Wilmington Savings Fund Society FSB Invests $576,000 in Micron Technology, Inc. (NASDAQ:MU)

Wilmington Savings Fund Society FSB bought a new position in shares of Micron Technology, Inc. (NASDAQ:MUFree Report) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 5,558 shares of the semiconductor manufacturer’s stock, valued at approximately $576,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Hobbs Group Advisors LLC acquired a new stake in Micron Technology during the 2nd quarter worth about $28,000. Highline Wealth Partners LLC purchased a new position in shares of Micron Technology in the third quarter worth approximately $26,000. Richard W. Paul & Associates LLC raised its holdings in shares of 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 acquiring an additional 144 shares during the period. LRI Investments LLC lifted its position in shares of Micron Technology by 57.2% in the 2nd quarter. LRI Investments LLC now owns 272 shares of the semiconductor manufacturer’s stock valued at $36,000 after acquiring an additional 99 shares in the last quarter. Finally, Davis Capital Management acquired a new position in Micron Technology in the 3rd quarter worth approximately $30,000. 80.84% of the stock is owned by institutional investors.

Insider Activity at Micron Technology

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of the business’s 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 of the company’s stock, valued at $15,348,790. The trade was a 3.47 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.30% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on MU shares. Stifel Nicolaus reiterated a “buy” rating and set a $135.00 price target on shares of Micron Technology in a report on Friday. KeyCorp dropped their target price on Micron Technology from $145.00 to $135.00 and set an “overweight” rating on the stock in a report on Tuesday, October 8th. BNP Paribas lowered shares of Micron Technology from an “outperform” rating to an “underperform” rating and reduced their price target for the stock from $140.00 to $67.00 in a research report on Thursday, September 12th. Wedbush reaffirmed an “outperform” rating and set a $140.00 price objective on shares of Micron Technology in a research report on Thursday, September 26th. Finally, Rosenblatt Securities increased 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. One research analyst has rated the stock with a sell rating, two have given a hold rating and twenty-six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Micron Technology has an average rating of “Moderate Buy” and a consensus price target of $143.04.

Read Our Latest Stock Analysis on Micron Technology

Micron Technology Price Performance

Shares of NASDAQ:MU opened at $102.50 on Monday. The company has a market cap of $114.19 billion, a price-to-earnings ratio of 150.74 and a beta of 1.16. The business has a 50 day moving average price of $103.58 and a 200 day moving average price of $109.37. The company has a quick ratio of 1.68, a current ratio of 2.64 and a debt-to-equity ratio of 0.29. Micron Technology, Inc. has a twelve month low of $78.63 and a twelve month high of $157.54.

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

Micron Technology Dividend Announcement

The business 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. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.45%. The ex-dividend date of this dividend was Monday, October 7th. Micron Technology’s dividend payout ratio is currently 67.65%.

Micron Technology Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Micron Technology (NASDAQ:MU)

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