16,927 Shares in Micron Technology, Inc. (NASDAQ:MU) Bought by Kennedy Investment Group

Kennedy Investment Group purchased a new stake in Micron Technology, Inc. (NASDAQ:MU) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 16,927 shares of the semiconductor manufacturer’s stock, valued at approximately $1,755,000. Micron Technology makes up approximately 0.8% of Kennedy Investment Group’s portfolio, making the stock its 29th largest position.

Several other hedge funds also recently added to or reduced their stakes in the stock. DecisionPoint Financial LLC bought a new stake in shares of Micron Technology in the 1st quarter valued at approximately $25,000. Hobbs Group Advisors LLC bought a new stake in Micron Technology during the second quarter valued at $28,000. Valued Wealth Advisors LLC raised its holdings in shares of Micron Technology by 230.7% during the first quarter. Valued Wealth Advisors LLC now owns 248 shares of the semiconductor manufacturer’s stock worth $29,000 after purchasing an additional 173 shares during the period. Davis Capital Management bought a new position in shares of Micron Technology in the 3rd quarter worth about $30,000. Finally, Richard W. Paul & Associates LLC lifted its position in shares of Micron Technology by 128.6% in the 2nd quarter. Richard W. Paul & Associates LLC now owns 256 shares of the semiconductor manufacturer’s stock worth $34,000 after buying an additional 144 shares during the last quarter. 80.84% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on MU shares. Raymond James boosted their price objective on shares of Micron Technology from $125.00 to $140.00 and gave the company an “outperform” rating in a research report on Thursday, September 26th. Susquehanna dropped their price target on Micron Technology from $175.00 to $165.00 and set a “positive” rating on the stock in a research report on Thursday, September 26th. JPMorgan Chase & Co. boosted their price objective on Micron Technology from $130.00 to $180.00 and gave the company an “overweight” rating in a research report on Thursday, June 27th. TD Cowen upped their price objective on Micron Technology from $115.00 to $135.00 and gave the stock a “buy” rating in a research note on Thursday, September 26th. Finally, The Goldman Sachs Group raised their target price on Micron Technology from $138.00 to $158.00 and gave the company a “buy” rating in a research note on Thursday, June 27th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $142.85.

Insider Transactions 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 transaction of $552,570.00. Following the sale, the executive vice president now directly owns 135,830 shares of the company’s stock, valued at $15,348,790. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.32% of the stock is currently owned by insiders.

Micron Technology Price Performance

Micron Technology stock traded down $2.31 during mid-day trading on Monday, hitting $108.84. The company’s stock had a trading volume of 8,748,126 shares, compared to its average volume of 22,218,680. The stock has a market capitalization of $120.69 billion, a P/E ratio of -76.89 and a beta of 1.18. Micron Technology, Inc. has a twelve month low of $63.88 and a twelve month high of $157.54. The stock’s fifty day moving average price is $98.64 and its two-hundred day moving average price is $114.38. 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 (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. 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 for the quarter, compared to analysts’ expectations of $7.65 billion. During the same period in the previous year, the firm posted ($1.21) EPS. The company’s quarterly revenue was up 93.3% on a year-over-year basis. Research analysts forecast that Micron Technology, Inc. will post 8.31 earnings per share for the current year.

Micron Technology Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 23rd. Shareholders of record on Monday, October 7th will be issued a $0.115 dividend. This represents a $0.46 annualized dividend and a dividend yield of 0.42%. The ex-dividend date of this dividend is Monday, October 7th. Micron Technology’s payout ratio is -32.39%.

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.