Greenwood Capital Associates LLC Invests $5.11 Million in Micron Technology, Inc. (NASDAQ:MU)

Greenwood Capital Associates LLC purchased a new stake in shares of Micron Technology, Inc. (NASDAQ:MU) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 49,279 shares of the semiconductor manufacturer’s stock, valued at approximately $5,111,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in MU. Alterna Wealth Management Inc. increased its position in shares of Micron Technology by 38.0% during the 3rd quarter. Alterna Wealth Management Inc. now owns 2,962 shares of the semiconductor manufacturer’s stock valued at $307,000 after purchasing an additional 815 shares during the last quarter. Hazlett Burt & Watson Inc. raised its position in Micron Technology by 17.7% in the third quarter. Hazlett Burt & Watson Inc. now owns 10,362 shares of the semiconductor manufacturer’s stock worth $1,076,000 after acquiring an additional 1,559 shares during the period. PDS Planning Inc boosted its stake in shares of Micron Technology by 2.4% during the 3rd quarter. PDS Planning Inc now owns 4,382 shares of the semiconductor manufacturer’s stock worth $454,000 after acquiring an additional 104 shares during the last quarter. QRG Capital Management Inc. grew its position in shares of Micron Technology by 2.9% during the 3rd quarter. QRG Capital Management Inc. now owns 170,351 shares of the semiconductor manufacturer’s stock valued at $17,667,000 after acquiring an additional 4,878 shares during the period. Finally, Asset Management One Co. Ltd. raised its holdings in Micron Technology by 1.2% in the 3rd quarter. Asset Management One Co. Ltd. now owns 425,761 shares of the semiconductor manufacturer’s stock worth $44,156,000 after purchasing an additional 5,018 shares during the period. 80.84% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, EVP April S. Arnzen sold 4,890 shares of the company’s stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $113.00, for a total transaction of $552,570.00. Following the completion of the sale, the executive vice president now owns 135,830 shares in the company, valued at approximately $15,348,790. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.32% of the stock is currently owned by corporate insiders.

Micron Technology Stock Up 2.0 %

Shares of NASDAQ MU opened at $101.73 on Tuesday. Micron Technology, Inc. has a 1 year low of $71.71 and a 1 year high of $157.54. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.68 and a current ratio of 2.64. The firm has a market cap of $112.79 billion, a price-to-earnings ratio of 149.61 and a beta of 1.18. The stock’s 50-day simple moving average is $99.00 and its 200-day simple moving average is $113.11.

Micron Technology (NASDAQ:MU) last issued 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 the consensus estimate of $7.65 billion. Micron Technology had a return on equity of 1.58% and a net margin of 3.10%. The firm’s revenue was up 93.3% on a year-over-year basis. During the same period in the prior year, the business earned ($1.21) EPS. As a group, equities analysts anticipate that Micron Technology, Inc. will post 8.31 earnings per share for the current fiscal year.

Micron Technology Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 23rd. Shareholders 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 annualized dividend and a yield of 0.45%. Micron Technology’s dividend payout ratio (DPR) is presently 67.65%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. Wells Fargo & Company decreased their price target on shares of Micron Technology from $190.00 to $175.00 and set an “overweight” rating on the stock in a research note on Wednesday, September 18th. Bank of America boosted their target price on shares of Micron Technology from $110.00 to $125.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. TD Cowen boosted their price target on Micron Technology from $115.00 to $135.00 and gave the company a “buy” rating in a report on Thursday, September 26th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $150.00 target price on shares of Micron Technology in a report on Tuesday, October 1st. Finally, KeyCorp cut their target price on Micron Technology from $145.00 to $135.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 8th. One equities 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 target price of $143.04.

Micron Technology Company 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.