Kovack Advisors Inc. Acquires 628 Shares of Micron Technology, Inc. (NASDAQ:MU)

Kovack Advisors Inc. raised its holdings in shares of Micron Technology, Inc. (NASDAQ:MU) by 13.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,412 shares of the semiconductor manufacturer’s stock after buying an additional 628 shares during the quarter. Kovack Advisors Inc.’s holdings in Micron Technology were worth $561,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Highline Wealth Partners LLC bought a new position in Micron Technology during the third quarter valued at about $26,000. Hobbs Group Advisors LLC bought a new stake in shares of Micron Technology during the second quarter valued at approximately $28,000. Davis Capital Management acquired a new position in shares of Micron Technology in the third quarter valued at $30,000. Richard W. Paul & Associates LLC lifted its position in Micron Technology by 128.6% in the second quarter. Richard W. Paul & Associates LLC now owns 256 shares of the semiconductor manufacturer’s stock worth $34,000 after purchasing an additional 144 shares during the period. Finally, DT Investment Partners LLC boosted its stake in Micron Technology by 261.1% during the third quarter. DT Investment Partners LLC now owns 325 shares of the semiconductor manufacturer’s stock worth $34,000 after buying an additional 235 shares in the last quarter. 80.84% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently commented on MU shares. Citigroup reduced their price objective on shares of Micron Technology from $175.00 to $150.00 and set a “buy” rating for the company in a report on Tuesday, September 17th. Susquehanna cut their price target on shares of Micron Technology from $175.00 to $165.00 and set a “positive” rating for the company in a research note on Thursday, September 26th. Bank of America upped their price objective on Micron Technology from $110.00 to $125.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. Wedbush reaffirmed an “outperform” rating and issued a $140.00 price target on shares of Micron Technology in a research note on Thursday, September 26th. Finally, Wells Fargo & Company dropped their price objective on Micron Technology from $190.00 to $175.00 and set an “overweight” rating for the company in a research note on Wednesday, September 18th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-six have given a buy rating to the company’s stock. According to MarketBeat.com, Micron Technology has an average rating of “Moderate Buy” and an average price target of $143.04.

Insider Buying and Selling at Micron Technology

In related news, EVP April S. Arnzen sold 4,890 shares of the business’s stock in a transaction that occurred on Thursday, September 26th. The stock was sold at an average price of $113.00, for a total value of $552,570.00. Following the completion of the transaction, the executive vice president now directly owns 135,830 shares in the company, valued at approximately $15,348,790. The trade was a 3.47 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.32% of the company’s stock.

Micron Technology Stock Performance

Shares of Micron Technology stock opened at $99.18 on Friday. Micron Technology, Inc. has a 52 week low of $72.93 and a 52 week 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 stock has a market capitalization of $109.96 billion, a price-to-earnings ratio of 145.86 and a beta of 1.18. The firm has a fifty day moving average of $100.93 and a two-hundred day moving average of $112.94.

Micron Technology (NASDAQ:MU) last issued its earnings results on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.97 by $0.21. The firm had revenue of $7.75 billion for 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 company’s revenue was up 93.3% compared to the same quarter last year. During the same quarter last year, the business earned ($1.21) earnings per share. As a group, equities research analysts predict that Micron Technology, Inc. will post 8.31 EPS for the current year.

Micron Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 23rd. Investors of record on Monday, October 7th were issued a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a yield of 0.46%. The ex-dividend date of this dividend was Monday, October 7th. Micron Technology’s dividend payout ratio is currently 67.65%.

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.