Timber Creek Capital Management LLC Raises Stake in Micron Technology, Inc. (NASDAQ:MU)

Timber Creek Capital Management LLC increased its stake in Micron Technology, Inc. (NASDAQ:MU) by 3.7% during the third quarter, according to its most recent filing with the SEC. The fund owned 52,227 shares of the semiconductor manufacturer’s stock after buying an additional 1,866 shares during the quarter. Micron Technology accounts for approximately 1.5% of Timber Creek Capital Management LLC’s portfolio, making the stock its 26th largest holding. Timber Creek Capital Management LLC’s holdings in Micron Technology were worth $5,416,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Highline Wealth Partners LLC purchased a new stake in Micron Technology during the third quarter valued at about $26,000. Hobbs Group Advisors LLC purchased a new stake in Micron Technology during the second quarter valued at about $28,000. Davis Capital Management purchased a new stake in Micron Technology during the third quarter valued at about $30,000. Richard W. Paul & Associates LLC lifted its holdings 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 valued at $34,000 after purchasing an additional 144 shares during the last quarter. Finally, DT Investment Partners LLC lifted its holdings in Micron Technology by 261.1% during the third quarter. DT Investment Partners LLC now owns 325 shares of the semiconductor manufacturer’s stock valued at $34,000 after purchasing an additional 235 shares during the last quarter. 80.84% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. TD Cowen upped their price objective on shares of Micron Technology from $115.00 to $135.00 and gave the company a “buy” rating in a report on Thursday, September 26th. Needham & Company LLC reiterated a “buy” rating and set a $140.00 price target on shares of Micron Technology in a research report on Thursday, September 26th. Wedbush reiterated an “outperform” rating and set a $140.00 price target on shares of Micron Technology in a research report on Thursday, September 26th. Bank of America upped their price target on Micron Technology from $110.00 to $125.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. Finally, Wells Fargo & Company decreased their price target on Micron Technology from $190.00 to $175.00 and set an “overweight” rating on the stock in a research report on Wednesday, September 18th. One equities 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 company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $143.04.

Insider Transactions at Micron Technology

In related news, EVP April S. Arnzen sold 4,890 shares of Micron Technology stock in a transaction on 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 in the company, valued at $15,348,790. The trade was a 3.47 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.32% of the company’s stock.

Micron Technology Trading Down 0.3 %

MU stock opened at $97.95 on Friday. The company has a market capitalization of $109.12 billion, a PE ratio of 144.05 and a beta of 1.18. Micron Technology, Inc. has a one year low of $72.93 and a one year high of $157.54. The company’s 50 day moving average price is $103.60 and its two-hundred day moving average price is $111.44. 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 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 business’s revenue was up 93.3% compared to the same quarter last year. During the same period last year, the firm posted ($1.21) earnings per share. As a group, 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 announced a quarterly dividend, which was paid on Wednesday, October 23rd. Stockholders of record on Monday, October 7th were issued a $0.115 dividend. This represents a $0.46 annualized dividend and a dividend yield of 0.47%. The ex-dividend date was Monday, October 7th. Micron Technology’s dividend payout ratio is 67.65%.

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.