Micron Technology, Inc. (NASDAQ:MU) Shares Purchased by PSI Advisors LLC

PSI Advisors LLC raised its position in shares of Micron Technology, Inc. (NASDAQ:MU) by 22.5% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,778 shares of the semiconductor manufacturer’s stock after buying an additional 511 shares during the quarter. PSI Advisors LLC’s holdings in Micron Technology were worth $288,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of MU. Hobbs Group Advisors LLC acquired a new stake in shares of Micron Technology during the 2nd quarter worth approximately $28,000. DecisionPoint Financial LLC acquired a new stake in shares of Micron Technology during the 1st quarter worth approximately $25,000. Valued Wealth Advisors LLC raised its position in shares of Micron Technology by 230.7% during the 1st 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. Richard W. Paul & Associates LLC raised its position in shares of Micron Technology by 128.6% during the 2nd 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, LRI Investments LLC raised its position in shares of Micron Technology by 57.2% during the 2nd quarter. LRI Investments LLC now owns 272 shares of the semiconductor manufacturer’s stock worth $36,000 after purchasing an additional 99 shares during the period. Institutional investors and hedge funds own 80.84% of the company’s stock.

Micron Technology Stock Performance

MU opened at $105.99 on Thursday. The firm has a market cap of $117.53 billion, a PE ratio of -73.98 and a beta of 1.18. The company has a quick ratio of 1.68, a current ratio of 2.64 and a debt-to-equity ratio of 0.29. The business has a fifty day simple moving average of $99.23 and a 200-day simple moving average of $114.10. Micron Technology, Inc. has a fifty-two week low of $63.88 and a fifty-two week high of $157.54.

Micron Technology (NASDAQ:MU) last issued 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. The business had revenue of $7.75 billion during 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%. Micron Technology’s revenue was up 93.3% compared to the same quarter last year. During the same quarter last year, the firm posted ($1.21) earnings per share. As a group, equities analysts predict that Micron Technology, Inc. will post 8.31 EPS for the current fiscal year.

Micron Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 23rd. Stockholders of record on Monday, October 7th were given a $0.115 dividend. The ex-dividend date was Monday, October 7th. This represents a $0.46 annualized dividend and a dividend yield of 0.43%. Micron Technology’s dividend payout ratio (DPR) is presently -32.39%.

Insider Transactions at Micron Technology

In related news, EVP April S. Arnzen sold 4,890 shares of the stock in a transaction on 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 directly owns 135,830 shares in the company, valued at approximately $15,348,790. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.32% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on MU shares. Morgan Stanley increased their price target on Micron Technology from $100.00 to $114.00 and gave the stock an “equal weight” rating in a research report on Thursday, September 26th. TD Cowen raised their target price on Micron Technology from $115.00 to $135.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. Robert W. Baird lowered their target price on Micron Technology from $172.00 to $150.00 and set an “outperform” rating on the stock in a research report on Friday, September 27th. KeyCorp lowered 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. Finally, JPMorgan Chase & Co. raised their target price on Micron Technology from $130.00 to $180.00 and gave the company an “overweight” rating in a research report on Thursday, June 27th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $142.85.

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.