True Wealth Design LLC Raises Holdings in Micron Technology, Inc. (NASDAQ:MU)

True Wealth Design LLC increased its position in shares of Micron Technology, Inc. (NASDAQ:MU) by 1,096.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 323 shares of the semiconductor manufacturer’s stock after buying an additional 296 shares during the period. True Wealth Design LLC’s holdings in Micron Technology were worth $33,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Lazard Freres Gestion S.A.S. boosted its position in Micron Technology by 241.7% during the 3rd quarter. Lazard Freres Gestion S.A.S. now owns 41,000 shares of the semiconductor manufacturer’s stock valued at $4,252,000 after acquiring an additional 29,000 shares in the last quarter. Chartwell Investment Partners LLC boosted its position in Micron Technology by 26.4% during the third quarter. Chartwell Investment Partners LLC now owns 195,115 shares of the semiconductor manufacturer’s stock valued at $20,236,000 after purchasing an additional 40,802 shares in the last quarter. Global X Japan Co. Ltd. grew its stake in Micron Technology by 23.1% in the third quarter. Global X Japan Co. Ltd. now owns 51,832 shares of the semiconductor manufacturer’s stock valued at $5,375,000 after purchasing an additional 9,735 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Micron Technology by 1.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 6,721,126 shares of the semiconductor manufacturer’s stock worth $697,048,000 after purchasing an additional 65,591 shares in the last quarter. Finally, River Road Asset Management LLC lifted its position in shares of Micron Technology by 9.1% during the third quarter. River Road Asset Management LLC now owns 163,272 shares of the semiconductor manufacturer’s stock valued at $16,933,000 after buying an additional 13,573 shares during the last quarter. 80.84% of the stock is currently owned by institutional investors.

Micron Technology Stock Down 0.3 %

MU stock opened at $97.95 on Monday. 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 52 week low of $72.93 and a 52 week high of $157.54. The stock has a market capitalization of $109.12 billion, a P/E ratio of 144.05 and a beta of 1.18. The firm has a 50-day simple moving average of $103.60 and a 200-day simple moving average of $111.32.

Micron Technology (NASDAQ:MU) last announced its earnings results on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.97 by $0.21. Micron Technology had a net margin of 3.10% and a return on equity of 1.58%. The company had revenue of $7.75 billion for the quarter, compared to analysts’ expectations of $7.65 billion. During the same quarter in the previous year, the company posted ($1.21) EPS. The firm’s quarterly revenue was up 93.3% on a year-over-year basis. Equities analysts forecast that Micron Technology, Inc. will post 8.31 earnings per share for the current fiscal year.

Micron Technology Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 23rd. Shareholders of record on Monday, October 7th were issued a $0.115 dividend. This represents a $0.46 annualized dividend and a yield of 0.47%. The ex-dividend date was Monday, October 7th. Micron Technology’s payout ratio is currently 67.65%.

Insider Activity at Micron Technology

In other 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 transaction, the executive vice president now directly owns 135,830 shares in the company, valued at approximately $15,348,790. This represents a 3.47 % decrease in their position. The sale 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 insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. Morgan Stanley lifted their price objective on shares of Micron Technology from $100.00 to $114.00 and gave the stock an “equal weight” rating in a research report on Thursday, September 26th. Needham & Company LLC reaffirmed a “buy” rating and issued a $140.00 price target on shares of Micron Technology in a report on Thursday, September 26th. Wedbush reiterated an “outperform” rating and set a $140.00 price objective on shares of Micron Technology in a report on Thursday, September 26th. Stifel Nicolaus dropped their target price on Micron Technology from $165.00 to $135.00 and set a “buy” rating on the stock in a research note on Thursday, September 19th. Finally, China Renaissance assumed coverage on Micron Technology in a research report on Monday, October 28th. They set a “buy” rating and a $148.00 target price on the stock. One 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. According to MarketBeat, Micron Technology presently has an average rating of “Moderate Buy” and an average target price 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.