Tradewinds LLC. Boosts Stake in Micron Technology, Inc. (NASDAQ:MU)

Tradewinds LLC. lifted its holdings in Micron Technology, Inc. (NASDAQ:MU) by 22.8% in the 3rd quarter, Holdings Channel.com reports. The firm owned 21,201 shares of the semiconductor manufacturer’s stock after purchasing an additional 3,937 shares during the quarter. Tradewinds LLC.’s holdings in Micron Technology were worth $2,199,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of MU. Highline Wealth Partners LLC purchased a new stake in shares of Micron Technology during the third quarter worth about $26,000. Hobbs Group Advisors LLC acquired a new stake in Micron Technology during the 2nd quarter worth $28,000. Davis Capital Management acquired a new stake in shares of Micron Technology in the third quarter valued at about $30,000. Richard W. Paul & Associates LLC boosted its position in Micron Technology by 128.6% during the second quarter. Richard W. Paul & Associates LLC now owns 256 shares of the semiconductor manufacturer’s stock worth $34,000 after acquiring an additional 144 shares during the last quarter. Finally, DT Investment Partners LLC raised its holdings in Micron Technology by 261.1% in 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 last quarter. Institutional investors and hedge funds own 80.84% of the company’s stock.

Micron Technology Trading Up 0.7 %

Shares of NASDAQ:MU opened at $98.37 on Thursday. Micron Technology, Inc. has a 52 week low of $72.93 and a 52 week high of $157.54. The company’s 50 day moving average is $101.93 and its two-hundred day moving average is $112.42. The company has a current ratio of 2.64, a quick ratio of 1.68 and a debt-to-equity ratio of 0.29. The company has a market cap of $109.07 billion, a PE ratio of 144.66 and a beta of 1.18.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings results on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.97 by $0.21. Micron Technology had a return on equity of 1.58% and a net margin of 3.10%. The firm had revenue of $7.75 billion during the quarter, compared to the consensus estimate of $7.65 billion. During the same period in the prior year, the company posted ($1.21) earnings per share. The firm’s quarterly revenue was up 93.3% compared to the same quarter last year. Equities analysts predict that Micron Technology, Inc. will post 8.31 earnings per share for the current fiscal year.

Micron Technology Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 23rd. Investors of record on Monday, October 7th were paid 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 0.47%. Micron Technology’s dividend payout ratio is presently 67.65%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on MU shares. Wells Fargo & Company cut their price target on Micron Technology from $190.00 to $175.00 and set an “overweight” rating for the company in a report on Wednesday, September 18th. Morgan Stanley increased their price target on shares of Micron Technology from $100.00 to $114.00 and gave the company an “equal weight” rating in a research note on Thursday, September 26th. Bank of America lifted their price target on shares of Micron Technology from $110.00 to $125.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. Robert W. Baird cut their target price on Micron Technology from $172.00 to $150.00 and set an “outperform” rating for the company in a research note on Friday, September 27th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $150.00 price target on shares of Micron Technology in a research note on Tuesday, October 1st. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-six have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $143.04.

Insider Transactions at Micron Technology

In other news, EVP April S. Arnzen sold 4,890 shares of Micron Technology stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $113.00, for a total value of $552,570.00. Following the sale, the executive vice president now owns 135,830 shares of the company’s stock, valued at $15,348,790. The trade was a 3.47 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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.