Micron Technology, Inc. (NASDAQ:MU) Shares Acquired by Frazier Financial Advisors LLC

Frazier Financial Advisors LLC lifted its stake in shares of Micron Technology, Inc. (NASDAQ:MU) by 516.8% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,357 shares of the semiconductor manufacturer’s stock after buying an additional 1,137 shares during the quarter. Frazier Financial Advisors LLC’s holdings in Micron Technology were worth $141,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Intech Investment Management LLC lifted its stake in Micron Technology by 6.5% during the first quarter. Intech Investment Management LLC now owns 44,025 shares of the semiconductor manufacturer’s stock worth $5,190,000 after purchasing an additional 2,701 shares during the last quarter. TIAA Trust National Association purchased a new stake in Micron Technology during the first quarter worth approximately $327,000. Acadian Asset Management LLC lifted its stake in Micron Technology by 487.7% during the first quarter. Acadian Asset Management LLC now owns 132,882 shares of the semiconductor manufacturer’s stock worth $15,660,000 after purchasing an additional 110,271 shares during the last quarter. Trustmark National Bank Trust Department lifted its stake in Micron Technology by 4.1% during the first quarter. Trustmark National Bank Trust Department now owns 15,596 shares of the semiconductor manufacturer’s stock worth $1,839,000 after purchasing an additional 616 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC lifted its stake in Micron Technology by 3.2% during the first quarter. O Shaughnessy Asset Management LLC now owns 98,524 shares of the semiconductor manufacturer’s stock worth $11,615,000 after purchasing an additional 3,016 shares during the last quarter. 80.84% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have weighed in on MU. Cantor Fitzgerald reiterated an “overweight” rating and issued a $150.00 price objective on shares of Micron Technology in a research note on Tuesday, October 1st. Morgan Stanley boosted their price objective on Micron Technology from $100.00 to $114.00 and gave the company an “equal weight” rating in a research note on Thursday, September 26th. Rosenblatt Securities boosted their price objective on Micron Technology from $225.00 to $250.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. Susquehanna reduced their price objective on Micron Technology from $175.00 to $165.00 and set a “positive” rating for the company in a research note on Thursday, September 26th. Finally, Wedbush reaffirmed an “outperform” rating and set a $140.00 price target on shares of Micron Technology in a report on Thursday, September 26th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-six have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $143.04.

Micron Technology Trading Down 2.9 %

Micron Technology stock opened at $96.34 on Friday. The stock has a market cap of $106.82 billion, a PE ratio of 141.68 and a beta of 1.18. The stock has a 50-day moving average price of $101.33 and a 200 day moving average price of $112.72. Micron Technology, Inc. has a 52 week low of $72.93 and a 52 week high of $157.54. 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 posted its quarterly earnings data 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 during the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same quarter last year, the business posted ($1.21) EPS. Equities research analysts predict that Micron Technology, Inc. will post 8.31 earnings per share for the current fiscal year.

Micron Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 23rd. Shareholders 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 0.48%. The ex-dividend date was Monday, October 7th. Micron Technology’s payout ratio is 67.65%.

Insiders Place Their Bets

In other news, EVP April S. Arnzen sold 4,890 shares of Micron Technology stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $113.00, for a total value of $552,570.00. Following the transaction, the executive vice president now directly owns 135,830 shares of the company’s stock, valued at $15,348,790. The trade was a 3.47 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. 0.32% of the stock is owned by corporate insiders.

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.