufacturer’s stock valued at $34,000 after acquiring an additional 235 shares during the period. 80.84% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on MU. Cantor Fitzgerald reiterated an “overweight” rating and issued a $150.00 price target on shares of Micron Technology in a research note on Tuesday, October 1st. Rosenblatt Securities lifted their target price on shares of Micron Technology from $225.00 to $250.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. Raymond James boosted their target price on shares of Micron Technology from $125.00 to $140.00 and gave the company an “outperform” rating in a research note on Thursday, September 26th. Susquehanna dropped their price target on Micron Technology from $175.00 to $165.00 and set a “positive” rating on the stock in a research note on Thursday, September 26th. Finally, Robert W. Baird reduced their price objective on Micron Technology from $172.00 to $150.00 and set an “outperform” rating for the company in a research report on Friday, September 27th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-six have given a buy rating to the stock. According to data from MarketBeat, Micron Technology currently has an average rating of “Moderate Buy” and a consensus price target of $143.04.

Micron Technology Price Performance

NASDAQ MU traded down $1.51 during trading hours on Friday, reaching $111.90. The company’s stock had a trading volume of 13,045,721 shares, compared to its average volume of 17,080,670. Micron Technology, Inc. has a 1 year low of $72.93 and a 1 year high of $157.54. The company has a quick ratio of 1.68, a current ratio of 2.64 and a debt-to-equity ratio of 0.29. The company has a market capitalization of $124.07 billion, a price-to-earnings ratio of 164.56 and a beta of 1.18. The firm’s 50-day moving average price is $100.16 and its 200-day moving average price is $113.12.

Micron Technology (NASDAQ:MU) last released its earnings results on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 EPS for the quarter, topping the consensus estimate 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 net margin of 3.10% and a return on equity of 1.58%. The company’s quarterly revenue was up 93.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($1.21) earnings per share. On average, equities research analysts predict that Micron Technology, Inc. will post 8.31 EPS for the current fiscal year.

Micron Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 23rd. Stockholders 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 dividend yield of 0.41%. Micron Technology’s payout ratio is 67.65%.

Insider Transactions at Micron Technology

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 transaction of $552,570.00. Following the sale, 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 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.