Wallington Asset Management LLC Grows Stock Holdings in Micron Technology, Inc. (NASDAQ:MU)

Wallington Asset Management LLC grew its holdings in Micron Technology, Inc. (NASDAQ:MU) by 4.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 42,626 shares of the semiconductor manufacturer’s stock after acquiring an additional 1,911 shares during the period. Wallington Asset Management LLC’s holdings in Micron Technology were worth $4,421,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the business. DecisionPoint Financial LLC purchased a new stake in Micron Technology during the first quarter worth $25,000. Hobbs Group Advisors LLC purchased a new stake in Micron Technology during the second quarter worth $28,000. Valued Wealth Advisors LLC boosted its holdings in 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 buying an additional 173 shares in the last quarter. Davis Capital Management purchased a new stake in Micron Technology during the third quarter worth $30,000. Finally, Richard W. Paul & Associates LLC boosted its holdings in Micron Technology by 128.6% during the second 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 in the last quarter. 80.84% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP April S. Arnzen sold 4,890 shares of Micron Technology 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 transaction, the executive vice president now owns 135,830 shares in the company, valued at approximately $15,348,790. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.32% of the stock is currently owned by corporate insiders.

Micron Technology Trading Down 2.6 %

Micron Technology stock opened at $105.05 on Thursday. 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 firm has a market cap of $116.48 billion, a price-to-earnings ratio of -73.98 and a beta of 1.18. Micron Technology, Inc. has a 1 year low of $63.88 and a 1 year high of $157.54. The firm’s 50 day moving average price is $99.23 and its two-hundred day moving average price is $114.10.

Micron Technology (NASDAQ:MU) last posted its quarterly 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. The firm had revenue of $7.75 billion for the quarter, compared to analyst estimates of $7.65 billion. Micron Technology had a net margin of 3.10% and a return on equity of 1.58%. The firm’s quarterly revenue was up 93.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($1.21) earnings per share. On average, research 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 0.44%. Micron Technology’s dividend payout ratio (DPR) is presently -32.39%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on MU shares. Bank of America upped their price objective on shares of Micron Technology from $110.00 to $125.00 and gave the company a “buy” rating in a report on Thursday, September 26th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $150.00 target price on shares of Micron Technology in a research note on Tuesday, October 1st. KeyCorp lowered their price objective on shares of Micron Technology from $145.00 to $135.00 and set an “overweight” rating for the company in a research note on Tuesday, October 8th. Morgan Stanley raised their price objective on shares of Micron Technology from $100.00 to $114.00 and gave the company an “equal weight” rating in a research note on Thursday, September 26th. Finally, Wells Fargo & Company reduced their target price on shares of Micron Technology from $190.00 to $175.00 and set an “overweight” rating on the stock in a report on Wednesday, September 18th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and twenty-five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target 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.