Legacy Wealth Asset Management LLC Raises Stock Position in Micron Technology, Inc. (NASDAQ:MU)

Legacy Wealth Asset Management LLC increased its position in Micron Technology, Inc. (NASDAQ:MU) by 2.1% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,568 shares of the semiconductor manufacturer’s stock after acquiring an additional 175 shares during the period. Legacy Wealth Asset Management LLC’s holdings in Micron Technology were worth $889,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Atria Investments Inc lifted its holdings in shares of Micron Technology by 0.3% in the first quarter. Atria Investments Inc now owns 27,749 shares of the semiconductor manufacturer’s stock valued at $3,269,000 after purchasing an additional 93 shares in the last quarter. Aspect Partners LLC lifted its stake in Micron Technology by 39.8% in the 2nd quarter. Aspect Partners LLC now owns 330 shares of the semiconductor manufacturer’s stock valued at $43,000 after buying an additional 94 shares in the last quarter. Ameritas Advisory Services LLC grew its holdings in Micron Technology by 1.3% during the 2nd quarter. Ameritas Advisory Services LLC now owns 7,625 shares of the semiconductor manufacturer’s stock valued at $1,003,000 after buying an additional 98 shares during the last quarter. LRI Investments LLC increased its position in Micron Technology by 57.2% during the second quarter. LRI Investments LLC now owns 272 shares of the semiconductor manufacturer’s stock worth $36,000 after buying an additional 99 shares in the last quarter. Finally, Retirement Group LLC raised its holdings in shares of Micron Technology by 37.3% in the first quarter. Retirement Group LLC now owns 368 shares of the semiconductor manufacturer’s stock worth $43,000 after acquiring an additional 100 shares during the last quarter. 80.84% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, EVP April S. Arnzen sold 4,890 shares of the business’s stock in a transaction that occurred 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 transaction, the executive vice president now owns 135,830 shares in the company, valued at $15,348,790. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.32% of the stock is currently owned by corporate insiders.

Micron Technology Stock Performance

Shares of MU stock opened at $107.91 on Friday. The stock has a market capitalization of $119.66 billion, a price-to-earnings ratio of -75.99 and a beta of 1.18. Micron Technology, Inc. has a one year low of $63.88 and a one year high of $157.54. The company’s 50-day simple moving average is $99.23 and its 200-day simple moving average is $114.05. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.68 and a current ratio of 2.64.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings data 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 return on equity of 1.58% and a net margin of 3.10%. The firm had revenue of $7.75 billion for the quarter, compared to analysts’ expectations of $7.65 billion. During the same period last year, the business posted ($1.21) earnings per share. The firm’s revenue for the quarter was up 93.3% on a year-over-year basis. Equities analysts anticipate that Micron Technology, Inc. will post 8.31 earnings per share for the current fiscal year.

Micron Technology Announces Dividend

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

Analysts Set New Price Targets

A number of brokerages have recently commented on MU. KeyCorp lowered their price target on shares of Micron Technology from $145.00 to $135.00 and set an “overweight” rating for the company in a report on Tuesday, October 8th. Stifel Nicolaus cut their price target on Micron Technology from $165.00 to $135.00 and set a “buy” rating for the company in a report on Thursday, September 19th. Susquehanna decreased their price objective on Micron Technology from $175.00 to $165.00 and set a “positive” rating on the stock in a report on Thursday, September 26th. Wells Fargo & Company dropped their target price on Micron Technology from $190.00 to $175.00 and set an “overweight” rating for the company in a research note on Wednesday, September 18th. Finally, Robert W. Baird decreased their price target on Micron Technology from $172.00 to $150.00 and set an “outperform” rating on the stock in a research note on Friday, September 27th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-five have issued a buy rating to the company. According to data from MarketBeat, the company has an average 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.