Micron Technology, Inc. (NASDAQ:MU) Stock Holdings Lifted by Truvestments Capital LLC

Truvestments Capital LLC increased its stake in shares of Micron Technology, Inc. (NASDAQ:MU) by 38.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,549 shares of the semiconductor manufacturer’s stock after buying an additional 1,263 shares during the quarter. Truvestments Capital LLC’s holdings in Micron Technology were worth $472,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of MU. EntryPoint Capital LLC acquired a new position in shares of Micron Technology during the first quarter valued at $41,000. Advisors Asset Management Inc. boosted its stake in Micron Technology by 513.5% during the 1st quarter. Advisors Asset Management Inc. now owns 5,902 shares of the semiconductor manufacturer’s stock valued at $696,000 after purchasing an additional 4,940 shares in the last quarter. Gamco Investors INC. ET AL acquired a new position in shares of Micron Technology during the 1st quarter valued at $290,000. Waverly Advisors LLC raised its stake in shares of Micron Technology by 32.4% in the 1st quarter. Waverly Advisors LLC now owns 15,077 shares of the semiconductor manufacturer’s stock worth $1,777,000 after buying an additional 3,689 shares in the last quarter. Finally, B. Riley Wealth Advisors Inc. lifted its holdings in shares of Micron Technology by 18.6% in the first quarter. B. Riley Wealth Advisors Inc. now owns 26,964 shares of the semiconductor manufacturer’s stock valued at $3,179,000 after buying an additional 4,230 shares during the period. Institutional investors and hedge funds own 80.84% of the company’s stock.

Insiders Place Their Bets

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the executive vice president now owns 135,830 shares of the company’s stock, valued at approximately $15,348,790. This represents a 3.47 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.32% of the company’s stock.

Micron Technology Stock Performance

Shares of NASDAQ MU opened at $104.48 on Tuesday. Micron Technology, Inc. has a one year low of $72.93 and a one year high of $157.54. The firm has a market capitalization of $115.84 billion, a price-to-earnings ratio of 153.65 and a beta of 1.18. 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 business has a fifty day simple moving average of $102.80 and a 200 day simple moving average of $112.03.

Micron Technology (NASDAQ:MU) last posted its 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. Micron Technology had a return on equity of 1.58% and a net margin of 3.10%. The business had revenue of $7.75 billion during the quarter, compared to the consensus estimate of $7.65 billion. During the same quarter last year, the company earned ($1.21) EPS. Micron Technology’s revenue was up 93.3% on a year-over-year basis. Sell-side analysts expect that Micron Technology, Inc. will post 8.31 EPS for the current 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 given a dividend of $0.115 per share. The ex-dividend date was Monday, October 7th. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.44%. Micron Technology’s payout ratio is currently 67.65%.

Analysts Set New Price Targets

Several brokerages have commented on MU. Citigroup dropped their price target on shares of Micron Technology from $175.00 to $150.00 and set a “buy” rating on the stock in a research report on Tuesday, September 17th. Wedbush reissued an “outperform” rating and issued a $140.00 target price on shares of Micron Technology in a research report on Thursday, September 26th. UBS Group dropped their price target on Micron Technology from $153.00 to $135.00 and set a “buy” rating on the stock in a research report on Tuesday, September 17th. Needham & Company LLC reiterated a “buy” rating and issued a $140.00 target price on shares of Micron Technology in a research report on Thursday, September 26th. Finally, KeyCorp reduced their price target on Micron Technology from $145.00 to $135.00 and set an “overweight” rating for the company in a report on Tuesday, October 8th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Micron Technology presently has a consensus rating of “Moderate Buy” and a consensus price target of $143.04.

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.